Market Size of Europe Spirulina Extract Industry
| 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
*Disclaimer: Major Players sorted in no particular order |
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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 |
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.
Europe Spirulina Extract Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Bargaining Power of Suppliers
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Threat of New Entrants
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Application
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2.1.1 Nutraceuticals
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2.1.2 Food
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2.1.3 Cosmetics
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2.1.4 Agriculture
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2.1.5 Animal Feed
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2.1.6 Other Applications
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2.2 Geography
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2.2.1 Germany
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2.2.2 United Kingdom
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2.2.3 France
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2.2.4 Spain
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2.2.5 Italy
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2.2.6 Russia
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2.2.7 Rest of Europe
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Europe Spirulina Extract Market Size FAQs
What is the current Europe Spirulina Extract Market size?
The Europe Spirulina Extract Market is projected to register a CAGR of 6.40% during the forecast period (2024-2029)
Who are the key players in Europe Spirulina Extract Market?
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.
