According to a new market report published by Credence Research “Spirulina Extracts Market – Growth, Future Prospects, Competitive Analysis, and Forecast 2015 – 2021,” the spirulina extracts market is expected to reach over US$ 0.20 Bn by 2022, expanding at a CAGR of more than 3.5% from 2016 to 2022.
Browse the full Spirulina Extracts Market for Dietary Supplements & Neutraceuticals, Confectionary, Cosmetics, Bio-Fertilizer and Aquaculture Feed- Growth, Future Prospects, Competitive Analysis, and Forecast 2015 – 2021 report at http://www.credenceresearch.com/report/spirulina-extracts-market
Spirulina, green blue algae is also known as cyanobacterium is safe for consumption by animals and humans. Two species of spirulina exists namely Arthrospira maxima and Arthrospira platensis which are naturally available as well as cultivated worldwide. Arthrospira is cultivated on a large scale worldwide and is used as a dietary supplement as well as whole food. It grows naturally in alkaline waters of ponds and lakes of warmer regions. It is in the form of tiny filaments coiled in spirals and is made available to the market in the form of flakes, tablets and powder.
Spirulina extracts find application in various end-use industries such as food, neutraceuticals, cosmetics, bio-fertilizers and aquaculture feed among others. Spirulina extracts have been used globally for centuries in the food industry. Spirulina consist of about 60% protein and 15 to 20% carbohydrates of its dry weight. Hence, it is widely used in the manufacture of dietary supplements and neutraceuticals. Growing demand from the food industry is another factor boosting growth of spirulina extracts in the market. Growing demand for natural food colorants has led to high demand for spirulina extracts from the food industry in Asia Pacific, especially Japan. Rising health awareness among the population has also led to high demand for spirulina dietary supplements thereby promoting growth of global spirulina extracts market. Other applications such as cosmetics, bio-fertilizers and aquaculture feed are also projected to fuel demand for spirulina extracts in the near future.
Asia Pacific dominated the global spirulina extracts market in 2015 and is expected to retain its position in the near future. Growing demand for spirulina extracts as food colorant from the food industry is the major factor driving the growth of global spirulina extracts market in the region. Stringent regulations in Japan for use of synthetic colorants have led to increased demand for natural colorants, thereby contributing to the growth of spirulina extracts in the market. Europe followed Asia Pacific in terms of demand and is expected to increase during the forecast period. Growing aging population and rising demand for spirulina dietary supplements has led to booming growth of spirulina extracts market in the region. Strict regulations on consumption of synthetic colorants in the food industry are also one of the major factors fueling market demand for spirulina extracts in the region. North America, Middle East & Africa and Latin America are also anticipated to boost market demand for spirulina extracts during the forecast period from 2016 to 2022.
- Manufacture of Dietary Supplements & Nutraceuticals
- Ingredient in confectionary
- Manufacture of cosmetic products
- Opportunities from increasing research activities for other applications of spirulina in the market