Press release
Adoption Scenario of Spirulina Market to Remain Positive Through 2026
Natural color produced from Spirulina has a great potential in the global market
US-based companies such as Cyanotech Corp., DDW Inc., Sensient Technologies Corp., GNC Holdings, Inc., Now Health Group Inc. are recognized as some of the leading manufacturers of spirulina in the world. Other key players profiled in the report include, GNT Holdings B.V., Fuqing King Dnarmsa Spirulina Co., Ltd., Dongtai City Spirulina Bio-Engineering Co. Ltd., DIC Corporation, and Chr. Hansen A/S.
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Market Segmentation By Application Type:
.Nutraceutical
.Food and beverage
.Animal feed
.Cosmetics and Spa treatment
.Bio-fuel
The report reveals that regulatory bodies from around the globe are approving the use of spirulina in production of new food items & beverages. Leading foodmaker The Mars Inc.’s petition for approval of spirulina as a key ingredient in production of new products was conceded by the FDA, garnering attention of other prominent manufacturers of food & beverage products. Furthermore, commercial-scale production of spirulina has also become more feasible due to advent to technological advancements. Cost-effectiveness of such production procedures are guaranteeing higher profit margins for spirulina manufacturers, effectuating a significant rise in entry of new players in the market.
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Spirulina represents a biomass of cyanobacteria that can be consumed by humans and other animals. Mainly there are two species of spirulina which are being further processed for various applications. These include Arthrospira plantensis and Anthrospira maxima. Arthrospira is cultivated worldwide and is used in dietary supplements and also as whole food. It is available in tablet and capsule, flakes, powder, and liquid form. Further, spirulina is also used as a feed supplement in aquarium, aquaculture, and poultry industries widely.
In 2016, sales of nearly 90 thousand tons of spirulina powder was recorded across the globe. Highlighting this, the report reveals that revenues from global sales of powdered spirulina will soar at the highest CAGR of 10.4%. Demand for spirulina in the form of tablets & capsules will also gain traction at a comparatively steady pace. Based on the applications, more than 250,000 tons of spirulina will be consumed globally for production of nutraceuticals by the end of 2026. Throughout the forecast period, the demand for spirulina will remain high in production of nutraceuticals, followed by food & beverages.
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