Global Spirulina Market Insights Forecasts to 2033

• The Global Spirulina Market Size was Valued at USD 364.58 Million in 2023
• The Market Size is Growing at a CAGR of 9.85 % from 2023 to 2033
• The Worldwide Spirulina Market Size is Expected to Reach USD 932.78 Million by 2033
• Asia Pacific is expected to Grow the fastest during the forecast period.

The Global Spirulina Market Size is Anticipated to Exceed USD 932.78 Million by 2033, Growing at a CAGR of 9.85 % from 2023 to 2033.

Market Overview

Spirulina is a nutritious blue-green algae that is commonly used as a dietary additive. It is rich in protein, vitamins, and minerals and is recognized for its antioxidant, anti-inflammatory, and immune-enhancing properties. It promotes immune function, enhances intestinal health, boosts energy, decreases cholesterol, and can help in weight loss. It is also utilized in skincare products because of its anti-inflammatory properties. The rising incidence of chronic diseases, a growing worldwide population, and people's shifting habits have all contributed to a substantial rise in the use of nutritious foods and supplements all around the world. This is one of the most significant factors of market growth. Besides that, spirulina is frequently used to remove contaminants such as heavy metals and xenobiotics from wastewater. In addition, green spirulina is abundant, durable, and inexpensive, it is frequently utilized in biologic medications around the world. It is also utilized in vitamins, nutraceuticals, and other nutrients for the treatment of diabetes, multiple sclerosis, and cancer disorder. The corporation, in collaboration with M/s. the AMM Murugappa Chettiar Research Centre in Chennai, constructed a pilot plant to develop a technology for producing spirulina algae, the only natural source of the most protein known to mankind.    

Report Coverage

This research report categorizes the market for the global spirulina market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global spirulina market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global spirulina market.

Driving Factors

Growing global population and shifting lifestyles. This is one of the primary causes of market expansion. Besides that, spirulina is frequently used in the elimination of chemical substances from wastewater, including vitamins, heavy metals, and xenobiotics. Moreover, they are widely used in the cosmetics and healthcare industries around the world since they help to detoxify, clean, and improve skin texture. Green spirulina is widely used in biological treatments around the world because of its availability, durability, and inexpensive cost. Growing demand for blue-green algae due to their aid in weight loss, as well as an increasing number of health clubs and fitness centers, are projected to fuel the growth of the market.

Restraining Factors

Rising manufacturing costs, combined with the environmental impact of spirulina, can continue to constrain market growth. Furthermore, various countries' tight legislation and quality requirements add to the compliance burden.

Market Segmentation

The global spirulina market share is classified into product type and application.

• The tablet and capsule segment are expected to dominate the market over the forecast period.

Based on product type, the global spirulina market is classified into tablets and capsules, flakes, and phycocyanin. Among these, the tablet and capsule segment are expected to dominate the market over the forecast period. The tablet and capsule category are established players in the spirulina market, providing a simple and easy-to-consume format for incorporating spirulina into everyday diets. Spirulina supplements are widely delivered in the form of tablets and capsules, interesting to client preferences for convenient and exact dosage intake. The growing need for health supplements among health-conscious individuals exploring the benefits of spirulina's high nutritional content is regarded as a key growth driver. The government of Haryana introduced spirulina-based products under the Integrated Child Development Scheme (ICDS) for severe acute malnourished (SAM) and moderate acute malnourished (MAM) children on a 6-month pilot basis in Nuh.   

• The nutraceuticals segment is projected to hold the largest market share during the forecast period.     

Based on the application, the global spirulina market is classified into nutraceuticals, food & beverage, and animal feed. Among these, the nutraceuticals segment is projected to hold the largest market share during the forecast period. Growing consumer knowledge of spirulina's health benefits is expected to fuel substantial expansion in the nutraceutical market. Spirulina is abundant in protein, vitamins, and antioxidants, that give several health benefits such as immunologic support, anti-inflammatory, and the ability to decrease triglycerides. As individuals become more aware of their health and look for natural supplements, spirulina's reputation as a sustainable and nutrient-dense superfood grows. The rising incidence of lifestyle-associated health disorders, encouraging people to incorporate spirulina into their normal diets as a preventive measure.

Regional Segment Analysis of the Global Spirulina Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is projected to hold the largest share of the global spirulina market over the forecast period.  

North America is projected to hold the largest share of the global spirulina market over the forecast period. The spirulina market throughout North America is projected to grow further as consumers become more health conscious. Individuals are actively looking for organic ways to enhance their health, and spirulina fits the bill. Its status as a superfood high in protein, vitamins, and antioxidants appeals to health-conscious shoppers. As people seek natural components in their food, spirulina's potential as a natural coloring agent in beverages, confections, and baked products opens up new possibilities. Considering its growing popularity and varied applications, spirulina has an excellent chance for success in the North American market.

Asia-Pacific is expected to grow the fastest CAGR of the global spirulina market during the forecast period. The expected supremacy originates from these countries' extensive production of this algae. Furthermore, the region's rapidly expanding industry is aided by a growing trend: the incorporation of this algae species into nutraceuticals, notably non-dairy products. This strategic integration corresponds with changing consumer preferences for fortified and health-focused alternatives, accelerating the regional market's rising trajectory during the projection period.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global spirulina market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• 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.
• Others

Key Market Developments

• In September 2023, The American Public University System revealed that the Spirulina Algae Group which is part of the University's Supernova Search Group, has been awarded NASA research funding to investigate the application of spirulina for growing plants in space conditions.

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