Increased access to healthcare has lead to a worldwide population explosion and the quest for alternatives for traditional food has gained momentum. Spirulina is not only used in agriculture and pharmaceuticals but is also gaining popularity as a dietary supplement throughout the world, due to its high nutritional value. Plus the Confectionery Industry in Europe, in particular, provides tremendous applications and also a potential for innovation in Spirulina extracts. The European Spirulina market is currently accounted for US$XX Million and is expected to grow to US$XX Million by 2022, at a CAGR of XX% during the forecast period. Coming of contemporary cuisines and an enhanced interest in creating nutritious food from non-conventional sources have been key factors in the anticipated growth.
Rising awareness among consumers for natural food products enhanced regulations against synthetic colours, the growth of subsidiary industries like cosmetics and bio fertilisers and increasing popularity of plant protein sources have been responsible for the growth of the market. However, Lack of awareness and marketing of Spirulina, changing climatic conditions due to pollution and high price of extraction with the availability of cheaper substitutes are some of the factors affecting the market. The sports drinks industry and the dye market have been lately using Spirulina extracts and show great potential for application. Spirulina an excellent source of bio fertiliser in various developing and developed nations, as the Cyanobacteria/blue-green algae help in nitrogen fixation through photosynthesis, making Spirulina popular among the organic farmers who seek to enhance productivity in natural ways. Recently, BASF (a German company) and Solix Biofuels (U.S.) have come together for the production of fuel from blue-green algae. Together, they had also launched a detergent which was based on microalgae oil. Such mergers and collaborations have fuelled the areas for new realms of application in the industry.
On the basis of application, spirulina extracts market can be divided into confectionary, soft drinks, meat and savoury, oil and fats, dairy, fruit and vegetables, pharmaceuticals and nutraceuticals. Nutraceuticals, Confectionery and Food colouring are the major segments that lead the market. The distribution of spirulina extracts through supermarkets and convenience stores are negligible. Most of the extracts are made available to specific industries directly through vendors and manufacturers of Spirulina Extracts.
European Union’s ban on Genetically Modified Organisms, to some extent, has fuelled the research on alternatives for conventional foodstuff. There is also a growing market of dietary supplements and sports drinks in the region that shows a wide use of spirulina extracts, with continuous research. Currently, Germany is the biggest consumer of spirulina extracts, especially in the food colouring segment. A rapid growth of the market has been anticipated in Spain, Italy and France.
Key players in the market include Sensient Technologies Corporation (U.S.), DDW-The Color House (U.S.) and Naturex S.A. (France) – to name a few.
- Market segments
- Market Drivers, Restraints and Opportunities
- Market Size & Forecast 2016 to 2022
- Supply & Demand Value Chain
- Market – Current Trends
- Competition & Major Companies
- Technology and R&D Status
- Porters Five Force Analysis
- Strategic and Critical Success Factor Analysis of Key Players
- Western Europe
- EU5 (Germany, France, Italy, Spain, U.K.)
- Nordic Countries (Denmark, Finland, Norway, and Sweden)
- Benelux (Belgium, The Netherlands, and Luxembourg)
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
- Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
- Consumer and Pricing Analysis
- Market dynamics of the industry
- Market Segmentation
- Estimated Market Sizing in terms of volume and value
- Recent trends in Market and impact
- Research Status and Technology Overview
- Extensive Industry Structure Coverage