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Global spirulina extract market is segmented by Application (Nutraceuticals, Food, Cosmetics, Agriculture, Feed, and Others), and by Geography.
Fastest Growing Market:
The global spirulina extract market is projected to grow at a CAGR of 6.97%, during the forecast period.
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 global spirulina extract market is segmented by application such as nutraceuticals, food, cosmetics, agriculture, feed, and others. Moreover, the study provides an analysis of the spirulina market in the emerging and established markets across the world, including North America, Europe, Asia-Pacific, South America, Middle East & Africa.
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The natural food colorant segment is expected to grow twice as fast, as compared to its synthetic counterparts in the global marketplace. This trend is projected to provide robust growth to the sales of spirulina extract in the global market. The safety concerns regarding the artificial colorings and their long-term detrimental health effects have led to 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.
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North American and Europe regions are the major producers of spirulina extracts, due to their favorable climatic conditions and wide applications of the products. The North American spirulina extract market exhibits United States as the dominating country and Canada as a dynamic one, considering the regulatory changes and the change in the colorant offerings from the key market players. Due to the ban on chemicals as colorants in the food industry, the United States and Europe are blooming markets. The demand for clean label and natural ingredients are expected to drive the market in the forecast period.
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Some of the major key players in spirulina extract market are Algene Biotech, Aller Aqua, BASF, Chr. Hansen A/S, Cyanotech Corporation, C.B.N. Spirulina Canada Co., Ltd, DDW - the Color House, DIC Corporation- Earthrise Nutritionals, Dohler Group, Fiorio Colori S.p.A, FMC Corporation, Hydro Linea Biotech, Naturex SA, Royal DSM, Sensient Technologies Corporation, and Solazyme, among others.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Application
5.2.1 North America
22.214.171.124 United States
126.96.36.199 Rest of North America
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
5.2.3 Asia Pacific
220.127.116.11 Rest of Asia-Pacific
5.2.4 South America
18.104.22.168 Rest of South America
5.2.5 Middle East & Africa
22.214.171.124 Saudi Arabia
126.96.36.199 Rest of MEA
6. COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Sensient Technologies Corporation
6.4.2 DDW - the Color House
6.4.3 DIC Corporation- Earthrise Nutritionals
6.4.4 Chr. Hansen A/S
6.4.5 Naturex SA
6.4.6 Royal DSM
6.4.7 Dohler Group
6.4.8 C.B.N. Spirulina Canada Co., Ltd
6.4.9 BASF SE
7. MARKET OPPORTUNITIES AND FUTURE TRENDS