Market Snapshot
| Study Period: | 2016 - 2026 |
| Base Year: | 2019 |
| CAGR: | 6.1 % |
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Market Overview
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.
Scope of the report
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 |
Key Market Trends
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.
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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.
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Competitive Landscape
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.
Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Porter's Five Forces Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Application
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5.1.1 Nutraceuticals
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5.1.2 Food
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5.1.3 Cosmetics
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5.1.4 Feed
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5.1.5 Others
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5.2 By Geography
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5.2.1 China
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5.2.2 India
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5.2.3 Japan
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5.2.4 Australia
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5.2.5 Rest of Asia-Pacific
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6. COMPETITIVE LANDSCAPE
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6.1 Most Active Companies
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6.2 Most Adopted Strategies
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6.3 Market Share Analysis
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6.4 Company Profiles
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6.4.1 Sensient Technologies Corporation
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6.4.2 Chr. Hansen A/S
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6.4.3 Naturex S.A
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6.4.4 DIC Corporation- Earthrise Nutritionals
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6.4.5 Dohler Group
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6.4.6 BASF SE
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6.4.7 Hydrolina Biotech Pvt. Ltd
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*List Not Exhaustive -
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Asia-Pacific Spirulina Extract Market market is studied from 2016 - 2026.
What is the growth rate of Asia-Pacific Spirulina Extract Market?
The Asia-Pacific Spirulina Extract Market is growing at a CAGR of 6.1% over the next 5 years.
Who are the key players in Asia-Pacific Spirulina Extract Market?
Sensient Technologies Corporation, Chr. Hansen A/S, Naturex S.A, DIC Corporation- Earthrise Nutritionals, Dohler Group are the major companies operating in Asia-Pacific Spirulina Extract Market.
