North America Spirulina Extract Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The North American spirulina extract market is segmented by application (food, nutraceuticals, cosmetics, agriculture, animal feed, and other applications) and geography.

Market Snapshot

north america spirulina extract market summary
Study Period: 2016 - 2026
Base Year: 2020
CAGR: 2.6 %

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Market Overview

The North American spirulina extract market is projected to witness a CAGR of 2.6% during the forecast period.

· The increasing demand for natural and clean label ingredients, such as colors, recreated a demand for spirulina extracts. Stringent regulations and a ban on synthetic food additives by the US governments are driving the demand for natural additives.

· Nutraceuticals and food sectors are expected to be promising end users of spirulina, due to the rapid development of algae-based superfoods, heightened consumer’s interest toward natural and clean-label products, and the regulatory encouragement in terms of enabling policies and implementation framework.

Scope of the report

By application, the North American spirulina extract market is segmented into food, nutraceuticals, cosmetics, agriculture, animal feed, and other applications. Moreover, the study provides an analysis of the spirulina market in regions, such as the United States, Canada, and Mexico.

Application
Food
Nutraceuticals
Cosmetics
Agriculture
Feed
Other Applications
Geography
United States
Canada
Mexico
Rest of North America

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Key Market Trends

Rising Demand for Nutraceuticals

The factors fueling the consumer's interest in nutraceuticals include rapid advances in science and technology, increasing healthcare costs, changes in food laws affecting label and product claims, and rising interest in attaining wellness through diet, among others. Spirulina is rich in nutrients and contains up to 70 percent protein, B-complex vitamins, beta-carotene, vitamin E, and numerous minerals. It is believed to be useful as an antioxidant, antiviral, anticancer, weight loss aid, and cholesterol-lowering agent. Thus, growing health concerns of the population , growing desire for natural alternatives to traditional pharmaceutical products and increased awareness among consumers on the link between nutrition and health will drive the nutraceutical market.

North America Spirulina Extract Market1

United States Dominates the Market

The factors fueling the consumer's interest in nutraceuticals include rapid advancements in science and technology, increasing healthcare costs, changes in food laws affecting label and product claims, and rising interest in attaining wellness through diet, among others. Spirulina is rich in nutrients and contains up to 70% protein, B-complex vitamins, beta-carotene, vitamin E, and numerous minerals. It is believed to be useful as an antioxidant, antiviral, anticancer, weight loss aid, and cholesterol-lowering agent. Thus, growing health concerns of the population, rising desire for natural alternatives to traditional pharmaceutical products and increased awareness among consumers on the link between nutrition and health are expected to drive the nutraceutical market’s growth.

North America Spirulina Extract Market2

Competitive Landscape

The North American spirulina extract market is fragmented, with the presence of many players and the key players are Cyanotech Corporation, Dohler Group, Aim Grow Biotech Co. Ltd, and DDW - the Color House, among others. The market players are adopting various strategies, such as new product development, partnerships, mergers and acquisitions, and expansions to meet the rising demand from consumers.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

    1. 3.1 Market Overview

  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 Application

      1. 5.1.1 Food

      2. 5.1.2 Nutraceuticals

      3. 5.1.3 Cosmetics

      4. 5.1.4 Agriculture

      5. 5.1.5 Feed

      6. 5.1.6 Other Applications

    2. 5.2 Geography

      1. 5.2.1 United States

      2. 5.2.2 Canada

      3. 5.2.3 Mexico

      4. 5.2.4 Rest of North America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Adopted Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 Cyanotech Corporation.

      2. 6.3.2 DDW - the Color House

      3. 6.3.3 Dohler Group

      4. 6.3.4 Aim Grow Biotech Co. Ltd

      5. 6.3.5 DIC Corporation- Earthrise Nutritionals

      6. 6.3.6 Chr. Hansen A/S

      7. 6.3.7 Sensient Technologies Corporation

    4. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The North America Spirulina Extract Market market is studied from 2016 - 2026.

The North America Spirulina Extract Market is growing at a CAGR of 2.6% over the next 5 years.

Cyanotech Corporation, DDW - the Color House, Dohler Group, Aim Grow Biotech Co., Ltd., DIC Corporation- Earthrise Nutritionals are the major companies operating in North America Spirulina Extract Market.

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