Europe Microalgae Products Market: Introduction
A recent study published by Transparency Market Research on the European Microalgae Products market includes the U.K., Spain, France, Italy, Germany, BENELUX, Nordic, Russia, Poland & Rest of Europe industry analysis and opportunity assessment for 2021–2031. Revenue generated from the U.K. microalgae products market is valued at US$ 150.6 Mn in 2021, which is estimated to rise at a CAGR of 4.5%, to reach US$ 232.9 Mn by 2031.
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Shifting Consumer Preferences for Natural Food Ingredients in Europe to Benefit Microalgae Products Market
The adequacy of natural products and health benefits associated with them are the most decisive purchasing factors for consumers. Customer preferences are leaning toward natural ingredients due to the growing share of the population suffering from various diseases and allergies to synthetic ingredients. This has proved to be beneficial for the adoption of microalgae-based products, as they are based on a natural ingredient enhancing health and wellness. The increasing utilization of pigments from microalgae-based products by food manufacturers due to strict regulations regarding the use of synthetic colors in food products is further propelling its demand in different natural food products.
Demand for Highly Efficient Animal Feed Solutions to Drive Sales of Microalgae-based Products
Animal rearing for meat has increased at a steep rate to meet the demand for the ever-increasing population. Utilizing agricultural products for feed production will lead to overexploitation of resources and competition with food consumption channels. Microalgae-based products are an alternate, environmentally sustainable economically advantageous source for animal feed production. Microalgae are more nutritious than the traditional sources in terms of its protein, omega 3 fatty acids, and carotenoids content.
Apart from being nutritious, they have anti-oxidative, anti-microbial, and disease-preventing molecules that can provide long lifespan to the animals. Thus, with microalgae-based products minimizing the feed utilization, along with better growth and disease prevention in animals, its demand to provide wholesome nourishment to animals is expected to increase in the animal feed industry.
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Rising Demand for Superfoods to Support Growth of Microalgae Products Market in Europe
Increasing healthcare spending, growing geriatric population, food innovations, changing lifestyle, and medical discoveries have driven the demand for superfoods. Increasing awareness regarding superfoods as natural, nutrient-rich foods containing vitamins and minerals is further drawing customer attention. The demand for microalgae-based products is rising, as Spirulina and chlorella are termed as superfoods, since they contain large amounts of protein. Spirulina also contains high amounts of vitamins, minerals, and other nutrients, which makes it an ideal food ingredient. Spirulina is known for the strong presence of vitamins A, B, C, E, and K, calcium, iron, magnesium, manganese, phosphorus, sodium and zinc.
Chlorella may help the body detox by binding to heavy metals and other toxins, and bolster immune function by increasing the activity of various parts of the immune system. The nutrients found in chlorella include niacin, fiber, carotenoids and antioxidants that may help lower cholesterol levels. Thus, rise in superfood consumption among consumers is boosting demand from the microalgae products market across regions.
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Europe Microalgae Products Market: Segmentation
Europe Microalgae Products Market by Product Type
Europe Microalgae Products Market by Form
Europe Microalgae Products Market by End Use
- Food & Beverage Processing
- Bakery & Confectionery
- Meat Products
- Dairy & Desserts
- Sauces, Dressings and Condiments
- Cosmetics & Personal Care
- Animal Feed
- Other Industrial Applications (Biofuel, etc.)
Europe Microalgae Products Market by Distribution Channel
- Business to Business
- Business to Consumers
- Convenience Stores
- Specialty Stores
- Online Retails
Europe Microalgae Products Market by Country
- Rest of Europe
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