Europe Spirulina Extract Market Size (2024 - 2029)

The European spirulina market is experiencing growth due to its diverse applications and nutritional benefits. This market's expansion is driven by the increasing demand for spirulina as a health supplement and its use in various sectors such as food products, natural colors, feed, nutraceuticals, biofertilizers, and cosmetic chemicals. The market size is influenced by spirulina's rich composition, including proteins, vitamins, minerals, and essential fatty acids, which contribute to its popularity and versatility across different industries.

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Market Size of Europe Spirulina Extract Industry

Europe Spirulina Extract Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 6.40 %
Market Concentration Low

Major Players

Europe Spirulina Extract Market Major Players

*Disclaimer: Major Players sorted in no particular order

Europe Spirulina Market Analysis

The European spirulina extract market is expected to register a CAGR of 6.4%, during the forecast period (2020 - 2025).

  • Spirulina is an easily digestible high protein product with high levels of β-carotene, vitamin B12, iron and trace minerals, and the rare vital fatty acid γ-linoleic acid (GLA). Additionally, it has no religious issues or negative culture regarding its consumption.
  • Apart from being a good health supplement, spirulina extracts are also used in food products, natural colors, feed, nutraceuticals, biofertilizers, and cosmetic chemicals. Spirulina contains three colors - red, blue, and yellow. Being rich in chlorophyll, phycocyanin, and beta-carotene, it is often used as a source of natural color extracts.

Europe Spirulina Industry Segmentation

The European spirulina extract market is segmented by application and geography. On the basis of application, the market is segmented into nutraceuticals, food, cosmetics, agriculture, animal feed, and other applications. The report covers regional trends across major countries in Europe.

Application
Nutraceuticals
Food
Cosmetics
Agriculture
Animal Feed
Other Applications
Geography
Germany
United Kingdom
France
Spain
Italy
Russia
Rest of Europe
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Europe Spirulina Extract Market Size Summary

The European spirulina market is experiencing notable growth, driven by its diverse applications and health benefits. Spirulina, a highly digestible protein source rich in essential nutrients like β-carotene, vitamin B12, and γ-linoleic acid, is gaining popularity as a health supplement and natural colorant. Its versatility extends to various industries, including food, nutraceuticals, biofertilizers, and cosmetics, where it is valued for its natural coloring properties and health benefits. The cosmetic industry, in particular, is a significant consumer of spirulina extracts, utilizing them for their anti-aging and skin protection properties. The demand for spirulina in cosmetics is fueled by its rich composition of vitamins, natural proteins, and polysaccharides, which enhance skin moisturizing and nurturing formulations.

The market landscape is characterized by intense competition among multinational and regional players, with companies like Sensient Technologies Corporation, DIC Corporation- Earthrise Nutritionals, and DDW The Color House leading the charge. The spirulina market is also witnessing innovative applications, such as its use in sports drinks and as a biofertilizer, which is particularly appealing to organic farmers. Collaborations, such as the one between BASF and Solix Biofuels for biofuel production from blue-green algae, are expanding the scope of spirulina applications. This fragmented market dynamic, coupled with the growing interest in natural and sustainable products, positions the European spirulina market for continued expansion and diversification.

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Europe Spirulina Extract Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    3. 1.3 Porter's Five Forces Analysis

      1. 1.3.1 Bargaining Power of Suppliers

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Threat of New Entrants

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Application

      1. 2.1.1 Nutraceuticals

      2. 2.1.2 Food

      3. 2.1.3 Cosmetics

      4. 2.1.4 Agriculture

      5. 2.1.5 Animal Feed

      6. 2.1.6 Other Applications

    2. 2.2 Geography

      1. 2.2.1 Germany

      2. 2.2.2 United Kingdom

      3. 2.2.3 France

      4. 2.2.4 Spain

      5. 2.2.5 Italy

      6. 2.2.6 Russia

      7. 2.2.7 Rest of Europe

Europe Spirulina Extract Market Size FAQs

The Europe Spirulina Extract Market is projected to register a CAGR of 6.40% during the forecast period (2024-2029)

Sensient Technologies Corporation, DDW The Color House, DIC Corporation- Earthrise Nutritionals and Chr. Hansen A/S are the major companies operating in the Europe Spirulina Extract Market.

Europe Spirulina Market Report Snapshots

Europe Spirulina Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)