Spirulina Market | Contrive Datum Insights

The Spirulina Market is expected to reach USD 968.6 million by 2030, at a CAGR of 13.2% during the forecast period 2022 to 2030.

Spirulina Market Overview:

Spirulina is a type of blue-green algae, also known as blue-green algae. Spirulina is known as a superfood because of its rich nutrition. Spirulina contains protein, beta-carotene, fatty acids, vitamins, copper, and iron. There are two main types of Spirulina, Arthrospira, and Arthrospira. Phycocyanin is a blue pigment extracted from spirulina, which is mainly incorporated into various foods and beverages as a natural colorant. Rising consumer demand for natural food ingredients is driving the growth of the global spirulina market.

Spirulina has antioxidant and cleansing properties as well as essential trace elements for skin health, such as selenium and zinc. It also improves the firmness and elasticity of the skin. The phycocyanin content in spirulina helps detoxify and moisturize the skin, so it is widely used in various cosmetic and personal care products. Growing demand for cosmeceuticals containing natural extracts is driving the expansion of spirulina in the global market.

Spirulina market size, estimates, and forecasts are provided in terms of sales volume (K Units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Spirulina market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we considered the impact of COVID-19 and the Russian-Ukraine war.

Key Market Updates:

• In 2020, Chrome. Global bioscience company Hansen A/S presents "FruitMax® blue". The launch of spirulina-based products is expected to help the company strengthen its business and increase its revenue share.
• In 2018, food manufacturing company Algama Foods focused on relaunching its spirulina water after extensive product development to improve taste and stability. Made with concentrated, dried extracts of blue spirulina, rich in phycocyanin, vitamins, and minerals, Spring Wave is an antioxidant-rich and refreshing drink.
• In August 2019, Scottish biotechnology company ScotBio developed a patent-protected method to improve the phycocyanin pigment content of spirulina. Phycocyanin produced by incorporating this new method provides a 5-fold higher yield compared to conventional extraction.
• In July 2019, GNT developed a range of blue powders derived from Spirulina that offer much higher color intensity that can be incorporated as an additive in various foods.
• In March 2019, Naturex developed a line of extracts called the 'Vegebite Ultimate Spirulina' collection that offers natural blue and green in varying concentrations available in powder and liquid form.

Major Segments Covered in the Global Spirulina Market:

Market Key Players:
Earthrise Nutritional, LLC (U.S.), DIC Corporation (Japan), Yunnan Green A Bio-engineering Co., Ltd (China), Algene Biotech (India), Tianjin Norland Biotech Co., Ltd. (China), Cyanotech Corporation (U.S.), E.I.D. Parry (I) Ltd. (India), Far East Biotech Co. Ltd., (China), Fuqing King Dnarmsa Spirulina Co., Ltd. (China), Dongtai City Spirulina Bio-engineering Co., Ltd. (China), and Australian Spirulina (Australia), Hydrolina Biotech, GreeNatr Premium, Nutrex Hawaii, Health Force, Source Naturals, Triquetra Health, Solaray (Nutraceutical International Corporation), Viva Naturals, And Others.

Spirulina Market by Types:

• Arthrospira Platensis
• Arthrospira Maxima

Spirulina Market by Applications:

• Nutraceuticals
• Food & Beverages
• Animal Feed
• Cosmetics
• Agriculture

• Powder
• Tablet & Capsule
• Liquid
• Granule & Gelling Agent

Spirulina Market by Regions:

The report estimates revenue growth at the worldwide, regional, and country levels and delivers an analysis of the recent industry trends in each sub-segment from 2017 to 2030. North America is estimated to hold the largest share of the overall spirulina market by 2021. However, the spirulina market in the Asia Pacific, especially in China, India, and Japan is expected to witness high growth over the forecast period. The growth of the market is expected to be driven by the presence of local and regional players, the growing dietary supplement industry, the growing need to eradicate malnutrition, favorable climatic conditions, and low production costs. Moreover, various government initiatives to promote the use of spirulina and ongoing research to explore various application areas of spirulina are further driving the growth of the spirulina market in the Asia Pacific.

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Denmark
• Finland
• Iceland
• Sweden
• Norway
• Benelux Union
• Belgium
• The Netherlands
• Luxembourg
• Rest of Europe
• Asia-Pacific
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Significant Market Dynamics:

Growing demand for natural food supplements coupled with the wide applicability of spirulina in the food & beverage and biotechnology industries are the major factors accelerating the growth of the global spirulina market. Furthermore, increasing R&D activities for product development by major players and the introduction of new solutions are expected factors for the growth of the segmented target market.

High production costs along with fluctuating raw material prices and availability are expected to hamper the growth of the global spirulina market. Moreover, the growth of the target market is expected to be hampered by stringent government product approval regulations. However, increasing investments by key players in product development and players' focus on tracking untapped markets are expected to create opportunities for spirulina market players. Moreover, increasing collaborations and agreements to improve distribution channels are expected to support revenue deals in the target market.

Report Scope of Global Spirulina Market:

Points Covered in the Report

• The points that are discussed within the report are the major market players that are involved in the Market such as Market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
• The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analyzed 12 years of data history and forecast.
• The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
• Data and information by market player, region, type, application and etc., and custom research can be added according to specific requirements.
• The report contains a SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

Frequently Asked Questions-

What is the CAGR of the Spirulina market?

The Spirulina Market is growing at a CAGR of 13.2% During the Forecast Period.

 What are the key types and applications of the Spirulina market?

- Arthrospira Platensis, Arthrospira Maxima

- Nutraceuticals, Food & Beverages, Animal Feed, Cosmetics, Agriculture

Who are the key players in the Spirulina market?

Earthrise Nutritional, LLC (U.S.), DIC Corporation (Japan), Yunnan Green A Bio-engineering Co., Ltd (China), Algene Biotech (India), Tianjin Norland Biotech Co., Ltd. (China), Cyanotech Corporation (U.S.), E.I.D. Parry (I) Ltd. (India), Far East Biotech Co. Ltd., (China), Fuqing King Dnarmsa Spirulina Co., Ltd. (China), Dongtai City Spirulina Bio-engineering Co., Ltd. (China), and Australian Spirulina (Australia), Hydrolina Biotech, GreeNatr Premium, Nutrex Hawaii, Health Force, Source Naturals, Triquetra Health, Solaray (Nutraceutical International Corporation), Viva Naturals, And Others.

Any special requirements about this report, please let us know and we can provide a custom report.

Note – In order to provide a more accurate market forecast, all our reports will be updated before delivery by considering the impact of COVID-19 and the Russia-Ukraine war.