Spirulina Powder Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025

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Spirulina Powder Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025

Status : April, 2020 | Food and Beverages | PPT format

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Global Spirulina Powder Market: Snapshot

Commonly known as pond scum spirulina powder actually tastes like pond scum too. Despite it, it is much sought after, reason being it is a superfood packed with protein, B-vitamins, antioxidants, and other nutrients. If harvested in the right manner from non-contaminated water bodies such as ponds, it can prove to be one of the most potent nutrient sources available.

It is mainly comprised of protein and essential amino acids, and is generally suggested to vegetarians due to its high natural iron content. It is recommended during pregnancy, post surgery, or to boost the immune system. The growth in the food supplements industry is mainly serving to boost the demand for spirulina powder.

Surging demand for cyanobacteria on account of its ability to reduce weight and mushrooming fitness centers and health clubs are also boosting the market to a degree. Spirulina powder is finding usage in the hair care and skin care market as well for a range of treatments to reduce aging, grey hair, wrinkles, hair loss, and allergies. The product also finds usage in the medical industry for a range of treatments and formulation of pharmaceutical products.

The market will further proliferate in the future on the back of constant thrust on finding new applications of the product. Researchers in Poland, for example, recently investigated if spirulina powder as a nutritional supplement can positively impact the immune system of athletes.

At present Asia Pacific is the main driver of demand in the global spirulina market because of a large of vegan population, rising uptake of healthcare products, and surging spending capacity of people. Europe and North America markets are playing catch-up with more of their inhabitants opting for a healthier lifestyle. A noticeable trend in North America that is pushing up demand is consumers increasingly buying food supplements as a diet alternative.

Global Spirulina Powder Market: Snapshot

The global spirulina powder market is foretold to attain growth with increasing use of healthy food products and growing health-consciousness among consumers. Spirulina powder could be extensively used not only in whole foods but also dietary supplements. The market is expected to find lucrative applications in various end-use industries such as cosmetic, medicine, and food and beverages. Increase in government support for local manufacturers and government initiatives to raise spirulina production could be other factors promoting the growth of the market. Furthermore, spirulina powder is used in biofertilizer and biofuel industries. It is worth mentioning that the market could gain ample demand from skin and hair care product manufacturers as well.

Growth of the supplements industry is foreseen to bode well for the global spirulina powder market. Moreover, with the rise in the demand for cyanobacteria due to their contribution in weight reduction and increasing number of health clubs and fitness centers, the market could gain a strong boost in the coming years. Health benefits of cyanobacteria have helped them to find usage in desserts, smoothies, juices, salads, and breakfast meals. The skin and hair care market demands spirulina powder as an inclusion in various treatments, including anti-aging, wrinkles, grey hair, hair loss, and allergies. In the medical industry, spirulina powder is used in a range of treatments along with a number of pharmaceutical products.

From a geographical perspective, Asia Pacific is predicted to account for a substantial share of the global spirulina powder market due to rising vegan population, growing usage of healthcare products, and increasing disposable income. Escalating switch toward living a healthy lifestyle, however, could help Europe to become prominent in the market. In North America, some consumers have been using food supplements as a diet alternative. Additionally, growing aging population and obesity problems are projected to help the region to lead the market.

Global Spirulina Powder Market: Overview

Spirulina, a biomass of blue-green algae found in alkaline waters of ponds, lakes, and rivers, is processed to into a dietary supplement or whole food. This is because it is loaded with nutrients such as vitamins A, B12, C, and E, proteins, minerals, essential lipids, and carbohydrates that have myriad health benefits. Spirulina is basically extracted from the two species of cyanobacteria – arthrospira platensis and arthrospira maxima. Spirulina is extensively used as a feed supplement in aquaculture, aquariums, and poultry industries. On account of so many applications, the market for spirulina powder is expected to clock healthy growth over the coming years.

Global Spirulina Powder Market: Key Trends

Majorly fueling the global market for spirulina powder is the rising awareness pertaining to its myriad health benefits. It has high anti-oxidant and anti-inflammatory properties and contains beta-carotene and hypolipidemic which serve to bring down blood pressure and cholesterol. Apart from that, the wide array of natural colors gotten from spirulina are boosting their market too. It finds widespread application in cosmetics and pharmaceutical industries as a result. This has led to governments of many nations such as Ghana, India, and Angola promoting production of spirulina.

One drawback of spirulina powder, on the other hand, is the less stability of the natural colors extracted from it. It is said that natural colors change easily under sunlight. Synthetic colors steal a march over it, when it comes to stability.

Global Spirulina Powder Market: Market Potential

Rising organized retailing and online retailing are providing a major fillip to the sales of spirulina powder. Algae-based dietary supplements and spirulina-based food and beverages are being increasingly sold by large retailers, who are also targeting online platforms to up visibility and sales. Besides, rise in popularity of vegan diet is another prominent growth driver of the market. However, currently, the market is still facing difficulties in distribution. But the rising millennial population highly conscious of their health is expected to open up an avenue for growth in the market.

Global Spirulina Powder Market: Regional Outlook

North America and South America together account for a substantial share in the global market for spirulina powder. The U.S. is the main driver in the region on account of the rising obesity problems and the large pool of elderly in the country. Asia Pacific, Europe, and the Middle East and Africa, which trail the Americas when it comes to generating sales, are nonetheless emerging as lucrative markets. Growing knowledge about the various health benefits of spirulina products is the primary factor promoting their sales in the above regions. The mushrooming hypermarkets, supermarkets, convenience stores, discount stores, and food specialty stores in the aforementioned regions are also playing a key role in stoking sales.

Global Spirulina Powder Market: Competitive Dynamics

Some of the prominent participants in the global market for spirulina powder are Algene Biotech, NOW Foods, Naturya, Bardakci Group, Earthrise Nutritionals, Arwind Enterprise, Penn Herb, AK Biotech, and Sari Food. In order to grow in the market, these players are seen focusing on product development.

The global spirulina market can be segmented into the following:

Global Spirulina Powder Market, by Region

  • North America
  • South America
  • Asia Pacific
  • Europe
  • Middle East and Africa

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.

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