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

The South American spirulina extract market is projected to register a CAGR of 5.9%, over the forecast period (2020 - 2025).

• Cyanobacterium/Blue green algae help in nitrogen fixation through photosynthesis, which makes spirulina an excellent source of biofertilizer in various developing and developed nations. Spirulina is more famous among organic farmers who seek to enhance productivity in natural ways.
• Based on the application areas, nutraceuticals and food sectors are expected to be promising end users of spirulina, due to the rapid development of algae-based superfoods, heightened consumer’s interest toward natural and clean label products, and the regulatory encouragement in terms of enabling policies and implementation framework.

Key Market Trends

Growing Demand for Natural and Clean Label Colors

The natural food colorant segment is expected to grow twice as fast, as compared to its synthetic counterparts in the global marketplace. This trend is projected to provide robust growth to the sales of spirulina extract in the South American market. The safety concerns regarding artificial coloring and their long-term detrimental health effects have led to a paradigm shift in the strategies of key giants and their product offerings. Many processed food manufacturers have also started offering food products made with natural food coloring.

Brazil Holds the Largest Market Share in the Regional Market

The immense scope of growth in the dairy industry of the region has allowed easy implementation of tools and technologies and innovation in line is driving the market growth. Increased use of spirulina extract is expected to drive the Brazilian market for spirulina extracts and is expected to hold the largest market share across the region. Argentina, on the other hand, has a group of consumers who are on the path of getting aware through regulatory programs and seminars by both private local players and the government.

Competitive Landscape

The South American spirulina extract market is fragmented with the presence of multinational, regional, and local players. Some of the major players in the South American spirulina extract market are Sensient Technologies Corporation, DIC Corporation- Earthrise Nutritionals, DDW The Color House, and Naturex SA.

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