NA Spirulina Extract Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 2.60 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
NA Spirulina Extract Market Analysis
The North American spirulina extract market is projected to witness a CAGR of 2.6% during the forecast period.
The increasing demand for natural and clean label ingredients, such as colors, recreated a demand for spirulina extracts. Stringent regulations and a ban on synthetic food additives by the US governments are driving the demand for natural additives.
Nutraceuticals and food sectors are expected to be promising end users of spirulina, due to the rapid development of algae-based superfoods, heightened consumer's interest toward natural and clean-label products, and the regulatory encouragement in terms of enabling policies and implementation framework.
NA Spirulina Extract Market Trends
This section covers the major market trends shaping the North America Spirulina Extract Market according to our research experts:
Rising Demand for Nutraceuticals
The factors fueling the consumer's interest in nutraceuticals include rapid advances in science and technology, increasing healthcare costs, changes in food laws affecting label and product claims, and rising interest in attaining wellness through diet, among others. Spirulina is rich in nutrients and contains up to 70 percent protein, B-complex vitamins, beta-carotene, vitamin E, and numerous minerals. It is believed to be useful as an antioxidant, antiviral, anticancer, weight loss aid, and cholesterol-lowering agent. Thus, growing health concerns of the population , growing desire for natural alternatives to traditional pharmaceutical products and increased awareness among consumers on the link between nutrition and health will drive the nutraceutical market.
United States Dominates the Market
The factors fueling the consumer's interest in nutraceuticals include rapid advancements in science and technology, increasing healthcare costs, changes in food laws affecting label and product claims, and rising interest in attaining wellness through diet, among others. Spirulina is rich in nutrients and contains up to 70% protein, B-complex vitamins, beta-carotene, vitamin E, and numerous minerals. It is believed to be useful as an antioxidant, antiviral, anticancer, weight loss aid, and cholesterol-lowering agent. Thus, growing health concerns of the population, rising desire for natural alternatives to traditional pharmaceutical products and increased awareness among consumers on the link between nutrition and health are expected to drive the nutraceutical market's growth.
NA Spirulina Extract Industry Overview
The North American spirulina extract market is fragmented, with the presence of many players and the key players are Cyanotech Corporation, Dohler Group, Aim Grow Biotech Co. Ltd, and DDW - the Color House, among others. The market players are adopting various strategies, such as new product development, partnerships, mergers and acquisitions, and expansions to meet the rising demand from consumers.
NA Spirulina Extract Market Leaders
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Cyanotech Corporation
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DDW - the Color House
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Dohler Group
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Aim Grow Biotech Co., Ltd.
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DIC Corporation- Earthrise Nutritionals
*Disclaimer: Major Players sorted in no particular order
NA Spirulina Extract Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions and Market Definition
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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3.1 Market Overview
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Porter's Five Forces Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 Application
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5.1.1 Food
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5.1.2 Nutraceuticals
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5.1.3 Cosmetics
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5.1.4 Agriculture
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5.1.5 Feed
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5.1.6 Other Applications
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5.2 Geography
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5.2.1 United States
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5.2.2 Canada
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5.2.3 Mexico
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5.2.4 Rest of North America
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6. COMPETITIVE LANDSCAPE
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6.1 Most Adopted Strategies
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6.2 Market Share Analysis
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6.3 Company Profiles
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6.3.1 Cyanotech Corporation.
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6.3.2 DDW - the Color House
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6.3.3 Dohler Group
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6.3.4 Aim Grow Biotech Co. Ltd
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6.3.5 DIC Corporation- Earthrise Nutritionals
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6.3.6 Chr. Hansen A/S
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6.3.7 Sensient Technologies Corporation
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
NA Spirulina Extract Industry Segmentation
By application, the North American spirulina extract market is segmented into food, nutraceuticals, cosmetics, agriculture, animal feed, and other applications. Moreover, the study provides an analysis of the spirulina market in regions, such as the United States, Canada, and Mexico.
| Application | |
| Food | |
| Nutraceuticals | |
| Cosmetics | |
| Agriculture | |
| Feed | |
| Other Applications |
| Geography | |
| United States | |
| Canada | |
| Mexico | |
| Rest of North America |
NA Spirulina Extract Market Research FAQs
What is the current North America Spirulina Extract Market size?
The North America Spirulina Extract Market is projected to register a CAGR of 2.60% during the forecast period (2024-2029)
Who are the key players in North America Spirulina Extract Market?
Cyanotech Corporation, DDW - the Color House, Dohler Group, Aim Grow Biotech Co., Ltd. and DIC Corporation- Earthrise Nutritionals are the major companies operating in the North America Spirulina Extract Market.
What years does this North America Spirulina Extract Market cover?
The report covers the North America Spirulina Extract Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the North America Spirulina Extract Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
NA Spirulina Extract Industry Report
Statistics for the 2024 NA Spirulina Extract market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. NA Spirulina Extract analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
