Spirulina Extract Market: Global Industry Information, Size, Growth and Forecast 2016-2022 – Credence Research

According to a new market report published by Credence Research “Spirulina Extracts Market - Growth, Future Prospects, Competitive Analysis, and Forecast 2015 - 2021,” the spirulina extracts market is expected to reach over US$ 0.20 Bn by 2022, expanding at a CAGR of more than 3.5% from 2016 to 2022.

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Market Insights:

Spirulina, green blue algae is also known as cyanobacterium is safe for consumption by animals and humans. Two species of spirulina exists namely Arthrospira maxima and Arthrospira platensis which are naturally available as well as cultivated worldwide. Arthrospira is cultivated on a large scale worldwide and is used as a dietary supplement as well as whole food. It grows naturally in alkaline waters of ponds and lakes of warmer regions. It is in the form of tiny filaments coiled in spirals and is made available to the market in the form of flakes, tablets and powder.

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Spirulina extracts find application in various end-use industries such as food, neutraceuticals, cosmetics, bio-fertilizers and aquaculture feed among others. Spirulina extracts have been used globally for centuries in the food industry. Spirulina consist of about 60% protein and 15 to 20% carbohydrates of its dry weight. Hence, it is widely used in the manufacture of dietary supplements and neutraceuticals. Growing demand from the food industry is another factor boosting growth of spirulina extracts in the market. Growing demand for natural food colorants has led to high demand for spirulina extracts from the food industry in Asia Pacific, especially Japan. Rising health awareness among the population has also led to high demand for spirulina dietary supplements thereby promoting growth of global spirulina extracts market. Other applications such as cosmetics, bio-fertilizers...