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 : October, 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

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

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

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?