Market Overview and Dynamics
The Europe microalgae-based products market was valued at US$ 520.26 million in 2021 and is projected to reach US$ 879.59 million by 2028, growing at a CAGR of 7.8% from 2021 to 2028.
One of the primary factors driving this growth is the increasing adoption of vegetarian and vegan diets across the region, largely fueled by rising food allergy concerns. According to the Centers for Disease Control and Prevention (CDC), the prevalence of food allergies is on the rise, leading consumers to seek allergen-free, plant-based alternatives. This trend is boosting demand for vegan and natural protein sources, with algae-derived proteins emerging as a highly promising category.
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Microalgae, known for their rich nutritional profile, can contain up to 70% protein and are abundant in vitamins A, C, and E, folate, calcium, iodine, iron, as well as omega-3 fatty acids, lipids, carbohydrates, and essential trace minerals. As a result, food and ingredient manufacturers are increasingly utilizing algal biomass in the production of functional and allergen-free food products.
Notably, companies like Solazyme have made significant strides in this space. The company developed a Chlorella-based microalgae powder, leading to the creation of AlgaVia Whole Algae Flour and AlgaVia Whole Algae Protein. These products are marketed as vegan, gluten-free, allergen-free, non-GMO, and sustainably produced, reinforcing the appeal of microalgae in the clean-label food sector.
As consumer awareness grows, the role of both macroalgae and microalgae in vegan nutrition is expanding, making algae-based ingredients a key trend in the plant-based food revolution.
Key Market Segments
- By Product Type:
- Spirulina (largest share in 2020)
- Chlorella
- Astaxanthin (fastest-growing segment)
- Beta Carotene
- Others
- By Application:
- Pharmaceuticals & Nutraceuticals (dominated the market in 2020)
- Food & Beverages (expected to grow at the fastest rate)
- Animal Feed
- Personal Care
- Others
Major Companies Referenced
Key players operating in the Europe microalgae-based products market include:
- AstaReal
- Bluebiotech International GmbH
- Cargill, Incorporated
- Cyanotech Corporation
- E.I.D. – Parry (India) Limited
- Earthrise Nutritionals, LLC
- Far East Bio-Tec Co., Ltd
These companies are actively engaged in R&D, product innovation, and strategic partnerships to strengthen their market presence.
Reasons to Purchase This Report
- Gain a clear understanding of the Europe microalgae-based products market landscape
- Identify high-growth segments with strong ROI potential
- Stay ahead in a competitive environment through strategic market insights
- Support M&A decisions by pinpointing the most lucrative product and application segments
- Make informed business decisions with a comprehensive segment-wise revenue forecast (2021–2028)
Market Introduction
Europe comprises several economically advanced nations such as Germany, France, the UK, and Italy. The Western region of Europe is particularly noted for its high standard of living and elevated per capita income levels, making it one of the wealthiest parts of the continent. European consumer behavior varies significantly across regions, reflecting differences in economic status, culinary traditions, and consumption habits. The market for microalgae-based products in Europe is mature and well-established, with both national and international players offering a wide range of products through online and offline retail channels—further contributing to market expansion.
The EU Bioeconomy Strategy places strong emphasis on developing bio-based sectors, including algae. However, the full potential of the algae biomass value chain remains underutilized, with knowledge gaps in areas such as scale, organizational structure, and capability across the region. Approximately 50% of companies in Europe are engaged in the production of microalgae and/or Spirulina. France, Ireland, and Spain lead in macroalgae production, while Germany, Spain, and Italy are prominent in microalgae cultivation. Spirulina producers are particularly active in France, Italy, Germany, and Spain.
Microalgae and Spirulina biomass are increasingly used in food and food-related sectors, particularly in high-value products such as dietary supplements and nutraceuticals. Organizations like the European Biomass Industry Association and EnhanceMicroAlgae are actively promoting the cultivation and application of microalgae across various sectors. Algal biomass is recognized as a valuable source of bioactive compounds for applications in agri-horticulture, food ingredients, cosmeceuticals, pharmaceuticals, and nutraceuticals.
A growing focus on increasing algae production is a major driver of the European microalgae-based products market.
Impact of COVID-19
France, the UK, and Russia were among the hardest-hit countries in Europe during the COVID-19 pandemic. The crisis disrupted supply chains and caused a temporary decline in industrial productivity, affecting various sectors, including microalgae-based products. As of July 26, 2021, Russia alone had recorded over 6.1 million COVID-19 cases and more than 154,000 deaths. The pandemic resulted in raw material shortages, price fluctuations, and limited production capabilities due to lockdowns and restrictions.
Despite these challenges, the shift in consumer preferences toward sustainable and health-conscious ingredients has driven demand for microalgae-based products. As industries such as food and beverage, pharmaceuticals, nutraceuticals, and animal feed continue to recover and expand post-pandemic, demand for microalgae-derived products is expected to grow significantly across the region.
Europe Microalgae-Based Products Strategic Insights
Strategic insights for the Europe Microalgae-Based Products provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
Market leaders and key company profiles
ï‚·Â AstaReal
ï‚·Â Bluebiotech International Gmbh
ï‚·Â Cargill, Incorporated
ï‚·Â Cyanotech Corporation
ï‚·Â E.I.D. – Parry (India) Limited
ï‚·Â Earthrise Nutritionals, Llc
ï‚·Â Far East Bio-Tec Co., Ltd
Europe Microalgae-Based Products Regional Insights
The geographic scope of the Europe Microalgae-Based Products refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
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Author’s Bio
Akshay
Senior Market Research Expert at Business Market Insights