Spirulina Market Global Analysis 2020 to 2023 | Industry Demand, Size, Share, Trend, Key Players Review and Fast Forward Research

Market Insight

Spirulina Industry 2020 is all set to acquire a strong CAGR of 8.02% between 2020 and 2023 (analysis period), says the new study by Market Research Future (MRFR). We will provide COVID-19 impact analysis with the report, along with an in-depth review post the coronavirus disease outbreak.

COVID-19 Spirulina Market Analysis

COVID-19 analysis on Spirulina Industry by MRFR says that health and hygiene have become the key focus since the COVID-19 outbreak, leading to higher demand for food products that boost immunity. Even prior to the novel coronavirus pandemic, the food and beverages industry had been phasing out unnatural or artificial colors, in light of the mounting safety concerns along with the soaring demand for natural colors. Spirulina, being a natural food color, has gained favor among various food & beverages manufacturers in recent years. It has garnered even more interest following the onset of SARS-CoV-2, as it is known to boost the production of infection-fighting proteins, antibodies, and various cells that bolster the immunity and ward off any infection.

Top Drivers and Restraints

Spirulina is a biomass of cyanobacteria that is edible for humans and animals. There are primarily two spirulina species that are currently being processed to explore their application range. These are ANTHROSPIRA maxima and ARTHROSPIRA PLANTENSIS. ARTHROSPIRA is extensively deployed in dietary supplements and is available in the form of capsules, tablets, powder, flakes, as well as liquid. Spirulina is also largely utilized as a feed supplement in aquaculture, poultry, and aquarium industries worldwide. Given the extensive it is expected that the market can expand significantly in the years to come.

Segmental Insight

Global Spirulina Industry has been considered for form and application. Form-wise, the major categories are capsule & tablet, powder, gelling agent, and liquid. The powder segment could gain maximum momentum in the global market and is projected to advance at a rate of 8.23% in the next couple of years.

Depending on applications, the spirulina industry caters to food & beverages, nutraceuticals, cosmetic & personal care, pharmaceuticals, and more. Between these, the nutraceutical segment can achieve the fastest growth rate of 8.34% between 2020 and 2023.

Regional Study

The study of Spirulina Industry has considered Asia Pacific or APAC, Europe, North America, along with RoW or Rest of the world as the primary regions across the world.

Rest of the World or RoW can procure a moderate advancement rate of 7.54% between 2020 and 2023, as a result of the mounting health concerns and the surging preference for natural pharmaceutical products.

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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.

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This release was published on openPR.