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The latest report by IMARC Group, titled “Spirulina Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the global spirulina market is expected to grow at a CAGR of 10.4% during 2022-2027. Spirulina is a multicellular and filamentous microalga that is blue-green in color. It is obtained naturally from alkaline water sources such as lakes, rivers, and ponds in warm regions. Spirulina is an eco-friendly and highly nutritious food product as it has hypolipidemic, hypoglycemic, and antihypertensive properties. It also offers antioxidant, anti-inflammatory, and immune-stimulating effects. Spirulina is rich in vitamins A, C, and E, beta-carotene, minerals, phenolics, essential fatty acids, and pigments. As a result, it finds applications in a wide range of industries, such as agriculture, food, pharmaceutics, perfumery, and medicine.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Spirulina Market Trends:
The market is primarily driven by the increasing use of spirulina in dietary supplements, as its regular consumption has been linked with a lower risk of chronic ailments such as cardiac arrest, allergic rhinitis, cancer, and renal diseases. Besides this, stringent regulations implemented against the use of synthetic colors and flavors have increased the preference for natural food colors obtained from spirulina sourced products. Additionally, spirulina is utilized in aquaculture diets and feed additives to enhance the growth and productivity of animals and marine species. Furthermore, research and development (R&D) activities in commercial spirulina products are fueling the market growth.
Market Summary:
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