Dublin, June 12, 2023 (GLOBE NEWSWIRE) -- The "Europe Spirulina Market by Product Type, Distribution Channel, Application - Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
Europe spirulina market is expected to reach $156.61 million by 2030, at a CAGR of 13.3% from 2023 to 2030, while in terms of volume, the market is expected to reach $8,308.8 tons by 2030, at a CAGR of 7.5% from 2023 to 2030.
The growth of this market is attributed to the increasing health & wellness trends and the growing food supplements industry, the rising demand for natural food colors, the positive environmental impact of spirulina cultivation, strict regulations for the use of synthetic colors and flavors, the growing preference for spirulina-sourced products, and the increasing use of spirulina in aquaculture.
Furthermore, the growing demand for phycocyanin and increasing consumer awareness regarding clean-label products are expected to provide significant opportunities for the growth of this market.
Based on product type, in 2023, the powder segment is expected to account for the largest share of the Europe spirulina market.
The large market share of this segment is attributed to the rising demand for spirulina powder among nutraceutical manufacturers due to growing health consciousness among consumers, the increasing use of spirulina powder as an ingredient in various food & beverage products, the growing popularity of vegan diet, and the increasing incorporation of herbal ingredients in cosmetic products.
However, the phycocyanin segment is expected to witness significant growth during the forecast period. The rapid growth of this segment is mainly driven by the increased adoption of phycocyanin in the manufacturing of therapeutic & nutritional products, growing reluctance toward the usage of synthetic colors, rising demand for natural blue colorants, and investments from leading color houses in the phycocyanin space.
Based on distribution channel, in 2023, the business channel segment is expected to account for the larger share of the Europe spirulina market.
The large market share of this segment is attributed to the direct purchase of large quantities of spirulina by nutraceutical, food & beverage, and animal feed manufacturers, among others, from the business channel for further product development. Moreover, it is also expected to witness significant growth during the forecast period.
Based on application, in 2023, the nutraceuticals segment is expected to account for the largest share of the Europe spirulina market. The large market share of this segment is attributed to the booming nutraceuticals sector, growing health concerns of the aging population in various countries, growing desire for natural alternatives to traditional pharmaceutical products, and increased awareness among consumers on the link between nutrition and health.
Based on geography, the market is segmented into nine major regions: France, Germany, U.K., Italy, Spain, Netherlands, Denmark, Sweden, and the Rest of Europe.
The major market share of France is attributed to the scientific and technological developments in microalgae research for various healthy foods and dietary supplements, growing awareness among consumers for natural food products, increasing rates of chronic diseases such as obesity, diabetes, and heart disease, and rising stringent regulations against synthetic colors.
Key Questions Answered in the Report:
- Which are the high-growth market segments in terms of product type, distribution channel, application, and geography?
- What is the historical market size for the Europe spirulina market?
- What are the market forecasts and estimates for the period 2023-2030?
- What are the major drivers, restraints, opportunities, and trends in the Europe spirulina market?
- Who are the major players in the market, and what are their market shares?
- Who are the major players in various countries, and what are their market shares?
- How is the competitive landscape for the Europe spirulina market?
- What are the recent developments in the Europe spirulina market?
- What are the different strategies adopted by the major players in the market?
- What are the key geographic trends, and which are the high-growth countries?
- Who are the local emerging players in the Europe spirulina market, and how do they compete with other players?
Industry Outlook
Drivers
- Increasing Health & Wellness Trends and the Growing Food Supplements Industry
- Rising Demand for Natural Food Colors
- Positive Environmental Impact of Spirulina Cultivation
- Strict Regulations for the Use of Synthetic Colors and Flavors
- Growing Preference for Spirulina-sourced Products
- Increasing Use of Spirulina in Aquaculture
Restraints
- Low Awareness Regarding the Benefits of Spirulina
- Complexities in Algae Production
Opportunities
- Growing Demand for Phycocyanin
- Increasing Consumer Awareness Regarding Clean-label Products
Trends
- Adoption of New Production Technologies (Photobioreactors)
Company Profiles (Business Overview, Financial Overview, Product Portfolio, and Strategic Developments)
- DIC Corporation (Japan)
- E.I.D. - Parry (India) Limited (A Subsidiary of M/S. Ambadi Investments Limited) (India)
- C.B.N. Bio-Engineering Co. Ltd (China)
- Givaudan SA (Switzerland)
- Fuqing King Dnarmsa Spirulina Co. Ltd. China)
- Zhejiang Binmei Biotechnology Co. Ltd. (China)
- Cyanotech Corporation (U.S.)
- JIANGSHAN COMP SPIRULINA CO. Ltd (China)
- TAIWAN WILSON ENTERPRISE INC. (Taiwan)
- Bluetec Naturals CO. Ltd. (China)
- AlgoSource (France)
- Far East Microalgae Industries
- Co. Ltd. (FEMICO) (Taiwan)
- Far East Bio-Tec. Co. Ltd. (FEBICO) (Taiwan)
- Necton S.A. (Portugal)
- YUNNAN GREEN A BIOLOGICAL PROJECT CO. Ltd. (Yunnan Spirin Biotechnology Co. Ltd) (China)
- Inner Mongolia Rejuve Biotech Co. Ltd. (China)
- Taiwan Chlorella Manufacturing Company (TCMC) (Taiwan)
- Roquette Klotze GmbH & Co. KG (Germany)
- Tianjin Norland Biotech Co. Ltd (China)
- Allmicroalgae Natural Products S.A. (Portugal)
- Qingdao Haizhijiao Biotechnology Co. Ltd (China)
- BlueBioTech Group (Germany)
- Aliga Microalgae (Denmark)
- SPIFORM (France)
- Vedan Biotechnology Corporation (Taiwan)
- ALGALIMENTO SL (Spain)
- Aurospirul (India)
- Hangzhou OuQi Food co. Ltd. (China)
- Clos Sainte Aurore (France)
- Sea & Sun Organic GmbH (Subsidiary of Sea & Sun Technology GmbH) (Germany)
- Pond Technologies Inc. (Canada)
- Xi'an Fengzu Biological Technology Co. Ltd.(FZBIOTECH)(China)
- Spirulina La capitelle (France).
Value Chain Analysis
- Overview
- Inputs/Suppliers
Cultivation and Processing
- Key Spirulina Producers - by Size
- Microfarmers (< 2 Tons/Year)*
- Small Farmers (2-20 Tons/Year)
- Large Farmers (20-200 Tons/Year)
- Very Large Farmers (>200 Tons/Year)
- Packaging, Storage, and Logistics
- Handling and Packaging Companies
- Distribution Channel (B2B & B2C)
- Spirulina-based Product Formulators and Consumers
- List of Key Buyers
Pricing Analysis
- Spirulina Powder
- Spirulina Tablets
- Spirulina Capsules
- Spirulina Flakes
- Frozen Spirulina
- Phycocyanin
Scope of the Report:
Europe Spirulina Market Assessment - by Product Type
- Powder
- Tablets
- Capsules
- Flakes
- Phycocyanin
- Frozen Spirulina
Europe Spirulina Market Assessment - by Distribution Channel
- Business Channel
- Consumer Channel
Europe Spirulina Market Assessment - by Application
- Nutraceuticals
- Food & Beverages
- Animal Feed
- Cosmetics
- Agriculture
For more information about this report visit https://www.researchandmarkets.com/r/p3l4ro
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