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Spirulina Extracts Market

Market Insights on Spirulina Extracts covering sales outlook, demand forecast & up-to-date key trends

Spirulina Extracts Market By Nature (Organic, Conventional), Application (Beverage, Bakery, Snacks, & Cereal, Candy / Confectionery, Dairy, Fruit Preparations / Fillings, Meat, Poultry, Fish, & Eggs, Potatoes, Pasta, & Rice, Sauces, Soups, & Dressings, Seasonings, Pet Food) & Region - Forecast to 2021 - 2031

Spirulina Extract Market Snapshot

[250 Pages Report]  Sales of spirulina extract are expected to grow steadily, reaching a total valuation of US$ 42, Mn in 2021. Demand for spirulina extract is expected to grow at a 14.6% CAGR over the assessment period, according to Future Market Insights (FMI).

Rising health concerns about food are pushing demand for clean label food products and ingredients. With consistent innovations in spirulina-based products and their applications in various end-use industries, high growth of the market is on card. In addition to this, FMI has projected the conventional spirulina extract segment to hold 80.3% of the total market share in 2021.            

Base year (2020) Market Value

US$ 36.9 Mn

Projected year (2021) Market Value

US$ 42 Mn

Projected year (2031) Market Value

US$ 163 Mn

CAGR% (2021-2031)

14.6% CAGR

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2016-2020 Spirulina Extract Market Outlook Compared to 2021-2031 Forecast

Demand for spirulina extract was driven by consistent efforts to develop healthier and natural food colors for various food and beverage products between 2016 and 2020. These developments have enabled manufacturers to launch novel varieties of confectionaries, seasonings, dairy products and pet food, resulting in high demand for spirulina extract.

As per FMI, the market grew at 14.1% CAGR between 2016 and 2020, and is anticipated to grow at a CAGR of 14.6% during the forecast period of 2021-31.

Spirulina extract is mostly used in the preparation of flavored juices and beverages, as well as bakery, snacks, and cereal. Today, demand for spirulina is majorly driven by the food and beverage industry.

Furthermore, shifting consumer preference for healthier food ingredients is anticipated to fuel sales of spirulina extract over the forecast period. Consumers are seeking products with natural ingredients, no artificial flavors and additives and preservatives.

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This is indicative of lucrative growth prospects for key spirulina extract producers. Besides this, rising consumer awareness about the nutritional benefits of spirulina extract is projected to boost demand for natural food colors, resulting in increasing sales of spirulina extract in the forthcoming years.

Despite the extensive range of benefits of spirulina extract, it has some limitations, such as it may contain toxins, might interfere with blood clotting and is harmful for people with phenylketonuria, as it might act as an allergen for some customers.

How is Applications of Spirulina in Nutraceutical Aiding Market Growth?

Spirulina extract is considered a superfood as it contains high amounts of protein which is equal to protein levels of an egg. The blue-green alga or spirulina extract contains high levels of B vitamins, fatty acids, polysaccharides, and minerals. It also contains a whole spectrum of natural antioxidants and phytopigments such as carotenoids, xanthophylls, and chlorophylls.

Organic spirulina extract powder helps to boost immunity, maintain healthy cardiovascular function, enhances digestion, reduces fatigue, and builds endurance. It is a natural detoxifier which cleanses the body and lifts up energy levels, which makes it a vital ingredient in the nutraceutical, which is turn is driving sales of spirulina extract.

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Rising Popularity of Spirulina in Personal Care and Cosmetics to Influence Sales

Spirulina extract has the potency to be a bioactive ingredient in the development of safe and efficacious cosmetic products. Both academics and corporate researchers have investigated the beneficial properties of spirulina products in recent years. Spirulina extract contains a variety of synergistically acting components, including peptides, polyunsaturated, vitamins, minerals, and antioxidant phytonutrients, all of which contribute to a healthy formulation.

Spirulina is currently used in topical skin-care formulations as a moisturizing, anti-aging, anti-wrinkle, antiphlogistic and anti-acne agent. Moreover, skincare manufacturers use this microalga to promote healthy sun protection, treat skin pigmentation disorders, and heal wounds. Most commercial cosmetics that incorporate spirulina offer a wide range of benefits such as antioxidant properties, revitalizing, moisturizing, protecting, as well as detoxifying and shining action for skin and hair.

Spirulina extract  improves the hydrolipidic character of the skin, revitalizes the skin tissue, thereby protecting and moisturizing the skin. The antioxidant potential of blue-colored cyanobacteria holds great significance in cosmetics. The pigment obtained from blue spirulina can be used as a natural colorant in products such as eyeliners, eyeshadows, and lipsticks.  

For example, spirulina extracts are used as a skin softener and moisturizing agent in Iraya algae body serum by Nykaa E-Retail Pvt. Ltd. (India, nykaa.com). In addition to this, Aubrey Organics, Inc. offers a Blue Green Algae Hair Rescue Conditioning Mask derived from cyanobacterial protein concentrates that help in hair enhancement, prevention and treatment of damage and split ends.

Owing to these factors, sales of spirulina extract are anticipated to increase in the personal care and cosmetics industries over the assessment period. 

Country-wise Insights

How Will Sales of Spirulina Extract Fare Across the U.S.?

As per FMI, North America is expected to be one of the most lucrative markets over the assessment period. The spirulina market in the U.S. is expected to reach US$ 55.7 Mn by 2031.

Consumers in the U.S. are becoming more conscious about the ingredients used in bakery products and the source of the ingredients used. Consumers’ preference for chemical-free bakery and confectionary foods is spurring demand for spirulina extract in the North America market.

What is Driving Demand for Spirulina Extract in Japan?

The Japan spirulina extract market is expected to register strong growth over the forecast period. With a favorable demand outlook from the personal care industry, sales are projected to grow at a CAGR of 15.1% by 2031. Moreover, Japanese firms are aiming to produce spirulina extract in bulk to meet alternative protein demand spurred by the vegan and health-conscious population in the country.

For instance, Innovation Network Corporation of Japan and Mitsubishi Corporation have invested 1.7 Bn Yen in spirulina manufacturing, as spirulina is considered as a vital source of protein, as it has 65% of protein on a dry weight basis. These trends are anticipated to provide impetus to spirulina sales over the forecast period.

What are the Growth Prospects of the Spirulina Extract Market in Germany?

In Germany, manufacturers are engaging in expanding spirulina extract production facilities and investing in R&D to enhance product portfolios, in response to growing demand for spirulina extract in the country.

Sales are estimated to grow at a CAGR of 12.6%, with the market valuation surpassing US$ 9 Mn by the year 2031.

Why is China Considered a Lucrative Spirulina Extract Market?

The China market is estimated to grow at a CAGR of 16.7% during the forecast period of 2021-31. China is one of the leading producers of spirulina, producing more than one-fourth of the total microalgae produce. Growing application of spirulina extract in food sector will create huge opportunity in China.

Will India Continue Exhibiting High Demand for Spirulina Extract?

According to FMI’s analysis, the spirulina extract market in India is estimated to expand at a CAGR of 16.0% over the forecast period of 2021-31.

India is a one of the leading producers of natural food colors including spirulina extract.  Increasing applications of ready-to-eat meals, along with emergence of new regional market entrants is anticipated to continue boosting sales of spirulina extract in India over the forecast period.

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Category-wise Insights

Which Nature of Spirulina Extract is High in Demand Globally?

In terms of nature, the conventional spirulina extract segment is projected to dominate the category segment, with a market share of 80.3% in 2021. Sales of conventional spirulina extract are projected to grow exponentially over the assessment period of 2021-31.

Moreover, safety, flavor and nutritional value associated with spirulina extract are propelling the usage of different spirulina extract in various food products such as food, beverages, meat and meat alternative products and pet foods.         

Will the Candy and Confectionary Segment Remain Dominant in term of Application?

The candy and confectionary segment is anticipated to account for a market share of 24.8% in 2021. Growing applications of spirulina extract in the candy and confectionary sector,  especially in candies, gummies and chocolates will continue augmenting market growth in the upcoming years. Rising preference for natural food ingredients for health and wellbeing among millennials is anticipated to spur demand for spirulina extract over the assessment period.

Competitive Landscape

Food manufacturers operating in the spirulina extract market are actively investing in research and innovation and technical advancements in response to growing customer demand for natural food colours. Companies are increasing their manufacturing capability through strategic collaborations, acquisitions and mergers.. Manufacturers are also focusing on strengthening distribution channels in way to attain a broader customer base. For instance,

  • In 2019, Naturex S.A. extended its variety of food colourings with the adding of a new extraction plant for blue spirulina in France. Naturex's plans to increase its manufacturing capacity is intended to address the growing global demand for clean-label blues and greens.
  • Sensient Food Colors Europe developed proprietary spirulina blue extraction technology, that conforms with both new EU Guidance Notes and FDA quality standards. Owing to this, Sensient has made an investment in a dedicated spirulina blue production line at its Corte Tegge, Italy, facility which specialises in the processing and concentration of aqueous extracts. This latest investment enables the company to cater to growing demand from end use industries.

Scope of Report

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

USD Thousand for Value

Key Countries Covered

US, Canada, Germany, U.K., France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, and South Africa

Key Segments Covered

Nature, Applications, Products Type and Region

Key Companies Profiled

  • Ideal Natural Extract,
  • Sensient Colours LLC.
  • Greenjeeva
  • Algene Biotech
  • Aller Aqua
  • BASF
  • Chr. Hansen A/S,
  • Cyanotech Corporation
  • Zhejiang Binmei Biotechnology Co., Ltd
  • 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
  • Solazyme
  • Japan Algae Co., Ltd.

Report Coverage

Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Spirulina Extract Market by Category

By Nature:

  • Organic
  • Conventional

By Application:

  • Beverage
    • Milk Drinks & Milk Alternatives
    • Alcoholic Beverages
    • Carbonates (Carbonated Soft Drinks)
    • Sports Drinks
    • Coffee & Cocoa
    • Tea
    • Energy Drink
    • Juice Based Drinks
    • Flavored water
    • Enhanced Water
    • Sparkling Waters
  • Bakery, Snacks, & Cereal
    • Breakfast Cereal
    • Bread
    • Cakes & Pastries
    • Cookies
    • Biscuits & Cones
    • Frosting / Icing
    • Crackers & Savory Snacks
  • Candy / Confectionery
    • Panned Candy
    • Chocolate & Compound Coating
    • Gummies
    • Chewing Gum
    • Jellies & Licorice
    • Sprinkles & Sugar
    • Hard Candies / Boiled Sweets
  • Dairy
    • Cheese
    • Ice Cream
    • Milk Drinks & Milk Alternatives
    • Pudding / Custard
    • Dips & Spreads
    • Yogurt
  • Fruit Preparations / Fillings
  • Meat, Poultry, Fish, & Eggs
    • Casings
    • Egg & Egg Substitute
    • Fish / Seafood
    • Jerky
    • Meat Substitute
    • Processed Meat & Poultry
  • Potatoes, Pasta, & Rice
    • Pasta
    • Potato Chips / Crisps
    • Processed Potatoes
    • Rice
  • Sauces, Soups, & Dressings
    • Asian Sauces
    • Barbecue & Steak Sauce
    • Condiments
    • Gravy / Dry Sauce Mix
    • Marinade
    • Oils & Dressings
  • Seasonings
    • Batter
    • Breading and Coating
    • Bouillon / Soup Base / Stock
    • Liquid Smoke
    • Spice Blends / Dry Seasonings
  • Pet Food
    • Extruded / Dry Pet Food
    • Snacks / Treats
    • Wet Food

By region:

  • North America
  • Latin America
  • EMEAI
  • Asia Pacific

Frequently Asked Questions

The global spirulina extract market is anticipated to reach a valuation of US$ 42 Mn in 2021.

Sales of spirulina extract have grown at 14.1% CAGR between 2016 and 2020.

Key trends driving spirulina extract sales include rising application in cosmetics, protein supplements, coupled with growing preference for plant-based ingredients in and food products and beverages.

Demand for spirulina extract in North America is anticipated to surge at a steady pace, and is hold more than 45% of the global spirulina extract market in 2021.

Greece, Japan, India, the U.S. and Spain are the key producer of spirulina extract in the world.  

The U.S., Brazil, the U.K., China and India are key exporters of spirulina extract in the global market.

The U.S., India, Germany, France, and China are the top countries which are driving the growth of global spirulina extract market.

Prominent players include Royal DSM, Algene Biotech, BASF, FMC Corporation, Chr. Hansen A/S, Cyanotech Corporation, Dohler Group, DDW - the Color House, Japan Algae Co., Ltd, DIC Corporation- Earthrise Nutritionals, Fiorio Colori S.p.A, Naturex SA, Solazyme, Aller Aqua, C.B.N. Spirulina Canada Co., Ltd, Hydro Linea Biotech, and Sensient Technologies Corporation.

Japan and South Korea are anticipated to hold 18.7% and 5.7% of the global spirulina extract market in 2031.

Table of Content

1. Market Overview

    1.1. Market Coverage / Taxonomy

    1.2. Market Definition / Scope / Limitations

2. Scenario Assessment of the Impact of COVID-19 on Spirulina Extract Market

    2.1. Global Spirulina Extract Market Forecast Scenario Comparison of Annual Growth Rates for short Term (2021-2023) and Long Term (2024-2031)

        2.1.1. Optimistic Scenario

            2.1.1.1. China

            2.1.1.2. US

            2.1.1.3. EMEAI

            2.1.1.4. Asia Pacific

        2.1.2. Likely Scenario

            2.1.2.1. China

            2.1.2.2. US

            2.1.2.3. EMEAI

            2.1.2.4. Asia Pacific

        2.1.3. Pessimistic Scenario

            2.1.3.1. China

            2.1.3.2. US

            2.1.3.3. EMEAI

            2.1.3.4. Asia Pacific

3. Market Background

    3.1. Market Dynamics

        3.1.1. Drivers

        3.1.2. Restraints

        3.1.3. Opportunity

    3.2. Macro-Economic Factors

        3.2.1. Global GDP Growth Outlook

        3.2.2. Global Industry Value Added

    3.3. Forecast Factors - Relevance & Impact

4. Policy Developments and Regulatory Scenario

    4.1. Key Regulations

    4.2. Spirulina Extract Regulations Around the World

    4.3. Label Claims: Overview

5. Value Chain Analysis

    5.1. Supply Chain Analysis 

    5.2. Operating Margins

    5.3. An Evaluation from Value Chain to Value Network 

    5.4. List of Active Market Participants

6. Global Spirulina Extract Market - Pricing Analysis

    6.1. Regional Pricing Analysis (US$/Metric Tons) By Nature

    6.2. Pricing Break-up

        6.2.1. Manufacturer Level Pricing

        6.2.2. Distributor Level Pricing

    6.3. Global Average Pricing Analysis Benchmark

7. Global Spirulina Extract Market Analysis and Forecast, 2016-2031

    7.1. Historical Market Value & Volume (Metric Tons) Analysis, 2016-2020

    7.2. Current and Future Market Value & Volume (Metric Tons) Forecast, 2021-2031

    7.3. Y-o-Y Growth Trend Analysis

8. Global Spirulina Extract Market Analysis 2016-2020 and Forecast 2021-2031, By Nature 

    8.1. Introduction / Key Findings

    8.2. Historical Market Size (US$’ 000) and Volume Analysis By Nature, 2016 - 2020

    8.3. Current and Future Market Size (US$’ 000) and Volume Analysis and Forecast By Nature, 2021 - 2031

        8.3.1. Organic

        8.3.2. Conventional

    8.4. Market Attractiveness Analysis By Nature 

9. Global Spirulina Extract Market Analysis 2016-2020 and Forecast 2021-2031, By Application

    9.1. Introduction / Key Findings

    9.2. Historical Market Size (US$’ 000) and Volume Analysis By Applications, 2016 - 2020

    9.3. Current and Future Market Size (US$’ 000) and Volume Analysis and Forecast By Applications, 2021 - 2031

        9.3.1. Beverage

        9.3.2. Bakery, Snacks, & Cereal

        9.3.3. Candy / Confectionery

        9.3.4. Dairy

        9.3.5. Fruit Preparations / Fillings

        9.3.6. Meat, Poultry, Fish, & Eggs

        9.3.7. Potatoes, Pasta, & Rices

        9.3.8. Sauces, Soups, & Dressings

        9.3.9. Seasonings

        9.3.10. Pet Food 

    9.4. Market Attractiveness Analysis By Applications 

10. Global Spirulina Extract Market Analysis 2016-2020 and Forecast 2021-2031, By Region

    10.1. Introduction

    10.2. Historical Market Size (US$’ 000) and Volume Analysis By Region, 2016 - 2020

    10.3. Current Market Size (US$’ 000) and Volume Analysis and Forecast By Region, 2021 - 2031

        10.3.1. North America

        10.3.2. Latin America

        10.3.3. EMEAI

        10.3.4. Asia Pacific

    10.4. Market Attractiveness Analysis By Region

11. North America Spirulina Extract Market Analysis 2016-2020 and Forecast 2021-2031

    11.1. Introduction

    11.2. Pricing Analysis

    11.3. Historical Market Size (US$’ 000) and Volume Trend Analysis By Market Taxonomy, 2016 - 2020

    11.4. Market Size (US$’ 000) and Volume Forecast By Market Taxonomy, 2021 - 2031

        11.4.1.  By Country

            11.4.1.1. U.S.

            11.4.1.2. Canada

            11.4.1.3. Mexico

        11.4.2. By Nature

        11.4.3. By Applications

    11.5. Market Attractiveness Analysis

        11.5.1. By Country

        11.5.2. By Nature

        11.5.3. By Applications

    11.6. Market Trends

    11.7. Key Market Participants - Intensity Mapping

    11.8. Drivers and Restraints - Impact Analysis

12. Latin America Spirulina Extract Market Analysis 2016-2020 and Forecast 2021-2031

    12.1. Introduction

    12.2. Pricing Analysis

    12.3. Historical Market Size (US$’ 000) and Volume Trend Analysis By Market Taxonomy, 2016 - 2020

    12.4. Market Size (US$’ 000) and Volume Forecast By Market Taxonomy, 2021 - 2031

        12.4.1.  By Country

            12.4.1.1. Brazil

            12.4.1.2. Peru

            12.4.1.3. Argentina

            12.4.1.4. Chili

            12.4.1.5. Colombia

            12.4.1.6. Rest of Latin America

        12.4.2. By Nature

        12.4.3. By Applications

    12.5. Market Attractiveness Analysis

        12.5.1. By Country

        12.5.2. By Nature

        12.5.3. By Applications

    12.6. Market Trends

    12.7. Key Market Participants - Intensity Mapping

    12.8. Drivers and Restraints - Impact Analysis

13. Europe + Middle East & Africa + India (EMEAI) Spirulina Extract Market Analysis 2016-2020 and Forecast 2021-2031

    13.1. Introduction

    13.2. Pricing Analysis

    13.3. Historical Market Size (US$’ 000) and Volume Trend Analysis By Market Taxonomy, 2016 - 2020

    13.4. Market Size (US$’ 000) and Volume Forecast By Market Taxonomy, 2021 - 2031

        13.4.1.  By Country

            13.4.1.1. Germany

            13.4.1.2. Italy

            13.4.1.3. France

            13.4.1.4. UK

            13.4.1.5. Spain

            13.4.1.6. India

            13.4.1.7. GCC countries

            13.4.1.8. South Africa 

            13.4.1.9. Rest of EMEAI

        13.4.2. By Nature

        13.4.3. By Applications

    13.5. Market Attractiveness Analysis

        13.5.1. By Country

        13.5.2. By Nature

        13.5.3. By Applications

    13.6. Market Trends

    13.7. Key Market Participants - Intensity Mapping

    13.8. Drivers and Restraints - Impact Analysis

14. Asia Pacific Spirulina Extract Market Analysis 2016-2020 and Forecast 2021-2031

    14.1. Introduction

    14.2. Pricing Analysis

    14.3. Historical Market Size (US$’ 000) and Volume Trend Analysis By Market Taxonomy, 2016 - 2020

    14.4. Market Size (US$’ 000) and Volume Forecast By Market Taxonomy, 2021 - 2031

        14.4.1.  By Country

            14.4.1.1. ANZ 

            14.4.1.2. SEA

            14.4.1.3. China

            14.4.1.4. Japan

            14.4.1.5. South Korea

        14.4.2. By Nature

        14.4.3. By Applications

    14.5. Market Attractiveness Analysis

        14.5.1. By Country

        14.5.2. By Nature

        14.5.3. By Applications

    14.6. Market Trends

    14.7. Key Market Participants - Intensity Mapping

    14.8. Drivers and Restraints - Impact Analysis

15. Market Structure Analysis

    15.1. Market Analysis by Tier of Companies 

    15.2. Market Concentration

    15.3. Market Share Analysis of Top Players

    15.4. Market Presence Analysis

        15.4.1. By Regional Footprint of Players

        15.4.2. Product Footprint by Players

        15.4.3. Channel Footprint by Players

16. Competition Analysis

    16.1. Competition Dashboard

    16.2. Pricing Analysis by Competition

    16.3. Competition Benchmarking

    16.4. Competition Deep Dive (Tentative List)

        16.4.1. Allied Biotech Corporation

            16.4.1.1. Overview

            16.4.1.2. Product Portfolio

            16.4.1.3. Profitability by Market Segments (Product/Channel/Region)

            16.4.1.4. Sales Footprint

            16.4.1.5. Strategy Overview

                16.4.1.5.1. Marketing Strategy

                16.4.1.5.2. Product Strategy

                16.4.1.5.3. Channel Strategy

        16.4.2. Archer Daniels Midland Company

            16.4.2.1. Overview

            16.4.2.2. Product Portfolio

            16.4.2.3. Profitability by Market Segments (Product/Channel/Region)

            16.4.2.4. Sales Footprint

            16.4.2.5. Strategy Overview

                16.4.2.5.1. Marketing Strategy

                16.4.2.5.2. Product Strategy

                16.4.2.5.3. Channel Strategy

        16.4.3. DIC Corporation (BASF SE)

            16.4.3.1. Overview

            16.4.3.2. Product Portfolio

            16.4.3.3. Profitability by Market Segments (Product/Channel/Region)

            16.4.3.4. Sales Footprint

            16.4.3.5. Strategy Overview

                16.4.3.5.1. Marketing Strategy

                16.4.3.5.2. Product Strategy

                16.4.3.5.3. Channel Strategy

        16.4.4. BioconColours

            16.4.4.1. Overview

            16.4.4.2. Product Portfolio

            16.4.4.3. Profitability by Market Segments (Product/Channel/Region)

            16.4.4.4. Sales Footprint

            16.4.4.5. Strategy Overview

                16.4.4.5.1. Marketing Strategy

                16.4.4.5.2. Product Strategy

                16.4.4.5.3. Channel Strategy

        16.4.5. DDW, The Colour House

            16.4.5.1. Overview

            16.4.5.2. Product Portfolio

            16.4.5.3. Profitability by Market Segments (Product/Channel/Region)

            16.4.5.4. Sales Footprint

            16.4.5.5. Strategy Overview

                16.4.5.5.1. Marketing Strategy

                16.4.5.5.2. Product Strategy

                16.4.5.5.3. Channel Strategy

        16.4.6. Döhler Group

            16.4.6.1. Overview

            16.4.6.2. Product Portfolio

            16.4.6.3. Profitability by Market Segments (Product/Channel/Region)

            16.4.6.4. Sales Footprint

            16.4.6.5. Strategy Overview

                16.4.6.5.1. Marketing Strategy

                16.4.6.5.2. Product Strategy

                16.4.6.5.3. Channel Strategy

        16.4.7. GNT International B.V.

            16.4.7.1. Overview

            16.4.7.2. Product Portfolio

            16.4.7.3. Profitability by Market Segments (Product/Channel/Region)

            16.4.7.4. Sales Footprint

            16.4.7.5. Strategy Overview

                16.4.7.5.1. Marketing Strategy

                16.4.7.5.2. Product Strategy

                16.4.7.5.3. Channel Strategy

        16.4.8. Kalsec Inc.

            16.4.8.1. Overview

            16.4.8.2. Product Portfolio

            16.4.8.3. Profitability by Market Segments (Product/Channel/Region)

            16.4.8.4. Sales Footprint

            16.4.8.5. Strategy Overview

                16.4.8.5.1. Marketing Strategy

                16.4.8.5.2. Product Strategy

                16.4.8.5.3. Channel Strategy

        16.4.9. DSM

            16.4.9.1. Overview

            16.4.9.2. Product Portfolio

            16.4.9.3. Profitability by Market Segments (Product/Channel/Region)

            16.4.9.4. Sales Footprint

            16.4.9.5. Strategy Overview

                16.4.9.5.1. Marketing Strategy

                16.4.9.5.2. Product Strategy

                16.4.9.5.3. Channel Strategy

        16.4.10. Naturex S.A.

            16.4.10.1. Overview

            16.4.10.2. Product Portfolio

            16.4.10.3. Profitability by Market Segments (Product/Channel/Region)

            16.4.10.4. Sales Footprint

            16.4.10.5. Strategy Overview

                16.4.10.5.1. Marketing Strategy

                16.4.10.5.2. Product Strategy

                16.4.10.5.3. Channel Strategy

        16.4.11. ROHA ( A JJT Group Company)

            16.4.11.1. Overview

            16.4.11.2. Product Portfolio

            16.4.11.3. Profitability by Market Segments (Product/Channel/Region)

            16.4.11.4. Sales Footprint

            16.4.11.5. Strategy Overview

                16.4.11.5.1. Marketing Strategy

                16.4.11.5.2. Product Strategy

                16.4.11.5.3. Channel Strategy

        16.4.12. San-Ei Gen F.F.I., Inc.

            16.4.12.1. Overview

            16.4.12.2. Product Portfolio

            16.4.12.3. Profitability by Market Segments (Product/Channel/Region)

            16.4.12.4. Sales Footprint

            16.4.12.5. Strategy Overview

                16.4.12.5.1. Marketing Strategy

                16.4.12.5.2. Product Strategy

                16.4.12.5.3. Channel Strategy

        16.4.13. Sensient Colours LLC.

            16.4.13.1. Overview

            16.4.13.2. Product Portfolio

            16.4.13.3. Profitability by Market Segments (Product/Channel/Region)

            16.4.13.4. Sales Footprint

            16.4.13.5. Strategy Overview

                16.4.13.5.1. Marketing Strategy

                16.4.13.5.2. Product Strategy

                16.4.13.5.3. Channel Strategy

        16.4.14. Symrise AG

            16.4.14.1. Overview

            16.4.14.2. Product Portfolio

            16.4.14.3. Profitability by Market Segments (Product/Channel/Region)

            16.4.14.4. Sales Footprint

            16.4.14.5. Strategy Overview

                16.4.14.5.1. Marketing Strategy

                16.4.14.5.2. Product Strategy

                16.4.14.5.3. Channel Strategy

        16.4.15. Chr. Hansen Holding A/S

            16.4.15.1. Overview

            16.4.15.2. Product Portfolio

            16.4.15.3. Profitability by Market Segments (Product/Channel/Region)

            16.4.15.4. Sales Footprint

            16.4.15.5. Strategy Overview

                16.4.15.5.1. Marketing Strategy

                16.4.15.5.2. Product Strategy

                16.4.15.5.3. Channel Strategy

17. Assumptions and Acronyms Used

18. Research Methodology

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List of Tables

Table 1: Global Spirulina Extract Market Value (US$' 000) and Forecast by Region, 2016–2020 

Table 2: Global Spirulina Extract Market Value (US$' 000) and Forecast by Region, 2021–2031

Table 3: Global Spirulina Extract Market Volume (Metric Tons) and Forecast by Region, 2016–2020 

Table 4: Global Spirulina Extract Market Volume (Metric Tons) and Forecast by Region, 2021–2031

Table 5: Global Spirulina Extract Market Value (US$' 000) and Forecast by Nature, 2016–2020 

Table 6: Global Spirulina Extract Market Value (US$' 000) and Forecast by Nature, 2021–2031

Table 7: Global Spirulina Extract Market Volume (Metric Tons) and Forecast by Nature, 2016–2020 

Table 8: Global Spirulina Extract Market Volume (Metric Tons) and Forecast by Nature, 2021–2031

Table 9: Global Spirulina Extract Market Value (US$' 000) and Forecast by Application, 2016–2020 

Table 10: Global Spirulina Extract Market Value (US$' 000) and Forecast by Application, 2021–2031

Table 11: Global Spirulina Extract Market Volume (Metric Tons) and Forecast by Application, 2016–2020 

Table 12: Global Spirulina Extract Market Volume (Metric Tons) and Forecast by Application, 2021–2031

Table 17: North America Spirulina Extract Market Value (US$' 000) and Forecast by Country, 2016–2020 

Table 18: North America Spirulina Extract Market Value (US$' 000) and Forecast by Country, 2021–2031

Table 19: North America Spirulina Extract Market Volume (Metric Tons) and Forecast by Country, 2016–2020 

Table 20: North America Spirulina Extract Market Volume (Metric Tons) and Forecast by Country, 2021–2031

Table 21: North America Spirulina Extract Market Value (US$' 000) and Forecast by Nature, 2016–2020 

Table 22: North America Spirulina Extract Market Value (US$' 000) and Forecast by Nature, 2021–2031

Table 23: North America Spirulina Extract Market Volume (Metric Tons) and Forecast by Nature, 2016–2020 

Table 24: North America Spirulina Extract Market Volume (Metric Tons) and Forecast by Nature, 2021–2031

Table 25: North America Spirulina Extract Market Value (US$' 000) and Forecast by Application, 2016–2020 

Table 26: North America Spirulina Extract Market Value (US$' 000) and Forecast by Application, 2021–2031

Table 27: North America Spirulina Extract Market Volume (Metric Tons) and Forecast by Application, 2016–2020 

Table 28: North America Spirulina Extract Market Volume (Metric Tons) and Forecast by Application, 2021–2031

Table 29: Latin America (Ex. Mexico) Spirulina Extract Market Value (US$' 000) and Forecast by Country, 2016–2020 

Table 30: Latin America (Ex. Mexico) Spirulina Extract Market Value (US$' 000) and Forecast by Country, 2021–2031

Table 31: Latin America (Ex. Mexico) Spirulina Extract Market Volume (Metric Tons) and Forecast by Country, 2016–2020 

Table 32: Latin America (Ex. Mexico) Spirulina Extract Market Volume (Metric Tons) and Forecast by Country, 2021–2031

Table 33: Latin America (Ex. Mexico) Spirulina Extract Market Value (US$' 000) and Forecast by Nature, 2016–2020 

Table 34: Latin America (Ex. Mexico) Spirulina Extract Market Value (US$' 000) and Forecast by Nature, 2021–2031

Table 35: Latin America (Ex. Mexico) Spirulina Extract Market Volume (Metric Tons) and Forecast by Nature, 2016–2020 

Table 36: Latin America (Ex. Mexico) Spirulina Extract Market Volume (Metric Tons) and Forecast by Nature, 2021–2031

Table 37: Latin America (Ex. Mexico) Spirulina Extract Market Value (US$' 000) and Forecast by Application, 2016–2020 

Table 38: Latin America (Ex. Mexico) Spirulina Extract Market Value (US$' 000) and Forecast by Application, 2021–2031

Table 39: Latin America (Ex. Mexico) Spirulina Extract Market Volume (Metric Tons) and Forecast by Application, 2016–2020 

Table 40: Latin America (Ex. Mexico) Spirulina Extract Market Volume (Metric Tons) and Forecast by Application, 2021–2031

Table 41: Europe Spirulina Extract Market Value (US$' 000) and Forecast by Country, 2016–2020 

Table 42: Europe Spirulina Extract Market Value (US$' 000) and Forecast by Country, 2021–2031

Table 43: Europe Spirulina Extract Market Volume (Metric Tons) and Forecast by Country, 2016–2020 

Table 44: Europe Spirulina Extract Market Volume (Metric Tons) and Forecast by Country, 2021–2031

Table 45: Europe Spirulina Extract Market Value (US$' 000) and Forecast by Nature, 2016–2020 

Table 46: Europe Spirulina Extract Market Value (US$' 000) and Forecast by Nature, 2021–2031

Table 47: Europe Spirulina Extract Market Volume (Metric Tons) and Forecast by Nature, 2016–2020 

Table 48: Europe Spirulina Extract Market Volume (Metric Tons) and Forecast by Nature, 2021–2031

Table 49: Europe Spirulina Extract Market Value (US$' 000) and Forecast by Application, 2016–2020 

Table 50: Europe Spirulina Extract Market Value (US$' 000) and Forecast by Application, 2021–2031

Table 51: Europe Spirulina Extract Market Volume (Metric Tons) and Forecast by Application, 2016–2020 

Table 52: Europe Spirulina Extract Market Volume (Metric Tons) and Forecast by Application, 2021–2031

Table 53: Asia Pacific Spirulina Extract Market Value (US$' 000) and Forecast by Country, 2016–2020 

Table 54: Asia Pacific Spirulina Extract Market Value (US$' 000) and Forecast by Country, 2021–2031

Table 55: Asia Pacific Spirulina Extract Market Volume (Metric Tons) and Forecast by Country, 2016–2020 

Table 56: Asia Pacific Spirulina Extract Market Volume (Metric Tons) and Forecast by Country, 2021–2031

Table 57: Asia Pacific Spirulina Extract Market Value (US$' 000) and Forecast by Nature, 2016–2020 

Table 58: Asia Pacific Spirulina Extract Market Value (US$' 000) and Forecast by Nature, 2021–2031

Table 59: Asia Pacific Spirulina Extract Market Volume (Metric Tons) and Forecast by Nature, 2016–2020 

Table 60: Asia Pacific Spirulina Extract Market Volume (Metric Tons) and Forecast by Nature, 2021–2031

Table 61: Asia Pacific Spirulina Extract Market Value (US$' 000) and Forecast by Application, 2016–2020 

Table 62: Asia Pacific Spirulina Extract Market Value (US$' 000) and Forecast by Application, 2021–2031

Table 63: Asia Pacific Spirulina Extract Market Volume (Metric Tons) and Forecast by Application, 2016–2020 

Table 64: Asia Pacific Spirulina Extract Market Volume (Metric Tons) and Forecast by Application, 2021–2031

Nandini Roy Choudhury
Principal Consultant
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List of Charts

Figure 01: Global Spirulina Extract Market Size (US$ '000), Volume (Metric Tons), and Incremental $ Opportunity (US$ '000), 2016-2031

Figure 02: Global Spirulina Extract Market Share and BPS Analysis by Nature  – 2021 & 2031

Figure 03: Global Spirulina Extract Market Attractiveness Analysis by Nature, 2021-2031 

Figure 04: Global Spirulina Extract Market Conventional Incremental $ Opportunity, 2020-2031 

Figure 05: Global Spirulina Extract Market Organic Incremental $ Opportunity, 2020-2031 

Figure 06: Global Spirulina Extract Market Share and BPS Analysis by Applications – 2021 & 2031

Figure 07: Global Spirulina Extract Market Attractiveness Analysis by Applications, 2021-2031 

Figure 08: Global Spirulina Extract Market Beverage Incremental $ Opportunity, 2020-2031 

Figure 09: Global Spirulina Extract Market Bakery, Snacks, & Cereal Incremental $ Opportunity, 2020-2031 

Figure 10: Global Spirulina Extract Market Candy / Confectionery Incremental $ Opportunity, 2020-2031 

Figure 11: Global Spirulina Extract Market Dairy Incremental $ Opportunity, 2020-2031 

Figure 12: Global Spirulina Extract Market Fruit Preparations / Fillings Incremental $ Opportunity, 2020-2031 

Figure 13: Global Spirulina Extract Market Meat, Poultry, Fish, & Eggs Incremental $ Opportunity, 2020-2031 

Figure 14: Global Spirulina Extract Market Potatoes, Pasta, & Rice Incremental $ Opportunity, 2020-2031 

Figure 15: Global Spirulina Extract Market Sauces, Soups, & Dressings Incremental $ Opportunity, 2020-2031 

Figure 16: Global Spirulina Extract Market Seasonings Incremental $ Opportunity, 2020-2031 

Figure 17: Global Spirulina Extract Market Pet Food Incremental $ Opportunity, 2020-2031 

Figure 18: Global Spirulina Extract Market Share and BPS Analysis by Applications – 2021 & 2031

Figure 19: Global Spirulina Extract Market Attractiveness Analysis by Applications, 2021-2031 

Figure 20: Global Spirulina Extract Market Spirulina Incremental $ Opportunity, 2020-2031 

Figure 21: Global Spirulina Extract Market Value Share (%) and BPS Analysis by Region, 2016, 2021 & 2031

Figure 22: Global Spirulina Extract Market Y-o-Y Growth (%) Projections by Segment, 2021-2031 

Figure 23: North America Spirulina Extract Market Value (US$ '000), Volume (MT) Forecast and Analysis, 2021-2031 

Figure 24: U.S. Spirulina Extract Market Incremental $ Opportunity, 2021-2031 

Figure 25: Canada Spirulina Extract Market Incremental $ Opportunity, 2021-2031 

Figure 26: Mexico Spirulina Extract Market Incremental $ Opportunity, 2021-2031

Figure 27: North America Spirulina Extract Market Attractiveness Analysis by Nature, 2021-2031 

Figure 28: North America Spirulina Extract Market Attractiveness Analysis by Application, 2021-2031 

Figure 29: Latin America Spirulina Extract Market Value (US$ '000), Volume (MT) Forecast and Analysis, 2021-2031 

Figure 30: Brazil Spirulina Extract Market Incremental $ Opportunity, 2021-2031 

Figure 31: Peru Spirulina Extract Market Incremental $ Opportunity, 2021-2031 

Figure 32: Argentina Spirulina Extract Market Incremental $ Opportunity, 2021-2031 

Figure 33: Chili Spirulina Extract Market Incremental $ Opportunity, 2021-2031 

Figure 34: Colombia Spirulina Extract Market Incremental $ Opportunity, 2021-2031 

Figure 35: Rest of Latin America Spirulina Extract Market Incremental $ Opportunity, 2021-2031 

Figure 36: Latin America Spirulina Extract Market Attractiveness Analysis by Nature, 2021-2031 

Figure 37: Latin America Spirulina Extract Market Attractiveness Analysis by Application, 2021-2031 

Figure 38: EMEAI Spirulina Extract Market Value (US$ '000), Volume (MT) Forecast and Analysis, 2021-2031 

Figure 39: Germany Spirulina Extract Market Incremental $ Opportunity, 2021-2031 

Figure 40: Italy Spirulina Extract Market Incremental $ Opportunity, 2021-2031 

Figure 41: France Spirulina Extract Market Incremental $ Opportunity, 2021-2031 

Figure 42: UK Spirulina Extract Market Incremental $ Opportunity, 2021-2031 

Figure 43: Spain Spirulina Extract Market Incremental $ Opportunity, 2021-2031 

Figure 44: India Spirulina Extract Market Incremental $ Opportunity, 2021-2031 

Figure 45: GCC  Countries Spirulina Extract Market Incremental $ Opportunity, 2021-2031 

Figure 46: South Africa Spirulina Extract Market Incremental $ Opportunity, 2021-2031 

Figure 47: Rest of EMEAI Spirulina Extract Market Incremental $ Opportunity, 2021-2031

Figure 48: EMEAI Spirulina Extract Market Attractiveness Analysis by Nature, 2021-2031 

Figure 49: EMEAI Spirulina Extract Market Attractiveness Analysis by Application, 2021-2031 

Figure 50: Asia Pacific Spirulina Extract Market Value (US$ '000), Volume (MT) Forecast and Analysis, 2021-2031 

Figure 51: ANZ  Spirulina Extract Market Incremental $ Opportunity, 2021-2031 

Figure 52: SEA Spirulina Extract Market Incremental $ Opportunity, 2021-2031 

Figure 53: Japan Spirulina Extract Market Incremental $ Opportunity, 2021-2031 

Figure 54: China Spirulina Extract Market Incremental $ Opportunity, 2021-2031 

Figure 55: South Korea Spirulina Extract Market Incremental $ Opportunity, 2021-2031

Figure 56: Asia Pacific Spirulina Extract Market Attractiveness Analysis by Nature, 2021-2031 

Figure 57: Asia Pacific Spirulina Extract Market Attractiveness Analysis by Application, 2021-2031 

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