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Spirulina Extracts Market By Nature (Organic, Conventional),
Application (Beverage, Bakery, Snacks, & Cereal, Candy /
Confectionery, Dairy, Fruit Preparations / Fillings, Meat, Poultry, Fish,
& Eggs, Potatoes, Pasta, & Rice, Sauces, Soups, & Dressings,
Seasonings, Pet Food) & Region - Forecast to 2021 - 2031
Spirulina Extract Market - Analysis, Outlook, Growth, Trends, Forecasts
October 2021 | REP-GB-728 |
250 pages
|
Food and
Beverage
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Spirulina Extract Market Snapshot
[250 Pages Report] Sales of spirulina extract are expected to
grow steadily, reaching a total valuation of US$ 42, Mn in
2021. Demand for spirulina extract is expected to grow at a
14.6% CAGR over the assessment period, according to Future
Market Insights (FMI).
Rising health concerns about food are pushing demand for clean
label food products and ingredients. With consistent innovations
in spirulina-based products and their applications in various end-
use industries, high growth of the market is on card. In addition
to this, FMI has projected the conventional spirulina extract
segment to hold 80.3% of the total market share in 2021.
Base year (2020) Market Value
US$ 36.9 Mn
Projected year (2021) Market Value
US$ 42 Mn
Projected year (2031) Market Value
US$ 163 Mn
CAGR% (2021-2031)
14.6% CAGR
2016-2020 Spirulina Extract Market Outlook
Compared to 2021-2031 Forecast
Demand for spirulina extract was driven by consistent efforts to
develop healthier and natural food colors for various food and
beverage products between 2016 and 2020. These
developments have enabled manufacturers to launch novel
varieties of confectionaries, seasonings, dairy products and pet
food, resulting in high demand for spirulina extract.
As per FMI, the m