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Spirulina Market Segmented By Organic and Conventional Nature and Use in the Powder, Tablets & Capsules Liquid Forms
The market for spirulina can be expected to expand at a value based CAGR of 8.0% and show an increase in revenue from US$ 215.2 Mn to around US$ 465.2 Mn by 2033.
Spirulina Market Size (2023E)
US$ 215.2 Mn
Projected Sales of Spirulina (2033F)
US$ 465.2 Mn
Value CAGR (2023-2033)
Value Share of Top 4 Countries (2022E)
The global spirulina market has witnessed significant growth in the historical period registering a CAGR of 6.2% in the historical period and was valued at US$ 215.2 Mn in 2023. The market is expected to grow steadily with increasing awareness and benefits about applications of spirulina.
Spirulina represents a biomass of cyanobacteria that can be consumed by humans and other animals. Mainly there are two species of spirulina that are further processed for various applications. These include Arthrospira plantensis and Anthrospira maxima. Arthrospira is cultivated worldwide and is used in dietary supplements and also as a whole food. It is available in tablet and capsule, flakes, powder, and liquid form. Further spirulina is also used as a feed supplement in aquarium, aquaculture, and poultry industries widely.
As the health and nutrition factor would continue to dominate consumer food preferences, rising spirulina consumption is expected to drive the market over the coming years. The global market for spirulina is estimated to reach an approximate valuation of US$ 465.2 Mn in the forecast period. Moreover, the EU regulations have become stringent and have banned the usage of synthetic food colours in the food industry, which is expected to boost the sales of spirulina based natural food colours in the region during the forecast period.
“Shift towards promotion of natural food colors produced from spirulina”
Factors such as launch of new varieties of natural food colors produced from spirulina, natural health benefits of spirulina super food, and various government initiatives pertaining to the production of spirulina are expected to spur the growth of global spirulina market during the forecast period. The governments of various countries have started promoting the production of spirulina to strengthen the market and create a decent income source for the rural population. The governments of many countries such as India, Angola and Ghana are actively supporting the local spirulina market and building a strong gateway for the development of this superfood which can change the course of food for the entire race.
The European Food Safety Authority (EFSA) - regulatory agency of the EU countries for food safety has banned the use of synthetic colors in the products consumed in the EU countries which is boosting the growth of the natural market. The Blue Spirulina color has become the most attractive color globally due to its features and texture and is primarily used in the food and beverage industry. Spirulina holds anti-oxidants, hypolipidemic and anti-inflammatory properties due to which it is witnessing a high growth in demand among the food and beverage and cosmetics industries. Antioxidants protect the body from damage caused by harmful molecules (free radicals) which improves the health of a person.
“Nutritional benefits of spirulina finding various applications in the food and beverage industry”
Spirulina consists of Vitamin A, C and E and beta-carotene in large quantities with a minimal quantity of Lutein Zeaxanthin- all these are antioxidants that help in curing various diseases and medical conditions. Changing consumer preferences toward nutritious and healthy products is the new trend for which companies are launching innovative products to supplement the demands of the modern society.
For example, Naked Juice launched their 100% juice range that consists of spirulina as a primary ingredient. Key trends identified in the global spirulina market are an increased production of ready to drink smoothies prepared from spirulina and the surging demand for spirulina in the biofuel industry, which is expected to boost the demand for spirulina during the forecast duration.
“Anti-oxidants and several other properties of Spirulina are increasing the usage”
Spirulina has found use in pet food, animal feed, and fish food because pets and animals can easily metabolize it and do not develop allergies or health complications after ingesting it. Spirulina, which is high in protein, vitamins, and minerals, can improve the health of animals and fish and aid in the treatment of a variety of medical conditions. Spirulina has been used as a food for fish for many decades due to the food preference, which also reduces the cost of commercial fish production. The use of Spirulina as a food for animals and fish is causing significant growth in the product and aiding in the overall development of the food chain.
“Algae as an alternative for biofuel and biodiesel production”
Globally, oil prices are volatile and are influenced by political disputes and controversies. Given the aforementioned factors, as well as the increasing amount of pollution produced by burning petroleum products for fuel, the government and businesses are investigating alternative forms of energy. Spirulina is one of the most recent and promising forms of clean energy, with the potential to outperform solar energy. Algae biofuels are gaining market traction and are expected to skyrocket during the forecast period.
“Environmental Pollution Causing High Incidences of Contaminated Spirulina”
High soil, water, and air pollution in Asia Pacific nations is a problem that has a direct impact on the quality of the spirulina that is grown there. Spirulina is harmful for both people and animals when consumed because of high quantities of arsenic and lead being absorbed due to contaminants. Given the high pollution levels, nations like China and India, two of the top three producers of spirulina globally, are experiencing contamination problems. Most spirulina producers use lakes, ponds, or other bodies of water that are already contaminated with high levels of arsenic, lead, iron, and other elements that can be dangerous if ingested in excess of the recommended amount.
What is the Estimated Outlook for North America and Europe in the Global Spirulina Market?
In terms of value, Europe projected to be the most attractive market in the global spirulina extract market during the forecast period.
North America market is estimated to account for relatively high value share of 26.7% by 2023 end, and is anticipated to register CAGR of 8.8% in terms of value over the forecast period
Europe market is estimated to account for value share of 31.6% by 2023 end, and is anticipated to register CAGR of 7.4% in terms of value over the forecast period.
What is the Projected Growth Outlook for the Chinese Spirulina Market?
In terms of value, China market projected to be the most attractive market in the Asia Pacific spirulina extract market during the forecast period. China market is estimated to account for relatively high value share of 36.6% by 2023 end, and is anticipated to register CAGR of 8.6% in terms of value over the forecast period.
How is the Product Form Segment Expected to grow in the Forecast Period?
Among the product form segment, powder segment is expected to register the highest value CAGR of 10.4% during the forecast period. This is attributed to increasing usage of powder form of spirulina in food. The powder segment was estimated to account for the highest value share of 73.5 in 2023 and the segment is expected to gain significant market share by 2033 end.
The tablet and capsule form segment is anticipated to register the second highest CAGR of 8.8% in terms of value over the forecast period. In terms of volume consumption, the powder segment is projected to register the highest CAGR of 10.2% over the forecast period.
Which Nature of Spirulina is Expected to hold the Major Market Value share?
In terms of value, conventional segment projected to be the most attractive market in the global spirulina extract market during the forecast period. Conventional market is estimated to account for relatively high value share of 62.7% by 2023 end, and is anticipated to register CAGR of 7.3% in terms of value over the forecast period
Organic segment market is estimated to account for value share of 35% by 2023 end, and is anticipated to register CAGR of 8.9% in terms of value over the forecast period.
Prominent players in the global spirulina market include DDW Inc., DIC Corporation, Chr. Hansen A/S, Cyanotech Corp., Sensient Technologies Corp., Fuqing King Dnarmsa Spirulina Co. Ltd., Dongtai City Spirulina Bio-Engineering Co. Ltd. and Now Health Group Inc. Most of the companies engage in aggressive promotion of spirulina-based products in order to improve product positioning and visibility. Higher production and on-shelf availability of spirulina-based products are translating into a significant rise in spirulina sales. Key player are further encouraged by the consolidated nature of the spirulina industry and steadiness in the supply chain.
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The global market for spirulina has a value of US$ 215.2 Mn in 2023.
The global market for spirulina has a value CAGR of 6.2% from 2018-2022.
The global market for spirulina has a value of US$ 465.2 Mn in 2033.
The global market for spirulina has a value CAGR of 8.0% from 2023-2033.
The top players hold more than 40-45% of the market share. They include Cyanotech Corp., DIC Corporation, Chr. Hansen A/S, Dongtai City Spirulina Bio-Engineering Co., Ltd., Roeper GmbH, Zhejiang Binmei Biotechnology Co. Ltd.