Press release
Spirulina Market Will Amass US$ 1,855.8 Mn by 2026
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%
US-based companies such as Cyanotech Corp., DDW Inc., Sensient Technologies Corp., GNC Holdings, Inc., Now Health Group Inc. are recognized as some of the leading manufacturers of spirulina in the world. Other key players profiled in the report include, GNT Holdings B.V., Fuqing King Dnarmsa Spirulina Co., Ltd., Dongtai City Spirulina Bio-Engineering Co. Ltd., DIC Corporation, and Chr. Hansen A/S.
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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. 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.
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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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About Us
Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.
To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.
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