Asia-Pacific Spirulina Extract Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

Asia-Pacific Spirulina Extract Market is segmented by Application (Nutraceuticals, Food, Cosmetics, Feed, and Others); and by Geography.

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APAC Spirulina Extract Market Size

Asia-Pacific Spirulina Extract Market Share
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Study Period 2018 - 2028
Base Year For Estimation 2022
Forecast Data Period 2023 - 2028
Historical Data Period 2018 - 2021
CAGR 6.10 %
Market Concentration Medium

Major Players

Asia-Pacific Spirulina Extract Market Major Players

*Disclaimer: Major Players sorted in no particular order
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APAC Spirulina Extract Market Analysis

Asia-Pacific spirulina extract market is projected to grow at a CAGR of 6.1% during the forecast period (2020 - 2025).

  • The growing demand for natural and clean label colors has recreated a demand for spirulina extracts. The spirulina extract market is dynamic and competitive, with the strong presence of key players, such as Royal DSM, Sensient Technologies Corporation, Chr. Hansen A/S, and Naturex SA.
  • Government policies for the development of spirulina extract is very conducive and enabling, and this has attracted regional players to enter intothe spirulina extract industry.
  • Spirulina extract is increasingly utilized as a preferable colorant in the variety of confections. The FDA approval for its utilization in gums and candies has prompted manufacturers to opt for spirulina, especially as a natural blue colorant.

APAC Spirulina Extract Industry Segmentation

Asia-Pacific spirulina extract market is segmented by application and geography. The market by application is further segmented into nutraceuticals, food, cosmetics, feed, and others. By geography, the market is segmented into India, China, Japan, Australia, and rest of Asia-Pacific. The report also provides the competitive analysis of prominent players along with their key strategies and product offerings in the respective market. 

By Application
Nutraceuticals
Food
Cosmetics
Feed
Others
By Geography
China
India
Japan
Australia
Rest of Asia-Pacific

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APAC Spirulina Extract Market Trends

This section covers the major market trends shaping the APAC Spirulina Extract Market according to our research experts:

Robust Demand Across Industries

The primary factor driving the growth of the spirulina extract market is its strong demand spanning across different sectors, such as agriculture, bio-diesel, nutraceuticals, bio-fertilizers, fine chemicals, and cosmetics. The food and beverage industry, in particular, is one of the leading application areas – the APAC marketplace has witnessed a surge in the demand for spirulina extract, mainly as a natural colorant amidst tightening regulatory grip over synthetic additives. Spirulina extract is increasingly utilized as a preferable colorant in the variety of confections – the FDA approval for its utilization in gums and candies has prompted manufacturers to opt for spirulina, especially as a natural blue colorant.

Asia-Pacific Spirulina Extract Market Size

Nutraceuticals Forms a Significant Application Segment

Nutraceuticals industry is incresingly using spirulina extracts in the supplements as it is rich in protein, vitamins, minerals, and many biologically active substances. Spirulina capsules have proved effective in lowering blood lipid level, and in improving immunological function. The antioxidants in spirulina prevent oxidative stress; spirulina-based functional foods are increasingly consumed to tackle stress and depression. Spirulina-based supplements are known to offer adequate level of gamma-linolenic acid (GLA), a “good fat” that is vital for the health and functioning of the brain, heart, and other body organs and systems. 

Asia-Pacific Spirulina Extract Market Trends

APAC Spirulina Extract Industry Overview

Some of the major key players in Asia-Pacific spirulina extract market are  Sensient Technologies Corporation, Chr. Hansen A/S, Naturex S.A, Dohler Group, and BASF SE. The key strategies adopted by the companies include product innovations, expansions, and mergers and acquisitions. Companies are increasing their investments in research and development (R&D) and marketing, and expanding their distribution channels to maintain their leading position in the market.

APAC Spirulina Extract Market Leaders

  1. Sensient Technologies Corporation

  2. Chr. Hansen A/S

  3. Naturex S.A

  4. DIC Corporation- Earthrise Nutritionals

  5. Dohler Group

*Disclaimer: Major Players sorted in no particular order

Asia-Pacific Spirulina Extract Market Analysis

APAC Spirulina Extract Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Application

      1. 5.1.1 Nutraceuticals

      2. 5.1.2 Food

      3. 5.1.3 Cosmetics

      4. 5.1.4 Feed

      5. 5.1.5 Others

    2. 5.2 By Geography

      1. 5.2.1 China

      2. 5.2.2 India

      3. 5.2.3 Japan

      4. 5.2.4 Australia

      5. 5.2.5 Rest of Asia-Pacific

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Sensient Technologies Corporation

      2. 6.4.2 Chr. Hansen A/S

      3. 6.4.3 Naturex S.A

      4. 6.4.4 DIC Corporation- Earthrise Nutritionals

      5. 6.4.5 Dohler Group

      6. 6.4.6 BASF SE

      7. 6.4.7 Hydrolina Biotech Pvt. Ltd

    5. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
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APAC Spirulina Extract Market Research FAQs

The Asia-Pacific Spirulina Extract Market is projected to register a CAGR of 6.1% during the forecast period (2023-2028).

Sensient Technologies Corporation, Chr. Hansen A/S, Naturex S.A, DIC Corporation- Earthrise Nutritionals and Dohler Group are the major companies operating in the Asia-Pacific Spirulina Extract Market.

Asia-Pacific Spirulina Extract Industry Report

Statistics for the 2023 Asia-Pacific Spirulina Extract market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia-Pacific Spirulina Extract analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

Asia-Pacific Spirulina Extract Report Snapshots

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