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Spirulina is a blue-green microalgae used as a super food. Spirulina holds a vital application as food supplement based on its rich protein, vitamins, minerals and antioxidant content. Spirulina is available in various forms which include powder, liquid and capsules. Owning to the nutritional values obtained from spirulina, the sale of the product is experiencing a surge on a global level.
Spirulina market is segmented on the basis of form which includes powder, capsule & tablet, liquid, and gelling agent. Among these, the powder segment is projected to account for a major market share and projected to grow at CAGR of 8.23% during the forecast period. Further, on the basis of application, the global spirulina market is segmented into nutraceuticals, food & beverages, pharmaceuticals, cosmetic & personal care, and others. Among the applications, nutraceutical is estimated to witness the highest growth of more than 8% during the given forecast period.
Based on the regions, the global spirulina market is segmented into North America, Europe, Asia Pacific, and Rest of the world. Asia Pacific is projected to dominate the market holding majority of the share in the global spirulina market. Robust economic growth is identified to be one of the key drivers for this market in the region. Further, North America is estimated to reach USD 129.20 million by 2023. Europe is projected to have a moderate growth rate during the assessment period.
Key Players
The leading market players in the global Spirulina market primarily are Cyanotech Corporation (Hawaii), DIC Corporation (Japan), E.I.D. Parry (India) Limited (India), Tianjin Norland Biotech Co. Ltd (China), Hydrolina Biotech Private Limited (India), Jiangxi Alga Biotech (China), and Synergy Natural Products Pty Ltd. (Australia)
Target Audience
• Spirulina manufacturers
• Raw material suppliers
• End users
• Retailers and wholesalers
• E-commerce companies
• Traders, importers and exporters
Key Findings
o Asia Pacific is estimated to retain its dominance throughout the forecast period and to grow at a substantial CAGR of 8.45%. Among the Asia Pacific country, China is projected to witness a substantial growth of 9.30% during the forecast period of 2017-2023.
o Spirulina manufacturers find massive opportunity in the U.S. owing to the huge demand of natural color in the food & beverages.
Regional and Country Analysis of Spirulina Market Development and Demand Forecast to 2023 Market
As per the MRFR analysis, the global Spirulina market is expected to reach USD 416.11 million by 2023 at a CAGR of 8.02% during the forecasted period.
The reports also cover country level analysis:
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o France
o Spain
o Rest of Europe
• Asia–Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN Countries
o Rest of Asia-Pacific
• Rest of the World
o Latin America
o Middle East
o Others
Spirulina market is segmented on the basis of form which includes powder, capsule & tablet, liquid, and gelling agent. Among these, the powder segment is projected to account for a major market share and projected to grow at CAGR of 8.23% during the forecast period. Further, on the basis of application, the global spirulina market is segmented into nutraceuticals, food & beverages, pharmaceuticals, cosmetic & personal care, and others. Among the applications, nutraceutical is estimated to witness the highest growth of more than 8% during the given forecast period.
Based on the regions, the global spirulina market is segmented into North America, Europe, Asia Pacific, and Rest of the world. Asia Pacific is projected to dominate the market holding majority of the share in the global spirulina market. Robust economic growth is identified to be one of the key drivers for this market in the region. Further, North America is estimated to reach USD 129.20 million by 2023. Europe is projected to have a moderate growth rate during the assessment period.
Key Players
The leading market players in the global Spirulina market primarily are Cyanotech Corporation (Hawaii), DIC Corporation (Japan), E.I.D. Parry (India) Limited (India), Tianjin Norland Biotech Co. Ltd (China), Hydrolina Biotech Private Limited (India), Jiangxi Alga Biotech (China), and Synergy Natural Products Pty Ltd. (Australia)
Target Audience
• Spirulina manufacturers
• Raw material suppliers
• End users
• Retailers and wholesalers
• E-commerce companies
• Traders, importers and exporters
Key Findings
o Asia Pacific is estimated to retain its dominance throughout the forecast period and to grow at a substantial CAGR of 8.45%. Among the Asia Pacific country, China is projected to witness a substantial growth of 9.30% during the forecast period of 2017-2023.
o Spirulina manufacturers find massive opportunity in the U.S. owing to the huge demand of natural color in the food & beverages.
Regional and Country Analysis of Spirulina Market Development and Demand Forecast to 2023 Market
As per the MRFR analysis, the global Spirulina market is expected to reach USD 416.11 million by 2023 at a CAGR of 8.02% during the forecasted period.
The reports also cover country level analysis:
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o France
o Spain
o Rest of Europe
• Asia–Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN Countries
o Rest of Asia-Pacific
• Rest of the World
o Latin America
o Middle East
o Others
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
