Spirulina Extract Market - Growth, Trends, and Forecast (2019-2024)

Global Spirulina Market is segmented by Application (Nutraceuticals, Food, Cosmetics, Agriculture, Feed, and Others) and Geography.

Market Snapshot

market summary spirulina market
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR (2019-2024):

6.97%

Key Players:

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Market Overview

Global Spirulina Market  is expected to grow at a CAGR of 6.97%, during the forecast period of 2019 –2024.

  • The growing demand for natural and clean label colors has recreated a demand for spirulina extracts. Stringent regulations and a ban on synthetic food additives by the European and the United State governments have opened the gates for the demand for natural additives.
  • Based on the application areas, nutraceuticals and food sectors are expected to be promising end users of spirulina, due to rapid development of algae-based super foods, heightened consumer’s interest toward natural & clean-label products, and the regulatory encouragement in terms of enabling policies and implementation framework.

Scope of the Report

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. The Global Spirulina Market is segmented by application such as nutraceuticals, food, cosmetics, agriculture, feed, and others. Moreover, the study provides an analysis of the spirulina market in the emerging and established markets across the world, including North America, Europe, Asia-Pacific, South America, Middle East & Africa.

By Application
Nutraceuticals
Food
Cosmetics
Agriculture
Feed
Others
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
United Kingdom
Germany
France
Russia
Italy
Spain
Rest of Europe
Asia Pacific
India
China
Japan
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
UAE
Saudi Arabia
Rest of MEA

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Key Market Trends

Increasing demand for Spirulina Extracts

Increasing applications of spirulina, higher nutrition value of spirulina, approval of spirulina use in the food and beverage industry by regulatory agencies, rising demand due to cost effectiveness, favorable government initiatives for the production of spirulina, increasing launch of new varieties of natural colors produced from spirulina and increasing awareness of the health benefits associated with spirulina making it a super food are pushing the growth of the global market. Moreover, the growing disposable incomes and awareness of the natural product efficiency in the developing economies are creating opportunities for growth of the spirulina during the forecast period. Innovations and funding supporting research are also major avenues to explore in the coming years.

trend 1 spirulina market

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North America and Europe Holds the Major Share in Spirulina Extracts Market

North American and Europe regions are the major producers of spirulina extracts, due to their favorable climatic conditions and wide applications of the products. The North American spirulina extract market exhibits United States as the dominating country and Canada as a dynamic one, considering the regulatory changes and the change in the colorant offerings from the key market players. 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. 

trend 2 spirulina market

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Competitive Landscape

Some of the major key players in spirulina extract market are  Algene Biotech, Aller Aqua, BASF, Chr. Hansen A/S, Cyanotech Corporation, C.B.N. Spirulina Canada Co., Ltd, DDW - the Color House, DIC Corporation- Earthrise Nutritionals, Dohler Group, Fiorio Colori S.p.A, FMC Corporation, Hydro Linea Biotech, Naturex SA, Royal DSM, Sensient Technologies Corporation, and Solazyme, among others.

Major Players

  1. Algene Biotech
  2. Aller Aqua
  3. Cyanotech Corporation
  4. DDW - the Color House
  5. Dohler Group

* Complete list of players covered available in the table of contents below

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Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

    1. 3.1 Market Overview

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Application

      1. 5.1.1 Nutraceuticals

      2. 5.1.2 Food

      3. 5.1.3 Cosmetics

      4. 5.1.4 Agriculture

      5. 5.1.5 Feed

      6. 5.1.6 Others

    2. 5.2 Geography

      1. 5.2.1 North America

        1. 5.2.1.1 United States

        2. 5.2.1.2 Canada

        3. 5.2.1.3 Mexico

        4. 5.2.1.4 Rest of North America

      2. 5.2.2 Europe

        1. 5.2.2.1 United Kingdom

        2. 5.2.2.2 Germany

        3. 5.2.2.3 France

        4. 5.2.2.4 Russia

        5. 5.2.2.5 Italy

        6. 5.2.2.6 Spain

        7. 5.2.2.7 Rest of Europe

      3. 5.2.3 Asia Pacific

        1. 5.2.3.1 India

        2. 5.2.3.2 China

        3. 5.2.3.3 Japan

        4. 5.2.3.4 Australia

        5. 5.2.3.5 Rest of Asia-Pacific

      4. 5.2.4 South America

        1. 5.2.4.1 Brazil

        2. 5.2.4.2 Argentina

        3. 5.2.4.3 Rest of South America

      5. 5.2.5 Middle East & Africa

        1. 5.2.5.1 UAE

        2. 5.2.5.2 Saudi Arabia

        3. 5.2.5.3 Rest of MEA

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Sensient Technologies Corporation

      2. 6.4.2 DDW - the Color House

      3. 6.4.3 DIC Corporation- Earthrise Nutritionals

      4. 6.4.4 Chr. Hansen A/S

      5. 6.4.5 Naturex SA

      6. 6.4.6 Royal DSM

      7. 6.4.7 Dohler Group

      8. 6.4.8 C.B.N. Spirulina Canada Co., Ltd

      9. 6.4.9 BASF

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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