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Global Spirulina Market Analysis| Coherent Market Insights

Asia Pacific is expected to be the fastest growing market for spirulina, witnessing highest CAGR of 14.48%.

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Global Spirulina Market Analysis| Coherent Market Insights

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  1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker

  2. GLOBAL SPIRULINA MARKET ANALYSIS Global SpirulinaMarket,byForm (Powder, Tablet / Capsules, Liquid, Granules), by Composition (Protein, Carbohydrates, Minerals, Lipids, and Others), by End-use Industry (Food & Beverages, Nutraceuticals, Cosmetics and Personal Care, Feed, Pharmaceuticals, and Others), and by Region - Insights, Size, Share, Opportunity Analysis, and Industry Forecast till 2025

  3. Market Insights • Spirulinais a nutritional supplement, majorly obtained from the two species of cyanobacteria, including arthrospira maxima and arthrospiraplatensis. Spirulina is defined as a type of algae that grows naturally in the alkaline waters of lakes, ponds, and rivers in warm regions. Spirulina is associated with high nutritional value, including vitamins A, C, E, and B12, and minerals, protein, carbohydrates, and essential lipids. Arthrospira is used in dietary supplements, as whole food, and is available in varied forms such as capsules, tablets, flakes, powder, and liquids. Furthermore, spirulina is extensively used as a feed supplement in aquaculture, aquariums, and poultry industries.

  4. Growing awareness regarding the health benefits of spirulina super food among consumers and wide variety of natural colors produced by spirulina are the major factors propelling growth of the spirulina market. Furthermore, the government of countries such as India, Ghana, and Angola are promoting the production of spirulina, considering its health benefits, thus strengthening this market. Spirulina comprises high anti-oxidant, hypolipidemic, beta-carotene, and anti-inflammatory properties. Owing to exceptional properties, spirulina offers health benefits including reduced cholesterol and blood pressure. Growing penetration of spirulina in the cosmetics and pharmaceutical industries is further expected to propel tremendous growth to this market during the forecast period (2017 – 2025). • However, lower stability of natural colors derived from spirulina as compared to synthetic colors is considered as a threat against market growth. These natural colors have poor sustainability against the effect of light, thereby changing its color easily.

  5. Regional Analysis • In terms of revenue, Europe held a dominant position in the market in 2016, accounting for 32.00% share in the global market for spirulina. Growth of the market in the region is attributed to the increasing demand for naturally derived food coloring agents in the region. Furthermore, in 2014, the European Food Safety Authority (EFSA) has lowered the acceptable daily intake for synthetic food color, including sunset yellow FCF (E110), ponceau 4R (E124), and quinolone yellow (E104). This in turn, increased the demand for natural food colors in the region, thus supporting growth of the spirulina market. As spirulina has a high content of a natural pigments that imparts blue color and is combined with other colors, in order to obtain new customized colors such as lavender, violet, and green. However, the blue spirulinacolor is used extensively in the food and beverages industry and is the most popular natural food color in the region.

  6. Asia Pacific is expected to be the fastest growing market for spirulina, witnessing highest CAGR of 14.48%, owing to robust growth of the food processing industry in the region. Furthermore, growing demand for spirulina powder among vegetarian consumers is another factor fueling growth of this market, as spirulina is a 100% vegetarian dietary supplement. According to the Food and Agriculture Organization of the United Nations, India recorded the lowest rate of meat consumption in the world in 2007, which is due to the large number of vegetarian demographics, residing in India. Rapidly growing aquaculture in the region is expected to fuel the spirulina market during the forecast period, owing to the extensive consumption of spirulina in aquatic farming and hatchery. According to the Food and Agriculture Organization of the United Nations (FAO), the aquaculture in Asia Pacific has recorded an appreciable growth in the past three decades and in 2014. Owing to this, Asia Pacific was projected as the key supplier to the global seafood trade, with Asian aquaculture being the major contributor in the traded seafood commodities. This fully fledged aquaculture in the region is in turn boosting growth of the spirulina market.

  7. Market Segmentation On the basis of form, the global spirulina market is segmented into powder, tablets/capsules, liquids, and granules. The powder segment held a dominant position, in terms of volume, in 2016 due to its ease of application as compared to the liquid form. The segment is expected to maintain its dominance during the forecast period, witnessing highest CAGR among others. Furthermore, the tablets and capsules segment is expected to be the second largest segment during the forecast period.

  8. Figure1. Global Spirulina Market Share, By Form, 2016

  9. Competitive Section Major players operating in the spirulina market are Sensient Technologies Corporation, Algaetech International SdnBhd, DDW The Color House, Algene Biotech, Chr. Hansen Holding A/S, Cyanotech Corporation, DIC Corporation, Fuqing King DnarmsaSpirulina Co. Ltd, and Sunrise Nutrachem Group Co. Ltd. 

  10. Request Sample Report • Request Customization • Download PDF Brochure • Talk to Analyst Reference: https://www.coherentmarketinsights.com/market-insight/spirulina-market-972

  11. About Us Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. What we provide: • Customized Market Research Services • Industry Analysis Services • Business Consulting Services • Market Intelligence Services • Long term Engagement Model • Country Specific Analysis

  12. Contact Us Mr. Shah Coherent Market Insights Pvt.Ltd. Address: 1001 4th Ave, #3200 Seattle, WA 98154, U.S. Phone: +1-206-701-6702 Email: sales@coherentmarketinsights.com

  13. Thank You! Kindly follow CMI Social Media Profiles for the latest company updates Facebook Linkedin Twitter https://www.coherentmarketinsights.com/

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