Global Spirulina Market

Global Spirulina Market Size, Share, Growth Analysis, By Type(Arthrospira Platensis, Arthrospira Maxima), By Application(Nutraceuticals, Food & Beverages), By Drug Formulation(Powder, Tablet & Capsule) - Industry Forecast 2024-2031


Report ID: SQMIG35A2776 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 92 | Figures: 70

Global Spirulina Market News

  • In February 2024, The National Organization for Medicines (EOF), Greece, has banned the distribution and sale of an imported dietary supplement containing spirulina, citing excessive levels of polycyclic aromatic hydrocarbons (PAHs) exceeding legal limits. The decision affects the product “VITAMIR SPIROULINA 500mg” imported from German company OLYMP HANDELS GmbH.

     

  • In September 2023, American Public University System (APUS) has announced that the Spirulina Algae Group, part of the University's Supernova Search Group, has received a NASA research grant to study the use of spirulina, for growing plants in space environments.

     

  • In August 2023, the state government of Haryana, an Indian state, has  said that it would introduce a spirulina-based product to combat malnutrition in children with a six-month pilot project planned in Nuh district. A study conducted by the Institute of Health Management and Research (IHMR), Bengaluru, demonstrated a reduction in malnutrition by administering spirulina to children for six months.

$5,300
BUY NOW GET FREE SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Global Spirulina Market size was valued at USD 532.49 Million in 2022 and is poised to grow from USD 588.9 Million in 2023 to USD 1318.6 Million by 2031, growing at a CAGR of 10.6% in the forecast period (2024-2031).

The competitive environment of the global Spirulina Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Leading brands invest in research and development to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. They often set the trends in the industry. 'Cyanotech Corporation', 'DOHLER GmbH', 'DIC Corporation', 'Dongtai City Spirulina Bio-engineering Co., Ltd.', 'Cabassi & Giuriati SpA', 'DDW', 'Pond Technologies Inc', 'Prolgae Spirulina Supplies Pvt. Ltd.', 'Dongtai City Spirulina Bio-engineering Co., Ltd.', 'Sensient Technologies Corporation', 'Givaudan international SA', 'E.I.D. Parry Limited', 'Echlorial', 'Algenol Biofuels Inc.'

The spirulina market's evolution is intricately influenced by the advancements in food formulation technologies, spearheaded by both research institutions and private enterprises. The introduction of spirulina into the realm of the food industry has sparked a wave of innovation, offering numerous pathways for creative development within this market. Recognizing these opportunities, major industry players are strategically investing in research and development endeavors.

Consumer health awareness and mounting apprehensions regarding the adverse effects of artificial food colorings have spurred a surge in the demand for plant-based food products. This shift towards healthier options aligns with the rising trend of clean labeling and the escalating popularity of minimally processed foods. Spirulina, recognized for its natural properties, has emerged as a pivotal ingredient in this movement, particularly as a natural food colorant.

North America earned the largest market share of 51% in 2022, outpacing Europe and Asia Pacific. This is expected to continue during the forecast period as well, attributed to the escalating demand within the region for organically derived food coloring agents.

Request Free Customization

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.

logo-images

Feedback From Our Clients

Global Spirulina Market

Product ID: SQMIG35A2776

$5,300
BUY NOW GET FREE SAMPLE