Spirulina Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

Spirulina is among the most popular supplements across the globe. Spirulina is an organism that grows in fresh and salty water both. It contains many nutrients and antioxidants that could be beneficial for the body. It also comprises of some amounts of potassium, magnesium, and manganese and little amount of every other nutrient needed for body. It also helps in increasing the immune system of human body.

MARKET SCOPE

The "Spirulina market to 2031" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of spirulina market with detailed market segmentation by of application, form, distribution channel. The spirulina market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading players in spirulina market and offers key trends and opportunities in the market.

MARKET SEGMENTATION

• On the basis of application, the market is segmented into Nutraceuticals, Cosmetic and Personal Care, Pharmaceuticals, Others.
• On the basis of form, the market is segmented into Powder, Capsule and Tablet, Liquid, Gelling Agent.
• On the basis of distribution channel, the market is segmented into Retail stores, Hospital and Retail Pharmacies, Online Distributions.

MARKET DYNAMICS
Drivers:

• Rising demand for natural colors
• Growing malnutrition in the world
• Increased application of spirulina in cosmetics and personal care
• Awareness related to malnutrition and others

Restraints:

• Impact on spirulina production due to climate change hampers the growth of the market.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the spirulina market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The spirulina market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.

The report analyzes factors affecting spirulina market from both demand and supply side and further evaluates market dynamics affecting the market during forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors affecting the spirulina market in these regions.

IMPACT OF COVID-19 ON SPIRULINA MARKET

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. The global impacts of the COVID-19 are already starting to be felt, and will significantly affect the spirulina market in 2021.Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.

Spirulina Market Report Analysis

Spirulina Market

• 
  CAGR (2023 - 2031)

  XX%
• Market Size 2023
  US$ XX Million
• Market Size 2031
  US$ XX Million

Report Coverage

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope

• Key future trends
• Detailed PEST/Porter’s Five Forces and SWOT analysis

• Industry landscape and competition analysis & recent developments
• Detailed company profiles

• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments

Key Players

• Cyanotech Corporation
• Algenol Biofuels Inc
• Dongtai City Spirulina Bio-engineering Co., Ltd.
• Chr. Hansen Holding A/S
• DIC Lifetec Co., Ltd.
• Sensient Technologies Corporation.
• DDW The Colour House
• Naturex S.A.
• Prolgae Spirulina Supplies Pvt. Ltd

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

By Application

• Nutraceuticals
• Cosmetic and Personal Care
• Pharmaceuticals

By Form

• Powder
• Capsule and Tablet
• Liquid
• Gelling Agent

By Distribution channel

• Retail stores
• Hospital and Retail Pharmacies
• Online Distributions

MARKET PLAYERS

The report covers key developments in the spirulina market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from spirulina market are anticipated to have lucrative growth opportunities in the future with the rising demand for spirulina market in the global market. Below mentioned is the list of few companies engaged in the spirulina market.

The report also includes the profiles of key players in spirulina market along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered financial information of last 3 years, key development in past five years.

•  Cyanotech Corporation
•  Algenol Biofuels Inc
•  Dongtai City Spirulina Bio-engineering Co., Ltd.
•  Chr. Hansen Holding A/S
•  DIC Lifetec Co., Ltd.
•  Sensient Technologies Corporation.
•  DDW The Colour House
•  Naturex S.A.
•  Prolgae Spirulina Supplies Pvt. Ltd
•  E.I.D. Parry (India) Limited

The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.

Spirulina Market Report Scope