Global Spirulina Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

Global Spirulina Market Overview:

“The global Spirulina Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

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The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global spirulina market report has been segmented on the form, end user, and region.

This report is based on the synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market.

In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.

Spirulina is spiral-shaped microalgae which contains antioxidants, minerals, chlorophyll, and phycocyanobilin. It also contains number of nutrients which includes beta-carotene, B vitamins, and vitamin E. Spirulina provides a wide range of health benefits almost immediately upon ingestion and also helps to improve immune system, and provides support to liver heart, and kidneys. Furthermore, it also helps to balance body's pH, thereby reducing inflammation throughout the body in a safe and chemical-free way.

Dynamics

Various health advantages associated with use of spirulina over synthetic food colors is expected to be major factor driving growth of the global spirulina market over the forecast period. In addition, stringent government regulations on use of synthetic colors and flavors is in turn expected to boost growth of the target market over the forecast period. Furthermore, increasing focus of manufacturers to develop and subsequently launch of new varieties of natural food colors produced from spirulina are factors expected to support growth of the global spirulina market over the forecast period.

However, high cost associated with production of spirulina coupled with low stability of spirulina derived food colors are major factors expected to hamper growth of global spirulina market over the forecast period.

Regional Analysis

Market in Europe accounted for significant revenue share of the target market in terms of revenue contribution as compared to that of markets in other regions. Stringent regulation by European Food Safety Authority for selling of synthetic food colors infused products are factors expected to drive growth of market in the region over the forecast period.

North America accounts for second-highest revenue share contribution to the global market, registering a share of XX.X%, followed by markets in the Asia Pacific, Latin America, and the Middle East & Africa respectively.

In addition, the market in the Asia Pacific is projected to register comparatively faster growth in terms of revenue over the next 10 years. Growing demand for spirulina from various industry such as food and beverages, nutraceuticals, and cosmetics & personal care are factors driving growth of the market in the region over the forecast period.

The markets in Latin America and Middle East & Africa are expected to register moderate growth rate in the global spirulina market over the forecast period.

Global Spirulina Market Segmentation:

Global spirulina market segmentation, by form:

• Powder
• Tablets / Capsules
• Liquid
• Granules

 Global spirulina market segmentation, by end-user:

• Food and Beverages
• Nutraceuticals
• Cosmetics & Personal Care
• Feed
• Pharmaceuticals

Global spirulina market segmentation, by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa