Global Spirulina Market by Types (Arthrospira Platensis and Arthrospira Maxima), Applications (Nutraceuticals, Cosmetics, Food and Beverages, Animal Feed, and Others), Drug Formulation (Powder, Tablet & Capsule, Liquid, and Granule & Gelling Agent), and Regions (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa) Forecasts, 2021-2028
The global spirulina market is expected to expand at a high CAGR during the forecast period, between 2021 and 2028. Spirulina is often found in the alkaline waters of lakes, ponds, and rivers of warm countries It is a multicellular, blue-green microalgae. A significant amount of macro- and micronutrients content are found in these plants. They can be harvested and processed effectively. With the rise of spirulina being used as a health food and a protein supplement, microalgae have been increasingly utilized in the food industry and in developing and underdeveloped countries, especially in the regions with high prevalence of malnutrition. Fish largely consume microalgae as a protein and vitamin supplement. Additionally, microalgae can be used as complementary ingredients for poultry feed.
Market Trends, Drivers, Restraints, and Opportunities:
- Manufacturers are launching innovative and unique products in associated with dietary supplements, which in turn, is likely to remain instrumental to the spirulina market growth.
- Rising adoption of natural food coloring among processed food manufacturers is estimated to fuel the growth of the market.
- The use of artificial colorings among local players can negatively influence the growth of the market.
- The safety concerns regarding the artificial coloring and the long-term detrimental health effects have led to paradigm shift in the strategies of key giants and their product offerings. Such factors are anticipated to create lucrative opportunities during the forecast period.
Scope of the report:
The report global spirulina market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
| Attributes | Details |
| Report Title | Spirulina Market - Global Industry Analysis, Size, Share, Growth, Trends And Forecast |
| Base Year | 2020 |
| Historic Data | 2018 & 2019 |
| Forecast Period | 2021–2028 |
| Segmentation | Types (Arthrospira Platensis and Arthrospira Maxima), Applications (Nutraceuticals, Cosmetics, Food and Beverages, Animal Feed, and Others), Drug Formulation (Powder, Tablet & Capsule, Liquid, and Granule & Gelling Agent) |
| Regional Scope | Asia Pacific, North America, Europe, Latin America, and Middle East & Africa |
| Report Coverage | Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast |
| Key Players Covered in the Report | Algene Biotech, Aller Aqua, BASF, Chr. Hansen A/S, Cyanotech Corporation, C.B.N. Spirulina Canada Co., Ltd, DDW - the Color House, DIC Corporation- Earthrise Nutritionals, Dohler Group, Fiorio Colori S.p.A, FMC Corporation, Hydro Linea Biotech, Naturex SA, Royal DSM, Sensient Technologies Corporation, and Solazyme |
Spirulina Market Segment Insights:
Arthrospira plantesis segment to hold a dominant market share
Based on types, the global spirulina market can be bifurcated into Arthrospira platensis and Arthrospira maxima. The Arthrospira plantesis segment held a dominant market share in 2019 and is anticipated to maintain its position during the forecast period. Arthrospira plantesis exhibits antioxidants properties, which increase its applications in various industries, such as food & beverage and pharmaceuticals
Nutraceutical sector is anticipated to account a significant market share
On the basis of applications, the global spirulina market can be segmented into nutraceuticals, cosmetics, food and beverages, animal Feed and others. The nutraceuticals sector recorded a substantial market share and is anticipated to dominate the global spirulina market during the forecast period. This can be attributed to the growing concern for nutrition and health and an increasing preference for natural alternatives in comparison to traditional pharmaceutical products.
Powder segment to hold a substantial market share
In terms of drug formulations, the global spirulina market can be divided into powder, tablet & capsule, liquid and granule & gelling agent. The powder segment held a substantial market share as it is largely used in the food and beverage sector to obtain new customized colours such as lavender, violet and green.
North America and Europe to hold a major share in spirulina market
In terms of regions, the global spirulina market can be fragmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America and Europe are the major producers of spirulina extracts, due to their favorable climatic conditions and wide applications of the products. The regulatory changes and the change in the colorant offerings from the key market players in the US and Canada is fueling the growth of the market in the region. The ban on use of chemicals in colorants in the food industry is spurring the growth of the market in both the regions. Moreover, the demand for clean label and natural ingredients are key factors driving the two markets during the forecast period.
Segments
Segments Covered in the Report
By Types
- Arthrospira Platensis
- Arthrospira Maxima
By Applications
- Nutraceuticals
- Cosmetics
- Food and Beverages
- Animal Feed
- Others
By Drug Formulations
- Powder
- Tablet & Capsule
- Liquid
- Granule & Gelling Agent
By Regions
- North America
- Europe
- Latin America
- Asia Pacific
- Middle East & Africa
By Key Players
- Algene Biotech
- Aller Aqua
- BASF
- Chr. Hansen A/S
- Cyanotech Corporation
- C.B.N. Spirulina Canada Co., Ltd
- DDW - the Color House
- DIC Corporation- Earthrise Nutritionals
- Dohler Group
- Fiorio Colori S.p.A
- FMC Corporation
- Hydro Linea Biotech
- Naturex SA
- Royal DSM
- Sensient Technologies Corporation
- Solazyme
Competitive Landscape
Key players in global spirulina market include Algene Biotech, Aller Aqua, BASF, Chr. Hansen A/S, Cyanotech Corporation, C.B.N. Spirulina Canada Co., Ltd, DDW - the Color House, DIC Corporation- Earthrise Nutritionals, Dohler Group, Fiorio Colori S.p.A, FMC Corporation, Hydro Linea Biotech, Naturex SA, Royal DSM, Sensient Technologies Corporation, and Solazyme, among others. These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.
2. Assumptions and Acronyms Used
3. Research Methodology
4. Spirulina Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Spirulina Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Spirulina Market - Supply Chain
4.5. Global Spirulina Market Forecast
4.5.1. Spirulina Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Spirulina Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Spirulina Market Absolute $ Opportunity
5. Global Spirulina Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Spirulina Market Size and Volume Forecast by Types
5.3.1. Arthrospira Platensis
5.3.2. Arthrospira Maxima
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Spirulina Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Spirulina Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Spirulina Demand Share Forecast, 2019-2026
7. North America Spirulina Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Spirulina Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Spirulina Market Size and Volume Forecast by Types
7.4.1. Arthrospira Platensis
7.4.2. Arthrospira Maxima
7.5. Basis Point Share (BPS) Analysis by Types
7.6. Y-o-Y Growth Projections by Types
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Spirulina Demand Share Forecast, 2019-2026
8. Latin America Spirulina Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Spirulina Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Spirulina Market Size and Volume Forecast by Types
8.4.1. Arthrospira Platensis
8.4.2. Arthrospira Maxima
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Spirulina Demand Share Forecast, 2019-2026
9. Europe Spirulina Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Spirulina Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Spirulina Market Size and Volume Forecast by Types
9.4.1. Arthrospira Platensis
9.4.2. Arthrospira Maxima
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Spirulina Demand Share Forecast, 2019-2026
10. Asia Pacific Spirulina Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Spirulina Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Spirulina Market Size and Volume Forecast by Types
10.4.1. Arthrospira Platensis
10.4.2. Arthrospira Maxima
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Spirulina Demand Share Forecast, 2019-2026
11. Middle East & Africa Spirulina Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Spirulina Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Spirulina Market Size and Volume Forecast by Types
11.4.1. Arthrospira Platensis
11.4.2. Arthrospira Maxima
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Spirulina Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Spirulina Market: Market Share Analysis
12.2. Spirulina Distributors and Customers
12.3. Spirulina Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. Algene Biotech
12.4.2. Aller Aqua
12.4.3. BASF
12.4.4. Chr. Hansen A/S
12.4.5. Cyanotech Corporation
12.4.6. C.B.N. Spirulina Canada Co., Ltd
12.4.7. DDW - the Color House
12.4.8. DIC Corpor
Segments Covered in the Report
By Types
- Arthrospira Platensis
- Arthrospira Maxima
By Applications
- Nutraceuticals
- Cosmetics
- Food and Beverages
- Animal Feed
- Others
By Drug Formulations
- Powder
- Tablet & Capsule
- Liquid
- Granule & Gelling Agent
By Regions
- North America
- Europe
- Latin America
- Asia Pacific
- Middle East & Africa
By Key Players
- Algene Biotech
- Aller Aqua
- BASF
- Chr. Hansen A/S
- Cyanotech Corporation
- C.B.N. Spirulina Canada Co., Ltd
- DDW - the Color House
- DIC Corporation- Earthrise Nutritionals
- Dohler Group
- Fiorio Colori S.p.A
- FMC Corporation
- Hydro Linea Biotech
- Naturex SA
- Royal DSM
- Sensient Technologies Corporation
- Solazyme
Key players in global spirulina market include Algene Biotech, Aller Aqua, BASF, Chr. Hansen A/S, Cyanotech Corporation, C.B.N. Spirulina Canada Co., Ltd, DDW - the Color House, DIC Corporation- Earthrise Nutritionals, Dohler Group, Fiorio Colori S.p.A, FMC Corporation, Hydro Linea Biotech, Naturex SA, Royal DSM, Sensient Technologies Corporation, and Solazyme, among others. These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.
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