Europe Spirulina Extract Market - Growth, Trends, and Forecast (2020 - 2025)

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.

Key Market Trends

Increased Application in Cosmetics

Cosmetics companies are some of the biggest consumers for spirulina extracts and other seaweeds. Spirulina extracts are featured as natural marine ingredients in cosmetics. Cosmetic compositions with spirulina extract in Europe are mainly for free radicals content, which can act on aging, better hydration, skin protection, and other required improvements of the human skin. Spirulina extract concentrates constitute 0.1 to 5.0% by weight of cosmetic products sold in Europe, which is an acceptable limit of spirulina extract in cosmetic products. Spirulina extract is a rich source of vitamins of the B-complex, pro-vitamin-A, natural proteins, and phyto-polysaccharides, such as galactose, glucose, ribose, and mannose. These active ingredients from spirulina extract help in better cosmetic formulations that are very effective for skin moisturizing and nurturing.

Growing Demand for Sports Drink in the Region

The sports drinks industry and the dye market have been lately using spirulina extracts and show great potential for application. Spirulina is an excellent source of biofertilizer 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 (United States) have come together for the production of fuel from blue-green algae. Such mergers and collaborations have fueled the areas for new realms of application in the industry.

Competitive Landscape

The European spirulina extract market is fragmented with major multinationals and regional players competing fiercely with local players to garner market share. Some of the major players in the European spirulina extract market are Sensient Technologies Corporation, DIC Corporation- Earthrise Nutritionals, DDW The Color House, A TO Z NUTRITION Inc., and Naturex SA.

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