Global Spirulina Market Expected to Reach US$ 160 million by 2024 - DIC, Cyanotech, Parry Nutraceuticals, Hydrolina Biotech, King Dnarmsa, CBN

Spirulina is a microscopic spiral shaped blue-green vegetable algae which grows in mineral-rich freshwater and saltwater sources. It provides an abundance of protein, vitamins, minerals, trace minerals, essential fatty acids, phytonutrients, and antioxidants.
First, the spirulina industry concentration is high; in the world wide, giant manufacturers mainly distribute in China, India and American. China has a long history and unshakable status in this industry, like DIC, King Dnarmsa, CBN and Green-A, both have perfect products. In China, the manufacturers focus in Yunnan and Shandong province.

Second, as for consumption market, the global market sales were 11336 MT spirulina in 2015, which was much higher than that of 9128 in 2012.

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Third, the sales market mainly focus on the China, USA, India, Japan and Europe etc. region. In 2013, the U.S. Food and Drug Administration approved the use of phycocyanin as a natural colorant in food and beverage products. Since then, demand has risen dramatically, particularly in the Americas and Europe. In 2016, China was the leader consumption region with the sales market share of 45.70%. USA was the second sales market with sales share 22.75% in 2016.

Fourth, the price of spirulina was decreasing from 2012 to 2016, increased since 2017; also the gross margin decreased. It is expect that the price is also decreasing in future. The gross margin is about 12%-17% in 2015, while the global average spirulina price is about 10804 USD/MT in 2017.

Fifth, this industry is affected by the economy and policy, so it's important to put an eye on economic indexes and leaders' prefer. With the global economic recovery, more and more people pay attention to health, especially in developed regions that have a large population and fast economic growth, the need of spirulina will increase.

Sixth, we tend to believe this industry now is close to mature, and the consumption increasing degree will show a smooth curve. On product prices, the slow downward trend in recent years will maintain in the future, as competition intensifies, prices gap between different brands will go narrowing. Similarly, there will be fluctuation in gross margin.

According to this study, over the next five years the Spirulina market will register a 4.5% CAGR in terms of revenue, the global market size will reach US$ 160 million by 2024, from US$ 120 million in 2019. In particular, this report presents the global market share (sales and revenue) of key companies in Spirulina business, shared in Chapter 3.

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The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market.
The key manufacturers covered in this report:

DIC
Cyanotech
Parry Nutraceuticals
Hydrolina Biotech
King Dnarmsa
CBN
Green-A
Spirin
Chenghai Bao ER
Shenliu
SBD
Lanbao
Tianjian
Wuli Lvqi
Gangfa

Table of Contents:

1 Scope of the Report
2 Executive Summary
3 Global Spirulina by Players
4 Spirulina by Regions
5 Americas
6 APAC
7 Europe
8 Middle East & Africa
9 Market Drivers, Challenges and Trends
10 Marketing, Distributors and Customer
11 Global Spirulina Market Forecast
12 Key Players Analysis
13 Research Findings and Conclusion

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This release was published on openPR.