Spirulina, green blue algae are likewise referred to as cyan bacterium is safe for intake through animals and human beings. Spirulina Extracts are made with natural herbs, nutrients, and minerals to raise strength stages and provide antioxidant protection. Spirulina extract materials are utilized in food products, colors, nutraceuticals, feed, cosmetics, bio-fertilizers and exceptional chemicals. Spirulina carries phycocyanin which makes it a fine natural blue shade which can be utilized in food. Spirulina extracts are especially of three colors which include blue, purple and yellow.
The key drivers for the market growth are increasing variety of confectionery products, cakes, and beverages, demand a smooth label and ban by governments of diverse international locations on the utilization of synthetic shade acts as growth stimulating pointer for Spirulina extract market. Increasing packages of Spirulina, higher nutrients cost of Spirulina, approval of Spirulina uses within the meals and beverage industry by regulatory organizations, rising demand for products due to cost effectiveness, favorable authority’s tasks for the manufacturing of Spirulina are pushing the market growth.
But, contamination in Spirulina adversely affecting production, non-prevent fluctuations in import and export of Spirulina and choppy environment alternate hard the manufacturing of Spirulina is hampering the growth of market.
Geographic Segmentation
Based on the geography, the market is segmented into North America, Europe, Latin America, Asia Pacific and Middle East and Africa. In 2016, Europe was the leading market accompanied by North America and the Asia Pacific. The Asia Pacific and North America commanded 50% market percentage. The market growth in Europe is fuelled through factors like research and development for better formulations mainly for confectionery products, ban on artificial hues application, compliance with European rules and others.
Some of the dominating companies of the market include DDW The Color House, Sensient Technologies Corporation, Chr. Hansen A/S, DIC Corporation.
Scope of the report
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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