Spirulina
Market Size and Growth Rate:
According to our report, the size of
the Global Spirulina Market was valued at USD 703.6 Million in 2017 and this
size predicted to cross USD 1958.4 Million by the end of 2025 registering a
CAGR of 12.39% during the forecast period 2018-2025.
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details of 312 number of pages research report developed on Spirulina Market @
Spirulina
Market Overview:
Spirulina is a naturaloccurring algae
powder that is also known as cyanobacteria which comprises of strong level of
proteins, antioxidants, and vitamin B amongst other nutrients. It is known to exhibit
various benefits such as lowering of LDL and triglyceride levels and anticancer
properties,helps reduces blood pressure, is effective against anaemia, and
improves muscle strength. Spirulina can be consumed by humans and other animals
as well. There exist 2 main species of spirulina which are used for various
applications. These include Arthrospira plantensis and Anthrospira maxima.
Arthrospira is refined worldwide and is used in dietary supplements and also as
a whole food. It is available in the form of tablet and capsule, flakes,
powder, and liquid form.
Spirulina is today also used as a feed
supplement in aquarium, aquaculture, and poultry industries widely.Various factors
such as the launch of new varieties of natural food colours formed from
spirulina, natural health benefits of spirulina super food, and various
government initiatives relating to the production of spirulina are expected to keep
the market growing.
Spirulina
Market Growth Drivers and Restraints:
The rising demand for natural and
clean label colours has reconstructed a demand for
spirulina extracts. However, specific climatic conditions required for the
growth of algae are
limiting the market, which is resulting in countries highly relying on imports
to meet the demand. Furthermore, the high costs experienced in developing the
product are also warning the market.
In spite of it all, the growing
disposable incomes and consciousness of the natural product efficiency in the
developing economies are all creating opportunities for growth of
the global spirulina market during the forecast period. Novelties and
funding supporting research are also major avenues to explore in the coming
years which will boost the market in the coming years.
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Spirulina
Market Geographical Segmentation:
Geographically, the market is
segmented into North America, Europe, Asia-Pacific, and LAMEA. The North
American and AsiaPacific regions are major producers of spirulina, due to their
favourable climatic conditions and wide applications of the products. United
States, Japan, and Germany are the major consumers of the products. Moreover, due
to the ban on chemicals as colorants in the food industry in these regions, the
United States and Europe have become blooming markets. The demand for clean
label and natural ingredients in the western world especially, is expected to
drive the market in the forecast period.
Key
players of the Spirulina Market:
Some of the major companies in this
market are Algene Biotech, Aller Aqua, BASF, Chr. Hansen A/S, Cyanotech
Corporation, Ltd, DDW - the Color House, DIC Corporation- Earthrise
Nutritionals, Dohler Group, Fiorio Colori S.p.A, C.B.N. Spirulina Canada
Co.,FMC Corporation, Hydro Linea Biotech, Naturex SA, Royal DSM, etc.
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