Product ID: SQMIG35A2776
Report ID:
SQMIG35A2776 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
92 |
Figures:
70
North America earned the largest market share of 51% in 2022, outpacing Europe and Asia Pacific. This is expected to continue during the forecast period as well, attributed to the escalating demand within the region for organically derived food coloring agents.
The spirulina market is poised for significant expansion in the Asia Pacific region, primarily attributed to robust production hubs in countries such as Korea, China, and Indonesia. The anticipated dominance stems from these nations' substantial cultivation of this algae. Additionally, the region's spiraling market growth is bolstered by a rising trend: the integration of this algal species into nutraceuticals, particularly in non-dairy products. This strategic fusion aligns with evolving consumer preferences for fortified and health-focused alternatives, consequently propelling the regional market's upward trajectory during the forecast period.
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Product ID: SQMIG35A2776