The global spirulina market was valued at $393.6 million in 2019, and is projected to reach $897.61 million by 2027, registering a CAGR of 10.5% from 2020 to 2027. Spirulina is a natural algae powder known as cyanobacteria that includes potent level of proteins, antioxidants, and vitamin B and other nutrients. It exhibits various benefits such as lowering of LDL and triglyceride levels. It also exhibits anticancer properties, helps reduce blood pressure, is effective against anemia, and improves muscle strength.
Spirulina is used in various applications, such as food & beverages, dietary supplements, pharmaceuticals, animal & aquaculture, and cosmetic & personal care industry. In the last two years, multiple products were launched in the food & beverage industry in which it was used as a primary ingredient. Natural blue and green color produced from it is in high demand, and witnessed a strong market growth in the last two years.
The increase in use of spirulina as a dietary food supplement, owing to its high nutritional content is the major factor that drives the growth of the spirulina market. Furthermore, increase in adoption of healthy food in developed countries fuel the market growth in the food & beverages sector. The rise in prevalence of cancer, cardiovascular diseases, immune diseases, and other diseases boosts the demand for spirulina among its end users.
Furthermore, increase in healthcare expenditure and rise in disposable income among the population is anticipated to foster the market growth. However, limited resource of spirulina as it is extracted from freshwater sources that are available in very few areas hinders the market growth. Emerging economies such as India, China, Mexico, and Brazil are anticipated to provide new opportunities for the market growth during the forecast period.
The spirulina market is segmented into type, application, drug formulation, and region. By type, the market is bifurcated into Arthrospira Platensis and Arthrospira Platensis. By application, it is categorized into nutraceuticals, cosmetics, food & beverages, agriculture, feed, and others. By drug formulation, it is categorized into powder, tablet & capsule, liquid, and granule & gelling agent. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report provides a comprehensive analysis of the Key players operating in the global spirulina market. These players include Cyanotech Corporation, DIC Corporation, Dongtai City Spirulina Bio-engineering Co., Ltd., Algenol Biofuels Inc., Prolgae, Sensient Technologies Corporation, Parry Neutraceuticals, DDW Inc., Naturex S.A., and Algatec.
The other players operating in the global spirulina market include GNC Holdings, Inc., Now Health Group Inc, Fuqing King Dnarmsa Spirulina Co., Fraken Biochem Co., Ltd., and Far East Bio-Tec Co. Ltd.
Spirulina is used in various applications, such as food & beverages, dietary supplements, pharmaceuticals, animal & aquaculture, and cosmetic & personal care industry. In the last two years, multiple products were launched in the food & beverage industry in which it was used as a primary ingredient. Natural blue and green color produced from it is in high demand, and witnessed a strong market growth in the last two years.
The increase in use of spirulina as a dietary food supplement, owing to its high nutritional content is the major factor that drives the growth of the spirulina market. Furthermore, increase in adoption of healthy food in developed countries fuel the market growth in the food & beverages sector. The rise in prevalence of cancer, cardiovascular diseases, immune diseases, and other diseases boosts the demand for spirulina among its end users.
Furthermore, increase in healthcare expenditure and rise in disposable income among the population is anticipated to foster the market growth. However, limited resource of spirulina as it is extracted from freshwater sources that are available in very few areas hinders the market growth. Emerging economies such as India, China, Mexico, and Brazil are anticipated to provide new opportunities for the market growth during the forecast period.
The spirulina market is segmented into type, application, drug formulation, and region. By type, the market is bifurcated into Arthrospira Platensis and Arthrospira Platensis. By application, it is categorized into nutraceuticals, cosmetics, food & beverages, agriculture, feed, and others. By drug formulation, it is categorized into powder, tablet & capsule, liquid, and granule & gelling agent. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report provides a comprehensive analysis of the Key players operating in the global spirulina market. These players include Cyanotech Corporation, DIC Corporation, Dongtai City Spirulina Bio-engineering Co., Ltd., Algenol Biofuels Inc., Prolgae, Sensient Technologies Corporation, Parry Neutraceuticals, DDW Inc., Naturex S.A., and Algatec.
The other players operating in the global spirulina market include GNC Holdings, Inc., Now Health Group Inc, Fuqing King Dnarmsa Spirulina Co., Fraken Biochem Co., Ltd., and Far East Bio-Tec Co. Ltd.
Key Benefits for Stakeholders
- The study presents an in-depth analysis of the global spirulina market along with the current trends and future estimations from 2019 to 2027 to elucidate the imminent investment pockets.
- A comprehensive analysis of the factors that drive and restrict the market growth is provided in the report.
- Identification of factors instrumental in changing the market scenario, rise in opportunities, and recognition of
KEY PLAYERS
that can influence the market on a global and regional scale are provided in the report. KEY PLAYERS
are profiled, and their strategies are analyzed thoroughly to understand the competitive outlook of the market.
Key Market Segments
By Type
- Arthrospira Platensis
- Arthrospira Maxima
By Application
- Nutraceuticals
- Food & Beverages
- Cosmetics
- Animal Feed
- Others
By Formulation
- Powder
- Tablet & Capsule
- Liquid
- Granule & Gelling Agent
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- UK
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- Rest of LAMEA
List of Key Players profiled in the report
- Cyanotech Corporation
- DIC Corporation
- Cabassi & Giuriati SpA
- DDW
- DÖHLER GmbH
- Dongtai City Spirulina Bio-engineering Co., Ltd.
- Echlorial
- E.I.D. Parry Limited
- Givaudan international SA
- Prolgae Spirulina Supplies Pvt. Ltd.
- Dongtai City Spirulina Bio-engineering Co., Ltd.
- Algenol Biofuels Inc.
- Pond Technologies Inc
- Sensient Technologies Corporation
KEY PLAYERS
(not included in the report) GNC Holdings, Inc., Now Health Group Inc, Fuqing King Dnarmsa Spirulina Co., Fraken Biochem Co., Ltd., and Far East Bio-Tec Co. Ltd.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: SPIRULINA MARKET, BY TYPE
CHAPTER 5: SPIRULINA MARKET, BY APPLICATION
CHAPTER 6: SPIRULINA MARKET, BY FORMULATION
CHAPTER 7: SPIRULINA MARKET, BY REGION
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 246 |
| Published | April 2021 |
| Forecast Period | 2019 - 2027 |
| Estimated Market Value ( USD | $ 393.6 million |
| Forecasted Market Value ( USD | $ 897.61 million |
| Compound Annual Growth Rate | 10.9% |
| Regions Covered | Global |
