The latest report by IMARC Group, titled “Spirulina Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” finds that the global spirulina market grew at a CAGR of around 6% during 2015-2020. 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. Looking forward, the market is expected to exhibit moderate growth during the forecast period (2021-2026).
- Based on the species, the market has been segmented into arthrospira platensis and arthrospira maxima.
- On the basis of the form, the market has been classified into powder, tablet and capsule, liquid, and granule and gelling agent.
- The market has been categorized based on the distribution channel into business to business and business to consumer.
- On the basis of the application, the market has been segregated into nutraceuticals, food and beverages, cosmetics, animal feed, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa (Turkey, Saudi Arabia, and others).
- The competitive landscape of the market has been examined, with some of the key players being ALGATEC.EU, Algenol, Chr. Hansen Holdings A/S, DDW The Colour House, DIC Corporation, E.I.D Parry (India) Limited, Fuqing King Dnarmsa Spirulina Co. Ltd., GNC Holdings LLC., Naturex SA, Now Foods, and Prolgae Spirulina Supplies Private Limited.
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