The global Spirulina Market is valued at USD 502.18 Million in 2022 and is projected to reach a value of USD 1055.82 Million by 2030 at a CAGR of 11.20% over the forecast period.
Spirulina Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2018-2024 Launch of new food varieties and government initiatives and are key drivers for global spirulina market.
Spirulina is a biomass obtained from cynobacteria and consumed by humans and animals. There are two types of Spirulina includes Arthrospira plantensis and Anthrospira maxima are available which are further processed for various applications. It is used as dietary supplement in the form of capsule, powder, liquid and others. Furthermore, it is also used as food supplement for aquarium, poultry industry and others. So, during the study of Global Spirulina market, we have considered Spirulina product type and consumables to analyze the market.
Scope of Spirulina Reports –
Global Spirulina Market report is segmented on the basis of product type, application type, Formulation and by regional & country level. Based upon Product type, global Spirulina Market is classified as Arthrospira plantensis and Anthrospira maxima. Based upon Application type, global Spirulina Market is classified as Nutraceuticals, Food and Beverages, Cosmetics, Agriculture, Feed and Others. Based upon formulation, global Spirulina Market is classified as Powder, Tablet & Capsule, Liquid, and Granule & Gelling Agent.
The regions covered in this Spirulina Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of spirulina is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Market Dynamics –
The commercialization and growth of global Spirulina market over the past 10 years have been highly impactful. Growing awareness among people about the health benefits of Spirulina and natural colors produces from Spirulina is the major factors supporting the growth of Spirulina market. Furthermore, there are various initiatives taken by the government to support the growth of rural area by providing them decent income from Spirulina production this also fuels the Spirulina market. Spirulina comprises of anti-inflammatory, antioxidant properties are which are good for the health. Spirulina is also used for the production of various cosmetics and also used in pharmaceutical industries. However, lower stability of colors produced from Spirulina has lower stability as compared to the synthetic colors which may hamper the growth of Spirulina market.
Regional Analysis –
North America dominates the market with highest market share closely followed by Europe due to increasing demand for natural derived food products. The European government has reduced the daily intake of synthetic colors has also fueled the Spirulina market. Asia Pacific is expected is to experience a rapid growth due to the various government initiatives taken by government in the developing economies to promote the growth of rural areas and provide them better living conditions. In countries like India, China, and others government is promoting the production of Spirulina due to its health benefits. There is also a significant in the aquaculture industry in these regions which is also one of the major factors supporting the growth of Spirulina market over the forecast period. As per Food and Agriculture organization 2018 report the total aquaculture production of 4.43 million tones was valued at US$ 3.5 billion of which carp alone was responsible for as much as 4.18 million tones. So, all the above mentioned factors will support the growth of Spirulina market in the near future.
Key Benefits for Global Spirulina Market Reports –
Global Spirulina market report covers in-depth historical and forecast analysis.
Global Spirulina Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, Regional and Country Level.
Global Spirulina Market report helps to identify opportunities in marketplace.
Global Spirulina Market report covers extensive analysis of emerging trends and competitive landscape.
By Product type analysis: Arthrospira plantensis, Anthrospira maxima
By Application type Analysis - Nutraceuticals, Food and Beverages, Cosmetics, Agriculture, Feed, Others
By Formulation Analysis -Powder, Tablet & Capsule, Liquid, Granule & Gelling Agent
• Rest of Europe
• South Korea
• Rest Of APAC
• Rest of South America
Middle East and Africa
• Saudi Arabia
• South Africa
• Rest Of MEA
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