APAC Spirulina Extract Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.10 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
APAC Spirulina Extract Market Analysis
Asia-Pacific spirulina extract market is projected to grow at a CAGR of 6.1% during the forecast period (2020 - 2025).
- The growing demand for natural and clean label colors has recreated a demand for spirulina extracts. The spirulina extract market is dynamic and competitive, with the strong presence of key players, such as Royal DSM, Sensient Technologies Corporation, Chr. Hansen A/S, and Naturex SA.
- Government policies for the development of spirulina extract is very conducive and enabling, and this has attracted regional players to enter intothe spirulina extract industry.
- Spirulina extract is increasingly utilized as a preferable colorant in the variety of confections. The FDA approval for its utilization in gums and candies has prompted manufacturers to opt for spirulina, especially as a natural blue colorant.
APAC Spirulina Extract Market Trends
This section covers the major market trends shaping the APAC Spirulina Extract Market according to our research experts:
Robust Demand Across Industries
The primary factor driving the growth of the spirulina extract market is its strong demand spanning across different sectors, such as agriculture, bio-diesel, nutraceuticals, bio-fertilizers, fine chemicals, and cosmetics. The food and beverage industry, in particular, is one of the leading application areas - the APAC marketplace has witnessed a surge in the demand for spirulina extract, mainly as a natural colorant amidst tightening regulatory grip over synthetic additives. Spirulina extract is increasingly utilized as a preferable colorant in the variety of confections - the FDA approval for its utilization in gums and candies has prompted manufacturers to opt for spirulina, especially as a natural blue colorant.
Nutraceuticals Forms a Significant Application Segment
Nutraceuticals industry is incresingly using spirulina extracts in the supplements as it is rich in protein, vitamins, minerals, and many biologically active substances. Spirulina capsules have proved effective in lowering blood lipid level, and in improving immunological function. The antioxidants in spirulina prevent oxidative stress; spirulina-based functional foods are increasingly consumed to tackle stress and depression. Spirulina-based supplements are known to offer adequate level of gamma-linolenic acid (GLA), a 'good fat' that is vital for the health and functioning of the brain, heart, and other body organs and systems.
APAC Spirulina Extract Industry Overview
Some of the major key players in Asia-Pacific spirulina extract market are Sensient Technologies Corporation, Chr. Hansen A/S, Naturex S.A, Dohler Group, and BASF SE. The key strategies adopted by the companies include product innovations, expansions, and mergers and acquisitions. Companies are increasing their investments in research and development (R&D) and marketing, and expanding their distribution channels to maintain their leading position in the market.
APAC Spirulina Extract Market Leaders
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Sensient Technologies Corporation
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Chr. Hansen A/S
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Naturex S.A
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DIC Corporation- Earthrise Nutritionals
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Dohler Group
*Disclaimer: Major Players sorted in no particular order
APAC Spirulina Extract Market Report - 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
4. MARKET DYNAMICS
- 4.1 Market Drivers
- 4.2 Market Restraints
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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
5. MARKET SEGMENTATION
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5.1 By Application
- 5.1.1 Nutraceuticals
- 5.1.2 Food
- 5.1.3 Cosmetics
- 5.1.4 Feed
- 5.1.5 Others
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5.2 By Geography
- 5.2.1 China
- 5.2.2 India
- 5.2.3 Japan
- 5.2.4 Australia
- 5.2.5 Rest of Asia-Pacific
6. COMPETITIVE LANDSCAPE
- 6.1 Most Active Companies
- 6.2 Most Adopted Strategies
- 6.3 Market Share Analysis
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6.4 Company Profiles
- 6.4.1 Sensient Technologies Corporation
- 6.4.2 Chr. Hansen A/S
- 6.4.3 Naturex S.A
- 6.4.4 DIC Corporation- Earthrise Nutritionals
- 6.4.5 Dohler Group
- 6.4.6 BASF SE
- 6.4.7 Hydrolina Biotech Pvt. Ltd
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityAPAC Spirulina Extract Industry Segmentation
Asia-Pacific spirulina extract market is segmented by application and geography. The market by application is further segmented into nutraceuticals, food, cosmetics, feed, and others. By geography, the market is segmented into India, China, Japan, Australia, and rest of Asia-Pacific. The report also provides the competitive analysis of prominent players along with their key strategies and product offerings in the respective market.
| By Application | Nutraceuticals |
| Food | |
| Cosmetics | |
| Feed | |
| Others | |
| By Geography | China |
| India | |
| Japan | |
| Australia | |
| Rest of Asia-Pacific |
APAC Spirulina Extract Market Research FAQs
What is the current Asia-Pacific Spirulina Extract Market size?
The Asia-Pacific Spirulina Extract Market is projected to register a CAGR of 6.10% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Spirulina Extract Market?
Sensient Technologies Corporation, Chr. Hansen A/S, Naturex S.A, DIC Corporation- Earthrise Nutritionals and Dohler Group are the major companies operating in the Asia-Pacific Spirulina Extract Market.
What years does this Asia-Pacific Spirulina Extract Market cover?
The report covers the Asia-Pacific Spirulina Extract Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Spirulina Extract Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
APAC Spirulina Extract Industry Report
Statistics for the 2024 APAC Spirulina Extract market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. APAC Spirulina Extract analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
