Global Spirulina Extracts Market is Expected to Thrive at a CAGR of 9.8% by 2023
A recent report by KD market insights titled as "Spirulina Extracts Market – By Form (Powder, Liquid) By Application (Dietary Supplements & Nutraceutical, Confectionary, Cosmetics, Bio-fertilizer & Aquaculture Feed) & Global Region - Market Size, Share, Trends and Forecast 2018-2023" provides the key trends, opportunities and challenges market will face in the forecasted period of 6 years i.e. 2018-2023. The study also provides the Spirulina Extracts Market competitors share and region wise analysis around the globe.
Global spirulina extracts market accounted for USD 198.7 million in 2017 and is estimated to reach USD 273.2 million in 2023, registering a compound annual growth rate (CAGR) of 9.8% between 2017 and 2023.
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Growth Drivers & Barriers
Rising consumer awareness for natural food as compared to synthetic food is anticipated to drive the growth of spirulina extracts market. Further, with health-promoting properties of natural food colors is also believed to positively impact the growth of the market. Moreover, food industry is witnessing the demand for clean label products which bodes well for the growth of spirulina extract market.
Favorable government regulations in many developed nations such as U.S. are supplementing the growth of the market. Further, growing demand for blue color mainly in confectionery products, desserts and beverages is set to spearhead the spirulina extracts market.On the contrary, high cost of spirulina extracts is projected to hamper the growth of the market. Addition to that, spirulina extract is less stable under the effect the light. This factor is also believed to negatively impact the growth of the market.
Regional Outlook:
In the terms of geography, the spirulina extracts market is analyzed into North America, Latin America, Asia Pacific, Europe and Middle East & Africa. Among these regions, North America is slated to account for highest percentage of market share in overall spirulina extracts market during the forecast period. U.S. accounted for major market share in North America spirulina extracts market. Europe spirulina extracts market accounted for second position in overall spirulina extracts market in 2017.
Segmentation
The research offers a comprehensive analysis of spirulina extracts market with respect to following sub-markets:
By Form
Powder
Liquid
By Application
Dietary Supplements & Nutraceutical
Confectionary
Cosmetics
Bio-fertilizer & Aquaculture Feed
By Geography
North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific)
Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)
Competitive Landscape
The report profiles various major market players such as
DDW The Color House
Chr. Hansen A/S
DIC Corporation
Naturex S.A.
Cargill, Inc.
Sensient Technologies Corporation
GNT Group, Roha Dyechem Pvt. Ltd.
Naturalin Bio-Resources Co., Ltd.
Hydrolina Biotech Private Limited
Algene Biotech
Others Major and Niche Key Players
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Table of Contents@
Research Methodology
Market Definition and List of Abbreviations
Executive Summary
Growth Drivers & Barriers in Global Spirulina Extracts Market
Global Spirulina Extracts Market Trends
Opportunities in Global Spirulina Extracts Market
Recent Industry Activities, 2018
Porter's Five Forces Analysis
Global Spirulina Extracts Market Value (USD Billion) Forecast & Y-o-Y Growth Analysis, 2017-2023
8. Global Spirulina Extracts Market Segmentation Analysis, By Form
8.1. Introduction
8.2. Market Attractiveness, By Form
8.3. BPS Analysis, By Form
8.4. Powder Market Value (USD Billion) Forecast & Y-o-Y Growth Analysis, 2017-2023
8.5. Liquid Market Value (USD Billion) Forecast & Y-o-Y Growth Analysis, 2017-2023
9. Global Spirulina Extracts Market Segmentation Analysis, By Application
9.1. Introduction
9.2. Market Attractiveness, By Application
9.3. BPS Analysis, By Application
9.4. Dietary Supplements & Nutraceutical Market Value (USD Billion) Forecast & Y-o-Y Growth Analysis, 2017-2023
9.5. Confectionary Market Value (USD Billion) Forecast & Y-o-Y Growth Analysis, 2017-2023
9.6. Cosmetics Market Value (USD Billion) Forecast & Y-o-Y Growth Analysis, 2017-2023
9.7. Bio-fertilizer & Aquaculture Feed Market Value (USD Billion) Forecast & Y-o-Y Growth Analysis, 2017-2023
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