Worldwide Spirulina Extract Market is expected to grow at a CAGR of 6.4% Current Scenario with | Technical Analysis | Future Growth Prospect | Forecasting Research Report 2023
“Latest Market Overview for Spirulina Extract Market Research Report 2018-2023 with CAGR 6.4%
Global Spirulina Extract Market Report 2018 provides actionable intelligence on factors that have been driving demand; key trends that are impacting the Spirulina Extract market; challenges that affect the market dynamics along with the market size, a SWOT analysis of the key vendors, and various segments.
Competitor Analysis: by product types, market share, applications, sales, and revenue.
- Aller Aqua
- Chr. Hansen A/S
- Cyanotech Corporation
- DIC Corp
- Dohler Group
- Hydro line Biotech
- Naturex SA
- Royal DSM
- Sensient Technologies Corporation
- Spirulina Canada Co.
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Description of Spirulina Extract Market: 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.
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.
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).
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.
• 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.
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.
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The Global demand for Spirulina Extract Market is forecast to report strong development driven by consumption in major evolving markets. More growth opportunities to come up between 2018 and 2025 compared to a few years ago, signifying the rapid pace of change.
Following market aspects are enfolded in Global Spirulina Extract Market Report:
- A wide summarization of the Global Spirulina Extract Market.
- The present and forecasted regional market size data based on applications, types, and regions.
- Market trends, drivers and challenges for the Global Spirulina Extract Market.
- Analysis of company profiles of Top major players functioning in the market.
Spirulina Extract Market report passes on a fundamental overview of the Market including its definition, applications, and advancement. Furthermore, the Industry report investigates the ecumenical Major Spirulina Extract Market players in detail. Spirulina Extract Market report gives key bits of Cautiousness and subsisting status of the Players and is a basic Source obviously and heading for Companies and people energized by the Industry.
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Which are the important factors that are mentioned in the Spirulina Extract Market report 2023?
- Key Market Dynamics: The Global Spirulina Extract Market research report provides complete forecasts on the latest market trends, development methods, and research methodologies. Some of the factors that are directly in affecting the market including the Strategic Production and Methods, development platforms, and the product model itself, and even a minute change within the product profile would result in huge amount of changes within the mentioned factors. All of these factors are explained in detail in the research study.
- Major Growth Prospects:The report also focuses on some of the Key growth prediction, including new product launches, Mergers and Acquisitions, Research and Development, joint ventures, collaborations, agreements, partnerships, and growth of the key Manufacturers working effectively in the market, both in terms of regional and global scale depending on geography.
- Key Market Highlights: The report gives us an in-depth Market analysis on some of the Spirulina Extract Market key factors, including revenue, cost, capacity, capacity utilization rate, production, production rate, consumption, supply, demand, Market share, CAGR, and gross margin. Additionally, the report presents a comprehensive study of the market growth factors and their latest trends, along with related Market sections and subsections.
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The growth of this market worldwide is subjected to various factors; including consumer world-class Spirulina Extract Market of many Spirulina Extract Market products, inorganic company growth models, price volatility of raw materials, product innovation along with economic prospects in both producer and consumer countries.
Conclusively, this report will provide you a clear view of each fact of the market without a need to refer to any other research report or a data source. Our report will provide you with all the facts about the past, present, and future of the concerned Market.