Spirulina is a type of blue-green algae that contains several nutrients, including B vitamins, beta-carotene, and vitamin E. Spirulina also contains antioxidants, minerals, chlorophyll, and phycocyanobilin and is commonly used as a source of vegan protein. In addition, Spirulina processing products are employed in agriculture, the food industry, pharmaceutics, perfumery, and medicine. Spirulina is available in tablet and capsule, flakes, powder, and liquid form. Further, spirulina is also used as a feed supplement in the aquarium, aquaculture, and poultry industries extensively. All these key aspects are highly beneficial for the growth of the global Spirulina market.
Moreover, increased application of spirulina in cosmetics, growing demand for natural ingredient and R&D investments in commercial spirulina products are some key aspects majorly contribute towards the growth of the Spirulina market during the forecast period. Additionally, the promotion of the production of spirulina by the government further boosts the growth of the Spirulina market steadily.
On the downside, the impact on spirulina production due to climate change hampers the growth of the market. Besides this, untapped markets in the developing countries and ease of spirulina cultivation due to technology development are the factors anticipated to escalate the market’s growth throughout the forecast period.
Covid-19 Impact on Spirulina Market
A pandemic such as COVID-19 has not only affected the smooth operations of food supply chains but also resulted in food insecurity conditions in several nations. Manufacturers working in the sector are facing challenges in regards to operations, supply chain, training, safety, emergency responses, awareness, incident management, recreating business models, digitalization, and other unanticipated impacts. Alcohol, a major component in the beverage industry is facing a devastating effect of a pandemic. Around 13% to 15% of the craft beer sector in the world is in the process of shutting up shop, and the wine industry is in severe distress. Besides, shortage of raw materials caused to shut down of many small to medium food processing companies around the world
Spirulina Market Segment Overview
According to Product, the Arthrospira Platensis segment has a significant share in the global Spirulina market in 2019 and is predicted to maintain its position during the forecast period. This is primarily attributed to different factors such as growing healthcare awareness and incorporation of spirulina in diets as a superfood worldwide.
Based on the Application, the Nutraceuticals segment accounted for the large market share in 2019. This is mainly because of increasing concern regarding nutrition and health and growing preference for natural alternatives to traditional pharmaceutical products. Furthermore, Spirulina is also widely used in the food & beverage industries as it has a high content of natural pigments that impart blue color and is combined with other colors to obtain new customized colors such as lavender, violet, and green.
Spirulina Market, By Type
· Arthrospira Platensis
· Arthrospira Maxima
Spirulina Market, By Application
· Nutraceuticals
· Food & Beverages
· Cosmetics
· Animal Feed
· Others
Spirulina Market, By Formulation
· Powder
· Tablet & Capsule
· Liquid
· Granule & Gelling Agent
Spirulina Market Regional Overview
Geographically, North America commanded a major share of the global Spirulina market and is predictable to maintain its supremacy over the forecast period. The substantial growth of this region is mainly attributed to the well-developed healthcare industry, the presence of leading manufacturers in the region, the high adoption rate of spirulina, and the growing demand for naturally derived food coloring agents in the region. Likewise, Asia-Pacific is anticipated to experience the highest growth rate during the forecast period, as it provides profitable opportunities for the market players owing to the significant growth of the food processing industry in the region.
Spirulina Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Spirulina Market Competitor overview
Some key developments and strategies adopted by manufacturers in Spirulina are highlighted below.
· In August 2021, Prolgae Spirulina Supplies Pvt. Ltd.-one of India's largest manufacturers of sun-dried organic spirulina has come with an amazing product first time ever in namma Chennai. Prolgae launched its sweet Spirulina powder and Spirulina protein bar all-in-one superfood products in India. Speciality of the product is that it is 100% vegan product to help people to stay healthy and to add up the immunity to their regular routine, as it 5 gms of Spirulina is said to be equal to 5 kg of assorted fresh vegetables.
· In August 2021, Algenist has launched the Blue Algae Vitamin C Skinclarity Brightening Serum, featuring its Blue Algae Vitamin C, an L-ascorbic acid made from regenerative spirulina blue-green algae. The brand said that traditional vitamin C serums can cause sensitivity and blotchiness on melanin-rich skin, and its naturally-derived vitamin C from blue spirulina outperforms other commonly used forms.
Spirulina Market, Key Players
· Cyanotech Corporation
· DIC Corporation
· Cabassi & Giuriati SpA
· DÖHLER GmbH
· Dongtai City Spirulina Bio-engineering Co., Ltd.
· E.I.D. Parry Limited
· Givaudan international SA
· Prolgae Spirulina Supplies Pvt. Ltd.
· Algenol Biofuels Inc.
· Pond Technologies Inc
· Sensient Technologies Corporation
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Spirulina Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Type
- 5.2.1. Arthrospira Platensis
- 5.2.2. Arthrospira Maxima
- 5.3. Market Analysis, Insights and Forecast – By Application
- 5.3.1. Nutraceuticals
- 5.3.2. Food & Beverages
- 5.3.3. Cosmetics
- 5.3.4. Animal Feed
- 5.3.5. Others
- 5.4. Market Analysis, Insights and Forecast – By Formulation
- 5.4.1. Powder
- 5.4.2. Tablet & Capsule
- 5.4.3. Liquid
- 5.4.4. Granule & Gelling Agent
- 5.5. Market Analysis, Insights and Forecast – By Region
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia Pacific
- 5.5.4. Latin America, Middle East and Africa
6. North America Spirulina Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Type
- 6.2.1. Arthrospira Platensis
- 6.2.2. Arthrospira Maxima
- 6.3. Market Analysis, Insights and Forecast – By Application
- 6.3.1. Nutraceuticals
- 6.3.2. Food & Beverages
- 6.3.3. Cosmetics
- 6.3.4. Animal Feed
- 6.3.5. Others
- 6.4. Market Analysis, Insights and Forecast – By Formulation
- 6.4.1. Powder
- 6.4.2. Tablet & Capsule
- 6.4.3. Liquid
- 6.4.4. Granule & Gelling Agent
- 6.5. Market Analysis, Insights and Forecast – By Country
- 6.5.1. U.S.
- 6.5.2. Canada
7. Europe Spirulina Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Type
- 7.2.1. Arthrospira Platensis
- 7.2.2. Arthrospira Maxima
- 7.3. Market Analysis, Insights and Forecast – By Application
- 7.3.1. Nutraceuticals
- 7.3.2. Food & Beverages
- 7.3.3. Cosmetics
- 7.3.4. Animal Feed
- 7.3.5. Others
- 7.4. Market Analysis, Insights and Forecast – By Formulation
- 7.4.1. Powder
- 7.4.2. Tablet & Capsule
- 7.4.3. Liquid
- 7.4.4. Granule & Gelling Agent
- 7.5. Market Analysis, Insights and Forecast – By Country
- 7.5.1. UK
- 7.5.2. Germany
- 7.5.3. France
- 7.5.4. Italy
- 7.5.5. Spain
- 7.5.6. Russia
- 7.5.7. Rest of Europe
8. Asia Pacific Spirulina Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Type
- 8.2.1. Arthrospira Platensis
- 8.2.2. Arthrospira Maxima
- 8.3. Market Analysis, Insights and Forecast – By Application
- 8.3.1. Nutraceuticals
- 8.3.2. Food & Beverages
- 8.3.3. Cosmetics
- 8.3.4. Animal Feed
- 8.3.5. Others
- 8.4. Market Analysis, Insights and Forecast – By Formulation
- 8.4.1. Powder
- 8.4.2. Tablet & Capsule
- 8.4.3. Liquid
- 8.4.4. Granule & Gelling Agent
- 8.5. Market Analysis, Insights and Forecast – By Country
- 8.5.1. China
- 8.5.2. India
- 8.5.3. Japan
- 8.5.4. Australia
- 8.5.5. South East Asia
- 8.5.6. Rest of Asia Pacific
9. Latin America, Middle East and Africa Spirulina Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Type
- 9.2.1. Arthrospira Platensis
- 9.2.2. Arthrospira Maxima
- 9.3. Market Analysis, Insights and Forecast – By Application
- 9.3.1. Nutraceuticals
- 9.3.2. Food & Beverages
- 9.3.3. Cosmetics
- 9.3.4. Animal Feed
- 9.3.5. Others
- 9.4. Market Analysis, Insights and Forecast – By Formulation
- 9.4.1. Powder
- 9.4.2. Tablet & Capsule
- 9.4.3. Liquid
- 9.4.4. Granule & Gelling Agent
- 9.5. Market Analysis, Insights and Forecast – By Country
- 9.5.1. Brazil
- 9.5.2. Saudi Arabia
- 9.5.3. UAE
- 9.5.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2018
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. Cyanotech Corporation
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. DIC Corporation
- 10.6. Cabassi & Giuriati SpA
- 10.7. DÖHLER GmbH
- 10.8. Dongtai City Spirulina Bio-engineering Co., Ltd.
- 10.9. E.I.D. Parry Limited
- 10.10. Givaudan international SA
- 10.11. Prolgae Spirulina Supplies Pvt. Ltd.
- 10.12. Algenol Biofuels Inc.
- 10.13. Pond Technologies Inc
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
