Dallas, Texas, Sept. 12, 2019 (GLOBE NEWSWIRE) -- On the back of rapidly rising population, need for adequate food with wholesome nutrition remains a pertinent challenge, contributing consistently towards micronutrient deficiency, especially amongst children. Several studies are therefore underway to develop protein rich food supplements to address and effectively eliminate such stark gaps in micronutrinet availability. Of-late several studies are specifically considering the efficacy of spirulina extract to combat such shortcomings, thereby paving sustainable growth in global spirulina extract market. The development is gaining much preference across mid and low income countries where food adequacy is starkly deficient.
Naturex Expands its Spirulina Extract Offerings with Improved Production Capabilities
Based Market participants are fast diversifying their production capacities for better throughput. IN a recent development, Naturex has lately expanded its product line with the inclusion of blue hued spirulina based coloring agents. The development is poised to usher in large scale end-use need fortification, allowing the global spirulina extract market to witness steady growth.
The report lends a comprehensive overview of several catalysts that facilitate insurmountable growth trend in the coming years. Besides scouting across growth propellants, the report is a comprehensive handbook of pertinent cues targeted to aid wide decision making amongst players. A close review of market segments and competition spectrum have also been entailed in the subsequent sections of the report to encourage impeccable market decisions and sustainable revenue pools in global spirulina market.
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Spirulina is rich in chlorophyll, phycocyanin, and beta-carotene and is often used as a source of natural color. Edible color Linablue, used in ice creams and confectionaries, is mainly produced from spirulina. The Global Spirulina Market is segmented by application such as nutraceuticals, food, cosmetics, agriculture, feed, and others. Moreover, the study provides an analysis of the spirulina market in the emerging and established markets across the world, including North America, Europe, Asia-Pacific, South America, Middle East & Africa.
Global Spirulina Market is expected to grow at a CAGR of 6.97%, during the forecast period of 2019 –2024.
- The growing demand for natural and clean label colors has recreated a demand for spirulina extracts. Stringent regulations and a ban on synthetic food additives by the European and the United State governments have opened the gates for the demand for natural additives.
- Based on the application areas, nutraceuticals and food sectors are expected to be promising end users of spirulina, due to the rapid development of algae-based superfoods, heightened consumer’s interest toward natural & clean-label products, and the regulatory encouragement in terms of enabling policies and implementation framework.
Increasing demand for Spirulina Extracts
Increasing applications of spirulina, higher nutrition value of spirulina, approval of spirulina use in the food and beverage industry by regulatory agencies, rising demand due to cost effectiveness, favorable government initiatives for the production of spirulina, increasing launch of new varieties of natural colors produced from spirulina and increasing awareness of the health benefits associated with spirulina making it a super food are pushing the growth of the global market. Moreover, the growing disposable incomes and awareness of the natural product efficiency in the developing economies are creating opportunities for growth of the spirulina during the forecast period. Innovations and funding supporting research are also major avenues to explore in the coming years.
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North America and Europe Holds the Major Share in Spirulina Extracts Market
North American and Europe regions are the major producers of spirulina extracts, due to their favorable climatic conditions and wide applications of the products. The North American spirulina extract market exhibits the United States as the dominating country and Canada as a dynamic one, considering the regulatory changes and the change in the colorant offerings from the key market players. Due to the ban on chemicals as colorants in the food industry, the United States and Europe are booming markets. The demand for clean label and natural ingredients are expected to drive the market in the forecast period.
Competitive Landscape
Some of the major key players in spirulina extract market are Algene Biotech, Aller Aqua, BASF, Chr. Hansen A/S, Cyanotech Corporation, 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, and Solazyme, among others.
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Major points from Table of Contents:
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
3.1 Market Overview
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
Continued…
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