Spirulina Market Research provides a comprehensive analysis of the business models of prominent major players, forecasting the future to 2027

Market overview

By 2027 the spirulina market is estimated to rise at a CAGR of 10.32%, with a market value of USD 1007.24 million. Spirulina is a multicellular alga that is similar to blue-green filamentous microalgae. Spirulina is also used more often as a source of micronutrients and protein for fish. The spirulina is extremely nutritional and eco-friendly and has hypoglycaemic, hypolipidemic, and antihypertensive properties. Spirulina comprises active components like phycocyanin, phenolics, and polysaccharides, which have anti-inflammatory, antioxidant, and immunostimulant effects. It is utilized as a nutritional supplement to feed the animals such as chickens and hens in several mushrooming economies. The utilization of spirulina in food has brought advantages to humans' health due to its chemical composition since it has a very high level of vitamins, phenolics, minerals, essential amino acids, fatty acids, and pigments. Therefore, spirulina plays a very vital role in this scenario. 

The rise in demand for organic compounds and investment in research and development of commercial spirulina goods are the main factors that operate the market's development. In addition, the promotion of spirulina production by the government increases the market growth. However, the effect on spirulina creation owing to climatic change hinders the market growth. But, untouched markets in emerging countries and effortlessness in spirulina farming due to technological development are some of the main factors anticipated to promote market growth during the prediction period. 

The pandemic COVID-19 has elevated the growth of the spirulina market. This market increased because it was used as the requirement of nutritional attention and vitamins as a possible medicine against the COVID-19 virus. Therefore, researchers have drawn attention to the possible role of algae in postponing the commencement of COVID-19. 

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What are the key players in the spirulina market?

Key players in the spirulina market include I.D. Parry Limited (India), Jiangxi Alga Biotech, DIC Corporation, Tianjin Norland Biotech Co. Ltd., Cyanotech Corporation, Hydrolina Biotech Private Limited, DIC Corporation, among others.

Market segmentation

By Type

Arthrosporic Platensis
Arthrosporic Maxima
By Application

Nutraceuticals
Food & Beverages
Cosmetics
Animal Feed
Others
By Formulation

Powder
Tablet & Capsule
Liquid
Granule & Gelling Agent
By Region

North America 
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
Rest of Asia-Pacific
LAMA
Brazil
South Africa
Rest of LAMEA
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Regional analysis

Until the end of the estimated period in 2027 globally, the spirulina market demand is anticipated to have the maximum ranking in the North American market. The foremost reason behind this estimated growth is the high demand for naturally resulting agents or food coloring. The trend is that the APAC region is anticipated to have the maximum CAGR progress due to the profitable development opportunities it has to provide to the important market players fitting to the food processing industry. Spirulina powder has a great demand among vegetarian customers, which is one more feature predicted to aid the market to grow by the end of the estimation period. 

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Industrial news

In 2022, SimpliiGood, an Israeli company, broadcasted the effective prototype of a burnt salmon mimic formed completely of spirulina algae. According to this, it says that this is the first of its kind. Beverages, meat substitutes, and ice cream are amongst the company's current offerings.

Read More Blogs:

Nutraceuticals Market: https://www.marketresearchfuture.com/reports/nutraceuticals-market-2181

Cosmetics & Personal Care Ingredients Market: https://www.marketresearchfuture.com/reports/cosmetics-personal-care-ingredients-market-3889

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.