Home / Food & Beverage / Spirulina Extract Market By Form (Powder, Liquid), By Application (Dietary Supplements & Nutraceutical, Confectionery, Cosmetic, Bio-Fertilizer, Aquaculture Feed) ) - Growth, Future Prospects And Competitive Analysis, 2016 - 2024

Spirulina Extract Market By Form (Powder, Liquid), By Application (Dietary Supplements & Nutraceutical, Confectionery, Cosmetic, Bio-Fertilizer, Aquaculture Feed) ) - Growth, Future Prospects And Competitive Analysis, 2016 - 2024

Published: Jan 2017 | Report Code: 57934-01-17

This report titled “Spirulina Extract Market - Growth, Future Prospects, and Competitive Analysis, 2016 – 2024” offers strategic insights into the trends in spirulina extract market along with the market size and forecast for the duration 2013 to 2024. The said research study incorporates in-depth analysis of multiple market segments based on form, application and geographical distribution.

Natural food colors are witnessing increased adoption among food and beverage manufacturers. Rising consumer awareness regarding intake natural ingredients, health consciousness, ban by governments of various countries on synthetic food color use in food and beverage applications, development of sustainable and cost effective color formulations are some of the factors leading to development of natural food colors such as spirulina. Upswing in the spirulina extract market among food and beverage manufacturers is expected to result in double digit growth of the overall spirulina extract market in the forthcoming years. Furthermore, blue color formulation is not easily available in natural colors, this is anticipated to generate high demand for spirulina extract in the near future. Spirulina extract is finding profound use in the manufacturing of confectionaries and ice-creams.

In this report, the spirulina extract market is segmented on the basis of form and application. Spirulina extract usage is in two forms powdered and liquid. Based on application, spirulina extract market is segmented into dietary supplements & nutraceutical, confectionary, cosmetics, bio-fertilizer and aquaculture feed. Market size and forecast for all the considered segmentation is presented in this report for the period 2013-2023 (US$ Mn) along with their respective CAGRs for the forecast period 2016-2023 (Value %).

In terms of geographical distribution, the global spirulina extract market is studied for five major regions namely, North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. Market size and forecast for each regional and country-level market are included in the report for the considered periods. To further elucidate, the geographical distribution of the global spirulina extract market is performed as follows:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • Italy
    • U.K.
    • Russia
    • Rest of Europe
  • Asia-Pacific
    • India
    • China
    • Japan
    • Rest of Asia-Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East and Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East and Africa

Along with the quantitative information sets, this report also provides qualitative information such as market dynamics and executive summary for the global spirulina extract market. Tools such as competition assessment and attractive investment proposition are also included in the report to provide the readers with competitive mapping assistance. This study concludes with company profiles section. This section includes major information about the key spirulina extract manufacturers across the globe.

1. Preface
1.1. Report Scope and Description
1.2. Research Methodology
1.2.1. Phase I-Secondary Research
1.2.2. Phase II-Primary Research
1.2.3. Phase II-Expert Panel Review
1.2.4. Assumptions
1.2.5. Approach Adopted

2. Executive Summary
2.1. Global Spirulina Extract Market Snapshot
2.1.1. Global Spirulina Extract Market by Form,2015
2.1.2. Global Spirulina Extract Market by Application,2015
2.1.3. Global Spirulina Extract Market by Geography,2015

3. Global Spirulina Extract Market Dynamics
3.1. Market Overview
3.2. Value Chain Analysis
3.3. Market Dynamics
3.3.1. Drivers
3.3.2. Challenges
3.3.3. Future Prospects

4. Global Spirulina Extract Market Size (US$), By Form, 2013 – 2024
4.1. Overview
4.1.1. Market Share Analysis, by Form, 2015 vs. 2024
4.2. Powder
4.3. Liquid

5. Global Spirulina Extract Market Size (US$), By Application, 2013 – 2024
5.1. Overview
5.1.1. Market Share Analysis, by Application, 2015 vs. 2024
5.2. Dietary Supplements & Nutraceutical
5.3. Confectionery
5.4. Cosmetic
5.5. Bio-fertilizer
5.6. Aquaculture Feed

6. Global Spirulina Extract Market Size (US$), By Geography, 2013 – 2024
6.1. Overview
6.1.1. Market Share Analysis, by Geography, 2015 vs. 2024
6.2. North America Spirulina Extract Market Analysis, 2013 – 2024
6.2.1. North America Spirulina Extract Market Size (US$), By Country, 2013 – 2024
6.2.1.1. U.S.
6.2.1.2. Canada
6.2.2. North America Spirulina Extract Market Size (US$), By Form, 2013 – 2024
6.2.2.1. Powder
6.2.2.2. Liquid
6.2.3. North America Spirulina Extract Market Size (US$), By Application, 2013 – 2024
6.2.3.1. Dietary Supplements & Nutraceutical
6.2.3.2. Confectionary
6.2.3.3. Cosmetic
6.2.3.4. Bio-fertilizer
6.2.3.5. Aquaculture Feed
6.3. Europe Spirulina Extract Market Analysis, 2013 – 2024
6.3.1. Europe Spirulina Extract Market Size (US$), By Region, 2013 – 2024
6.3.1.1. E.U. 7
6.3.1.2. CIS
6.3.1.3. Rest of Europe
6.3.2. Europe Spirulina Extract Market Size (US$), By Form, 2013 – 2024
6.3.2.1. Powder
6.3.2.2. Liquid
6.3.3. Europe Spirulina Extract Market Size (US$), By Application, 2013 – 2024
6.3.3.1. Dietary Supplements & Nutraceutical
6.3.3.2. Confectionary
6.3.3.3. Cosmetic
6.3.3.4. Bio-fertilizer
6.3.3.5. Aquaculture Feed
6.4. Asia Pacific Spirulina Extract Market Analysis , 2013 – 2024
6.4.1. Asia Pacific Spirulina Extract Market Size (US$), By Country, 2013 – 2024
6.4.1.1. China
6.4.1.2. India
6.4.1.3. Japan
6.4.1.4. Rest of Asia Pacific
6.4.2. Asia Pacific Spirulina Extract Market Size (US$), By Form, 2013 – 2024
6.4.2.1. Powder
6.4.2.2. Liquid
6.4.3. Asia Pacific Spirulina Extract Market Size (US$), By Application, 2013 – 2024
6.4.3.1. Dietary Supplements & Nutraceutical
6.4.3.2. Confectionary
6.4.3.3. Cosmetic
6.4.3.4. Bio-fertilizer
6.4.3.5. Aquaculture Feed
6.5. Latin America Spirulina Extract Market Analysis , 2013 – 2024
6.5.1. Latin America Spirulina Extract Market Size (US$), By Country, 2013 – 2024
6.5.1.1. Brazil
6.5.1.2. Mexico
6.5.1.3. Rest of Latin America
6.5.2. Latin America Spirulina Extract Market Size (US$), By Form, 2013 – 2024
6.5.2.1. Powder
6.5.2.2. Liquid
6.5.3. Latin America Spirulina Extract Market Size (US$), By Application, 2013 – 2024
6.5.3.1. Dietary Supplements & Nutraceutical
6.5.3.2. Confectionary
6.5.3.3. Cosmetic
6.5.3.4. Bio-fertilizer
6.5.3.5. Aquaculture Feed
6.6. Middle East & Africa (MEA) Spirulina Extract Market Analysis , 2013 – 2024
6.6.1. MEA Spirulina Extract Market Size (US$), By Region, 2013 – 2024
6.6.1.1. GCC Countries
6.6.1.2. Rest of MEA
6.6.2. MEA Spirulina Extract Market Size (US$), By Form, 2013 – 2024
6.6.2.1. Powder
6.6.2.2. Liquid
6.6.3. MEA Spirulina Extract Market Size (US$), By Application, 2013 – 2024
6.6.3.1. Dietary Supplements & Nutraceutical
6.6.3.2. Confectionary
6.6.3.3. Cosmetic
6.6.3.4. Bio-fertilizer
6.6.3.5. Aquaculture Feed

7. Competitive Landscape
7.1. Competitive Dashboard
7.2. Company Profiles
7.2.1. DDW The Color House
7.2.1.1. Business Description
7.2.1.2. Financial Information
7.2.1.3. Product Portfolio
7.2.1.4. Key Developments
7.2.2. Chr. Hansen A/S
7.2.2.1. Business Description
7.2.2.2. Financial Information
7.2.2.3. Product Portfolio
7.2.2.4. Key Developments
7.2.3. DIC Corporation
7.2.3.1. Business Description
7.2.3.2. Financial Information
7.2.3.3. Product Portfolio
7.2.3.4. Key Developments
7.2.4. Naturex S.A
7.2.4.1. Business Description
7.2.4.2. Financial Information
7.2.4.3. Product Portfolio
7.2.4.4. Key Developments
7.2.5. Cargill, Inc.
7.2.5.1. Business Description
7.2.5.2. Financial Information
7.2.5.3. Product Portfolio
7.2.5.4. Key Developments
7.2.6. Sensient Technologies Corporation
7.2.6.1. Business Description
7.2.6.2. Financial Information
7.2.6.3. Product Portfolio
7.2.6.4. Key Developments
7.2.7. GNT Group
7.2.7.1. Business Description
7.2.7.2. Financial Information
7.2.7.3. Product Portfolio
7.2.7.4. Key Developments
7.2.8. Roha Dyechem Pvt. Ltd.
7.2.8.1. Business Description
7.2.8.2. Financial Information
7.2.8.3. Product Portfolio
7.2.8.4. Key Developments
7.2.9. Naturalin Bio-Resources Co., Ltd
7.2.9.1. Business Description
7.2.9.2. Financial Information
7.2.9.3. Product Portfolio
7.2.9.4. Key Developments
7.2.10. Hydrolina Biotech Private Limited
7.2.10.1. Business Description
7.2.10.2. Financial Information
7.2.10.3. Product Portfolio
7.2.10.4. Key Developments
7.2.11. Algene Biotech
7.2.11.1. Business Description
7.2.11.2. Financial Information
7.2.11.3. Product Portfolio
7.2.11.4. Key Developments

Note:

  • Profiles of specific players, if required, shall be added to the report upon request

List Of Table :

TABLE 1 Market Snapshot: Global Spirulina Extract Market
TABLE 2 North America Spirulina Extract Market Size (US$), By Form, 2013 – 2024
TABLE 3 North America Spirulina Extract Market Size (US$), By Application, 2013 – 2024
TABLE 4 U.S. Spirulina Extract Market Size (US$), By Form, 2013 – 2024
TABLE 5 U.S. Spirulina Extract Market Size (US$), By Application, 2013 – 2024
TABLE 6 Canada Spirulina Extract Market Size (US$), By Form, 2013 – 2024
TABLE 7 Canada Spirulina Extract Market Size (US$), By Application, 2013 – 2024
TABLE 8 Europe Spirulina Extract Market Size (US$), By Form, 2013 – 2024
TABLE 9 Europe Spirulina Extract Market Size (US$), By Application, 2013 – 2024
TABLE 10 Germany Spirulina Extract Market Size (US$), By Form, 2013 – 2024
TABLE 11 Germany Spirulina Extract Market Size (US$), By Application, 2013 – 2024
TABLE 12 France Spirulina Extract Market Size (US$), By Form, 2013 – 2024
TABLE 13 France Spirulina Extract Market Size (US$), By Application, 2013 – 2024
TABLE 14 Italy Spirulina Extract Market Size (US$), By Form, 2013 – 2024
TABLE 15 Italy Spirulina Extract Market Size (US$), By Application, 2013 – 2024
TABLE 16 U.K. Spirulina Extract Market Size (US$), By Form, 2013 – 2024
TABLE 17 U.K. Spirulina Extract Market Size (US$), By Application, 2013 – 2024
TABLE 18 Russia Spirulina Extract Market Size (US$), By Form, 2013 – 2024
TABLE 19 Russia Spirulina Extract Market Size (US$), By Application, 2013 – 2024
TABLE 20 Rest of Europe Spirulina Extract Market Size (US$), By Form, 2013 – 2024
TABLE 21 Rest of Europe Spirulina Extract Market Size (US$), By Application, 2013 – 2024
TABLE 22 Asia Pacific Spirulina Extract Market Size (US$), By Form, 2013 – 2024
TABLE 23 Asia Pacific Spirulina Extract Market Size (US$), By Application, 2013 – 2024
TABLE 24 India Spirulina Extract Market Size (US$), By Form, 2013 – 2024
TABLE 25 India Spirulina Extract Market Size (US$), By Application, 2013 – 2024
TABLE 26 China Spirulina Extract Market Size (US$), By Form, 2013 – 2024
TABLE 27 China Spirulina Extract Market Size (US$), By Application, 2013 – 2024
TABLE 28 Japan Spirulina Extract Market Size (US$), By Form, 2013 – 2024
TABLE 29 Japan Spirulina Extract Market Size (US$), By Application, 2013 – 2024
TABLE 30 Rest of Asia Pacific Spirulina Extract Market Size (US$), By Form, 2013 – 2024
TABLE 31 Rest of Asia Pacific Spirulina Extract Market Size (US$), By Application, 2013 – 2024
TABLE 32 Latin America Spirulina Extract Market Size (US$), By Form, 2013 – 2024
TABLE 33 Latin America Spirulina Extract Market Size (US$), By Application, 2013 – 2024
TABLE 34 Brazil Spirulina Extract Market Size (US$), By Form, 2013 – 2024
TABLE 35 Brazil Spirulina Extract Market Size (US$), By Application, 2013 – 2024
TABLE 36 Mexico Spirulina Extract Market Size (US$), By Form, 2013 – 2024
TABLE 37 Mexico Spirulina Extract Market Size (US$), By Application, 2013 – 2024
TABLE 38 Rest of Latin America Spirulina Extract Market Size (US$), By Form, 2013 – 2024
TABLE 39 Rest of Latin America Spirulina Extract Market Size (US$), By Application, 2013 – 2024
TABLE 40 MEA Spirulina Extract Market Size (US$), By Form, 2013 – 2024
TABLE 41 MEA Spirulina Extract Market Size (US$), By Application, 2013 – 2024
TABLE 42 GCC Countries Spirulina Extract Market Size (US$), By Form, 2013 – 2024
TABLE 43 GCC Countries Spirulina Extract Market Size (US$), By Application, 2013 – 2024
TABLE 44 South Africa Spirulina Extract Market Size (US$), By Form, 2013 – 2024
TABLE 45 South Africa Spirulina Extract Market Size (US$), By Application, 2013 – 2024
TABLE 46 DDW The Color House: Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)
TABLE 47 Chr. Hansen A/S: Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)
TABLE 48 Naturex S.A : Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)
TABLE 49 Cargill, Inc.: Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)
TABLE 50 Sensient Technologies Corporation: Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)
TABLE 51 GNT Group: Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)
TABLE 52 Roha Dyechem Pvt. Ltd.: Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)
TABLE 53 Naturalin Bio-Resources Co., Ltd : Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)
TABLE 54 Hydrolina Biotech Private Limited : Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)
TABLE 55 Algene Biotech: Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)

List Of Figure :

FIG. 1 Global Spirulina Extract Market Segmentation
FIG. 2 Global Spirulina Extract Market: Research Methodology
FIG. 3 Global Spirulina Extract Market Size (US$), By Form, 2015
FIG. 4 Global Spirulina Extract Market Size (US$), By Powder, 2013 – 2024
FIG. 5 Global Spirulina Extract Market Size (US$), By Liquid, 2013 – 2024
FIG. 6 Global Spirulina Extract Market Size (US$), By Application, 2015
FIG. 7 Global Spirulina Extract Market Size (US$), By Dietary Supplements & Nutraceutical, 2013 – 2024
FIG. 8 Global Spirulina Extract Market Size (US$), By Confectionery, 2013 – 2024
FIG. 9 Global Spirulina Extract Market Size (US$), By Cosmetic, 2013 – 2024
FIG. 10 Global Spirulina Extract Market Size (US$), By Bio-fertilizer, 2013 – 2024
FIG. 11 Global Spirulina Extract Market Size (US$), By Aquaculture Feed, 2013 – 2024
FIG. 12 Global Spirulina Extract Market Size (US$), By Regions, 2015 & 2023
FIG. 13 North America Spirulina Extract Market Size (US$), 2013 – 2024
FIG. 14 Europe Spirulina Extract Market Size (US$), 2013 – 2024
FIG. 15 Asia Pacific Spirulina Extract Market Size (US$), 2013 – 2024
FIG. 16 Latin America (LATAM) Spirulina Extract Market Size (US$), 2013 – 2024
FIG. 17 Middle East and Africa Spirulina Extract Market Size (US$), 2013 – 2024

Based on form, the global spirulina extract market is segmented as follows:

  • Powder
  • Liquid

Spirulina Extract Market

There has been increased trend of developing blended products, which is thus anticipated to boost demand for spirulina extract in both powder as well as liquid form in the near future. By form, spirulina extract market segmentation in the report includes both powder and liquid. In 2015 powder segment dominated the market in terms of revenue share contribution and is further expected to remain dominant during the forecast period. This is attributed to increased usage of powder form in products such as confectionery, bakery and desserts. Spirulina extract is commercially being used for large scale production of blue color in food and beverages, in which powdered formulation suits the best as compared to the liquid extract.

Increasing application of spirulina extract as dietary supplement among consumers is further spurring its adoption as a dietary supplement in liquid form, thereby leading to significant growth of liquid segment in the overall spirulina extract market during the latter years of forecast period. Furthermore, liquid spirulina extract usage in beverages is anticipated to increase significantly, thereby leading to extensive research and development among manufacturers catering to the demand for sustainable solutions. Liquid extracts reflect better stability and advantages as compared to powder extract, thus expected to grab significant share by 2024 end.

Based on application, the global spirulina extract market is segmented as follows:

  • Dietary Supplements & Nutraceutical
  • Confectionery
  • Cosmetic
  • Bio-fertilizer
  • Aquaculture Feed

Spirulina Extract Market

Spirulina extract is widely used in dietary supplements & nutraceutical, confectionery, cosmetic, bio-fertilizer and aquaculture feed. Of different applications, dietary supplements and nutraceutical segment dominated the market in terms of revenue share contribution, followed by bio-fertilizer and aquaculture feed segment. Dried spirulina powder is rich in proteins and minerals including potassium, calcium, beta carotene, zinc and other vital nutrients. Growing awareness for health consciousness among the consumers coupled with benefits related to consumption of spirulina have led to high demand for spirulina extract especially in dietary supplements across the globe. Stringent regulations on usage of synthetic food colors have led to robust demand for natural food colorants in the market. Hence, high demand is reported for spirulina extracts from the food industry as spirulina is used as a natural food colorant in food products such as ice- creams, candies and other confectionary items.

Bio-fertilizer and aquaculture feed segment collectively accounted for around 45% of the total spirulina extract market in terms of revenue share contribution in 2015. Application of spirulina extracts for other applications such as cosmetics and aquaculture feed are one of the top application areas for spirulina extract manufacturers to focus, while investing in spirulina extract market in various geographies.

For the purpose of this study, the global spirulina extract market is categorized into:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • Italy
    • U.K.
    • Russia
    • Rest of Europe
  • Asia Pacific
    • India
    • China
    • Japan
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East and Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

Spirulina Extract Market

In 2015, Europe was the leading market followed by North America and Asia Pacific. Asia Pacific and North America collectively accounted for around 50% share of the market in terms of value. Spirulina Extract market growth in Europe is driven by factors such as ban on artificial colors application, research and development for better formulations especially for confectionery products, compliance with European regulations and others during the forecast period. In addition, The United States Food and Drug Administration (FDA) approval for spirulina as a coloring agent in varied food and beverage applications strengthens market in North America. High demand for spirulina extracts from the food and cosmetic industry in North America is also anticipated to contribute to the demand for spirulina extracts in the region.

Growth is projected to be fastest from the Asia Pacific region during the forecast period 2016 to 2024. Urbanization, government intervention for food safety and standards, consumer concerns for healthy food products are some of the factors leading towards adoption of natural ingredient product, thereby leading to significant spirulina extract market growth in the region.  Furthermore, in Japan mandatory usage of natural food colorants in food and beverages has resulted in increased demand for spirulina extracts; thereby spurring growth of spirulina extracts market.

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