Spirulina Extract Market Trends

Statistics for the 2023 & 2024 Spirulina Extract market trends, created by Mordor Intelligence™ Industry Reports. Spirulina Extract trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

Market Trends of Spirulina Extract Industry

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