Press release
The Spirulina Market to deploy innovation in the next 10 years
Spirulina Market
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According to Persistence Market Research,
• Over 128,000 tons of spirulina was globally consumed in 2016, revenues from which touched US$ 718.7 Mn
• Increasing applications of spirulina as a core ingredient in production of food & beverages, animal feed and nutraceuticals will continue instrumenting the growth of global spirulina market
• By the end of 2026, the global spirulina market will have soared at 10% CAGR to reach US$ 1,855.8 Mn value
• Through 2026, the global spirulina consumption will account for sales of more than 321,000 tons, exhibiting an impressive CAGR of 9.6%
Growing awareness about nutritional benefits of spirulina serves as a key driver for the market's growth. Scientifically proven, spirulina contains the highest amount of proteins found in any naturally-cultivated food ingredient in the world. In the years to come, spirulina will continue to be in great demand across several regions in the world.
Key Players :
• Chr. Hansen A/S
• Cyanotech Corp.
• DDW Inc.
• DIC Corporation
• Dongtai City Spirulina Bio-Engineering Co., Ltd.
• Fuqing King Dnarmsa Spirulina Co., Ltd.
• GNC Holdings, Inc.
• GNT Holding B.V.
• Now Health Group Inc.
• Sensient Technologies Corp.
• Others
The report reveals that regulatory bodies from around the globe are approving the use of spirulina in production of new food items & beverages. Leading foodmaker The Mars Inc.'s petition for approval of spirulina as a key ingredient in production of new products was conceded by the FDA, garnering attention of other prominent manufacturers of food & beverage products.
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Furthermore, commercial-scale production of spirulina has also become more feasible due to advent to technological advancements. Cost-effectiveness of such production procedures are guaranteeing higher profit margins for spirulina manufacturers, effectuating a significant rise in entry of new players in the market.
In 2016, sales of nearly 90 thousand tons of spirulina powder was recorded across the globe. Highlighting this, the report reveals that revenues from global sales of powdered spirulina will soar at the highest CAGR of 10.4%. Demand for spirulina in the form of tablets & capsules will also gain traction at a comparatively steady pace.
Based on the applications, more than 250,000 tons of spirulina will be consumed globally for production of nutraceuticals by the end of 2026. Throughout the forecast period, the demand for spirulina will remain high in production of nutraceuticals, followed by food & beverages.
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The Food & Beverage team at Persistence Market Research provides all the necessary insights and consulting analysis to fulfil the unique business intelligence needs of clients worldwide. With a catalogue of more than 500 reports pertaining to the latest statistics and analysis from the food & beverage industry, the team is happy to help with every business intelligence research and consulting requirement.
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