NEW YORK, Sept. 19, 2022 /PRNewswire/ -- The "Spirulina Extract Market by Application and Geography - Forecast and Analysis 2022-2026" report has been added to Technavio's offering. The report expects the market size to grow by USD 138.74 million between 2021 and 2026, accelerating at a CAGR of 6.51% during the forecast period. The market is fragmented in nature and is subject to rapidly changing consumer demands and preferences. The changing consumer consumption patterns may affect vendor performance in the market. The report identifies Aim Grow Biotech Co. Ltd., AromataGroup Srl, BASF SE, C.B.N. Bio engineering Co. Ltd., and Chr Hansen Holding AS others as dominant players in the market. Download PDF Sample Report
The market segments the global spirulina extract market as follows,
- Nutraceuticals - size and forecast 2021-2026
- Food and beverages - size and forecast 2021-2026
- Animal feed and pet food - size and forecast 2021-2026
- Cosmetics - size and forecast 2021-2026
- Others - size and forecast 2021-2026
The nutraceuticals segment will dominate the global spirulina extract market through the forecast period. Factors such as the rapid development of algae-based superfoods, heightened interest of consumers toward natural and clean-label products, and regulatory encouragement in terms of enabling policies and implementation framework will foster the growth of the segment. In addition, the increasing awareness of the health benefits of spirulina among consumers will further accelerate the growth of the segment.
- North America - size and forecast 2021-2026
- Europe - size and forecast 2021-2026
- APAC - size and forecast 2021-2026
- South America - size and forecast 2021-2026
- The Middle East and Africa - size and forecast 2021-2026
North America is the leading market for spirulina extract, occupying 34% of the global market share. The presence of favorable climatic conditions and the increasing demand for clean label products containing natural ingredients are driving the growth of the regional market. The US and Canada are the key markets for spirulina extract in North America. Market growth in this region will be faster than the growth of the market in South America and MEA.
The market is driven by the growing demand for natural and clean label colors. The growing concerns about the safety of artificial colors and negative their long-term impact on health are forcing many players in the food and beverage industry to shift toward the use of natural food colors. Spirulina extracts can be used as color confections for candies, chewing gums, frostings, ice creams, and ready-to-eat and frozen food products. They can also be used as coating formulations for dietary supplements, tablets, and capsules. All these factors are driving the growth of the global spirulina extract market.
In addition, the potential health benefits of spirulina is anticipated to boost the growth of the spirulina extract market. However, some of the side effects associated with the consumption of spirulina will hinder the growth of the market during the forecast period.
- 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
- E.I.D. 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.
- Zhejiang Binmei Biotechnology Co. Ltd.
Technavio's sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request Sample Report Here
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Spirulina Extract Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.51% |
Market growth 2022-2026 |
USD 138.74 million |
Market structure |
Fragmented |
YoY growth (%) |
6.23 |
Regional analysis |
North America, Europe, APAC, South America, and the Middle East and Africa |
Performing market contribution |
North America at 34% |
Key consumer countries |
US, Canada, China, Japan, and Germany |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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, E.I.D. 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 future consumer dynamics, and market condition analysis for the 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
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 12: Market segments
- 3.3 Market size 2021
- 3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 17: Five forces analysis - Comparison between2021 and 2026
- 4.2 Bargaining power of buyers
- Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
- 4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
- 4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
- 4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
- 4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
- 4.7 Market condition
- Exhibit 23: Chart on Market condition - Five forces 2021 and 2026
5 Market Segmentation by Application
- 5.1 Market segments
- Exhibit 24: Chart on Application - Market share 2021-2026 (%)
- Exhibit 25: Data Table on Application - Market share 2021-2026 (%)
- 5.2 Comparison by Application
- Exhibit 26: Chart on Comparison by Application
- Exhibit 27: Data Table on Comparison by Application
- 5.3 Nutraceuticals - Market size and forecast 2021-2026
- Exhibit 28: Chart on Nutraceuticals - Market size and forecast 2021-2026 ($ million)
- Exhibit 29: Data Table on Nutraceuticals - Market size and forecast 2021-2026 ($ million)
- Exhibit 30: Chart on Nutraceuticals - Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on Nutraceuticals - Year-over-year growth 2021-2026 (%)
- 5.4 Food and beverages - Market size and forecast 2021-2026
- Exhibit 32: Chart on Food and beverages - Market size and forecast 2021-2026 ($ million)
- Exhibit 33: Data Table on Food and beverages - Market size and forecast 2021-2026 ($ million)
- Exhibit 34: Chart on Food and beverages - Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Food and beverages - Year-over-year growth 2021-2026 (%)
- 5.5 Animal feed and pet food - Market size and forecast 2021-2026
- Exhibit 36: Chart on Animal feed and pet food - Market size and forecast 2021-2026 ($ million)
- Exhibit 37: Data Table on Animal feed and pet food - Market size and forecast 2021-2026 ($ million)
- Exhibit 38: Chart on Animal feed and pet food - Year-over-year growth 2021-2026 (%)
- Exhibit 39: Data Table on Animal feed and pet food - Year-over-year growth 2021-2026 (%)
- 5.6 Cosmetics - Market size and forecast 2021-2026
- Exhibit 40: Chart on Cosmetics - Market size and forecast 2021-2026 ($ million)
- Exhibit 41: Data Table on Cosmetics - Market size and forecast 2021-2026 ($ million)
- Exhibit 42: Chart on Cosmetics - Year-over-year growth 2021-2026 (%)
- Exhibit 43: Data Table on Cosmetics - Year-over-year growth 2021-2026 (%)
- 5.7 Others - Market size and forecast 2021-2026
- Exhibit 44: Chart on Others - Market size and forecast 2021-2026 ($ million)
- Exhibit 45: Data Table on Others - Market size and forecast 2021-2026 ($ million)
- Exhibit 46: Chart on Others - Year-over-year growth 2021-2026 (%)
- Exhibit 47: Data Table on Others - Year-over-year growth 2021-2026 (%)
- 5.8 Market opportunity by Application
- Exhibit 48: Market opportunity by Application ($ million)
6 Customer Landscape
- 6.1 Customer landscape overview
- Exhibit 49: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 50: Chart on Market share by geography 2021-2026 (%)
- Exhibit 51: Data Table on Market share by geography 2021-2026 (%)
- 7.2 Geographic comparison
- Exhibit 52: Chart on Geographic comparison
- Exhibit 53: Data Table on Geographic comparison
- 7.3 North America - Market size and forecast 2021-2026
- Exhibit 54: Chart on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 55: Data Table on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 56: Chart on North America - Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on North America - Year-over-year growth 2021-2026 (%)
- 7.4 Europe - Market size and forecast 2021-2026
- Exhibit 58: Chart on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 59: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 60: Chart on Europe - Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on Europe - Year-over-year growth 2021-2026 (%)
- 7.5 APAC - Market size and forecast 2021-2026
- Exhibit 62: Chart on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 63: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 64: Chart on APAC - Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on APAC - Year-over-year growth 2021-2026 (%)
- 7.6 South America - Market size and forecast 2021-2026
- Exhibit 66: Chart on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 67: Data Table on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 68: Chart on South America - Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on South America - Year-over-year growth 2021-2026 (%)
- 7.7 Middle East and Africa - Market size and forecast 2021-2026
- Exhibit 70: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 71: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 72: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- 7.8 US - Market size and forecast 2021-2026
- Exhibit 74: Chart on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 75: Data Table on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 76: Chart on US - Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on US - Year-over-year growth 2021-2026 (%)
- 7.9 China - Market size and forecast 2021-2026
- Exhibit 78: Chart on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 79: Data Table on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 80: Chart on China - Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on China - Year-over-year growth 2021-2026 (%)
- 7.10 Germany - Market size and forecast 2021-2026
- Exhibit 82: Chart on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 83: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 84: Chart on Germany - Year-over-year growth 2021-2026 (%)
- Exhibit 85: Data Table on Germany - Year-over-year growth 2021-2026 (%)
- 7.11 Canada - Market size and forecast 2021-2026
- Exhibit 86: Chart on Canada - Market size and forecast 2021-2026 ($ million)
- Exhibit 87: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
- Exhibit 88: Chart on Canada - Year-over-year growth 2021-2026 (%)
- Exhibit 89: Data Table on Canada - Year-over-year growth 2021-2026 (%)
- 7.12 Japan - Market size and forecast 2021-2026
- Exhibit 90: Chart on Japan - Market size and forecast 2021-2026 ($ million)
- Exhibit 91: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
- Exhibit 92: Chart on Japan - Year-over-year growth 2021-2026 (%)
- Exhibit 93: Data Table on Japan - Year-over-year growth 2021-2026 (%)
- 7.13 Market opportunity by geography
- Exhibit 94: Market opportunity by geography ($ million)
8 Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.2 Market challenges
- 8.3 Impact of drivers and challenges
- Exhibit 95: Impact of drivers and challenges in 2021 and 2026
- 8.4 Market trends
9 Vendor Landscape
- 9.1 Overview
- 9.2 Vendor landscape
- Exhibit 96: Overview on Criticality of inputs and Factors of differentiation
- 9.3 Landscape disruption
- Exhibit 97: Overview on factors of disruption
- 9.4 Industry risks
- Exhibit 98: Impact of key risks on business
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 99: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 100: Matrix on vendor position and classification
- 10.3 C.B.N. Bio engineering Co. Ltd.
- Exhibit 101: C.B.N. Bio engineering Co. Ltd. - Overview
- Exhibit 102: C.B.N. Bio engineering Co. Ltd. - Product / Service
- Exhibit 103: C.B.N. Bio engineering Co. Ltd. - Key offerings
- 10.4 Chr Hansen Holding AS
- Exhibit 104: Chr Hansen Holding AS - Overview
- Exhibit 105: Chr Hansen Holding AS - Business segments
- Exhibit 106: Chr Hansen Holding AS - Key news
- Exhibit 107: Chr Hansen Holding AS - Key offerings
- Exhibit 108: Chr Hansen Holding AS - Segment focus
- 10.5 Cyanotech Corp.
- Exhibit 109: Cyanotech Corp. - Overview
- Exhibit 110: Cyanotech Corp. - Product / Service
- Exhibit 111: Cyanotech Corp. - Key offerings
- 10.6 DIC Corp.
- Exhibit 112: DIC Corp. - Overview
- Exhibit 113: DIC Corp. - Business segments
- Exhibit 114: DIC Corp. - Key news
- Exhibit 115: DIC Corp. - Key offerings
- Exhibit 116: DIC Corp. - Segment focus
- 10.7 Far East Bio Tec Co. Ltd.
- Exhibit 117: Far East Bio Tec Co. Ltd. - Overview
- Exhibit 118: Far East Bio Tec Co. Ltd. - Product / Service
- Exhibit 119: Far East Bio Tec Co. Ltd. - Key offerings
- 10.8 Fraken Biochem Co. Ltd.
- Exhibit 120: Fraken Biochem Co. Ltd. - Overview
- Exhibit 121: Fraken Biochem Co. Ltd. - Product / Service
- Exhibit 122: Fraken Biochem Co. Ltd. - Key offerings
- 10.9 Fuqing King Dnarmsa Spirulina Co. Ltd.
- Exhibit 123: Fuqing King Dnarmsa Spirulina Co. Ltd. - Overview
- Exhibit 124: Fuqing King Dnarmsa Spirulina Co. Ltd. - Product / Service
- Exhibit 125: Fuqing King Dnarmsa Spirulina Co. Ltd. - Key offerings
- 10.10 Givaudan SA
- Exhibit 126: Givaudan SA - Overview
- Exhibit 127: Givaudan SA - Business segments
- Exhibit 128: Givaudan SA - Key offerings
- Exhibit 129: Givaudan SA - Segment focus
- 10.11 GNC Holdings LLC
- Exhibit 130: GNC Holdings LLC - Overview
- Exhibit 131: GNC Holdings LLC - Product / Service
- Exhibit 132: GNC Holdings LLC - Key offerings
- 10.12 Herbo Nutra
- Exhibit 133: Herbo Nutra - Overview
- Exhibit 134: Herbo Nutra - Product / Service
- Exhibit 135: Herbo Nutra - Key offerings
11 Appendix
- 11.1 Scope of the report
- 11.2 Inclusions and exclusions checklist
- Exhibit 136: Inclusions checklist
- Exhibit 137: Exclusions checklist
- 11.3 Currency conversion rates for US$
- Exhibit 138: Currency conversion rates for US$
- 11.4 Research methodology
- Exhibit 139: Research methodology
- Exhibit 140: Validation techniques employed for market sizing
- Exhibit 141: Information sources
- 11.5 List of abbreviations
- Exhibit 142: List of abbreviations
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SOURCE Technavio
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