Global Spirulina Market Size To Worth USD 932.78 Million By 2033 | CAGR of 9.85%
Category: Food & BeveragesGlobal Spirulina Market Size To Worth USD 932.78 Million By 2033
According to a research report published by Spherical Insights & Consulting, the Global Spirulina Market Size is to Grow from USD 364.58 Million in 2023 to USD 932.78 Million by 2033, at a Compound Annual Growth Rate (CAGR) of 9.85% during the projected period.
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Browse key industry insights spread across 210 pages with 115 Market data tables and figures & charts from the Report on the "Global Spirulina Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Tablets and Capsules, Flakes, and Phycocyanin), By Application (Nutraceuticals, Food & Beverage, and Animal Feed), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/spirulina-market
Spirulina, a multicellular and filamentous blue-green alga from the cyanophycean family, has acquired broad acceptance in a variety of industries, including healthy foods, pharmaceuticals, aquatic enhancement, and others. It stands out as an excellent source of nutrients and is even used in spacecraft as a calorie-dense capsule. The increasing need for spirulina is fueled by its exceptional nutritional content, which includes high levels of vitamins, proteins, and critical minerals. Its historical consumption includes both raw and processed meals and capsules, a practice that continues in various nations. It strengthens immunological function, improves intestinal health, increases energy, lowers cholesterol, and aids weight loss. It is also used in skincare products due to its anti-inflammatory qualities. The increased incidence of chronic diseases, a growing global population, and people's changing habits have all contributed to a significant increase in the consumption of nutritious foods and supplements around the world.
The tablet and capsule category are likely to lead the market throughout the forecast period.
Based on the product type, the global spirulina market is divided into tablets and capsules, flakes, and phycocyanin. Among these, the tablet and capsule category are likely to lead the market throughout the forecast period. The tablet and capsule category are a well-established participant in the spirulina industry, offering a simple and easy-to-consume way to incorporate spirulina into daily meals. Spirulina supplements are commonly given in the form of pills and capsules, which appeal to clients' preferences for convenient and precise dosage ingestion. The increased demand for health supplements among health-conscious consumers who are discovering the benefits of spirulina's high nutritional content is viewed as a key development driver.
The nutraceuticals segment is expected to have the highest market share over the forecast period.
Based on the application, the global spirulina market is divided into nutraceuticals, food & beverage, and animal feed. Among these, the nutraceuticals segment is expected to have the highest market share over the forecast period. Increasing consumer awareness of spirulina's health advantages is likely to drive significant growth in the nutraceutical market. Spirulina is high in protein, vitamins, and antioxidants, which provide various health benefits including immunological support, anti-inflammatory properties, and the capacity to lower triglycerides. As people become more conscious of their health and seek natural supplements, spirulina's reputation as a sustainable and nutrient-dense superfood develops. The increased prevalence of lifestyle-related health issues has prompted people to add spirulina to their regular meals as a preventive precaution.
North America is expected to have the greatest share of the global spirulina market during the forecast period.
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The spirulina market in North America is expected to expand more as consumers become more health-conscious. Consumers are actively seeking organic ways to improve their well-being. Its status as a superfood rich in protein, vitamins, and antioxidants attracts health-conscious consumers. As people look for natural ingredients in their cuisine, spirulina's usefulness as a natural coloring agent in beverages, confections, and baked products offers fresh possibilities. The region's advanced healthcare industry, the presence of prominent suppliers, the substantial amount of spirulina consumption, and the growing need for organic coloring agents. These are some of the factors responsible for the growth of the market.
Asia-Pacific is predicted to have fastest CAGR in the global spirulina market throughout the forecast period. The predicted supremacy stems from these countries' vast production of this algae. Moreover, the region's fast increasing sector benefits from a new trend: the incorporation of this algae species into nutraceuticals, particularly non-dairy products enhance the growth of the market.
Major vendors in the spirulina market include Sensient Technologies Corporation, Givaudan International SA, E.I.D. Parry Limited, Echlorial, Algenol Biofuels Inc., 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., and Others.
Recent Developments
- In September 2023, The American Public University System announced that the Spirulina Algae Group, which is part of the University's Supernova Search Group, has received NASA research money to examine the use of spirulina to produce plants in space settings.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global spirulina market based on the below-mentioned segments:
Global Spirulina Market, By Product Type
- Tablets and Capsules
- Flakes
- Phycocyanin
Global Spirulina Market, By Application
- Nutraceuticals
- Food & Beverage
- Animal Feed
Global Spirulina Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
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