The size of the global market for Spirulina is expected to reach USD 1077.96 Million by 2029, expanding at a compound annual growth rate (CAGR) of 10.6%.
Factors that have major contribution in magnificent spirulina market size are natural health benefits of spirulina super food, introduction of novel varities of natural food colors extracted from spirulina and government initiatives leading to the production of spirulina has prevailed the market growth. Different country’s governments have commenced the promotion of production of spirulina to reinforce the market and generate a decent income with help of rural population. Government of different nations such as Ghana, Angola and India have aided the market growth and shaping a strong gateway for development of spirulina (superfood), results in entirely changed course of food.
In terms of application, the global spirulina market is divided into cosmetic, food industry and cosmetic. Major share is embraced by food industry as its usage in dietary supplement and natural color is growing. Cynobacteria demand has climbed up with higher intake in health clubs and fitness centers as it plays essential role in weight reduction.
On the basis of distribution channel, spirulina market has varied classification which includes grocery, department stores, online retailers and super stores. The major share is credited to super stores as semi urban and urban population prefer these easily available product. Soared number of stores with leading players like Walmart. There is commendable increase in online sales due to discount offers, easy delivery and higher online platforms. Grocery and department stores have moderated share.
global spirulina market has varied segmentation based on region which consists Europe, South America, North America, Asia-Pacific, and the Middle East & Africa. Asia-Pacific and North America are the key producers of spirulina extracts, as the weather conditions favor along with wide spectrum of applications. Germany, the United States and Japan are chief consumers of the product. factor which have deterred the U.S. and European market are ban on chemicals as colorants in the food industry. There is notable demand of natural ingredients and clean label which is anticipated to upsurge the spirulina market demand. In U.S., North America has higher share in global market owing ageing population and growing obesity. As a healthy supplement, consumers have shifted towards food supplements. In addition to that, NASA striving priority to Spirulina as primary food for long term space missions has fueled its consumption.
Substantially growing region is Asia-Pacific, the growth is backed by increasing awareness related to dietary supplements availability and benefits. Further demand will enhance with higher disposable income, growing vegan population and higher use of health products. Europe holds a moderate share considering shifting towards healthy life style. ESA’s collaboration with NASA has consolidated spirulina market demand. Growing retail channels and urban population has promoted Latin America market growth.
The leading international players of global spirulina market are Hydrolina biotech, The All Natural Company, Cyanotech Corporation, Now Foods, Tianjin Norland Biotech Co., Ltd., Algaetech international sdn bhd, Wudi Fengtai Aquaculture Co, Ltd., Guangzhou Endless Biotech Co. Ltd., DIC Lifetech co. ltd., Synergy Naturals, Nanjing Zelang Medical Tech. Co., Ltd, Sunrise Nutrachem group co. ltd., FEBICO (Far East Bio-Tec. Co., ltd.), Algene Biotech, Naturya, E.I.D. Parry (India) Ltd., Sanatur, Fuqing King Dnarmsa Spirulina Co., Ltd. and TAAU Australia Pty Ltd.
Spirulina Market Scope :
|Revenue forecast in 2030
|USD 1.14 billion
|CAGR of 9.28% during 2022-2030
|By Products ,By Application, By Region.
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Parry Nutraceuticals, Cyanotech Corporation, Earthrise Nutritionals, DIC Corporation, Roquette Frères, Parry Organic Ingredients, PhycoHealth, Cyanotech, Blue Spirulina, Yunnan Yiwang Biotech
Key segments of ‘Global Spirulina Market’
Based on type, the market has been segmented into,
- Spirulina Powder
- Spirulina Tablet
- Spirulina Extracts
Based on application, the market has been segmented into,
- North America: United States, Canada, Mexico
- Asia-Pacific: China, India, Japan, South Korea, Australia, Indonesia, Singapore, Malaysia, Philippines, Thailand, Vietnam
- Europe: Germany, France, UK, Italy, Spain, Russia
- Central & South America: Brazil, Rest of Central & South America
- Middle East & Africa: GCC Countries, Turkey, Egypt, South Africa