Europe Algae Ingredients Market was worth USD XX million in 2021 and estimated to be growing at a CAGR of XX%, to reach USD XX million by 2026. Algae are a varied group of aquatic organisms capable of performing photosynthesis.
Algae are mostly used in the food industry due to their wide use applications as functional ingredients. Algae are a rich source of essential oils like omega 3 fatty acids and PUFA, which are also used in pharmaceuticals and health food products. Primary factors accounted for driving the market are increasing applications in functional food segments and pharmaceutical products, the source for raw materials being cheaper, and increasing awareness regarding the benefits and necessity of omega 3 fatty acids. However, factors like high processing and production costs and health and safety concerns regarding algae extraction are hindering the growth of the market.
Europe market for Algae Ingredients is segmented based on
Source
Application
Ingredient Type
Based on Source it is divided into
Green Algae
Red Algae
Blue Algae
Brown Algae
Based on Application it is divided into
Food
Pharmaceuticals
Animal Nutrition
Cosmetics
Based on Ingredient Type it is divided into
Dried Algae
Omega 3 Fatty Acids
PUFA
Carrageenan
Alginate
Agar
B-Carotene
Germany
Italy
France
Spain
U.K. holds the major share in the market due to the presence of market leaders as well as a sophisticated food industry and algae’s extensive use in food products. Germany is the fastest-growing region due to increasing demand and product innovation and increasing disposable income.
Archer Daniels Midland Company
DSM
BASF
DuPont
Cargill
Cyanotech
Roquette
Fuji Chemicals
FMC Corporation
Omega Protein Corporation
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