Global Spirulina Extract Market - Growth, Trends, and Forecast (2022 - 2030)
Market Insights
The global spirulina market is expected to register a CAGR of 6.4% during the forecast period. Spirulina extract is a natural ingredient and colorant that can be used as a dietary/ nutritional supplement and as a cosmetic ingredient. Though spirulina was part of the food and feed industry for the past decade, there are new opportunities in various industries such as agriculture, bio-diesel, nutraceuticals, and cosmetics.
Market Dynamics
Stringent regulations and a ban on synthetic food additives by the European and United States governments have opened the gates for the demand for natural additives. The growing demand for natural and clean label colors has recreated a demand for spirulina extracts. However, the specific climatic conditions required for the growth of algae are limiting the market. As a result, the countries are highly relying on imports to meet the demand. Moreover, the high costs incurred in developing the product are also restraining the market. However, the growing disposable incomes and awareness of the natural product efficiency in the developing economies are creating opportunities for growth of the global spirulina extract market during the forecast period. Innovations and funding supporting research are also major avenues to explore in the coming years.
Market Segmentation
Spirulina is rich in chlorophyll, phycocyanin, and beta-carotene and is often used as a source of natural color. Edible color Linablue, used in ice creams and confectionaries, is mainly produced from spirulina. Bans on various synthetic colors in food items by various developed nations like EU, the US, and Japan are fuelling this market. Japan has made it mandatory to use food colors that have no chemicals. In the United States, the FDA has approved the use of spirulina-based, Linablue to be used in candy as an alternative to synthetic colors. The market has been segmented by industries served (nutraceuticals, food, cosmetics, agriculture, feed, and others).
Regional Analysis
The spirulina extract market has been segmented by region (North America, South America, Europe, the Middle East & Africa, and Asia-Pacific). The North American and Asia-Pacific regions are the major producers of spirulina extracts, due to their favorable climatic conditions and wide applications of the products. The United States, Japan, and Germany are the major consumers of the products. Due to the ban on chemicals as colorants in the food industry, the United States and Europe are blooming markets. The demand for clean label and natural ingredients are expected to drive the market in the forecast period.
Key Developments
• July 2015 - BASF and Solazyme have declared the take-off of the first marketable surfactant derived from microalgae oil under the brand name of Dehyton AO 45.
• July 2013- National Prawn Company of Saudi Arabia and BASF are collaborating for the development of unique algae technology for use in food, beverages, and dietary supplements.
Competitive Landscape
Major Players - ALLER AQUA, BASF, CHR. HANSEN A/S, CYANOTECH CORPORATION, DIC CORP, DOHLER GROUP, HYDRO LINE BIOTECH, NATUREX SA, ROYAL DSM, SENSIENT TECHNOLOGIES CORPORATION, SOLAZYME and SPIRULINA CANADA CO., LTD, among others.
Reasons to Purchase this Report
• Analyzing outlook of the market with the recent trends and Porters five forces analysis
• Market dynamics which essentially consider the factors which are impelling the present market scenario along with growth opportunities of the market in the years to come
• Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
• Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
• Competitive landscape involving the market share of major players along with the key strategies adopted for development in the past five years
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis and strategies employed by the major market players
• 3 months analyst support along with the Market Estimate sheet in excel.
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.
The global spirulina market is expected to register a CAGR of 6.4% during the forecast period. Spirulina extract is a natural ingredient and colorant that can be used as a dietary/ nutritional supplement and as a cosmetic ingredient. Though spirulina was part of the food and feed industry for the past decade, there are new opportunities in various industries such as agriculture, bio-diesel, nutraceuticals, and cosmetics.
Market Dynamics
Stringent regulations and a ban on synthetic food additives by the European and United States governments have opened the gates for the demand for natural additives. The growing demand for natural and clean label colors has recreated a demand for spirulina extracts. However, the specific climatic conditions required for the growth of algae are limiting the market. As a result, the countries are highly relying on imports to meet the demand. Moreover, the high costs incurred in developing the product are also restraining the market. However, the growing disposable incomes and awareness of the natural product efficiency in the developing economies are creating opportunities for growth of the global spirulina extract market during the forecast period. Innovations and funding supporting research are also major avenues to explore in the coming years.
Market Segmentation
Spirulina is rich in chlorophyll, phycocyanin, and beta-carotene and is often used as a source of natural color. Edible color Linablue, used in ice creams and confectionaries, is mainly produced from spirulina. Bans on various synthetic colors in food items by various developed nations like EU, the US, and Japan are fuelling this market. Japan has made it mandatory to use food colors that have no chemicals. In the United States, the FDA has approved the use of spirulina-based, Linablue to be used in candy as an alternative to synthetic colors. The market has been segmented by industries served (nutraceuticals, food, cosmetics, agriculture, feed, and others).
Regional Analysis
The spirulina extract market has been segmented by region (North America, South America, Europe, the Middle East & Africa, and Asia-Pacific). The North American and Asia-Pacific regions are the major producers of spirulina extracts, due to their favorable climatic conditions and wide applications of the products. The United States, Japan, and Germany are the major consumers of the products. Due to the ban on chemicals as colorants in the food industry, the United States and Europe are blooming markets. The demand for clean label and natural ingredients are expected to drive the market in the forecast period.
Key Developments
• July 2015 - BASF and Solazyme have declared the take-off of the first marketable surfactant derived from microalgae oil under the brand name of Dehyton AO 45.
• July 2013- National Prawn Company of Saudi Arabia and BASF are collaborating for the development of unique algae technology for use in food, beverages, and dietary supplements.
Competitive Landscape
Major Players - ALLER AQUA, BASF, CHR. HANSEN A/S, CYANOTECH CORPORATION, DIC CORP, DOHLER GROUP, HYDRO LINE BIOTECH, NATUREX SA, ROYAL DSM, SENSIENT TECHNOLOGIES CORPORATION, SOLAZYME and SPIRULINA CANADA CO., LTD, among others.
Reasons to Purchase this Report
• Analyzing outlook of the market with the recent trends and Porters five forces analysis
• Market dynamics which essentially consider the factors which are impelling the present market scenario along with growth opportunities of the market in the years to come
• Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
• Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
• Competitive landscape involving the market share of major players along with the key strategies adopted for development in the past five years
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis and strategies employed by the major market players
• 3 months analyst support along with the Market Estimate sheet in excel.
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.
Frequently Asked Questions
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