Spirulina Extract Market Size, Share, Trends and Outlook 2023-2030.

Market Overview:

The Spirulina Extract Market is growing at a CAGR of 6.36% during the forecast period (2023-2030).

Spirulina is a fine, homogeneous, dark blue-green to green powder or flakes. By filtering the dried biomass of Arthrospira platensis, spirulina extract includes phycocyanins as its main coloring agent. Ancient peoples ate spirulina, a nutritious alga. Dried cyanobacterium Arthrospira biomasses, filamentous tiny organisms that exist abundantly in very alkaline lakes, make up this biological product.
It grows outdoors without cross-contamination because its high pH and alkalinity prohibit other algae from blooming. Spirulina extract, a phycocyanin derivative, is naturally blue. It is a natural food colorant and functional component.

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Market Drivers: Innumerable health benefits of spirulina extract are driving the market

Eggs and spirulina extracts have similar protein contents. Spirulina powder is rich in B vitamins, polysaccharides, and minerals. Antioxidants, carotenoids, and xanthophylls abound. Reduce tiredness, increase immunity, and preserve cardiovascular health with spirulina extracts. As a natural detoxifier, they boost endurance. These aid digestion. Dieticians recommend spirulina extract supplements. All of these properties come from selenium, zinc, and phycocyanin. Additionally, investigators found that spirulina extracts might cut bad cholesterol. Spirulina extracts also improve eye health. Because they contain plenty of zeaxanthin. Ophthalmologists recommend spirulina extracts as eye drops. Health specialists advise some to use spirulina extracts. It should boost spirulina extract demand.

Market Segmentation: The powder segment accounted for the highest global spirulina extract market share.

In 2022, spirulina powder had the largest worldwide market value and revenue. Tablets, pills, and liquid spirulina need more processing and resources than powder. Pills and capsules need spirulina powder processing. The powder is more profitable as a simpler option since customers may add it to flour, shakes, or beverages. Additionally, it contains vitamins A, B, and K, iron, and protein, which promote health. With the vegan trend, more people are vegetarian, which will boost the spirulina powder industry.
The product has grown due to government measures to enhance spirulina production and encourage local producers. Key manufacturers are also releasing new items to boost market development.

Market Companies:

Some of the major key players in the spirulina extract market are Chr. Hansen A/S, Cyanotech Corp., DDW Inc., DIC Corporation, Dongtai City Spirulina Bio-Engineering Co., Ltd., Fuqing King Dnarmsa Spirulina Co., Ltd., GNC Holdings, Inc., Now Health Group Inc., Sensient Technologies Corp., and Parry Nutraceuticals Limited.

By Form

• Powder
• Tablet/Capsule
• Liquid
• Granule

By Application

• Food and Beverage
• Cosmetics/Personal Care
• Animal Feed
• Pharmaceuticals
• Nutraceuticals
• Others

By Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East and Africa

Geographical Share: Europe is the dominant region during the forecast period

Europe held the largest spirulina extract market in 2022. France and the United Kingdom are potential markets for spirulina due to the increasing demand from the food and beverage sector, such as bakery and confectionery. Consumers' preferences are shifting towards minimally processed foods with enhanced aesthetic appeal; such trends have benefited the market performance of clean-label ingredients, including spirulina.

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