Spirulina Market is projected to Reach US$ 968.6 Million by 2030, at a CAGR of 13.2% during the forecast period 2023-2030, Data By Contrive Datum Insights
Contrive Datum Insights Pvt Ltd
8 min read
Contrive Datum Insights Pvt Ltd
According to a market research study published by Contrive Datum Insights, North America will have the biggest part of the global spirulina market, but the market for spirulina is projected to grow quickly in the Asia-Pacific
Farmington, March 19, 2023 (GLOBE NEWSWIRE) -- The Spirulina Market is expected to reach USD 968.6 Million by 2030, at a CAGR of 13.2% during the forecast period 2022 to 2030. Spirulina is a type of blue-green algae, which is another name for this type of plant. Spirulina is called a "superfood" because it has a lot of good nutrients. Protein, beta-carotene, fatty acids, vitamins, copper, and iron are all in spirulina. Spirulina comes in two main types: Arthrospira and Arthrospira. Phycocyanin is a blue pigment that is taken from algae. It is mostly used as a natural colorant in foods and drinks. The global spirulina market is growing because more and more people want green ingredients in their food.
Spirulina has antioxidant and cleaning qualities, and it also has trace elements like selenium and zinc that are important for skin health. Also, it makes the skin firmer and more flexible. Spirulina is used in many cosmetics and personal care items because it contains phycocyanin, which helps the skin get rid of toxins and stay moist.
Spirulina Market Recent Developments:
In 2020, Chrome. Global bioscience company Hansen A/S presents "FruitMax® blue". The launch of spirulina-based products is expected to help the company strengthen its business and increase its revenue share.
In 2018, food manufacturing company Algama Foods focused on relaunching its spirulina water after extensive product development to improve taste and stability. Made with concentrated, dried extracts of blue spirulina, rich in phycocyanin, vitamins, and minerals, Spring Wave is an antioxidant-rich and refreshing drink.
In August 2019, Scottish biotechnology company ScotBio developed a patent-protected method to improve the phycocyanin pigment content of spirulina. Phycocyanin produced by incorporating this new method provides a 5-fold higher yield compared to conventional extraction.
Spirulina Market Dynamics:
The main things that are driving the growth of the global spirulina market are the increasing demand for natural food products and the fact that spirulina can be used in many different ways in the food and beverage and biotechnology industries. Also, the rise of the segmented target market is likely to be helped by the fact that major players are doing more research and development on new products and are coming up with new solutions.
The growth of the global spirulina market is likely to be slowed by high production costs and changes in the prices and supply of raw materials. Also, strict government rules about product approval are likely to slow the rise of the target market. But players in the spirulina market are likely to find new opportunities as key players spend more on product development and focus on finding untapped markets. Deals in the target market are also likely to be helped by the growing number of partnerships and agreements to improve distribution networks.
Regional Outlook:
The study forecasts revenue growth at the global, regional, and country levels and looks at recent industry trends in each subsegment from 2017 to 2030. By 2021, it is expected that North America will have the biggest part of the global spirulina market. But the market for spirulina is projected to grow quickly in the Asia-Pacific region, especially in China, India, and Japan, over the next few years. The rise of the market is likely to be driven by the presence of local and regional players, the growing dietary supplement industry, the growing need to end malnutrition, good weather conditions, and low production costs. The Asia-Pacific spirulina market is also growing because the government is doing things to promote the use of spirulina and because study is still going on to find new ways to use spirulina.
Earthrise Nutritional, LLC (U.S.), DIC Corporation (Japan), Yunnan Green A Bio-engineering Co., Ltd (China), Algene Biotech (India), Tianjin Norland Biotech Co., Ltd. (China), Cyanotech Corporation (U.S.), E.I.D. 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), Hydrolina Biotech, GreeNatr Premium, Nutrex Hawaii, Health Force, Source Naturals, Triquetra Health, Solaray (Nutraceutical International Corporation), Viva Naturals, and Others
Base Year
2022
Historical Year
2017 to 2021
Forecast Year
2023 to 2030
Spirulina Market Key Segments Covered:
Top Market Players: Earthrise Nutritional, LLC (U.S.), DIC Corporation (Japan), Yunnan Green A Bio-engineering Co., Ltd (China), Algene Biotech (India), Tianjin Norland Biotech Co., Ltd. (China), Cyanotech Corporation (U.S.), E.I.D. 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), Hydrolina Biotech, GreeNatr Premium, Nutrex Hawaii, Health Force, Source Naturals, Triquetra Health, Solaray (Nutraceutical International Corporation), Viva Naturals, and Others.
Spirulina Market by Types:
Arthrospira Platensis
Arthrospira Maxima
Spirulina Market by Applications:
Nutraceuticals
Food & Beverages
Animal Feed
Cosmetics
Agriculture
By Formulation
Powder
Tablet & Capsule
Liquid
Granule & Gelling Agent
Regions and Countries Covered
North America: (US, Canada, Mexico, Rest of North America)
Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
Latin America: (Brazil, Argentina, Rest of Latin America)
Rest Of the World
Check out more related studies published by Contrive Datum Insights:
In Vitro Fertilization (IVF) Market - The global In Vitro Fertilization (IVF) Market was valued at USD 15.72 Billion in 2022 and is projected to reach USD 33 Billion by 2030, growing at a CAGR of 8.6% from 2023 to 2030. In 2021, more than 38% of all revenue from the in vitro fertilization market came from Europe. This made Europe the market leader. In the coming years, the regional market will grow because of things like the rise of medical tourism and changes in the law about IVF techniques. People from the U.S. are going to the Czech Republic more and more to get IVF treatments at lower prices.
Coil Coatings Market - The global Coil Coatings Market was valued at USD 5.0 Billion in 2022 and is projected to reach USD 6.8 Billion by 2030, growing at a CAGR of 4.7% from 2023 to 2030. In terms of value, 44.2% of the coil coatings market around the world was in Asia Pacific in 2021. In terms of value, the coil coatings market in the region is expected to grow at a CAGR of 6.9% over the next few years. The Asia-Pacific region has the biggest market share for coil coating in the whole world. The next region is Europe, which comes after the Asia-Pacific region.
Fuel Management System Market - The Fuel Management System Market size was valued at USD 556.45 Million in 2022 and is projected to reach USD 906.60 Million by 2030, growing at a CAGR of 6.29% from 2023 to 2030. North America is expected to have the largest share of the fuel management system market from 2023 to 2030. This is because fuel management systems are widely used in the U.S., which has caused the region's share to grow quickly. Asia-Pacific, on the other hand, is expected to grow in a good way because a lot of moving goods and equipment depends on a good transportation system that uses fuel well.
Explosive Detectors Market - The Global Explosive Detectors market size was valued at US$ 5.97 Billion in 2022 and to reach US$11.10 Billion by 2030, growing at a CAGR of 8.2% from 2023 to 2030. Geographically, the global explosive detectors market is split into Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa. North America is expected to have a high rate of adoption for explosive detectors in a number of different vertical markets.
Customization of the Report: The report can be customized as per client needs or requirements.For any queries, you can contact us on anna@contrivedatuminsights.com or +1 215-297-4078. Our sales executives will be happy to understand your needs and provide you with the most suitable reports.
About Us: Contrive Datum Insights (CDI) is a global delivery partner of market intelligence and consulting services to officials at various sectors such as investment, information technology, telecommunication, consumer technology, and manufacturing markets. CDI assists investment communities, business executives, and IT professionals to undertake statistics-based accurate decisions on technology purchases and advance strong growth tactics to sustain market competitiveness. Comprising of a team size of more than 100 analysts and cumulative market experience of more than 200 years, Contrive Datum Insights guarantees the delivery of industry knowledge combined with global and country-level expertise.
