Company insight
The growth power of astaxanthin
Algalif Iceland is one of the most exciting biotech start-up companies in Europe and has become a leader in the new industry of microalgae. The numerous awards and recognitions for the company and its CEO prove that Algalif is doing something right.
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lgalif is the biggest producer of sustainable natural astaxanthin in Europe, and after its ongoing expansion of its high-tech sustainable factory in Iceland, the company will be the biggest natural astaxanthin producer in the world. That is something for a new company in an industry that only celebrated its tenth anniversary this year. Svavar Halldorsson, Algalif’s head of sales and marketing, says there is no magic to it: “The trick is in sourcing the right talent. The company has gathered an experienced and talented team from different sectors and from around the world. It is all about the people.” Remaining true to its core values of quality, reliability and sustainability, Algalif has made itself a sought-after business partner in the nutraceutical world.
The nutraceutical world has grown since the pandemic. Most experts agree that consumers are now more aware of health and health issues and sales of many ingredients are on the rise – including natural astaxanthin. The evidence for the real and significant positive human health effects of natural astaxanthin is growing by the day. And now there is similar evidence starting to pile up about the benefits of natural astaxanthin versus its synthetic alternative in aquaculture.
Algalif is now the biggest natural astaxanthin producer in the world.
years. And if shrimp and salmon farmers start stepping up their game and replacing the chemical synthetic astaxanthin with the natural product, the growth will be even faster. Algalif is meeting the increased demand with its current plant expansion, while still honouring its values of social and environmental responsibility. The company and all its products are certified carbon neutral. This is a challenging goal for any company to reach, even in Iceland where there is abundance of clean natural water and green energy. Algalif’s production of microalgae takes place in a controlled indoor environment that is
“We are a reliable business partner and unmatched when it comes to sustainability, producing natural astaxanthin in one of the cleanest environments in the world.”
Doubling the market
Experts estimate the growth of the natural astaxanthin market around the world to be somewhere between 10–20% annually. This means the market is doubling every few
20
powered by geothermal energy. No fossil fuels are used in the production. In other words, sustainability is at the core of Algalif’s very existence. And with energy being one the biggest cost factors in any
microalgae and astaxanthin production, a long-term electricity contract at reasonable and stable prices makes the future competitive position of Algalif even better. After the ongoing expansion the output will be around 100 tonnes of biomass and over 5,000kg of pure astaxanthin. “We know that our productivity is unmatched in this industry and our green energy prices are good and will stay that way,” says Halldorsson. “Our quality is superb, as our awards prove. We are a reliable business partner and unmatched when it comes to sustainability, producing natural astaxanthin in one of the cleanest environments in the world. We are optimistic about the future.” With climate action high on the agenda, there is a global shift towards sustainability and creating a circular economy, focussing on using zero fossil fuels and creating zero waste. Algalif is at the forefront of that movement. At the same time, the company produces high-quality natural astaxanthin at a highly competitive price. ●
www.algalif.com Ingredients Insight /
www.ingredients-insight.com
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