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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
The study presents reliable qualitative and quantitative insights into:
The regional analysis covers:
The vast market research data included in the study is the result of extensive primary and secondary research activities. Surveys, personal interviews, and inputs from industry experts form the crux of primary research activities and data collected from trade journals, industry databases, and reputable paid sources form the basis of secondary research. The report also includes a detailed qualitative and quantitative analysis of the market, with the help of information collected from market participants operating across key sectors of the market value chain. A separate analysis of macro- and micro-economic aspects, regulations, and trends influencing the overall development of the market is also included in the report.
Highlights of the report:
Note: Immense care has been taken to present data with the highest levels of accuracy in all TMRResearch reports. Nevertheless, recent developments related to market/vendor landscape may take time to reflect in the analysis.
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