Dublin, May 17, 2023 (GLOBE NEWSWIRE) -- The "Spirulina Market by Product Type, Distribution Channel, Application - Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The spirulina market is expected to reach $1.10 billion by 2030, at a CAGR of 9.4% from 2023 to 2030, while in terms of volume, the market is expected to reach 102,381.3 tons by 2030, at a CAGR of 8.0% from 2023 to 2030.
The growth of this market is attributed to the increasing health & wellness trends, the growth of the dietary supplements industry, the rising demand for natural food colors, growing vegetarianism, the impact of spirulina cultivation on the environment, strict regulations regarding the inclusion of synthetic colors and flavors, growing preference for spirulina-sourced products, increasing use of spirulina in aquaculture, and growing investments from natural-color manufacturers.
Furthermore, the emergence of new application areas and the growing demand for phycocyanin, spirulina from bio-refineries, and fresh/frozen spirulina are expected to provide significant opportunities for the growth of this market.
Based on product type, in 2023, the powder segment is expected to account for the largest share of the spirulina market.
The large market share of this segment is attributed to its rising demand from nutraceutical manufacturers due to the growing health consciousness among consumers, the increasing use of spirulina powder as an ingredient in various food & beverage products, the growing popularity of the vegan diet, and adoption of herbal ingredients in cosmetic products.
Based on distribution channel, in 2023, the business channel segment is expected to account for the larger share of the spirulina market.
The large market share of this segment is attributed to the direct purchase of bulk spirulina in large quantities by various manufacturers, such as nutraceuticals, food & beverages, and animal feed, among others, for further product development.
Based on application, in 2023, the nutraceuticals segment is expected to account for the largest share of the spirulina market.
The large market share of this segment is attributed to the booming nutraceuticals sector, growing health concerns of the aging population in various countries, growing desire for natural alternatives to traditional pharmaceutical products, and increased awareness among consumers on the link between nutrition and health. However, the food & beverages segment is expected to witness significant growth during the forecast period.
The major market share of North America is attributed to the growing awareness among consumers for natural food products, rising strict regulations against synthetic colors, growing demand for nutraceuticals, growth of subsidiary industries, like cosmetics and biofertilizers, increasing preference for natural protein sources, and presence of key spirulina manufacturers with huge production capacities, especially in the U.S.
Key Questions Answered in the Report:
- Which are the high-growth market segments in terms of product type, distribution channel, application, and geography?
- What is the historical market size for the spirulina market?
- What are the market forecasts and estimates for the period 2023-2030?
- What are the major drivers, restraints, opportunities, and trends in the spirulina market?
- Who are the major players in the market, and what are their market shares?
- Who are the major players in various countries, and what are their market shares?
- How is the competitive landscape for the spirulina market?
- What are the recent developments in the spirulina market?
- What are the different strategies adopted by the major players in the market?
- What are the key geographic trends, and which are the high-growth countries?
- Who are the local emerging players in the spirulina market, and how do they compete with other players?
Drivers
- Increasing Health & Wellness Trends and the Growing Dietary Supplements Industry
- Rising Demand for Natural Food Colors
- Growing Vegetarianism
- Positive Environmental Impact of Spirulina Cultivation
- Strict Regulations for the Use of Synthetic Colors and Flavors
- Growing Preference for Spirulina-sourced Products
- Increasing Use of Spirulina in Aquaculture
- Increasing Investments from Manufacturers of Natural Colors
Restraints
- Low Awareness Regarding the Benefits of Spirulina
- Complexities in Algae Production
- Risk of Contamination
Opportunities
- Emergence of New Application Areas
- Growing Demand for Phycocyanin
- Rising Demand for Spirulina Among Biorefineries
- Increasing Demand for Fresh/Frozen Spirulina
Trends
- Adoption of New Production Technologies (Photobioreactors)
Standards and Regulations
- Spirulina: Recommended Daily Intake (RDA)
- North America
- Europe
Company Profiles (Company Overview, Financial Overview, Product Portfolio, and Strategic Developments)
- Clos Sainte Aurore (France)
- Spirulina Viva (Mexico)
- SPIFORM (France)
- Spirulina La Capitelle (France)
- Aurospirul (India)
- Far East Microalgae Industries
- Co. Ltd. (Taiwan)
- Fuqing King Dnarmsa Spirulina Co. Ltd. (China)
- DIC Corporation (Japan)
- E.I.D. - Parry (India) Limited (a subsidiary of M/s. Ambadi Investments Limited) (India)
- Cyanotech Corporation (U.S.)
- C.B.N. Bio-engineering Co. Ltd (China)
- Yunnan Green A Biological Project Co. Ltd. (a Subsidiary of Yunnan Spirin Biotechnology Co. Ltd) (China)
- Jiangshan Comp Spirulina Co. Ltd (China)
- Inner Mongolia Rejuve Biotech Co. Ltd. (China)
- Zhejiang Binmei Biotechnology Co. Ltd. (China)
- Bluetec Naturals Co. Ltd. (China)
- Taiwan Chlorella Manufacturing Company (TCMC) (Taiwan)
- Roquette Klotze GmbH & Co. KG (Germany)
- Vedan Biotechnology Corporation (Taiwan)
- AlgoSource (France)
- Tianjin Norland Biotech Co. Ltd. (China)
- Allmicroalgae Natural Products S.A. (Portugal)
- Aliga Microalgae (Denmark)
- Taiwan Wilson Enterprise Inc. (Taiwan)
- Algalimento SL (Spain)
- Seagrass Tech Private Limited (India)
- Plankton Australia Pty Limited (Australia)
- Hangzhou Ouqi Food Co. Ltd. (China)
- JUNE Spirulina (a Part of JUNE Group of Companies) (Myanmar)
- Ordos Xinyuli Spirulina Industry Group Co. Ltd. (China)
- Qingdao Haizhijiao Biotechnology Co. Ltd. (China)
- BlueBioTech Group (Germany)
- Sea & Sun Organic GmbH (subsidiary of Sea & Sun Technology GmbH) (Germany)
- Pond Technologies Inc. (Canada)
- Far East Bio-Tec. Co. Ltd. (FEBICO) (Taiwan)
- Givaudan SA (Switzerland)
- Nutragreenlife Biotechnology Co. Ltd. (branch of Greenlife Biotechnology Co. Ltd.) (China)
- Xi'an Fengzu Biological Technology Co. Ltd. (FZBIOTECH) (China)
- Necton S.A. (Portugal)
Scope of the Report:
Spirulina Market, by Product Type
- Powder
- Tablets
- Capsules
- Flakes
- Phycocyanin
- Frozen Spirulina
Spirulina Market, by Distribution Channel
- Business Channel
- Consumer Channel
Spirulina Market, by Application
- Nutraceuticals
- Food & Beverages
- Animal Feed
- Cosmetics
- Agriculture
Spirulina Market, by Geography
- North America
- U.S.
- Canada
- Europe
- France
- Germany
- U.K.
- Italy
- Spain
- Netherlands
- Denmark
- Sweden
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- China
- India
- Japan
- Australia
- Thailand
- Rest of Asia-Pacific (RoAPAC)
- Latin America (LATAM)
- Brazil
- Mexico
- Rest of Latin America (RoLATAM)
- Middle East & Africa (MEA)
- Egypt
- Saudi Arabia
- South Africa
- UAE
- Rest of Middle East & Africa (RoMEA)
For more information about this report visit https://www.researchandmarkets.com/r/wgliy0
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