Meticulous Research®, a leading global market research firm, has released a report titled “Europe Microalgae Market by Type (Spirulina, Chlorella, Nannochloropsis), Category (Organic), Production Technique (Ponds, Fermenters, PBR), Distribution Channel (B2C, B2B), Application (Nutraceuticals, Food & Beverages), and Geography – Forecast to 2030.” The Europe microalgae market is projected to reach $491.9 million by 2030, with a CAGR of 9.3% during the forecast period from 2023 to 2030, and in terms of volume, it is expected to reach 25,465.0 tons, growing at 8.3% CAGR. This growth is driven by increasing consumer interest in health and wellness trends, a booming dietary supplements industry, rising demand for natural food colors, and greater vegetarianism, alongside a growing preference for microalgae-sourced products. However, challenges such as low awareness of microalgae benefits and complexities in their production may hinder market expansion. Opportunities for growth are anticipated from the rising demand for phycocyanin and microalgae in biorefineries, while contamination risks pose significant challenges for market players. Additionally, the adoption of innovative production technologies, particularly photobioreactors, is a notable trend in the Europe microalgae market.
