Asia-Pacific Spirulina Extract Market - Analysis of Growth, Trends and Progress (2018 - 2023)

Super food Spirulina is a blue green algae that are suitable for human consumption and is an excellent dietary supplement. The dried Spirulina powders contains high amount of protein (~55%-75%), Minerals (~7%-13%) like Calcium, potassium & zinc, Beta Carotene (150-320 mg) and essential vitamins.  High amount of nutrient makes it a suitable health supplementary with lots of antioxidants especially Phycocyanin which is only found in Spirulina. Health benefits of Spirulina includes pH regulation, Energy boosting abilities, Nutrition supplements with high concentration of protein and essential fatty acids. Spirulina as a health supplement is very popular among people seeking good source of protein especially among vegans and vegetarians.

Apart from being a good health supplement, Spirulina extracts are also used in food products, natural colours, feed, nutraceuticals, bio fertilisers and cosmetic chemicals. Spirulina contains three colours – red, blue and yellow. Being rich in chlorophyll, phycocyanin and beta carotene it is often used as a source of natural colour extract. Edible colour ‘Lina- Blue’ used in ice creams and confectionaries are mainly produced from Spirulina.  Banning of various synthetic colours in food items by various developed nations like EU, US and Japan is fuelling this market. Japan have made it mandatory to use food colours which has no chemicals.  US FDA has approved the use Spirulina based ‘Lina Blue’ to be used in candy as an alternative to synthetic colours.

Cynobacterium/blue green algae helps in nitrogen fixation through photosynthesis which makes Spirulina an excellent source of bio fertilizer in various developing and developed nations. Spirulina are more famous among organic farmers who seeks to enhance productivity in natural ways.

Major factors driving the market includes growing awareness among consumers for natural food products, rising regulations against synthetic colures, growth of subsidiary industries like cosmetics and bio fertilizers,  increasing preference for plant protein sources. Lack of awareness in developing countries, changing climatic conditions due to pollution and high price of extraction with availability of cheaper substitutes are some of the factors affecting the market. Application in sports drinks industry, dye markets, expansion in niche markets of developing countries re some of the potential opportunities that exist in this market.

The market is segmented by application and geographies of Spirulina Extracts Market.  The major segments on the basis of geography includes: India, China, Japan, Australia, Thailand and others.  The major segments on the basis of application includes: Nutraceuticals and dietary supplements, natural food colorant for confectionery, cosmetics, bio-fertilizers, aquaculture feed and others.

APAC Spirulina market is worth XX.XX billion USD and is expected to grow at a CAGR of XX.XX % in next five years. Major companies/firms involved in this market includes: Sensient Technologies Corporation, BASF, Naturex S.A., Chr. Hansen A/S, DDW- The Color House and DIC Corporation.

Recent developments: 

• BASF and Solazyme have declared the takeoff of first marketable surfactant which is derived from microalgae oil under the brand name of Dehyton AO 45
• 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
• BASF and Solix Biofuels (Fort Collins) have jointly been funding development of industrial biotechnology with production of fuel from blue green algae

What the report offers

The report does in-depth analysis of Market segments, drivers, restraints, opportunities, market size (in terms of both value and volume), value-chain analysis, technologies in use, major players, government regulations, upcoming projects and developments. The forecasts of market growth and market sizes for each segments are included after analyzing the primary and secondary data sources are included in the report along with competitive analysis of the market. In addition to it, the report also explains economic conditions of and forecast of its current economic scenario and effect of its current policy changes in to its economy, reasons and implications on the growth of this sector. The company profiles of major players and market strategies are also included in the report.