Market Size of Asia-Pacific Spirulina Extract Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.10 % |
| Market Concentration | Medium |
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.
