Spirulina Market

The global spirulina market has been gaining significant traction worldwide owing to the various health benefits offered by spirulina. Spirulina is a type of blue-green cyanobacteria that is consumed as a dietary supplement as it is a rich source of protein, vitamins, minerals, and antioxidants. Regular consumption of spirulina aids in boosting energy levels, supporting weight management, reducing inflammation, and enhancing brain and heart health. Furthermore, it is accessible as tablets, powder, capsules, and liquid extracts for various end-use applications across food and beverages and nutraceuticals industries. With rising consumer awareness about the nutritional value of spirulina and its ability to offer health-promoting effects, this market is anticipated to grow substantially over the forecast period.

Market Dynamics:

The global spirulina market is primarily driven by increasing consumer preference toward plant-based protein sources and awareness about various medical advantages offered by spirulina. Spirulina contains around 60–70% protein and acts as a potential alternative to meat products. Moreover, it is considered effective in managing blood pressure, cholesterol levels, and blood sugar. This has prompted its usage across dietary supplements, food and beverages, and cosmetics. However, high production costs of spirulina due to the complex cultivating process are expected to hamper market growth during the assessment period. Nevertheless, ongoing research and development activities aimed at enhancing production techniques and developing new application areas along with surging demand from developing regions, are projected to unlock lucrative opportunities for the market. The market is driven by the rise in demand for natural ingredients, Research and Development expenditures on industrial spirulina, and government support for spirulina production. However, limited awareness of spirulina and its benefits among consumers, price sensitivity, and quality control and contamination concerns are some of the challenges that may hinder the growth of the market.

Key features of the study:

• This report provides in-depth analysis of the global spirulina market, and provides market size (US$ Mn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year.
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global spirulina market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this study include Sensient Technologies Corporation, Algaetech International Sdn Bhd, DDW The Color House, Algene Biotech, Chr. Hansen Holding A/S, Cyanotech Corporation, DIC Corporation, Fuqing King Dnarmsa Spirulina Co. Ltd, and Sunrise Nutrachem Group Co. Ltd.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• The global spirulina market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global spirulina market.

Detailed Segmentation:

• By Form
  • Powder
  • Tablet / Capsules
  • Liquid
  • Granules
• By Composition
  • Protein
  • Carbohydrates
  • Minerals
  • Lipids
  • Others
• By End Use Industry
  • Food & Beverages
    • Meat & Poultry
    • Bakery
    • Confectionary
  • Nutraceuticals
  • Cosmetics and Personal Care
  • Feed
  • Pharmaceuticals
  • Others
• By Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Top Companies in the Market
  • Sensient Technologies Corporation
  • Algaetech International Sdn Bhd
  • DDW The Color House
  • Algene Biotech
  • Hansen Holding A/S
  • Cyanotech Corporation
  • DIC Corporation
  • Fuqing King Dnarmsa Spirulina Co. Ltd
  • Sunrise Nutrachem Group Co.Ltd