Spirulina Market is expected to grow ata CAGR of 10.3% from 2020-2030
The Spirulina Market is expected to grow ata CAGR of 10.3% from 2020-2030, according to a new research report by Next MoveStrategy Consulting
Spirulina is a blue green algae with high nutrient content, usuallyconsumed by human & animals. Spirulina is obtained from three species ofblue green algae named as Arthrospirafusiformis, A. platensis, and A. Maxima. Spirulinais widely used in dietary supplements or in whole fooddue to its several healthbenefits. It is also used as a complementary diet ingredient in aquaculture& poultry feeds owing to the presence of high protein & vitamincontent.
According to the report, growth in health consciousness among people andthe rising demand for dietary supplements are major factors driving the spirulinamarket growth. Unhealthy food habitamong large population is leading to the deficiency of various necessary nutrientsin the body. In order to manage such deficiencies, there has been significantrise in the consumption of neutraceuticals. Also, acknowledging several healthbenefits linked with the consumption of spirulina, government in many countriesare promoting the production of spirulina a large scale. Moreover, changingconsumer preferences and launch of new spirulina derived products in the marketwith high antioxidants & vitamin content are also expected to support themarket growth. Additionally, high penetration of spirulina in industries suchas cosmetics and pharmaceutical owing to the advantageous properties such asanti-aging, anti-wrinkles and othersare bringing changes in market tends.
However, low stability & poor sustainability of spirulina derivedcolours is expected to restrict the market growth.Moreover, growth in research& development activities followed by untapped market opportunities in developingeconomies are anticipated to provide numerous opportunities to the marketplayers in the coming few years.
On the basis of type, spirulina market share is segmented into ArthrospiraPlatensis and Arthrospira Maxima. Arthrospira Maxima dominates the global Spirulinamarket and will be the dominant throughout the forecasted period.
On the basis of application, the Spirulina market is categorised into Nutraceuticals,Food & Beverages, Cosmetics, Animal Feed, and Others.Food & Beveragessegment is likely to develop significantly over the period of time owing tofast growing food & beverage industry.
On the basis of drug formulation, the spirulina market is bifurcatedinto Powder, Tablet & Capsule, Liquid, and Granule & Gelling Agent. Powdersegment is expected to account for the major market share & dominate themarket growth over the forecast period.
North America dominates the spirulina market in terms of market size&shareover the forecast period, owing to rising health consciousness among people. Suchhealth consciousness has created demand for Nutraceuticals& dietarysupplements owing to their several health benefits.Europe holds the secondleading position in the spirulina market in terms of market size. Asia Pacificis expected to be the fastest developing region in the spirulina market, majorlydriven by the rising demand of spirulina from various industries such ascosmetics, food & beverage and others. Moreover, supportive governmentinitiatives to increase local spirulina production and rapid development infood processing industry are also expected to boost the market growth.
According to the report, some the key players in the spirulina market areDIC Corporation, Cyanotech Corporation, Chr. Hansen Holding A/S, AlgenolBiofuels Inc., Dongtai City Spirulina Bio-engineering Co., Ltd., Prolgae, ParryNeutraceuticals, Sensient Technologies Corporation, DDW Inc., Algatec andNaturex S.A.
Browse key industry insights from the report, “SpirulinaMarket Size By Type (ArthrospiraPlatensisand Arthrospira Maxima) By Application (Nutraceuticals, Food & Beverages,Cosmetics, Animal Feed, and Others), By Drug Formulation (Powder, Tablet &Capsule, Liquid, and Granule & Gelling Agent)Regional Outlook (U.S.,Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan,Australia, Indonesia, Malaysia, South Korea, Brazil, Mexico, South Africa, SaudiArabia, UAE, Kuwait), Growth Potential, Price Trends, Competitive Market Share& Forecast, 2020–2030” in detail along with the tableof contents:
Key Insights from the Spirulina Market Report:
- Asia Pacific is the fastest growing region in Spirulina market owing to the rising demand of spirulina from various industries such as cosmetics, food &beverages, healthcare and others and government initiatives to promote local spirulina production.
· The Food & Beverages segment dominatesthe market in terms of application and is expected to grow at a significantCAGR to maintain the lead till 2030.
- Some of the major players in the market are DIC Corporation, Cyanotech Corporation, Chr. Hansen Holding A/S, Algenol Biofuels Inc., Dongtai City Spirulina Bio-engineering Co., Ltd., Prolgae, Parry Neutraceuticals, Sensient Technologies Corporation, DDW Inc., Algatec and Naturex S.A.
The report Spirulina market –segmented by type, application, drug formulation and geography
Get afree sample on the Spirulina Market report
About Next Move StrategyConsulting
Next Move Strategy Consulting is an independent and trustedthird-platform market intelligence provider, committed to deliver high quality,market research reports that help multinational companies to triumph over theircompetitions and increase industry footprint by capturing greater market share.Our research model is a unique collaboration of primary research, secondaryresearch, data mining and data analytics.
We have been servicing over 1000 customers globally that includes90% of the Fortune 500 companies over a decade. Our analysts are constantlytracking various high growth markets and identifying hidden opportunities ineach sector or the industry. We provide one of the industry’s best qualitysyndicate as well as custom research reports across 10 different industryverticals. We are committed to deliver high quality research solutions inaccordance to your business needs. Our industry standard delivery solution thatranges from the pre consultation to after-sales services, provide an excellentclient experience and ensure right strategic decision making for businesses.
Formore insights, please visit,
https://www.nextmsc.com
