Meticulous Research(R) in its latest publication on Algal Pigments Market states that global algal pigments market is expected to grow at a CAGR of ~5-7% from 2019 to reach ~$200-300 million by 2025.
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| Global Algal Pigments Market |
The growth of this market is mainly driven by factors such as growing awareness about the health benefits of algal pigments, increasing awareness for clean-label products, rising demand for natural colorants, growing need to enhance the product appeal, and stringent regulations on the use of synthetic colors in food industry across the globe. However, factors such as high cost of natural colors, complex production of algae, and risk of algae contamination are expected to hinder the growth of the global algal pigments market to some extent. Due to problems associated with the harmful effects of synthetic colorants, exploitation of microalgal pigments as a source of natural colors becomes an attractive option. Moreover, the doubt on the successful commercialization of food grade pigments from microalgae is vanishing because of the biotechnological advancement and low capital investment.
To provide efficient analysis, Meticulous Research(R) has segmented this market on the basis of type (beta carotene, astaxanthin, lutein, phycocyanin, chlorophyll, fucoxanthin) and application (food & beverages, nutraceuticals, pharmaceuticals, aquaculture, cosmetics, others). The study also evaluates industry competitors and analyses the market at the regional and country level.
In case of type, the global algal pigments market is segmented into beta carotene, astaxanthin, lutein, phycocyanin, chlorophyll, and fucoxanthin. Beta carotene is estimated to hold the largest share of the overall algal pigments market in 2019. The large share of this segment is mainly attributed to its growing use as a food coloring agent; pro-vitamin A (retinol) in food and animal feed; additive to cosmetics and multivitamin preparations; and health food product under the antioxidant category in various industries.
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https://www.meticulousresearch.com/product/algal-pigments-market-5059/
https://www.meticulousresearch.com/product/algal-pigments-market-5059/
In case of application, the global algal pigments market is segmented into food & beverages, nutraceuticals, pharmaceuticals, aquaculture, cosmetics, and others. Food & beverages application is estimated to hold the largest share of the global market in 2019. The large share of this segment is mainly attributed to factors such as increasing consumer demand for plant-derived alternatives, stringent regulations against the use of synthetic colors in food products, and properties of algal pigments such as high nutritive value, eco-friendly nature, non-toxicity, and non-carcinogenicity.
Geographically, North America is estimated to command the largest share of the overall algal pigments market in 2019, followed by Europe, Asia-Pacific, Latin America, and the Middle East and Africa. The large share of this region is mainly attributed to well established food and beverages industry, strict regulations against the use of synthetic colors, growth of subsidiary industries like cosmetics and aquaculture, health and wellness trends, and presence of key algae manufacturers with huge production capacities, especially in the U.S.
The report provides competitive intelligence in terms of financials, growth strategies, product portfolios, and geographical presence on some of the key players operating in this market including Earthrise Nutritionals, LLC (U.S.), Cyanotech Corporation (U.S.), Zhejiang Binmei Biotechnology Co., Ltd. (China), Bluetec Naturals Co., Ltd (China), BlueBioTech Int. GmbH (Germany), Algatechologies Ltd. (Israel), E.I.D. – Parry (India) Limited (India), Tianjin Norland Biotech Co., ltd (China), AlgaeCan Biotech Ltd. (Canada), Heliae Development, LLC (U.S.), AstaReal AB (Sweden), Algae Health Sciences (U.S.), Sochim International S.p.A. (Italy), and Greenaltech SL (Spain).
Read Latest News Updates of algal pigments market here:https://www.marketwatch.com/press-release/algal-pigments-market-meticulous-researchr-reveals-why-this-market-is-growing-at-a-cagr-of-5-7-to-reach-200-300-million-by-2025-2019-11-27
Key questions answered in the report:
Food & beverages application to account for the largest share of the overall algal pigments market
- How does the adoption of algal pigments in food & beverages application differ from the adoption in nutraceutical application?
- Which are the high growth market segments in terms of typeand regions/ countries?
North America algal pigments market favors both larger and local manufacturers that compete in multiple segments
- What are the top competitors in this market and what strategies do they employ to gain shares?
- What is driving the growth and which market segments have the highest potential for revenue expansion over the forecast period?
- What strategies should new companies look to enter this market use to compete effectively?
- What are the major drivers, restraints, and opportunitiesin the algal pigmentsmarket?
- Who are the major players in various countries and what share of the market do they hold?
- What are the geographical trends and high growth regions/ countries?
Recent new product launches; partnerships, collaborations, & agreements; acquisitions and mergers; and expansions have taken place in the algal pigments market
- What companies have recently merged/acquired in various countries across the globe and how will these unions affect the competitive landscape of the algal pigments market?
- Which companies have created partnerships and how will these partnerships promote a competitive advantage?
- Who are the major players in the global algal pigments market and what share of the market do they hold?
- Who are the local emerging players in the algal pigments market and how do they compete with the global players?
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