USD 651.35 million
Report ID:
SQMIG35A2776 |
Region:
Global |
Published Date: September, 2024
Pages:
157
|Tables:
92
|Figures:
70
Global Spirulina Market size was valued at USD 651.35 million in 2023 and is poised to grow from USD 700.85 million in 2024 to USD 1259.29 million by 2032, growing at a CAGR of 7.6% during the forecast period (2025-2032).
Rapidly increasing awareness regarding health benefits of spirulina and other types of algae is projected to primarily boost the demand for spirulina going forward. Increasing use of spirulina in the development of functional foods, beverages, nutraceuticals, and dietary supplements will also create new opportunities for spirulina companies in the long run. Surging popularity of veganism and rising demand for plant-based food products around the world is also expected to bolster the consumption of spirulina in the future. Launch of new supportive government initiatives to promote algae production. Evolving consumer preferences, high demand for natural ingredients in products, and rising adoption of sustainable practices are other factors that indirectly benefit the demand for spirulina on a global level. On the contrary, limited awareness in developing countries, risks of contamination, and availability of alternative superfoods are estimated to be the key constraints for spirulina market development in the long run.
Market snapshot - 2025-2032
Global Market Size
USD 651.35 million
Largest Segment
Nutraceuticals
Fastest Growth
Animal Feed
Growth Rate
7.6% CAGR
To get more reports on the above market click here to Buy The Report
Global Spirulina Market is segmented by Product Type, Form, Nature, Source, Application, Distribution Channel, End-user Industry and region. Based on Product Type, the market is segmented into Arthrospira Platensis, Arthrospira Maxima and Others. Based on Form, the market is segmented into Powder, Tablet, Capsule and Others. Based on Nature, the market is segmented into Organic Spirulina and Conventional Spirulina. Based on Source, the market is segmented into Natural Lakes and Artificial Cultivation. Based on Application, the market is segmented into Food & Beverage, Dietary Supplements, Cosmetics & Personal Care, Pharmaceuticals, Animal Feed & Pet Food and Agriculture / Fertilizers. Based on Distribution Channel, the market is segmented into Online Retail, Offline Retail and Direct Sales (B2B). Based on End-user Industry, the market is segmented into Nutraceutical Companies, Food & Beverage Manufacturers, Cosmetics & Personal Care Brands, Pharmaceutical Companies, Animal Feed Producers, Agricultural Companies and Research Institutes. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Spirulina in powder form is projected to account for a dominant share of the global spirulina market. Ease of transportation and use in multiple applications allows the powder form to account for a major chunk of the Spirulina Market share. Easy absorption in the body and more bioavailability of nutrients in powder form are also expected to create new opportunities for spirulina companies looking to maximize their revenue generation from this segment in the future.
On the other hand, the demand for spirulina tablets and capsules is projected to surge at a notable pace over the coming years. Growing consumption of nutraceuticals and dietary supplements around the world is projected to bolster the demand for spirulina in this segment. Rising availability of spirulina tablets and capsules will also help this segment offer new opportunities for spirulina suppliers across the study period and beyond.
Nutraceuticals are projected to spearhead the global demand for spirulina due to high nutrition and the title of superfood given to spirulina. Growing health consciousness among people around the world and rising consumption of nutrition supplements are helping the nutraceutical application segment maintain its dominance. Growing emphasis on preventive healthcare and rising awareness regarding benefits of nutraceutical consumption will also aid the dominance of this segment.
Meanwhile, the demand for spirulina in animal feed applications is projected to increase at a robust pace over the coming years. Growing emphasis on improving animal health and rising investments in development of better animal feeds are also expected to help create new business scope for spirulina companies. Increasing demand for plant-based animal feed and rising use of superfoods in animal feed formulation will also bolster spirulina demand in this segment going forward.
To get detailed analysis on other segments, Request For Free Sample Report
North America is estimated to spearhead the demand for spirulina on a global level. Rising health consciousness and growing nutraceutical consumption in this region make it the top market for spirulina companies. Moreover, growing use of spirulina as a natural coloring agent in multiple industry verticals is also expected to create new business scope for spirulina companies operating in this region. The United States and Canada are expected to create highly rewarding setting for spirulina companies in the long run. Rising popularity of veganism and plant-based food products will also play a crucial role in helping North America remain a dominant Spirulina Market.
The Asia Pacific region is emerging as the fastest-growing market for spirulina companies in the world. Growing awareness regarding superfoods, evolving consumer preferences, and increasing willingness of people to spend on nutraceuticals and dietary supplements are expected to bolster the demand for spirulina. Availability of supportive government initiatives to promote spirulina production will also help provide new opportunities for Spirulina Market players. China, Japan, and India are estimated to be the top markets to keep a close eye on in the Asia Pacific region.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Growing Nutraceutical Consumption
Rising Preference for Plant-based Ingredients
Limited Awareness in Developing Countries
Competition from Other Superfoods
Request Free Customization of this report to help us to meet your business objectives.
Creating affordable spirulina products and increasing awareness regarding the health benefits of spirulina among people around the world will be the top priority for all spirulina companies. Incorporation of spirulina in cosmetics and personal care could also provide lucrative business for Spirulina Market players in the future. Spirulina companies should capitalize on the veganism and plant-based trend to maximize their revenue generation potential in the long run.
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
The global Spirulina market analysis reveals a dynamic marketplace with a number of standout trends and difficulties. The spirulina market is experiencing substantial growth propelled by diverse factors, including its role in addressing hunger during humanitarian crises and military operations. The escalating demand for spirulina-based products in such scenarios fuels the market's expansion, highlighting its significance as a valuable nutritional resource in critical situations. Moreover, the global market is being propelled by the increasing utilization of spirulina as a feed additive, particularly for enhancing animal growth and progression. This shift toward integrating spirulina into animal husbandry and aquaculture practices aligns with an industry-wide trend moving away from chemical-based feed supplements to embrace organic alternatives.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 651.35 million |
Market size value in 2032 | USD 1259.29 million |
Growth Rate | 7.6% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Million |
Segments covered |
|
Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
|
Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Spirulina Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Spirulina Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Spirulina Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Spirulina Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
REQUEST FOR SAMPLE
Spirulina Market size was valued at USD 588.9 Million in 2023 and is poised to grow from USD 651.32 Million in 2024 to USD 1458.37 Million by 2032, growing at a CAGR of 10.6% during the forecast period (2025-2032).
Creating affordable spirulina products and increasing awareness regarding the health benefits of spirulina among people around the world will be the top priority for all spirulina companies. Incorporation of spirulina in cosmetics and personal care could also provide lucrative business for Spirulina Market players in the future. Spirulina companies should capitalize on the veganism and plant-based trend to maximize their revenue generation potential in the long run. 'Cyanotech Corporation ', 'E.I.D. – Parry (India) Limited ', 'BlueBioTech Group ', 'Aliga Microalgae (Denmark) ', 'Roquette Klötze GmbH & Co. KG ', 'ALGALIMENTO SL (Spain) ', 'Sea & Sun Organic GmbH ', 'Algenol Biofuels Inc. ', 'Prolgae Spirulina Supplies Pvt. Ltd. ', 'Dongtai City Spirulina Bio-engineering Co. ', 'Fuqing King Dnarmsa Spirulina Co., Ltd. ', 'Fraken Biochem Co., Ltd'
Rapidly increasing awareness of health and nutrition worldwide is boosting the consumption of nutraceuticals. Antioxidant, anti-inflammatory, and immune-boosting properties of spirulina are making it a key ingredient in many nutraceuticals and dietary supplements to drive Spirulina Market growth.
Organic Spirulina Products: Spirulina companies take their business one step further by using organic spirulina. Increasing awareness and preference for organic products and ingredients will bolster the demand for organic spirulina going forward. Moreover, this trend will also help companies stand out from their competition.
North America is estimated to spearhead the demand for spirulina on a global level. Rising health consciousness and growing nutraceutical consumption in this region make it the top market for spirulina companies. Moreover, growing use of spirulina as a natural coloring agent in multiple industry verticals is also expected to create new business scope for spirulina companies operating in this region. The United States and Canada are expected to create highly rewarding setting for spirulina companies in the long run. Rising popularity of veganism and plant-based food products will also play a crucial role in helping North America remain a dominant Spirulina Market.
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
Feedback From Our Clients
Report ID: SQMIG35A2776
[email protected]
USA +1 351-333-4748