Spirulina Extract Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

Description

The global Spirulina Extract Market is on a growth trajectory during forecast period. This expansion is projected to increase revenue from US$ 260 million in 2024 to approximately US$ 490 million by 2031, according to the latest market analysis by Fairfield Market Research.

Understanding Spirulina Extract

Spirulina is a type of blue-green algae known for its high nutritional content and historical use as a food source. It is primarily composed of dried cyanobacterium Arthrospira biomass, which is rich in essential nutrients. Spirulina Extract, derived from phycocyanin, is a naturally obtained blue pigment from spirulina. It serves as both a natural food colorant and a functional food ingredient.

Key Market Trends

High Nutritional Value: Spirulina is considered a superfood due to its high protein content. In its raw form, spirulina contains approximately 60% protein, making it one of the richest protein sources globally. Additionally, spirulina is rich in vitamins (A, B, C, E, and K) and minerals (calcium, iron, manganese, potassium, magnesium, phosphorus, sodium, and zinc).

Increased Applications: FDA approval for the use of spirulina in food and beverages has led to the development of various spirulina-based products. Spirulina is now used in the food, beverage, cosmetics, animal feed, pet food, and nutraceutical industries. Natural blue and green colors derived from spirulina are in high demand.

Regulatory Approvals: Spirulina's approval for use in food and beverages by regulatory agencies has paved the way for natural color manufacturers to utilize it as a raw material for natural color production. This has led to the emergence of new spirulina-based products, with established players and new entrants contributing to the market's growth.

Market Challenges

Social Stigma: Discussing symptoms related to irritable bowel syndrome (IBS) is often uncomfortable, leading to a stigma associated with IBS. This social discomfort can hinder market growth.

Competition: The spirulina extract market faces competition from numerous participants, leading to pricing and sales challenges. Several companies, including GNT Holdings B.V., Chr. Hansen Holding A/S, DDW Inc., DIC Corporation, and Sensient Technologies Corp., are manufacturing spirulina-based natural colors.

U.S. Market Insights

The U.S. market is experiencing significant growth due to increasing emphasis on supplementation and preventative healthcare. Rising concerns about obesity and lifestyle-related disorders have driven the demand for low-calorie, high-protein supplement sources.

European Market Outlook

The European spirulina extract market benefits from the presence of leading players and regulatory authorities' increased focus on manufacturing and labeling regulations. Manufacturers are expanding their product portfolios in response to these regulations, launching new products in the region.

Emerging Chinese Market

China is emerging as a prominent market for spirulina extract, with manufacturers expanding their global footprint and technological capabilities to meet the growing demand for natural color from spirulina.

Competitive Landscape

DIC Corporation, parent company of Earthrise Inc., is the largest spirulina producer globally, holding an 18.2% share of the market. Other major players include Now Health Group Inc., Chr. Hansen A/S, Fuqing King Dnarmsa Spirulina Co., Ltd., Cyanotech Corp., DDW Inc., Dongtai City Spirulina Bio-Engineering Co., Ltd., and Sensient Technologies Corp.

Market Segmentation

By Nature:

Conventional
Organic

By Form:

Powder
Tablet and Capsule
Liquid

By Application:

Food and Beverage
Nutraceuticals
Animal Feed
Cosmetics & Personal care
Others

By Region:

North America
Latin America
Europe
South Asia & Pacific
East Asia
Middle East & Africa

1. Executive Summary

1.1. Global Spirulina Extract Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Volume and Value, 2023
1.5. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. Covid-19 Impact Analysis
- 2.5.1. Supply
- 2.5.2. Demand
2.6. Impact Of Ukraine-Russia Conflict
2.7. Economic Overview
- 2.7.1. World Economic Projections
2.8. Pestle Analysis

3. Production Output and Trade Statistics, 2018 - 2023

3.1. Global Spirulina Extract Market Production Output, by Region, Value (US$ Bn) and Volume (Million Tons), 2018 - 2023
- 3.1.1. North America
- 3.1.2. Europe
- 3.1.3. Asia Pacific
- 3.1.4. Latin America
- 3.1.5. Middle East and Africa

4. Price Analysis, 2018 - 2023

4.1. Global Average Price Analysis, by Nature/ Material, US$ Per Unit, 2018 - 2023
4.2. Prominent Factor Affecting Spirulina Extract Prices
4.3. Global Average Price Analysis, by Region, US$ Per Unit, 2018 - 2023

5. Global Spirulina Extract Market Outlook, 2018 - 2031

5.1. Global Spirulina Extract Market Outlook, by Nature, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
- 5.1.1. Key Highlights
  - 5.1.1.1. Conventional
  - 5.1.1.2. Organic
5.2. Global Spirulina Extract Market Outlook, by Form, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
- 5.2.1. Key Highlights
  - 5.2.1.1. Powder
  - 5.2.1.2. Tablet and Capsule
  - 5.2.1.3. Liquid
5.3. Global Spirulina Extract Market Outlook, by Application, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
- 5.3.1. Key Highlights
  - 5.3.1.1. Food and Beverage
  - 5.3.1.2. Nutraceuticals
  - 5.3.1.3. Animal Feed
  - 5.3.1.4. Cosmetics & Personal care
  - 5.3.1.5. Others
5.4. Global Spirulina Extract Market Outlook, by Region, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
- 5.4.1. Key Highlights
  - 5.4.1.1. North America
  - 5.4.1.2. Europe
  - 5.4.1.3. Asia Pacific
  - 5.4.1.4. Latin America
  - 5.4.1.5. Middle East & Africa

6. North America Spirulina Extract Market Outlook, 2018 - 2031

6.1. North America Spirulina Extract Market Outlook, by Nature, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
- 6.1.1. Key Highlights
  - 6.1.1.1. Conventional
  - 6.1.1.2. Organic
6.2. North America Spirulina Extract Market Outlook, by Form, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
- 6.2.1. Key Highlights
  - 6.2.1.1. Powder
  - 6.2.1.2. Tablet and Capsule
  - 6.2.1.3. Liquid
6.3. North America Spirulina Extract Market Outlook, by Application, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
- 6.3.1. Key Highlights
  - 6.3.1.1. Food and Beverage
  - 6.3.1.2. Nutraceuticals
  - 6.3.1.3. Animal Feed
  - 6.3.1.4. Cosmetics & Personal care
  - 6.3.1.5. Others
- 6.3.2. BPS Analysis/Market Attractiveness Analysis
6.4. North America Spirulina Extract Market Outlook, by Country, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
- 6.4.1. Key Highlights
  - 6.4.1.1. U.S. Spirulina Extract Market by Nature, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 6.4.1.2. U.S. Spirulina Extract Market by Form, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 6.4.1.3. U.S. Spirulina Extract Market by Application, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 6.4.1.4. Canada Spirulina Extract Market by Nature, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 6.4.1.5. Canada Spirulina Extract Market by Form, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 6.4.1.6. Canada Spirulina Extract Market by Application, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
- 6.4.2. BPS Analysis/Market Attractiveness Analysis

7. Europe Spirulina Extract Market Outlook, 2018 - 2031

7.1. Europe Spirulina Extract Market Outlook, by Nature, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
- 7.1.1. Key Highlights
  - 7.1.1.1. Conventional
  - 7.1.1.2. Organic
7.2. Europe Spirulina Extract Market Outlook, by Form, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
- 7.2.1. Key Highlights
  - 7.2.1.1. Powder
  - 7.2.1.2. Tablet and Capsule
  - 7.2.1.3. Liquid
7.3. Europe Spirulina Extract Market Outlook, by Application, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
- 7.3.1. Key Highlights
  - 7.3.1.1. Food and Beverage
  - 7.3.1.2. Nutraceuticals
  - 7.3.1.3. Animal Feed
  - 7.3.1.4. Cosmetics & Personal care
  - 7.3.1.5. Others
- 7.3.2. BPS Analysis/Market Attractiveness Analysis
7.4. Europe Spirulina Extract Market Outlook, by Country, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
- 7.4.1. Key Highlights
  - 7.4.1.1. Germany Spirulina Extract Market by Nature, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 7.4.1.2. Germany Spirulina Extract Market by Form, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 7.4.1.3. Germany Spirulina Extract Market by Application, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 7.4.1.4. U.K. Spirulina Extract Market by Nature, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 7.4.1.5. U.K. Spirulina Extract Market by Form, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 7.4.1.6. U.K. Spirulina Extract Market by Application, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 7.4.1.7. France Spirulina Extract Market by Nature, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 7.4.1.8. France Spirulina Extract Market by Form, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 7.4.1.9. France Spirulina Extract Market by Application, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 7.4.1.10. Italy Spirulina Extract Market by Nature, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 7.4.1.11. Italy Spirulina Extract Market by Form, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 7.4.1.12. Italy Spirulina Extract Market by Application, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 7.4.1.13. Turkey Spirulina Extract Market by Nature, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 7.4.1.14. Turkey Spirulina Extract Market by Form, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 7.4.1.15. Turkey Spirulina Extract Market by Application, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 7.4.1.16. Russia Spirulina Extract Market by Nature, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 7.4.1.17. Russia Spirulina Extract Market by Form, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 7.4.1.18. Russia Spirulina Extract Market by Application, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 7.4.1.19. Rest Of Europe Spirulina Extract Market by Nature, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 7.4.1.20. Rest Of Europe Spirulina Extract Market by Form, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 7.4.1.21. Rest Of Europe Spirulina Extract Market by Application, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
- 7.4.2. Bps Analysis/Market Attractiveness Analysis

8. Asia Pacific Spirulina Extract Market Outlook, 2018 - 2031

8.1. Asia Pacific Spirulina Extract Market Outlook, by Nature, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
- 8.1.1. Key Highlights
  - 8.1.1.1. Conventional
  - 8.1.1.2. Organic
8.2. Asia Pacific Spirulina Extract Market Outlook, by Form, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
- 8.2.1. Key Highlights
  - 8.2.1.1. Powder
  - 8.2.1.2. Tablet and Capsule
  - 8.2.1.3. Liquid
8.3. Asia Pacific Spirulina Extract Market Outlook, by Application, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
- 8.3.1. Key Highlights
  - 8.3.1.1. Food and Beverage
  - 8.3.1.2. Nutraceuticals
  - 8.3.1.3. Animal Feed
  - 8.3.1.4. Cosmetics & Personal care
  - 8.3.1.5. Others
- 8.3.2. BPS Analysis/Market Attractiveness Analysis
8.4. Asia Pacific Spirulina Extract Market Outlook, by Country, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
- 8.4.1. Key Highlights
  - 8.4.1.1. China Spirulina Extract Market by Nature, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 8.4.1.2. China Spirulina Extract Market by Form, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 8.4.1.3. China Spirulina Extract Market by Application, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 8.4.1.4. Japan Spirulina Extract Market by Nature, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 8.4.1.5. Japan Spirulina Extract Market by Form, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 8.4.1.6. Japan Spirulina Extract Market by Application, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 8.4.1.7. South Korea Spirulina Extract Market by Nature, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 8.4.1.8. South Korea Spirulina Extract Market by Form, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 8.4.1.9. South Korea Spirulina Extract Market by Application, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 8.4.1.10. India Spirulina Extract Market by Nature, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 8.4.1.11. India Spirulina Extract Market by Form, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 8.4.1.12. India Spirulina Extract Market by Application, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 8.4.1.13. Southeast Asia Spirulina Extract Market by Nature, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 8.4.1.14. Southeast Asia Spirulina Extract Market by Form, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 8.4.1.15. Southeast Asia Spirulina Extract Market by Application, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 8.4.1.16. Rest Of Asia Pacific Spirulina Extract Market by Nature, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 8.4.1.17. Rest Of Asia Pacific Spirulina Extract Market by Form, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 8.4.1.18. Rest Of Asia Pacific Spirulina Extract Market by Application, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
- 8.4.2. Bps Analysis/Market Attractiveness Analysis

9. Latin America Spirulina Extract Market Outlook, 2018 - 2031

9.1. Latin America Spirulina Extract Market Outlook, by Nature, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
- 9.1.1. Key Highlights
  - 9.1.1.1. Conventional
  - 9.1.1.2. Organic
9.2. Latin America Spirulina Extract Market Outlook, by Form, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
- 9.2.1. Key Highlights
  - 9.2.1.1. Powder
  - 9.2.1.2. Tablet and Capsule
  - 9.2.1.3. Liquid
9.3. Latin America Spirulina Extract Market Outlook, by Application, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
- 9.3.1. Key Highlights
  - 9.3.1.1. Food and Beverage
  - 9.3.1.2. Nutraceuticals
  - 9.3.1.3. Animal Feed
  - 9.3.1.4. Cosmetics & Personal care
  - 9.3.1.5. Others
- 9.3.2. BPS Analysis/Market Attractiveness Analysis
9.4. Latin America Spirulina Extract Market Outlook, by Country, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
- 9.4.1. Key Highlights
  - 9.4.1.1. Brazil Spirulina Extract Market by Nature, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 9.4.1.2. Brazil Spirulina Extract Market by Form, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 9.4.1.3. Brazil Spirulina Extract Market by Application, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 9.4.1.4. Mexico Spirulina Extract Market by Nature, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 9.4.1.5. Mexico Spirulina Extract Market by Form, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 9.4.1.6. Mexico Spirulina Extract Market by Application, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 9.4.1.7. Argentina Spirulina Extract Market by Nature, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 9.4.1.8. Argentina Spirulina Extract Market by Form, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 9.4.1.9. Argentina Spirulina Extract Market by Application, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 9.4.1.10. Rest Of Latin America Spirulina Extract Market by Nature, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 9.4.1.11. Rest Of Latin America Spirulina Extract Market by Form, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 9.4.1.12. Rest Of Latin America Spirulina Extract Market by Application, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
- 9.4.2. Bps Analysis/Market Attractiveness Analysis

10. Middle East & Africa Spirulina Extract Market Outlook, 2018 - 2031

10.1. Middle East & Africa Spirulina Extract Market Outlook, by Nature, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
- 10.1.1. Key Highlights
  - 10.1.1.1. Conventional
  - 10.1.1.2. Organic
10.2. Middle East & Africa Spirulina Extract Market Outlook, by Form, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
- 10.2.1. Key Highlights
  - 10.2.1.1. Powder
  - 10.2.1.2. Tablet and Capsule
  - 10.2.1.3. Liquid
10.3. Middle East & Africa Spirulina Extract Market Outlook, by Application, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
- 10.3.1. Key Highlights
  - 10.3.1.1. Food and Beverage
  - 10.3.1.2. Nutraceuticals
  - 10.3.1.3. Animal Feed
  - 10.3.1.4. Cosmetics & Personal care
  - 10.3.1.5. Others
- 10.3.2. Bps Analysis/Market Attractiveness Analysis
10.4. Middle East & Africa Spirulina Extract Market Outlook, by Country, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
- 10.4.1. Key Highlights
  - 10.4.1.1. GCC Spirulina Extract Market by Nature, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 10.4.1.2. GCC Spirulina Extract Market by Form, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 10.4.1.3. GCC Spirulina Extract Market by Application, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 10.4.1.4. South Africa Spirulina Extract Market by Nature, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 10.4.1.5. South Africa Spirulina Extract Market by Form, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 10.4.1.6. South Africa Spirulina Extract Market by Application, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 10.4.1.7. Egypt Spirulina Extract Market by Nature, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 10.4.1.8. Egypt Spirulina Extract Market by Form, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 10.4.1.9. Egypt Spirulina Extract Market by Application, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 10.4.1.10. Nigeria Spirulina Extract Market by Nature, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 10.4.1.11. Nigeria Spirulina Extract Market by Form, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 10.4.1.12. Nigeria Spirulina Extract Market by Application, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 10.4.1.13. Rest Of Middle East & Africa Spirulina Extract Market by Nature, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 10.4.1.14. Rest Of Middle East & Africa Spirulina Extract Market by Form, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
  - 10.4.1.15. Rest Of Middle East & Africa Spirulina Extract Market by Application, Value (US$ Bn) and Volume (Million Tons), 2018 - 2031
- 10.4.2. Bps Analysis/Market Attractiveness Analysis

11. Competitive Landscape

11.1. By Application Vs by Form Heat Map
11.2. Manufacturer Vs by Form Heatmap
11.3. Company Market Share Analysis, 2023
11.4. Competitive Dashboard
11.5. Company Profiles
- 11.5.1. Chr. Hansen A/S
  - 11.5.1.1. Company Overview
  - 11.5.1.2. Nature Portfolio
  - 11.5.1.3. Financial Overview
  - 11.5.1.4. Business Strategies and Development
- 11.5.2. Cyanotech Corp.
  - 11.5.2.1. Company Overview
  - 11.5.2.2. Nature Portfolio
  - 11.5.2.3. Financial Overview
  - 11.5.2.4. Business Strategies and Development
- 11.5.3. DDW Inc.
  - 11.5.3.1. Company Overview
  - 11.5.3.2. Nature Portfolio
  - 11.5.3.3. Financial Overview
  - 11.5.3.4. Business Strategies and Development
- 11.5.4. DIC Corporation
  - 11.5.4.1. Company Overview
  - 11.5.4.2. Nature Portfolio
  - 11.5.4.3. Financial Overview
  - 11.5.4.4. Business Strategies and Development
- 11.5.5. Dongtai City Spirulina Bio-Engineering Co., Ltd.
  - 11.5.5.1. Company Overview
  - 11.5.5.2. Nature Portfolio
  - 11.5.5.3. Financial Overview
  - 11.5.5.4. Business Strategies and Development
- 11.5.6. Fuqing King Dnarmsa Spirulina Co., Ltd.
  - 11.5.6.1. Company Overview
  - 11.5.6.2. Nature Portfolio
  - 11.5.6.3. Financial Overview
  - 11.5.6.4. Business Strategies and Development
- 11.5.7. GNC Holdings, Inc.
  - 11.5.7.1. Company Overview
  - 11.5.7.2. Nature Portfolio
  - 11.5.7.3. Financial Overview
  - 11.5.7.4. Business Strategies and Development
- 11.5.8. Now Health Group Inc.
  - 11.5.8.1. Company Overview
  - 11.5.8.2. Nature Portfolio
  - 11.5.8.3. Financial Overview
  - 11.5.8.4. Business Strategies and Development
- 11.5.9. Sensient Technologies Corp.
  - 11.5.9.1. Company Overview
  - 11.5.9.2. Nature Portfolio
  - 11.5.9.3. Financial Overview
  - 11.5.9.4. Business Strategies and Development
- 11.5.10. Parry Nutraceuticals Limited
  - 11.5.10.1. Company Overview
  - 11.5.10.2. Nature Portfolio
  - 11.5.10.3. Financial Overview
  - 11.5.10.4. Business Strategies and Development
- 11.5.11. Naturalin Bio-Resources Co., Ltd
  - 11.5.11.1. Company Overview
  - 11.5.11.2. Nature Portfolio
  - 11.5.11.3. Financial Overview
  - 11.5.11.4. Business Strategies and Development
- 11.5.12. Far East Bio-Tec Co., Ltd.
  - 11.5.12.1. Company Overview
  - 11.5.12.2. Nature Portfolio
  - 11.5.12.3. Financial Overview
  - 11.5.12.4. Business Strategies and Development
- 11.5.13. Dohler GmbH
  - 11.5.13.1. Company Overview
  - 11.5.13.2. Nature Portfolio
  - 11.5.13.3. Financial Overview
  - 11.5.13.4. Business Strategies and Development
- 11.5.14. Naturex S.A.
  - 11.5.14.1. Company Overview
  - 11.5.14.2. Nature Portfolio
  - 11.5.14.3. Financial Overview
  - 11.5.14.4. Business Strategies and Development
- 11.5.15. Fraken Biochem Co., Ltd.
  - 11.5.15.1. Company Overview
  - 11.5.15.2. Nature Portfolio
  - 11.5.15.3. Financial Overview
  - 11.5.15.4. Business Strategies and Development

12. Appendix

12.1. Research Methodology
12.2. Report Assumptions
12.3. Acronyms And Abbreviations