Press release
Spirulina Market Revenue Surges: 2024 - 2031 | Cyanotech Corporation, Sensient Technologies Corporation
Spirulina Market
The global spirulina market is estimated to be valued at USD 484.7 Mn in 2024 and is expected to reach USD 808.4 Mn by 2031, growing at a compound annual growth rate (CAGR) of 7.6% from 2024 to 2031.
Market Dynamics:
The spirulina market is expected to witness significant growth over the forecast period owing to increasing awareness about its health benefits. Spirulina is high in iron, protein and various other vitamins and minerals. It helps boost immunity, lower cholesterol levels and blood pressure. Spirulina also exhibits anti-inflammatory and antioxidant properties. Additionally, growing demand for plant-based proteins and natural alternatives is also expected to support the market growth. Population growth and rising income levels in developing economies is also contributing towards increasing demand for nutritive supplements like spirulina.
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Growing Demand for Natural Food Coloring and Growth of Vegan Population
The global food industry has seen increasing demand for natural food colorings instead of synthetic dyes in recent years owing to rising health consciousness among consumers. Spirulina contains natural blue and green pigments phycocyanins and chlorophyll that can be used as colorants in several food products like yogurt, desserts and beverages. The vegan population has also grown substantially creating higher demand for plant-based foods and ingredients. Spirulina being a microalgae fits well in vegan diets and products. Its usage has increased in vegan proteins, snacks and other substitutes.
Opportunities in Nutraceuticals and Pharmaceuticals
Ongoing research is exploring new therapeutic applications of spirulina's active components like C-phycocyanin. This offers opportunities to develop innovative nutraceuticals and pharmaceutical products leveraging its antioxidant, anti-inflammatory and immune-modulating properties. Potential areas include dietary supplements for specific health conditions, functional foods for elderly population and infant nutrition products. Collaboration with medical research institutes can accelerate commercialization of such application-based innovations.
Growing Popularity in Developing Markets
While North America and Europe currently dominate the spirulina marketplace, consumption in developing Asian, African and Latin American countries is projected to increase at a higher rate in the coming years. Rising living standards, exposure to superfood trends through social media and focus on preventive healthcare will drive spirulina demand in populous developing markets. Agribusinesses are investing in local production facilities to cater to these emerging superfood hubs and benefit from lower input and labor costs. This presents new revenue avenues for spirulina industry players.
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Top Companies Featured in This Report:
★ Cyanotech Corporation
★ Sensient Technologies Corporation
★ NB Laboratories Pvt Ltd
★ DIC Corporation
★ Fuqing King Dnarmsa Spirulina Co. Ltd
★ Evergreen Agro Creations
★ Indian Agri Farm
★ Alpspure Lifesciences Pvt. Ltd.
★ Ideal Natural Extract
★ Lifevision Healthcare
★ Grenera Nutrients Private Limited
★ Far East Bio-Tec Co., Ltd.,
Market Segmentation:
By Product Type:
★ By Form: Powder , Tablet/Capsules , Liquid , and Granules
★ By Composition: Protein , Carbohydrates , Minerals , Lipids , and Others
★ End Use Industry: Food & Beverages (Meat & Poultry, Bakery, Confectionary), Nutraceuticals , Cosmetics and Personal Care , Feed , Pharmaceuticals , and Others
Key Regions/Countries Classified as Follows:
» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
Key Insights from the Global Spirulina Market Analysis:
Market Size Evaluation: Assessing the value and sales volume of the Spirulina market spanning from 2024 to 2031.
Market Trends and Dynamics: Analyzing the drivers, opportunities, challenges, and risks influencing the Spirulina market.
Macro-economic and Regional Impacts: Exploring how global inflation and geopolitical events affect the Spirulina market.
Segment Analysis: Examining the market value and sales volume of Spirulina by type and application from 2024 to 2031.
Regional Market Overview: Assessing the current situations and future prospects of the Spirulina market in different regions.
Country-level Studies: Providing insights into revenue and sales volume for major countries within each region.
The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.
In summary, whether you're engaged in manufacturing, distribution, or investment within the Spirulina sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.
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Author Bio:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
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