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  • Published In : May 2024
  • Code : CMI972
  • Pages :174
  • Formats :
      Excel and PDF
  • Industry : Food Ingredients

Market Size and Trends

The global spirulina market is estimated to be valued at USD 484.7 Mn in 2024 and is expected to reach USD 808.4 Mn by 2031, growing at a compound annual growth rate (CAGR) of 7.6% from 2024 to 2031.

Spirulina Market Key Factors

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Spirulina is a nutritious blue-green algae that is widely used as a dietary supplement and in various food and beverage products. Growing awareness about the health benefits of spirulina and increasing demand for plant-based proteins are expected to drive the market during the forecast period. The spirulina market is expected to witness significant growth globally due to the increasing consumer preference for natural food colors and ingredients. Asia Pacific dominates the spirulina market currently due to the large production and consumption of spirulina in countries like China. Moreover, North America and Europe are also expected to offer lucrative growth opportunities for spirulina market players over the coming years because of the shifting consumer preference towards healthy and sustainable food options.

Rising Health Awareness

People are becoming more conscious about their health and wellbeing. There is a greater focus on maintaining overall physical fitness and immunity as well as reducing risk of various diseases. Spirulina is gaining popularity due to its enriching nutritional profile. It is packed with protein, vitamins, minerals, and other nutrients that are beneficial for health. The super food is known to boost energy levels, support digestive health, lower cholesterol, and blood pressure. Regular consumption can also aid in weight management and boost cognitive functions. With rising health issues like obesity, diabetes, and cardiovascular problems, people are seeking natural dietary supplements and super foods like spirulina to fulfill their nutritional requirements. Busy lifestyles and lack of balanced diets have contributed to various deficiencies as well. Spirulina bridges the gap very well as a standalone source of nutrients. It is also becoming a favored addition in smoothies, juices, tablets, and snacks. Consumer preference for organic, natural, and clean label products is generating significant demand for premium spirulina extracts and powders. Sports nutrition and general wellness segment is exhibiting high growth as spirulina assists in improving stamina, endurance and post workout recovery.

Market Concentration and Competitive Landscape

Spirulina Market Concentration By Players

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Sustainable Growth of Food and Beverage Industry

The global food and beverage industry has been witnessing exponential expansion. There is massive spending on R&D for new product innovations to cater to evolving consumer needs. Companies are actively exploring ingredients and formulations that provide functional benefits. They are leveraging super foods like spirulina for enhancing nutritional value of existing food items and developing new ranges of fortified foods, supplements and beverages. The super food has garnered interest of major players in the food, dietary and cosmetic sectors due to its versatile applications and impressive functional profile. Cultivation of spirulina is also more eco-friendly and sustainable relative to other food sources. This has inspired a number of farmers and small-scale producers to start commercial farming of spirulina. Governments across countries are also supporting agritech startups with initiatives promoting aquaculture and development of alternative proteins. Rising concerns over climate change have uplifted the demand for sustainable ingredients. Algae production helps in carbon sequestration and provides a viable solution for nutrient recovery from wastewaters. Its usage in animal feed aids in reducing environmental impact of livestock farming. Therefore, the growing food and beverage industry is expected to drive the market growth. For instance, according to data published by Invest India in 2022, by 2025, the Indian food processing market is estimated to reach USD 535 Bn, growing at a compound annual growth rate of 15.2%.

Spirulina Market Key Takeaways From Lead Analyst

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Challenges: High production costs and limited resources

As an emerging industry, high production costs and limited resources continue to restrict mass cultivation of spirulina. In addition, strict regulations and quality standards set by different countries also increase compliance burdens. Furthermore, consumer’s associate spirulina as a niche health food product, and wider acceptance will require further research demonstrating its health benefits as well as taste improvements.

Opportunities:  Increasing consumer awareness & rising prevalence of chronic diseases

Increasing consumer awareness about the nutritional value and therapeutic properties of spirulina is driving its demand worldwide. Rising prevalence of chronic diseases will boost its application in pharmaceuticals and nutraceuticals. Moreover, spirulina is increasingly recognized as a sustainable super food and natural colorant, offering opportunities for product innovation and development across new application segments.

Spirulina Market By Form

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Insights, by Form: Convenience and Long Shelf Life Drive the Demand for Powder Form

The form segment dominates the global spirulina market due to its convenience and longer shelf life compared to other forms. This segment is expected to contribute 45% of the market share in 2024. Powdered spirulina is convenient to use as it can be easily mixed into drinks, smoothies, baked goods, or other foods. Its dry form means it does not require refrigeration like liquids and can simply be stored in a cool, dry place. This makes it ideal for commercial producers and distributors who want to supply spirulina to retailers with longer distribution chains. Powdered spirulina has a shelf life of up to two years unopened when stored properly, whereas liquid forms may only last a few months refrigerated. The dry powder is also compact and requires less space in transportation and storage than bulkier liquid or tablet forms. This improves supply chain efficiencies and keeps costs lower. Many consumers also prefer powder as it is easy to adjust serving sizes by adding more or less to recipes. Some may also find powder easier to swallow than large spirulina tablets.  Being a soluble, fine powder also enables functional ingredients and supplements to be formulated with spirulina. Many nutraceutical products contain spirulina powder due to its ability to be encapsulated or blended homogeneously into formulations. This versatility has led to powdered spirulina being used extensively in supplement blends targeting health issues like inflammation, cardiovascular support and digestive wellness. Its use in food and beverage applications as a coloring agent, thickener or protein fortifier also relies on its ability to dissolve when in powder form.

Insights, by Composition: Protein Content Fuels Nutraceutical and Dietary Uses

The protein composition segment is expected to contribute 35.7% share of the global spirulina market in 2024, due to spirulina's high protein content and resulting popularity in dietary supplements and foods. Spirulina contains approximately 60-70% complete protein by dry weight, making it one of the richest non-animal sources. It contains all essential amino acids along with various other nutrients. Spirulina's protein quality compares favorably to meat, eggs and dairy, while containing more easily digestible proteins than soy or other plant alternatives.  Its protein content has driven spirulina adoption into numerous nutraceutical and sports nutrition products. Protein supplements often feature spirulina as a key ingredient to support muscle growth and recovery. It is used similarly in weight management formulations to encourage fullness and metabolism. Many gluten-free protein bars and meals incorporate spirulina to enhance their protein density and nutritionals. Dietary guidelines recommend plant-based protein sources, further stimulating spirulina demand from health-conscious consumers. Its status as a whole food, containing a balanced mix of vitamins and minerals, broadens spirulina's health halo compared to isolated protein powders. This attracts consumers seeking functional foods that support overall wellness beyond just protein needs.

Insights, by End Use Industry: Health Benefits and Flexible Applications Boost Food and Beverage Usage

The food and beverages segment holds the leading share of the global spirulina market due to the wide scope of its applications and associated nutritional benefits being promoted in this industry. This segment is expected to contribute 38.5% of the market share in 2024. Food companies are increasingly incorporating spirulina into products aimed at health-conscious consumers. It provides a natural green colorant and flavor comparable to common plant-based alternatives like spinach or kale.  Beyond physical attributes, spirulina offers an array of potential health advantages that food formulators aim to leverage. These include antioxidants, anti-inflammatory compounds, and ability to support cardiovascular, brain, and digestive functions when consumed regularly. Beverage and snack producers develop "super food" lines playing on spirulina’s nutritional profile. Versatility across categories like juice, yogurt, granola, extruded snacks, and others enables its use. Flexibility in applications allows spirulina customization for specific markets. Products target distinct segments like children through spirulina-enhanced puffed snacks or seniors with joint health juice blends. Vegan foods are enriched with spirulina’s protein and nutrients as a more sustainable alternative to meat analogs. The food and beverage industry sees great potential for spirulina as a solution for developing cleaner, more beneficial product lines.

Regional Insights

Spirulina Market Regional Insights

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North America is the current dominant region in the global spirulina market. The region is expected to hold 36.7% of the market share in 2024. With the rising health consciousness and increasing awareness about the nutritional benefits of spirulina, its demand has grown substantially among consumers in the U.S. and Canada. Americans widely consume spirulina as a nutritional supplement for its high protein content and other health advantages. The region is also a leader in spirulina production, with several large producers based in the U.S. and Mexico. The established manufacturing infrastructure and technical expertise in the cultivation and processing of spirulina have aided its mass production in North America over the years.

On the other hand, the Asia Pacific region demonstrates the fastest growth and shows promising potential in the coming years. Countries like India, China, and Thailand have emerged as new production hubs and the market is gaining rapid traction in these developing economies. This can be attributed to the increasing domestic demand as more people include spirulina in their regular diets for its antioxidant and anti-inflammatory properties. Furthermore, the favorable climate conditions in many Asian countries provide ideal natural environments for spirulina cultivation. The growth is also supplemented by supportive government initiatives and investments to encourage algae farming and exports. With rising health consciousness, growing incomes, and a large consumer base, the Asia Pacific region is expected to dominate the global spirulina industry landscape in the long run.

Market Report Scope

Spirulina Market Report Coverage

Report Coverage Details
Base Year: 2023 Market Size in 2024: US$ 484.7 Mn
Historical Data for: 2019 To 2023 Forecast Period: 2024 To 2031
Forecast Period 2024 to 2031 CAGR: 7.6% 2031 Value Projection: US$ 808.4 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East & Africa: GCC Countries, Israel, and Rest of Middle East & Africa
Segments covered:
  • By Form: Powder , Tablet/Capsules , Liquid , and Granules
  • By Composition: Protein , Carbohydrates , Minerals , Lipids , and Others
  • End Use Industry: Food & Beverages (Meat & Poultry, Bakery, Confectionary), Nutraceuticals , Cosmetics and Personal Care , Feed , Pharmaceuticals , and Others 
Companies covered:

Cyanotech Corporation, Sensient Technologies Corporation, NB Laboratories Pvt Ltd, DIC Corporation, Fuqing King Dnarmsa Spirulina Co. Ltd, Evergreen Agro Creations, Indian Agri Farm, Alpspure Lifesciences Pvt. Ltd., Ideal Natural Extract, Lifevision Healthcare, Grenera Nutrients Private Limited, and Far East Bio-Tec Co., Ltd.

Growth Drivers:
  • Rising health awareness
  • Sustainable growth of food and beverage industry 
Restraints & Challenges:
  • High production costs and limited resources
  • Vulnerability to climatic changes

Key Developments

  • In 2023, the Haryana government announced the introduction of Spirulina-based products to tackle malnutrition among children with a six-month pilot project in Nuh district
  • In November 2022, The GNT Group introduced an expansion to its selection of green EXBERRY Coloring Foods, unveiling a freshly powdered variant created from a combination of turmeric and spirulina. This new addition, known as EXBERRY Shade Bright Green Powder, is meticulously crafted to provide vibrant, bluish-green tones in dry and powdered applications, including bakery mixes and seasonings. GNT Group Company is a leader in providing natural coloring solutions for the food and beverage industry.
  • In September 2022, DIC Corporation announced that it will make an environmental investment of approximately (USD 9.0 Mn) at subsidiaries, Earthrise Nutritionals, LLC, in the U.S. state of California, and Hainan DIC Microalgae Co., Ltd., in the People’s Republic of China (PRC), both of which produce edible blue-green algae Spirulina and Spirulina-derived natural blue food coloring, LINABLUE
  • In October 2022, Sensient Technologies Corporation acquired Endemix DoÄŸal Maddeler A.Åž., a vertically integrated natural color and extracts company located in Turkey. This acquisition allows Sensient Technologies Corporation to further expand its vertical integration for key natural colors and add extraction and refining capacity, strengthening its position as a leading natural color solutions provider.

*Definition: The global spirulina market comprises companies that cultivate and harvest the microalgae spirulina, then process, and sell it for consumption. Spirulina is marketed as a dietary supplement due to its high nutrient content including protein, B vitamins, carotenoids, and other antioxidants.

Market Segmentation

  • Form Insights (Revenue, USD Mn, 2019 - 2031)
    • Powder
    • Tablet/Capsules
    • Liquid
    • Granules
  •  Composition Insights (Revenue, USD Mn, 2019 - 2031)
    • Protein
    • Carbohydrates
    • Minerals
    • Lipids
    • Others
  • End Use Industry Insights (Revenue, USD Mn, 2019 - 2031)
    • Food & Beverages
      • Meat & Poultry
      • Bakery
      • Confectionary
    • Nutraceuticals
    • Cosmetics and Personal Care
    • Feed
    • Pharmaceuticals
    • Others
  • Regional Insights (Revenue, USD Mn, 2019 - 2031)
    • North America
      • U.S.
      • Canada
    • Latin America
      • Brazil
      • Argentina
      • Mexico
      • Rest of Latin America
    • Europe
      • Germany
      • U.K.
      • Spain
      • France
      • Italy
      • Russia
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • Australia
      • South Korea
      • ASEAN
      • Rest of Asia Pacific
    • Middle East & Africa
      • GCC Countries
      • Israel
      • Rest of Middle East & Africa
  • Key Players Insights
    • Cyanotech Corporation
    • Sensient Technologies Corporation
    • NB Laboratories Pvt Ltd
    • DIC Corporation
    • Fuqing King Dnarmsa Spirulina Co. Ltd
    • Evergreen Agro Creations
    • Indian Agri Farm
    • Alpspure Lifesciences Pvt. Ltd.
    • Ideal Natural Extract
    • Lifevision Healthcare
    • Grenera Nutrients Private Limited
    • Far East Bio-Tec Co., Ltd.

Frequently Asked Questions

The CAGR of the global spirulina market is projected to be 7.6% from 2024 to 2031.

Rising health awareness and sustainable growth of food and beverage industry are the major factors driving the growth of the global spirulina market.

High production costs and limited resources and vulnerability to climatic changes are the major factors hampering the global spirulina market.

In terms of form, powder is estimated to dominate the market revenue share in 2024.

Cyanotech Corporation, Sensient Technologies Corporation, NB Laboratories Pvt Ltd, DIC Corporation, Fuqing King Dnarmsa Spirulina Co. Ltd, Evergreen Agro Creations, Indian Agri Farm, Alpspure Lifesciences Pvt. Ltd., Ideal Natural Extract, Lifevision Healthcare, Grenera Nutrients Private Limited, and Far East Bio-Tec Co., Ltd. are the major players.

North America is expected to lead the global spirulina market.

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