Meticulous Research® has published a report titled “Europe Haematococcus Pluvialis Market by Product (Astaxanthin Ingredients, Astaxanthin Bulk Finished Products), Application (Nutraceuticals, Aquaculture, Cosmetics, Food), and Geography – Forecast to 2030.” This report indicates that the European haematococcus pluvialis market is projected to reach $35 million by 2030, with a CAGR of 13.4% from 2023 to 2030. In terms of volume, the market is expected to hit 241.44 tons by 2030, growing at a CAGR of 14.5%.
Key drivers for market growth include the increasing demand for natural astaxanthin in nutraceutical applications, the need for natural food colorants, and the rising consumer awareness of clean-label products. However, the high production costs pose a significant challenge to market expansion. Opportunities lie in the rising demand for natural astaxanthin in poultry and aquaculture sectors, while the complex production processes remain a challenge for industry players.
The market is segmented by product into astaxanthin ingredients (including oleoresin and beadlets) and astaxanthin bulk finished products (capsules and tablets). The nutraceuticals application segment is expected to dominate due to the growing demand for natural astaxanthin derived from haematococcus, known for its potential health benefits against various diseases.
Geographically, Germany is anticipated to hold the largest share of the market in 2023, followed by the U.K. and Italy. Germany’s substantial market share is attributed to the extensive use of haematococcus pluvialis ingredients and a rising number of health-conscious consumers. Increasing awareness of environmental issues and consumer willingness to invest in natural products further supports market growth. Overall, the rising interest in health and wellness, fueled by education and advertising, is driving the demand for haematococcus pluvialis-derived products across various sectors.