Market Overview:
The global spirulina market is estimated to reach at a high CAGR during the forecast period 2024-2031
Spirulina is a biomass of blue-green algae (cyanobacteria) which can grow in both fresh and saltwater. Spirulina produces energy from sunlight through the photosynthesis process, similar to plants and is considered as edible for both humans and animals. It can be produced and flourishes in warm water alkaline ponds or rivers. Spirulina is the best source of protein and it is commercially produced in large-scale culture systems. Its growth requires less water and land and can grow in any climate in tropical regions.
In environments with good mineral content, it grows quickly with high concentrations of vitamins and minerals, high nutrient content and low nucleic acid content. In developing countries of Africa and Asia, it is used as food, feed and fuel. For human nutrition, it is cultivated on a large-scale commercial farm with clean waters and under strict conditions, while it can also grow in wastewater and be used in animal feed.
Market Overview:
| Metrics | Details |
| CAGR | High |
| Size Available for Years | 2022-2031 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$) |
| Segments Covered | Form, Distribution Channel, End User, Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America and Middle East & Africa |
| Fastest Growing Region | Asia-Pacific |
| Largest Region | North America |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Market Dynamics
Spirulina helps to reduce risks of heart attack, kidney issues. These health benefits boost the demand for spirulina
Spirulina is one of the most popular health supplements consumed globally. It has various antioxidants and nutrients which are beneficial for human body and brain health. It contains pain-relief, anti-inflammatory, and brain-protective properties to treat various diseases such as brain stock, heart attack, kidney problems, and blood pressure.
Fatty structures in the human body are sensitive to oxidative damage; regular consumption of spirulina reduces the risk of oxidative damage. Its main active element is phycocyanin, an antioxidant substance that produces spirulina in its unique blue-green color. Phycocyanin fights with free inhibits and radicals’ production of provocative signaling molecules, producing effective anti-inflammatory and antioxidant impacts.
Market Segmentation
Increasing use of spirulina in pharmaceuticals raised its demand
Spirulina is a plant-based algae powder that is particularly high in protein, B-vitamins, antioxidants and other nutrients. It is mostly made up of protein and vital amino acids and is typically suggested to vegetarians for its great natural iron content. The high intensity of iron and protein is ideal during pregnancy and post-surgery conditions, when the immune system requires supplementation. Spirulina also contains various bioactivities including anti-inflammatory, anti-allergic, anticancer, antidiabetic, antiviral, antiobesity and antibacterial actions, which is spurring the demand for spirulina in pharmaceuticals
Spirulina helps to increase glucose and lipid metabolism while decreasing liver fat and defending heart problems. It is of similar potency as usually used booster drugs for neurological diseases in animal feed which effects also continue to immunology and arthritis. The main ingredient is phycocyanobilin; it stimulates the body’s bilirubin compound to restrict an enzyme complex.
Market Geographical Penetration:
Asia-Pacific dominates the spirulina market
Asia-Pacific region is the largest consumer of spirulina globally. Due to rapid growth in population with growing health awareness, people use spirulina to reduce various health problems. It is also utilized in animal feed, human food & Beverages, pharmaceuticals, cosmetics & personal care products, increasing demand for spirulina in the Asia-Pacific region.
Growing consciousness towards healthy and plant-based products enhances the demand for spirulina. It is a great source of minerals and vitamins, including iron and magnesium.
The fast-paced lifestyle of urban populace creates issues such as depression and anxiety for a majority of population. Also, tiredness and a sedentary lifestyle increase risk of obesity and improper nutrition, thereby increasing the demand for spirulina in Asia-Pacific region.
Market Competitive Landscape
Wide usage of spirulina in food & beverages, cosmetics and animal feed made the market competitive
The global spirulina market is highly fragmented with large number of players providing various forms of spirulina for wide range of industrial applications. Sensient Colors LLC, Parry Nutraceuticals, NOW Foods, Naturex, Naturalin Bio-Resources Co., Ltd., Guardian.in., Fuqing King Dnarmsa Spirulina Co., Ltd., ECPlaza Network Inc., Far East Bio-Tec Co., Ltd., Green Wave Ingredients Inc., DIC CORPORATION, Cyanotech Corporation, Chr. Hansen A/S are some of the leading players in the market
- In September 2020, Chr. Hansen launches a new FruitMax blue. Blue, however, is particularly limited in the essential shade palette. It comes from spirulina, also well-known in the food additives market as a “superfood.” Solid in many uses, regular spirulina formulations reach their match in the healthy production requirements of boiled candy.
- In May 2019, Naturex was utilizing natural products expo west 2019 to launch two interesting ingredients that provide popular customer health & wellness aims while reacting to challenges. The plant-based components specialist has also launched a new upgraded version of its VegeBrite Spirulina natural blue color, presenting a solution to the industry’s resumed search for really vibrant blues.
- In January 2021, SNACK(TM) Launched Spirulina Powder and Superfood Cluster on Amazon Prime.
COVID-19 Impact On Spirulina Market:
Spirulina helps to combat with COVID-19 virus increased the demand for spirulina
The outbreak of the COVID-19, created by severe serious respiratory syndrome coronavirus 2 that has produced huge panic globally, has a mortality rate of 0.5% to 1% and is regularly increasing. Boosting immunity was an easy process to combat viral infection and end deaths. During COVID period, the effectiveness of nutraceuticals emerges to be a possible remedy.
The strength of algae-based nutraceuticals, essentially spirulina, to raise immunity toward viral diseases has now been reported pandemic. Spirulina-based nutraceuticals products promote natural immunity and bioactive compounds, such as angiotensin-converting enzyme (ACE) inhibitor peptides, sulfated polysaccharides, phycobiliproteins and calcium-spirulina, served as antiviral factors.
The appearance of these particles plays an essential role in combating infection and COVID-19 disease progression. The possible use of algal nutraceuticals is as immune supporters to fight the coronavirus. The potential use of Spirulina-based nutraceuticals for combating COVID-19 boosts the demand for spirulina in 2020-2021.
