Spirulina Market Expected To Enable the Stakeholders for Market Opportunities
The Spirulina market is expected to reach $775 million by 2026, an average annual growth of 10.5% from 2019 to 2026. The functional food sector accounted for more than half of the total market share in 2018.
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Spirulina markets around the world have grown significantly in the past few years. Spirulina Super Food's growing awareness of consumers' health benefits and the variety of natural colors produced by Spirulina contribute to market growth. In addition, national governments such as India and South Africa are encouraging spirulina production with health benefits in mind, which is expected to accelerate the growth of the spirulina market during the forecast period. However, compared to synthetic colors and strict government regulations, the stability and low sustainability of natural colors derived from Spirulina is expected to hinder market growth during the forecast period. Conversely, undeveloped markets in developing countries are expected to provide reward opportunities to market participants in the near future.
Among the various applications in which spirulina can be used, the functional food sector occupies a significant market share and is estimated to lead the entire market in the next few years. This is due to increased nutritional and health concerns and increased preference for natural alternatives to traditional medicines. Spirulina is also used primarily in the food and beverage sector, because it has a high content of natural pigments that impart blue and combines with other colors to obtain new customized colors such as lavender, violet and green. Spirulina also finds major applications in the cosmetics and personal care industry. It is used in cosmetics and personal care products, especially for anti-aging creams.
North America is expected to dominate during the forecast period due to the well-developed healthcare industry, the presence of major manufacturers in the region, the high adoption rate of spirulina, and the growing demand for natural-derived food colorants in the region. However, the Asia-Pacific region is expected to experience the highest growth rates during the forecast period, as the significant growth in the food processing industry offers market participants a favorable opportunity.
This report provides a comprehensive analysis of key players in the Spirulina market worldwide, including Advanced Spirulina, Inc., CAS Medical Systems, Inc., Compumedics Ltd., General Electric Company (GE Healthcare) and Koninklijke Philips NV (Philips Healthcare). provide. ), Medtronic Plc., Natus Medical Incorporated, Neural Analytics, Inc. And Siemens AG.
Other companies in the value chain include GNC Holdings, Inc., Now Health Group Inc, Fuqing King Dnarmsa Spirulina Co., and Fraken Biochem Co., Ltd. And Far East Bio-Tec Co. Ltd. Etc.
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The main results of the Spirulina market:
• Depending on type, Arthrospira Maxima segment is expected to experience rapid growth in the market and is expected to grow from 2019 to 2026.
• Depending on the application, the Nutraceuticals sector has the highest share in 2018, and this trend is expected to continue during the forecast period.
• According to the drug formulation, the powder sector was the main source of income in 2018, and this trend is expected to continue during the forecast period.
• In 2018, the U.S. had the highest revenue in the world spirulina market and accounted for more than a quarter of the world market in 2018.
• The Asia Pacific region is expected to grow to the highest CAGR during the forecast period.
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