New applications of Spirulina will create a robust demand for Spirulina in the coming years

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

The global spirulina market is expected to register a CAGR of 10% during the forecast period, and is estimated to be valued at nearly US$ 2,000 Mn by 2026, from more than US$ 700 Mn in 2016 owing to factors such as increased application of spirulina in cosmetics. Moreover, the EU government regulations have become stringent and have banned the usage of synthetic food colors in the food industry, which is expected to boost the sales of spirulina based natural food colors in the region during the forecast period.

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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. Persistence Market Research’s report, titled “Spirulina Market: Global Industry Analysis and Forecast, 2016-2026,” projects that North America will be the world’s largest market for spirulina. Through 2026, North America’s spirulina market will be valued over US$ 570 Mn, exhibiting highest value CAGR of 11.5%. While Western Europe and the Asia-Pacific excluding Japan region will also witness lucrative growth in their spirulina markets, the Middle East and Africa region is projected to showcase a positive +84 BPS gain.

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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