Algal Pigments Market Analysis

Algal Pigments Market Analysis

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The algal pigments market size from nutraceuticals application is expected to rise substantially through 2032, driven by the increasing focus on health & wellness. As per the data by Nutrition Business Journal, the supplements market achieved a total sales value of around USD 60 billion in 2021. Algal pigments are a rich source of antioxidants, vitamins, and other bioactive compounds, making them highly suitable for nutraceutical products.
 

These pigments are being incorporated into dietary supplements, functional foods, and beverages to enhance their nutritional content and provide additional health benefits. As consumers become more conscious of their well-being and seek natural, plant-based alternatives, the demand for algal pigments for nutraceutical applications will keep soaring.
 

The powder algal pigments market accounted for over 60% of revenue share in 2022, due to its versatility and ease of use. Algal pigments in powder form offer extended shelf life and improved stability compared to liquid or gel-based counterparts, making them suitable for a wide range of applications. This form is particularly popular in the food & beverage sector for adding natural colors to products like beverages, confectioneries, and health supplements.
 

Additionally, the convenience and ease of handling of powdered form have also led to its adoption in cosmetics, pharmaceuticals, and textiles, where precise dosing and uniform dispersion are essential.
 

North America algal pigments market size dominated around USD 115 million in 2022. The well-established presence of key players in the region, along with ongoing R&D activities, has contributed to advancements in algal pigment production technologies. The diverse applications of the product in food & beverages, cosmetics, pharmaceuticals, and other sectors have further accelerated market expansion.
 

According to the report published by Zippia, the U.S. pharmaceutical industry registered a revenue of USD 550 million in 2021. As North America continues to prioritize sustainability and healthcare, the algal pigments market in the region is projected to maintain its upward trajectory, offering ample opportunities for both established companies and new entrants.