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The spirulina extract market size is estimated to grow by USD 134.6 million at a CAGR of 6.36% between 2023 and 2028. Spirulina powder, a blue-green algae, is gaining significant attention in various industries due to its versatile applications. In the food and beverage sector, the increasing demand for natural and clean label colors has led to the expansive use of spirulina powder as a natural colorant. Moreover, spirulina powder is also popular as a dietary supplement for its nutritional benefits, including high protein content and rich vitamin B12 sources. Additionally, research laboratories are increasingly utilizing spirulina powder for scientific studies due to its potential health benefits and unique properties. This growing demand across multiple industries is expected to fuel the market growth for spirulina powder in the coming years.
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Spirulina extracts, derived from the blue-green microalgae Spirulina platensis, have gained significant attention in various industries due to their rich nutritional profile. These extracts are known to contain essential nutrients like magnesium, iron, and calcium, making them valuable additions to nutraceuticals, particularly for vegetarians and vegans. In the cosmetics sector, spirulina extracts find extensive use in skincare products, including moisturizers, anti-aging creams, anti-wrinkle creams, and sun protection formulations. The anti-inflammatory properties of spirulina extracts contribute to their use in wound healing applications. Beyond nutraceuticals and cosmetics, spirulina extracts are also used in agriculture as organic fertilizers and in animal feed for enhancing their nutritional value. The powder, tablet and capsule, liquid, granule forms of spirulina extracts cater to diverse application requirements. Phycocyanin, a pigment found in spirulina, is another valuable compound derived from these extracts, with applications in various industries. Overall, the market is driven by the growing demand for natural and organic products in various sectors. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The growing demand for natural and clean label colors is notably driving market growth. The global market for natural food colorants is projected to witness significant growth in the coming years, driven by increasing consumer awareness and concerns regarding the safety and long-term health effects of synthetic additives. One such natural colorant gaining popularity is spirulina extract. This blue-green algae extract is rich in essential nutrients such as magnesium, iron, and calcium, making it an attractive ingredient for functional foods, plant-based diets, and wellness-oriented products. In the skincare industry, spirulina extract is used in the formulation of anti-aging creams, anti-wrinkle creams, and moisturizers due to its anti-inflammatory properties and antioxidant content. It also offers sun protection benefits, making it an ideal ingredient for sunscreen formulations.
Further, beyond food and skincare, spirulina extract is also used in wound healing applications and pet health care. For ethical consumers, spirulina extract provides a vegetarian alternative to animal-derived nutrients found in eggs. In functional beverages, snacks, and supplements, spirulina extract serves as a superfood and a source of immune system support. Despite its benefits, the spirulina extract market faces challenges related to contamination issues, particularly with pesticides and fertilizers. To address these concerns, organic spirulina extract is gaining traction in the market. The clean label trend is also driving the demand for chemical-free alternatives, further boosting the market growth. Overall, spirulina extract is poised to play a significant role in the natural food colorant market, offering a wide range of applications from confectionary foods to health supplements. Thus, such factors are driving the growth of the market during the forecast period.
The potential health benefits of spirulina is the key trend in the market. Spirulina extract, derived from the blue-green algae, is renowned for its rich nutritional profile. This natural ingredient is a valuable source of essential nutrients, including phycocyanin, a powerful plant-based protein. Research suggests that spirulina offers various health benefits, such as antioxidant, anti-inflammatory, and pain-relieving properties. It also supports brain health and aids in wound healing. For vegetarians and those following plant-based diets, spirulina is an excellent alternative to animal-derived sources of essential nutrients like magnesium, iron, and calcium. In the realm of functional foods and beverages, spirulina extract is increasingly being used in skincare products, including moisturizers, anti-aging creams, and anti-wrinkle creams. Its antioxidant properties make it an ideal addition to sun protection formulations.
In addition, spirulina's nutritional benefits extend to pet health care, where it is used in pet food and supplements. As consumers become more health-conscious, there is a growing demand for organic and clean label products. Organic spirulina extract, free from contamination by pesticides and fertilizers, is gaining popularity. Spirulina's nutritional benefits are also making it a popular ingredient in confectionary foods, health supplements, and wellness-oriented products. Moreover, spirulina extract's antioxidant properties make it an effective ingredient in anti-inflammatory formulations. It complements other natural extracts, such as amla extracts, to enhance their benefits. In the context of the clean label trend, spirulina extract offers chemical-free alternatives to synthetic additives, making it an attractive choice for manufacturers. In summary, spirulina extract, with its rich nutritional profile and various health benefits, is a versatile ingredient that finds applications in a wide range of products, from skincare and functional foods to health supplements and pet food. Its potential to support the immune system and offer anti-inflammatory benefits makes it a valuable addition to wellness-oriented products and functional beverages. Additionally, its use in snacks and supplements caters to the growing demand for nutrient-dense, plant-based options. Thus, such trends will shape the growth of the market during the forecast period.
Negative effects of spirulina extract is the major challenge that affects the growth of the market. Spirulina extract, derived from blue-green algae, holds significant value in various industries, including skincare and health. In the realm of beauty, it is utilized in the formulation of moisturizers, anti-aging creams, and anti-wrinkle creams due to its anti-inflammatory properties and rich nutritional profile. Magnesium, iron, calcium, and essential nutrients are some key components that contribute to its efficacy. For vegetarians and those following plant-based diets, spirulina extract serves as a valuable source of protein and nutrients, often replacing the need for eggs. Functional foods, beverages, and supplements are other sectors that leverage spirulina extract. Its antioxidant properties and immune system support make it an ideal addition to wellness-oriented products.
However, contamination issues, such as the presence of heavy metals, pesticides, and fertilizers, can pose challenges to market growth. These concerns are particularly relevant to the organic segment, which caters to health-conscious consumers seeking chemical-free alternatives. In the pet care industry, spirulina extract is used in pet food as a nutritional supplement, providing similar benefits to animals. The clean label trend and ethical consumption are driving the demand for natural, plant-based ingredients like spirulina extract in various product formulations. However, potential side effects, such as muscle soreness, flushing of the face, headache, sweating, and difficulty concentrating, may deter some consumers. Additionally, people with phenylketonuria, seaweed or seafood allergies, and those pregnant or breastfeeding should avoid spirulina extract due to insufficient research on its effects. Grape seed extract and amla extracts are alternative sources of antioxidants in the market. Market expansion may also face challenges from the presence of synthetic additives in some spirulina extract products, which may not appeal to consumers seeking natural alternatives. In the confectionary industry, spirulina extract is used as a colorant and flavoring agent in functional snacks and beverages. As the market continues to grow, it is essential to address these challenges and ensure the production of safe, high-quality spirulina extract for various applications. Hence, the above factors will impede the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
C.B.N. Bio engineering Co. Ltd. - The company offers spirulina extract that is well suited for beverages and other acidic applications like gummies and hard candies and also has good heat and light stability, allowing for more flexibility with processing and packaging.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The nutraceuticals segment is estimated to witness significant growth during the forecast period. Spirulina extract, a rich source of essential nutrients such as magnesium, iron, calcium, and antioxidants, has gained significant attention in various industries. In the realm of skincare, it is increasingly used in the formulation of moisturizers, anti-aging creams, and anti-wrinkle creams due to its anti-inflammatory properties and ability to protect against sun damage. Vegetarians and those following plant-based diets can benefit from spirulina extract in functional foods and health supplements, which also cater to the clean label trend and ethical consumption preferences.
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The nutraceuticals segment accounted for USD 144.40 million in 2018. Beyond human consumption, spirulina extract finds applications in pet health care and confectionary foods. Its immune system support properties make it an attractive addition to pet food formulations. Furthermore, spirulina extract is a popular superfood in wellness-oriented products, including functional beverages and snacks. Despite its numerous benefits, the spirulina extract market faces challenges such as contamination issues due to the presence of pesticides and fertilizers. To address these concerns, organic spirulina extract is gaining popularity among health-conscious consumers. Chemical-free alternatives to synthetic additives are increasingly preferred, making the organic segment a significant growth area for spirulina extract. Amla extracts and grape seed extract are often combined with spirulina extract in product formulations to enhance their antioxidant properties. Overall, the spirulina extract market is poised for growth, driven by its nutritional profile and versatility in various industries.
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APAC is estimated to contribute 30% to the growth of the global market during the market forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
Spirulina extract, derived from the blue-green microalgae, holds significant value in various industries such as Nutraceuticals, Cosmetics, Agriculture, and Feed. These extracts contain essential compounds like Phycocyanin, Phenolics, Polysaccharides, and Phytonutrients, offering antioxidant, anti-inflammatory, and immunostimulating effects. In the Nutraceutical sector, Spirulina extracts are used in formulations as Powder, Tablet and Capsules, and Liquid. In the Cosmetics industry, they serve as Natural additives for Skin problems, Tanning, Aging, Pigment disorders, and Skin whitening. Algenist, a leading brand, utilizes Spirulina extracts for their skincare products. In Agriculture and Feed industries, Spirulina extracts act as Natural food colorings and additives for livestock and poultry feed. In the Beverage industries, they replace Synthetic colors with Natural ones, such as Edible color Linablue. Spirulina extracts also contain Peptides and Chlorophyll, providing Beta carotene and natural color. Microalgae, the source of Spirulina extracts, is a rich source of Phycocyanin, a potent antioxidant, and Phenolics, which have anti-inflammatory properties. These properties make Spirulina extracts a valuable addition to various industries.
The market report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
Spirulina extract, derived from the blue-green microalgae Spirulina platensis, is gaining popularity in various industries due to its rich nutritional profile and beneficial compounds. These extracts are widely used in nutraceuticals, cosmetics, agriculture, and feed industries. In nutraceuticals, spirulina extracts are used in formulations as powders, tablets, and capsules, while in cosmetics, they are used in lotions, creams, and liquids for their antioxidant, anti-inflammatory, and immunostimulating effects. In agriculture, spirulina extracts are used as natural additives for livestock feed, enhancing the nutritional value of the feed. In the food industry, spirulina extracts are used as natural food colorings, replacing synthetic food additives. The beverage industry also uses spirulina extracts for their natural color and health benefits. The key compounds in spirulina extracts include phycocyanin, phenolics, polysaccharides, and various peptides and phytonutrients. Phycocyanin is a pigment with antioxidant properties, while phenolics and polysaccharides contribute to the immunostimulating effects. Beta carotene and chlorophyll are also present in spirulina extracts, providing natural color and additional health benefits. Brands like Algenist use spirulina extracts in their skincare products for addressing skin problems such as tanning, aging, and pigment disorders. Spirulina extracts are also used in skin whitening products due to their brightening properties. Overall, spirulina extracts offer a natural and sustainable alternative to synthetic colors and additives in various industries.
Market Scope |
|
Report Coverage |
Details |
Page number |
138 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.36% |
Market growth 2024-2028 |
USD 134.6 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.58 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
APAC at 30% |
Key countries |
US, China, Germany, Canada, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Aim Grow Biotech Co. Ltd., AromataGroup Srl, BASF SE, C.B.N. Bio engineering Co. Ltd., Chr Hansen Holding AS, Cyanotech Corp., DIC Corp., Dohler GmbH, EID Parry India Ltd., Far East Bio Tec Co. Ltd., Fraken Biochem Co. Ltd., Fuqing King Dnarmsa Spirulina Co. Ltd., Givaudan SA, GNC Holdings LLC, Green Jeeva LLC, Herbo Nutra, Ideal Natural Extract, NOW Health Group Inc., Sensient Technologies Corp., and Zhejiang Binmei Biotechnology Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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