Global Spirulina Market || keyplayers Chr. Hansen Holding A/S, Dongtai City Spirulina Bio-engineering Co., Ltd., Algenol Biofuels Inc.

Spirulina represents a biomass of cyanobacteria that can be consumed by humans and other animals. Arthrospira plantensis and Anthrospira maxima are two main species of spirulina which are being further processed for various applications. Further, Arthrospira is used in dietary supplements and also used as whole food. It is available in tablet, capsule, flakes, powder, and liquid form. Moreover, spirulina is also used as a feed supplement in aquarium, aquaculture, and poultry industries widely.

The global spirulina market is driven by the growing demand for natural food colors produced from spirulina. The natural health benefits of spirulina super food, such as it helps to balance body’s pH, reducing inflammation throughout the body in a safe and chemical-free way. Further, stringent regulations on synthetic colors and flavors is expected to boost the growth of global spirulina market. Moreover, due to the growing malnutrition across the globe, the government is involved in initiatives, to increase the production of spirulina, which will augment the growth of global spirulina market over the forecast period.

Furthermore, increasing usage of spirulina in the cosmetics and pharmaceutical industries is also expected to witnessed a strong market growth in near future. Less awareness of the benefits of spirulina and high cost associated with the production of spirulina is expected to hinder the growth of the global spirulina market to some extent. However, lower stability and poor sustainability of natural colors derived from spirulina as compared to synthetic colors hampers the market growth during the forecast period.

The global spirulina market is segmented by form, application and region. On the basis of form, the global spirulina market is sub-segmented into Powder, Tablet & Capsule, Liquid, and granules. On the basis of application, the spirulina market is divided into Food and Beverage, Nutraceuticals, Feed, Cosmetics &Personal Care, pharmaceuticals.

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On the basis of region, the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to be a leading revenue contributor to the global spirulina market throughout the forecast period. This is attributed to its increasing demand for naturally derived food coloring agents in the region. However, Asia-Pacific is expected to grow at the highest CAGR over the forecast period as it offers lucrative opportunities for the market players due to robust growth of the food processing industry in the region. Further countries such as India and South Africa are promoting the production of spirulina, considering its health benefits, which is further expected to fuel the growth of the target market during the forecast period.

The key players of global spirulina market are- Cyanotech Corporation, DIC Corporation, Chr. Hansen Holding A/S, Dongtai City Spirulina Bio-engineering Co., Ltd., Algenol Biofuels Inc., Prolgae, Sensient Technologies Corporation, Parry Neutraceuticals, DDW Inc., Naturex S.A., and Algatec. Further, to increase the spirulina market demand globally, the manufacturers are focusing to develop and launch new varieties of natural food colors produced from spirulina.

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This release was published on openPR.