Global Spirulina Extract Market analysis and forecast report (2016-2021)

Global Spirulina Extract Market analysis and forecast report (2016-2021)
Global Spirulina Extract Market By Application,By Product, And By Region - Global Industry Analysis, Size,
Share, Growth, Trends, And Forecasts (2016–2021)
The Global Spirulina Extract Market size was around USD XX billion in 2016. It is expected to grow at a
CAGR of 6.1% to reach USD XX billion by 2021.
Spirulina is a drum-dried cyanobacterium (blue-green algae) consumed by humans which is made
primarily from two species of cyanobacteria: Arthrospira platensis and Arthrospira maxima. Earlier
classified as the blue-green algae, it is not an algae. It grows naturally in the alkaline waters of lakes in
warm regions. Measuring about 0.1 mm across, it takes the form of tiny green filaments coiled in spirals
of varying tightness and number, depending on the strain. Spirulina has very high protein content,
considerably low in calories and cholesterol, and high in enzymes, minerals (sodium, iron, calcium, and
magnesium), and phenolic acids, that have antioxidant properties. Spirulina also has very high levels
beta-carotene, a natural antioxidant, which the body converts to vitamin A and plays a protective role in
the human body.
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Performance and stamina levels are elevated when Spirulina is taken as a sports supplement. In the past
two and a half decade Spirulina few nutrition specialists have recommended Spirulina nutrition against
difficult diseases like liver disorders, allergic reactions, oral cancer and many more. This claim is also
corroborated by both National Aeronautics and Space Administration (NASA) and the European Space
Agency (ESA) which are analysing Spirulina as one of the key foods for long-term space missions or in
case of colonization of other planets. Studies have shown that spirulina can lower cholesterol levels,
stimulate the immune system and be effective in the treatment of heart disease, premenstrual stress,
obesity, arthritis, anaemia and osteoporosis. Spirulina powder has great use in diary industry to
substitute synthetic additives viz., colours, stabilizers and emulsifiers etc., employed in various dairy
products.
Spirulina is easily digestible high protein product with high levels of β-carotene, vitamin B12, iron and
trace minerals and the rare vital fatty acid γ-linoleic acid (GLA). Additionally, it has no religious issues or
negative cultural regarding its consumption. Its production is eco-friendly, very efficient in terms of land
occupation, water use and energy consumption in contrast to traditional terrestrial crops. Its production
is particularly suitable to saline and alkaline conditions which are often unfavourable to traditional crops
and are often occupied by disadvantaged people vulnerable to natural disasters. Its manufacture can be
done at a number of different levels, from household “pot culture” to intensive commercial
development over large areas. It can be integrated with rural organic waste treatment processes to
improve both energy transfer efficiencies and environmental conditions. These advantages are the
primary factors driving the growth of this market. Moreover, rising consumer awareness for natural food
in contrast to synthetic food conjoined with health-promoting properties of natural food colours as well
as the growing demand for clean label products and savoury government regulations like FDA’s approval
to use spirulina to impart blue colour in candy in U.S. as an alternative to synthetic FD&C Blue#1 are the
secondary factors fuelling the growth of this market.

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The most commonly reported negative effects are muscle pain, flushing of the face, headache, sweating,
and difficulty concentrating. People who have the metabolic disorder phenylketonuria should avoid this
product. It is not recommended for people who are allergic to seaweed or seafood. Very little is known
about its effects during pregnancy and breast feeding. These are the primary factors hindering the
growth of this market. Blue-green algae harvested in uncontrolled culture conditions may be
contaminated with heavy metals that can lead to liver damage, diarrhoea and vomiting. Furthermore,
higher cost associated with the production of natural colours in comparison to the synthetic colours
along with their unstable nature are the secondary factor responsible for a sluggish market growth.
This market is broadly classified into two categories – by form and by application. By form there are
further two sub-segments namely – powder and liquid. In 2016, powder segment lead the market in
terms of revenue share contribution and is further projected to remain dominant during the
aforementioned forecast period. This is due to growing usage of powder form in products for example,
bakery, confectionery and desserts. Spirulina extract is commercially being utilized for large scale
manufacture of blue colour in food and beverages, in which powdered formulation suits the best in
contrast to the liquid extract. Rising applications of spirulina extract as dietary supplement among
consumers is further encouraging its adoption as a dietary supplement in liquid form, thus resulting in
significant growth of liquid segment in the market. Moreover, liquid spirulina extract utilization in
beverages is likely to increase considerably, thus resulting in extensive R&D among manufacturers.
Liquid extracts are more stable and advantageous as compared to powder extract and are likely to
capture more market share in the forecast period. By application, the market is segmented into
Confectionery, Cosmetic, Dietary Supplements & Nutraceutical, Bio-fertilizer, and Aquaculture Feed.
Dietary supplements and nutraceutical category commanded the market followed by bio-fertilizer and
aquaculture feed category. Bio-fertilizer and aquaculture feed category collectively commanded 45% of
the total spirulina extract market contribution in 2016.
Based on the geography, the market is segmented into North America, Europe, Latin America, Asia
Pacific and Middle East and Africa. In 2016, Europe was the leading market followed by North America
and Asia Pacific. Asia Pacific and North America commanded 50% market share. Market growth in
Europe is fuelled by factors like research and development for better formulations especially for
confectionery products, ban on artificial colors application, compliance with European regulations and
others. Additionally, The United States FDA approval for spirulina as a colouring agent in varied food and
beverage applications improves market in North America. Rising demand for spirulina extracts from the
food and cosmetic industry in North America is also expected to raise the demand for spirulina extracts
in this region. Moreover, in Japan compulsory usage of natural food colorants in food and beverages has
increased the demand for spirulina extracts, thus spurring growth of spirulina extracts market.
Companies operating in the spirulina extracts market are DDW The Color House, Sensient Technologies
Corporation, Chr. Hansen A/S, DIC Corporation.
Market Segmentation
1)Form
Introduction
Powder

Liquid
Y-o-Y Growth Analysis, By Form
Market Attractiveness Analysis, By Form
Market Share Analysis, By Form
2) Application
Introduction
Dietary Supplements & Nutraceutical
Confectionery
Cosmetic
Bio-fertilizer
Aquaculture Feed
Y-o-Y Growth Analysis, By Application
Market Attractiveness Analysis, By Application
Market Share Analysis, By Application
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Scope of the report:
Global, regional and country-level analysis and forecasts of the study market; providing Insights
on the major countries/regions in which this industry is blooming and to also identify the
regions that are still untapped
Segment-level analysis in terms by type, packaging and meat type along with market size
forecasts and estimations to detect key areas of industry growth in detail
Identification of key drivers, restraints, opportunities and challenges (DROC) in the market and
their impact on shifting market dynamics
Study of the effect of exogenous and endogenous factors that affect the global market; which
includes broadly demographic, economic and political, among other macro-environmental
factors presented in an extensive PESTLE Analysis
Study the micro environment factors that determine the overall profitability of an Industry,
using Porter’s five forces analysis for analyzing the level of competition and business strategy
development
A comprehensive list of key market players along with their product portfolio, current strategic
interests, key financial information, legal issues, SWOT analysis and analyst overview to study
and sustain the market environment
Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field
along with new product launches, comparative financial studies and recent developments in the
market by the major companies
An executive summary, abridging the entire report in such a way that decision-making
personnel can rapidly become acquainted with background information, concise analysis and
main conclusions
Expertly devised analyst overview along with Investment opportunities to provide both
individuals and organizations a strong financial foothold in the market

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