Deals of spirulina extract are relied upon to develop consistently, arriving at an absolute valuation of US$ 42, Mn in 2021. Interest for spirulina extract is relied upon to develop at a 14.6% CAGR over the appraisal time frame, as per Future Market Insights (FMI).
Rising wellbeing worries about food are pushing interest for clean name food items and fixings. With predictable advancements in spirulina-based items and their applications in different end-use enterprises, high development of the market is on card. Moreover, FMI has projected the regular spirulina extract fragment to hold 80.3% of the complete portion of the overall industry in 2021.
Rising utilizations of nature-fixings in food items, combined with developing inclination for clean-mark items among wellbeing cognizant buyers are expected to give tailwinds to spirulina extract deals over the gauge time frame.
Aside from the food business, spirulina extract is in effect generally embraced in composts and creature feed. Spirulina composts are stacked with supplements, kelp remove, amino acids, plant development advertisers, macronutrients, and micronutrients.
A blends of these fixings might conceivably help solid advancement of harvests, and further developed yield. These composts are not difficult to utilize, diminish salt substance in the dirt and invigorate the creation of soil microorganisms proteins, which is further driving utilizations of spirulina extract in manures.
Spirulina extract is additionally utilized in close to home consideration and makeup industry to add non-harmful shading specialists in cosmetics items like eyeshadows, eyeliners, and lipsticks. The emulsifying and cancer prevention agent properties of spirulina are likewise driving its applications in skincare items like lotions, serums and chemicals.
“Growing demand for alternative meat protein among vegan and health conscious consumers, coupled with high demand for clean labels ingredients in pet food, will continue driving sales of spirulina extract over the forecast period,” says the FMI analyst.
Interest for spirulina extract was driven by predictable endeavors to foster better and regular food tones for different food and refreshment items somewhere in the range of 2016 and 2020. These advancements have empowered makers to send off clever assortments of confectionaries, flavors, dairy items and pet food, bringing about popularity for spirulina extract.
Key Takeaways:
- Deals of regular spirulina extract are projected to develop at a 14.0% CAGR through 2031.
• The sweets and confectionary fragment is expected to hold 24.8% of the absolute spirulina extract piece of the pie.
• The U.S. will arise as an alluring business sector, holding 86.5% of the North America spirulina extract piece of the pie.
• Germany will keep displaying popularity for spirulina extract, with deals developing at a 12.6% CAGR through 2031.
• Interest for spirulina extract in China is expected to ascend at a 16.7% CAGR over the estimate time frame.
• The spirulina market in India is relied upon to extend at a 16% CAGR, setting the country as a rewarding business sector.
• Japan and South Korea are projected to hold 18.7 and 5.7 of the complete spirulina extract piece of the pie in 2031.
Competitive Landscape
Some of the leading companies offering Spirulina Extract are 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 and others.
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