Spirulina is an organism that grows in both fresh and salt water. It is a type of cyanobacteria, which is a family of single-celled microbes that are often referred to as blue-green algae. Spirulina has a high protein and vitamin content, which makes it an excellent dietary supplement. Currently, Spirulina can be found in health food stores and is sold mainly as a dietary supplement in the form of health drinks or tablets. It is also an edible microalga and a highly nutritious potential feed resource for many agriculturally important animal species.
The global spirulina market is expected to reach $596.48 million by 2026 at a CAGR of 7.4% during the forecast period of 2020 to 2026. Intensifying consumer resistance to products containing synthetic food colors, growing health & wellness trends and dietary supplements industry, and increase in number of products that include spirulina as ingredients across the globe are major driving forces for the spirulina market.
The global spirulina market is segmented into North America, Europe, Asia Pacific, and South America, Middle East & Africa. As the world’s second largest economy and the largest producer in global spirulina markets, China exhibits the potential to grow at 7.5% over the next couple of years. With more than 70 producers & suppliers of spirulina located in Yunnan, Inner Mongolia and Jiangxi Province, China’s spirulina producers enjoy the advantages of easy access to raw materials and availability of cheap labor. However, increasingly complex web of environmental policies will pose a major challenge to China's spirulina companies over the next decade.
The global spirulina market will be mainly influenced by substantial traction for spirulina as a naturally sourced color in nutraceuticals, food and beverages, cosmetics, and animal feed. The market for spirulina is dominated by the nutraceuticals industry, which accounted for the largest share of the spirulina consumption in 2019 and is expected to maintain its leading position throughout the forecast period.
The market research report covers the analysis of key stake holders of the global spirulina market. Key companies profiled in the report include Cyanotech Corporation, DIC Corporation, Yunnan Green A Biological Project Co., Ltd., E.I.D. Parry (India) Ltd., Lijiang Gelin Sitong Foodstuff Co., Ltd., Lijiang Chenghai Baoer Biological Development Co., Ltd., Fuqing King Dnarmsa Spirulina Co., Ltd., Jiangshan Comp Spirulina Co., Ltd., Cibainian Bioengineering Co., Ltd., etc.
Some of the metrics this research service discusses are:
- Volume and revenue forecast (by application – Nutraceuticals, Food & Beverages, Animal Feed, Cosmetics; by region – North America, Europe, Asia Pacific, and South America, Middle East & Africa)
- Competitive analysis, in terms of major participants and market share
- Market drivers and restraints
The base year of the study is 2019, and forecasts run up to 2026.
- To analyze and forecast the market size of global spirulina market.
- To classify and forecast global spirulina market based on region, and application.
- To identify drivers and challenges for global spirulina market.
- To examine competitive developments such as expansions, mergers & acquisitions, etc., in global spirulina market.
- To conduct pricing analysis for global spirulina market.
- To identify and analyze the profile of leading players operating in global spirulina market.