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Spirulina: The Greatest Super Food On Earth?, leading companies are DIC Corporation, Now Foods, Cyanotech Corporation, EID PARRY (INDIA) LTD, Algaetech Group of Companies, Naturya
Spirulina is not only used as a human source, it is also used as animal feed. Veterinarians prescribe spirulina to aid recovery, increase stamina, relieve stiffness, and also for show animals for general toning. Similarly, spirulina is also used extensively by aquaculture companies to improve the growth rates, increase disease resistance, improve survival rates, reduce medication requirements and improve quality and coloration of various fish and shellfish.
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The global spirulina market will grow at a CAGR of 7.1% from 2017 to 2022 to reach USD 238.3 million by 2022, according to the latest publication from Meticulous Research®. The global spirulina market is driven by the growing demand for natural food colors, increasing vegetarianism, stringent regulations regarding the inclusion of synthetic colors and flavors, and growing malnutrition across the globe. However, low awareness of the benefits of spirulina and challenges associated with the production of spirulina is expected to hinder the growth of the global spirulina market to some extent.
Based on application, food & beverages accounted for the major share of the global spirulina market in 2016, owing to the growing health concerns of aging population in various countries, a growing desire for natural alternatives to traditional pharmaceutical products, and increased awareness among consumers on the link between nutrition and health.
Geographically, this market is segmented into North America (U.S. and Canada), Europe (Germany, France, U.K., Netherlands, Italy, and RoE), Asia Pacific (China, India, Japan, and RoAPAC), Latin America, and Middle East & Africa. North America commanded the largest share in the global spirulina market in 2016, followed by Europe and Asia-Pacific. The large share of this market is mainly attributed growing awareness among consumers for natural food products, rising regulations against synthetic colors, growth of subsidiary industries like cosmetics and bio fertilizers, and increasing preference for plant protein sources.
Top players analysed here are:
DIC Corporation
Cyanotech Corporation
Algaetech Group of Companies
EID PARRY (INDIA) LTD
Algene Biotech
Sunrise Nutrachem Group Co., Ltd
Tianjin Norland Biotech Co., Ltd
Naturya
Guangzhou Endless Biotech Co.
Synergy Natural
Febico (Far East Bio-Tec. Co., Ltd.)
Sanatur Gmbh
Hydrolina Biotech
Fuqing King Dnarmsa Spirulina Co., Ltd
Now Foods
Zelang Group
Wudi Fengtai Aquaculture Co., Ltd
The All Natural Company
TAAU Australia Pty Ltd
Phyco-Biotech.
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About Meticulous Research®
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
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Viren Shrivastava
AVP- Global Sales and Marketing
Meticulous Research®
Email: viren@meticulousresearch.com
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