Latest Research Study on Spirulina Market | Production, Valuation, Size and Sales Forecast 2019-2024
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.
Global Spirulina Market is expected to grow at a CAGR of 6.97%, during the forecast period of 2019 -2024.
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Some of the major players of the 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, amongst others.
Market Overview
- 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 the rapid development of algae-based superfoods, heightened consumer’s interest toward natural & clean-label products, and the regulatory encouragement in terms of enabling policies and implementation framework.
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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.
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 the 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 booming markets. The demand for clean label and natural ingredients are expected to drive the market in the forecast period.
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Table of Contents:
1 Introduction
2 Spirulina Extract Market Research Methodology
3 Executive Summary
4 Spirulina Extract Market Dynamics
5 Spirulina Extract Market Segmentation
6 Competitive Landscape
7 Spirulina Extract Market Opportunities And Future Trends
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