Europe Spirulina Extract Market – Segmented by Form, Type, Application, and Geography - Growth, Trends, and Forecast (2018 - 2023)

Market insights

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 colors, feed, nutraceuticals, bio-fertilizers, and cosmetic chemicals. Spirulina contains three colors – red, blue, and yellow. Being rich in chlorophyll, phycocyanin, and beta-carotene it is often used as a source of natural color extract. Edible color ‘Lina- Blue’ used in ice creams and confectionaries are mainly produced from Spirulina.  Banning of various synthetic colors in food items by various nations is fuelling this market.

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.

Market Dynamics

Spirulina is easily digestible high protein product with high levels of β-carotene, vitamin B12, iron and trace minerals, and the rare vital fatty acid γ-linoleic acid (GLA). Additionally, it has no religious issues or negative cultural regarding its consumption. Its production is eco-friendly, very efficient in terms of land occupation, water use and energy consumption in contrast to traditional terrestrial crops. Its production is particularly suitable to saline and alkaline conditions, which are often unfavorable to traditional crops and are often occupied by disadvantaged people vulnerable to natural disasters. Its manufacture can be done at a number of different levels, from household “pot culture” to intensive commercial development over large areas. It can be integrated with rural organic waste treatment processes to improve both energy transfer efficiencies and environmental conditions. These advantages are the primary factors drive the growth of spirulina extract market. Moreover, rising consumer awareness for natural food in contrast to synthetic food conjoined with health-promoting properties of natural food colors, as well as the growing demand for clean label products and savory government regulations, like FDA’s approval to use spirulina to impart blue color in candy in the U.S. as an alternative to synthetic FD&C Blue#1 are the secondary factors fuelling the growth of this market.

Market Segmentation

The European spirulina extract market is segmented by type, form, application, and geographies of Spirulina Extracts Market.  The major segments on the basis of geography include: Brazil, Argentina, Chile, and Others.  The segmentation on the basis of type includes organic and conventional. The organic spirulina extract market is expected to grow dynamically during the forecast period owing to the increasing number of consumers who wish to pay a premium for sourcing of completely organic products. The wide range of application related to spirulina extract are driving the growth of the market, since the consumers are becoming much more aware about the health benefits related to natural extracts.

Regional Analysis

Europe was the leading market followed by North America and Asia-Pacific. Market growth in Europe is fuelled by factors, like research and development for better formulations especially for confectionery products, ban on artificial colors application, compliance with European regulations, and others.

Key Developments

• January 2015 - Sensient invested in a dedicated production line for Spirulina blue at its facility in Corte Tegge, Italy, which specializes in the processing and concentration of aqueous extracts.

Competitive Landscape

Major Players - Sensient Technologies Corporation, DDW -the Color House, DIC Corporation- Earthrise Nutritionals, Chr. Hansen A/S, Naturex S.A, Royal DSM, Dohler group, FMC Corporation, Fiorio Colori S.p.A, Aller Aqua, Cyanotech Corporation, Hydro line Biotech, Algene biotech, C.B.N. Spirulina Canada Co., Ltd, Solazyme, BASF, and Solix Biofuels, among others.

Reasons to Purchase this Report

• Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
• Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
• Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
• Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
• Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• 3-month analyst support, along with the Market Estimate sheet in excel

Customization of the Report

• This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs