Spirulina Extract Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The report covers Global Spirulina Market Revenue & Manufacturers and is segmented by Application (Nutraceuticals, Food, Cosmetics, Agriculture, Feed, and Others); and by Formulations (Powder, Tablet & Capsules, Liquid, Granule), and by Geography (North America, Europe, Asia-Pacific, South America, and the Middle-East and Africa).

Spirulina Extracts Market Size

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Spirulina Extract Market Summary
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Study Period 2019 - 2029
Market Size (2024) USD 564.78 Million
Market Size (2029) USD 926.67 Million
CAGR (2024 - 2029) 10.41 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Spirulina Extract Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Spirulina Extracts Market Analysis

The Spirulina Extract Market size is estimated at USD 564.78 million in 2024, and is expected to reach USD 926.67 million by 2029, growing at a CAGR of 10.41% during the forecast period (2024-2029).

Spirulina is extracted from different sources like microalgae, plants, and flowers. Spirulina is rich in different compounds like phycocyanin, phenolics, and polysaccharides. it gives antioxidant, anti-inflammatory, and immunostimulating effects. Spirulina can be used in different applications like in foods, pharmaceuticals, cosmetics, and personal care products. The growing demand for natural and clean label colors is expected to create a demand for spirulina extracts. Moreover, manufacturers are in the process of developing beverages based on Spirulina which is still not available in the market. This development is expected to create new business segments once introduced into the market. Only a few Spirulina juices and smoothies are available in a few regions under the beverage segment. For instance, in December 2021, Ful launched the Ful Spirulina Fizz range, a non-alcoholic soft drink in the United Kingdom.

Manufacturers are also exploring the potential of spirulina in cosmetics. Recently, microalgae have been used to treat various skin problems like tanning, aging, and pigment disorders. Additionally, Spirulina can also be used in the areas like skin whitening and anti-aging. Algae species are already being used in a few cosmetic formulations like moisturizing and thickening agents. For instance, in August 2021, the Algenist brand launched spirulina-based vitamin C skin brightening serum. However, stringent regulations and a ban on synthetic food additives by the European and the United State governments have opened the gates for the demand for natural additives. Over the medium term, the market is expected to grow owing to the increasing demand for natural and clean-labeled ingredients.

Spirulina Extracts Market Trends

Growing Demand for Natural and Clean Label Colors

The safety concerns regarding artificial colorings and their long-term detrimental health effects have led to a paradigm shift in the strategies of key giants and their product offerings. Many processed food manufacturers have also started offering food products made with natural food colorings. Natural food colors are being used in many food processing industries like beverage industries and other food preparations. Consumers are being aware of the food ingredients present in their food and their demand for clean-labeled natural ingredients is increasing owing to their health benefits over synthetic colors. Additionally, government regulations on the use of synthetic colors are also promoting the market for natural colors. Spirulina can be extracted from natural sources like algae and plants. The market players have been launching new spirulina products in different forms as per government regulations. For instance, in November 2022, the color supplier GNT secured FDA approval for the use of its spirulina extract for the use in beverages.

Spirulina Extract Market: Preference for Clean Label Products by Consumers (%), Global, 2021

North America Holds the Major Share

Spirulina extract is a rich source of peptides and phytonutrients. Spirulina extracts can be used in food as well as in cosmetics and personal care products. The demand for Cosmetics and personal care products is increasing in the North American region. Consumers are becoming aware of the ingredients in their personal care products. Due to the rise in disposable income, the demand for organic and natural products in cosmetic products is also increasing. Owing to this, the demand for spirulina extract is increasing in cosmetic and personal care products as spirulina moisturizes the skin and gives anti-aging effects. Additionally, the demand for clean-labeled bakery products is rising in the region owing to increasing demand for convenience foods. In February 2021, Selerant Canada extended the use of spirulina extract in puddings, custards, dessert coatings, and others.

Spirulina Extract Market: Market Size (%), By Region, Global, 2022

Spirulina Extracts Industry Overview

The Spirulina extract market is fragmented with global and regional players dominating the market. Some prominent players in the market are DIC Corporation, Cyanotech Corporation, Dohler Group, Chr Hansen A/S, and Givaudan (DDW-The Color House). Major players in the market and are adopting strategies like product development, mergers & acquisitions, and partnerships & collaborations to gain a competitive advantage in the market.

Spirulina Extracts Market Leaders

  1. Cyanotech Corporation

  2. Dohler Group

  3. Chr Hansen A/S

  4. Givaudan

  5. DIC Corporation

*Disclaimer: Major Players sorted in no particular order

Spirulina Extract Market Concentration
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Spirulina Extracts Market News

  • In December 2021, Givaudan announced an acquisition of DDW The Color House. The acquisition helped Givaudan to expand its portfolio and become a global player in natural colors.
  • In August 2021, DIC Lifetec Co. Ltd, a wholly-owned subsidiary that manufactures and sells health foods, and Spirulina, signed a sales agency contract with Fermentalg SA, one of the leaders in the development of microalgae-derived food ingredients based in Libourne, France.
  • In August 2021, Prolgae Spirulina Supplies Pvt. Ltd. launched sweet spirulina powder and spirulina protein bars. the products are 100% vegan and add immunity to a routine. According to the company, 5gm of spirulina is equal to the benefits of 5kg of fresh vegetables.

Spirulina Extracts Market Report - Table of Contents


    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study




    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


    1. 5.1 Application

      1. 5.1.1 Nutraceuticals

      2. 5.1.2 Food

      3. 5.1.3 Cosmetics

      4. 5.1.4 Agriculture

      5. 5.1.5 Feed

      6. 5.1.6 Others

    2. 5.2 Formulation

      1. 5.2.1 Powder

      2. 5.2.2 Tablet & Capsule

      3. 5.2.3 Liquid

      4. 5.2.4 Granule

    3. 5.3 Geography

      1. 5.3.1 North America

        1. United States

        2. Canada

        3. Mexico

        4. Rest of North America

      2. 5.3.2 Europe

        1. United Kingdom

        2. Germany

        3. France

        4. Russia

        5. Italy

        6. Spain

        7. Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. India

        2. China

        3. Japan

        4. Australia

        5. Rest of Asia-Pacific

      4. 5.3.4 South America

        1. Brazil

        2. Argentina

        3. Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. United Arab Emirates

        2. South Africa

        3. Rest of Middle-East and Africa


    1. 6.1 Most Adopted Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 Sensient Technologies Corporation

      2. 6.3.2 Givaudan (DDW - the Color House)

      3. 6.3.3 DIC Corporation- Earthrise Nutritionals

      4. 6.3.4 Chr. Hansen A/S

      5. 6.3.5 Naturex SA

      6. 6.3.6 Royal DSM

      7. 6.3.7 Dohler Group

      8. 6.3.8 E.I.D. Parry (India) Limited.

      9. 6.3.9 C.B.N. Spirulina Canada Co., Ltd

      10. 6.3.10 BASF SE

    4. *List Not Exhaustive

**Subject to Availability
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Spirulina Extracts Industry Segmentation

Spirulina is rich in chlorophyll, phycocyanin, and beta-carotene and is often used as a source of natural color. Edible color Linablue, used in ice creams and confectionaries, is mainly produced from spirulina. The spirulina extract market is segmented by applications into nutraceuticals, food, cosmetics, agriculture, feed, and others. By formulation, the spirulina extract market is segmented into powder, tablet & capsule, liquid, and granule. The market is segmented by geography into North America, Europe, Asia-Pacific, South America, the Middle East & Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).

Tablet & Capsule
North America
United States
Rest of North America
United Kingdom
Rest of Europe
Rest of Asia-Pacific
South America
Rest of South America
Middle-East and Africa
United Arab Emirates
South Africa
Rest of Middle-East and Africa
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Spirulina Extracts Market Research FAQs

The Spirulina Extract Market size is expected to reach USD 564.78 million in 2024 and grow at a CAGR of 10.41% to reach USD 926.67 million by 2029.

In 2024, the Spirulina Extract Market size is expected to reach USD 564.78 million.

Cyanotech Corporation, Dohler Group, Chr Hansen A/S, Givaudan and DIC Corporation are the major companies operating in the Spirulina Extract Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Spirulina Extract Market.

In 2023, the Spirulina Extract Market size was estimated at USD 511.53 million. The report covers the Spirulina Extract Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Spirulina Extract Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Spirulina Extract Industry Report

Statistics for the 2024 Spirulina Extract market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Spirulina Extract analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Spirulina Extract Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)