The spirulina market worth $ 968.6 million by 2028, growing at a


Pune, India, June 22, 2021 (GLOBE NEWSWIRE) – According to a new market research report titled Spirulina market by distribution channel (consumer channel, business channel), product type (powder, tablets, capsules, flakes, phycocyanin extract), application (nutraceuticals, food and drink, agriculture, animal feed) – Global forecast up to in 2028 ”, published by Meticulous Research®, the Spirulina market is expected to grow at a CAGR of 13.2% from 2021 to 2028 to reach $ 968.6 million by 2028. In terms of volume, the spirulina market is expected to register a CAGR of 18.1% from 2021 to 2028 to reach 98,768.5 tonnes by 2028.

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The growth of this market is mainly attributed to growing trends in health and wellness and the dietary supplement industry; growing demand for natural food colors; growing vegetarianism; strict regulations regarding the inclusion of synthetic colors and flavors; growing malnutrition; a growing preference for spirulina products, in particular omega-3 fatty acids; increasing use of spirulina in aquaculture; the increase in investments by the main color houses; and a growing number of products containing spirulina as an ingredient. However, low awareness of the benefits of spirulina and the challenges associated with the production of spirulina is expected to hamper the growth of the global spirulina market to some extent.

The Spirulina market studied in this report is primarily segmented by distribution channel (commercial and consumer channel), product type (powder, tablets, capsules, flakes, phycocyanin extract and frozen spirulina) and application (nutraceuticals, food and beverages, animal feed, cosmetics and agriculture) and geography (Asia-Pacific, North America, Europe, Latin America, Middle East and Africa). The study also assesses the industry’s competitors and analyzes the market on a national level.

Based on the distribution channel, the spirulina market is primarily segmented into consumer and business channels. In terms of value and volume, in 2021, the trade channel segment is expected to account for the largest share of the overall spirulina market. The significant share of this segment is mainly attributed to the direct purchase of bulk spirulina in large quantities by various manufacturers such as nutraceuticals, food and beverage and animal feed, among others, for further product development.

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Based on the type of product, the spirulina market is primarily segmented into powder, tablets, capsules, flakes, phycocyanin extracts, and frozen spirulina. In terms of value, in 2021, the spirulina powder segment is expected to account for the largest share of the overall spirulina market. The large share of this segment is mainly attributed to its growing demand from nutraceutical manufacturers due to the growing awareness of consumer health and the increasing use of spirulina powder as an ingredient in various F&B products. .

Based on the applications, the spirulina market is primarily divided into nutraceuticals, food and drink, agriculture, animal feed, and cosmetics. In terms of value, in 2021, the nutraceuticals segment is expected to account for the largest share of the overall spirulina market. The significant share of this segment is mainly attributed to the booming nutraceutical industry, the growing health concerns of the aging population in various countries, the growing desire for natural alternatives to traditional pharmaceuticals and the increased awareness of consumers of the link. between nutrition and health. However, the food and beverage segment is expected to grow at the fastest CAGR during the forecast period, owing to the increasing demand for spirulina natural food coloring in confectionery products (including candy and chewing). gums), icings, ice creams and frozen desserts, desserts, coatings and fillings, mixes and powders for drinks, yogurts, custards, puddings, cottage cheese, gelatin, breadcrumbs and ready-to-eat cereals.

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On the basis of geography, the global spirulina market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. In terms of value, North America is estimated to account for the largest share of the global spirulina market in 2021, followed by Asia-Pacific and Europe, due to the huge consumption of supplements of health; strict regulations against the use of synthetic colors; the growth of subsidiary industries such as cosmetics and biofertilizers; growing preference for natural protein sources; and the presence of key spirulina manufacturers with enormous production capacities, particularly in the United States. However, Europe is expected to experience significant growth during the forecast period, mainly due to the increased adoption of phycocyanin in the manufacture of therapeutic and nutritional products, a growing reluctance towards the use of colors synthetic products, the growing demand for natural blue dyes and the investments of the main color companies in the field of phycocyanin.

The major players operating in the global spirulina market are Earthrise Nutritional, LLC (United States), DIC Corporation (Japan), Yunnan Green A Bio-engineering Co., Ltd (China), Algene Biotech (India), Tianjin Norland Biotech Co., Ltd. (China), Cyanotech Corporation (United States), EID Parry (I) Ltd. (India), Far East Biotech Co. Ltd., (China), Fuqing King Dnarmsa Spirulina Co., Ltd. (China), Dongtai City Spirulina Bio-engineering Co., Ltd. (China) and Australian spirulina (Australia).

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Scope of the report:

Spirulina Market, By Distribution Channel

  • Business channel
  • General public channel

Spirulina Market, By Product Type

  • Powder
  • Tablets
  • Capsules
  • Flakes
  • Phycocyanin extract
  • Frozen spirulina

Spirulina Market, By Application

  • Nutraceuticals
  • Food and drinks
  • Animal feed
  • Beauty products
  • Agriculture

Spirulina Market, By Geography

  • North America
  • Europe
    • France
    • Germany
    • UK
    • Italy
    • Spain
    • The Netherlands
    • Rest of Europe (RoE)
  • Asia-Pacific (APAC)
    • China
    • India
    • Japan
    • Australia
    • Thailand
    • Rest of APAC (RoAPAC)
  • Rest of the world
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America (RoLATAM)
    • Middle East and Africa

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