According to Persistence Market Research,
- Over 128,000 tons of spirulina was globally consumed in 2016, revenues from which touched US$ 718.7 Mn
- Increasing applications of spirulina as a core ingredient in production of food & beverages, animal feed and nutraceuticals will continue instrumenting the growth of global spirulina market
- By the end of 2026, the global spirulina market will have soared at 10% CAGR to reach US$ 1,855.8 Mn value
- Through 2026, the global spirulina consumption will account for sales of more than 321,000 tons, exhibiting an impressive CAGR of 9.6%
Growing awareness about nutritional benefits of spirulina serves as a key driver for the market’s growth. Scientifically proven, spirulina contains the highest amount of proteins found in any naturally-cultivated food ingredient in the world. In the years to come, spirulina will continue to be in great demand across several regions in the world. Persistence Market Research’s report, titled “Spirulina Market: Global Industry Analysis and Forecast, 2016-2026,” projects that North America will be the world’s largest market for spirulina. Through 2026, North America’s spirulina market will be valued over US$ 570 Mn, exhibiting highest value CAGR of 11.5%. While Western Europe and the Asia-Pacific excluding Japan region will also witness lucrative growth in their spirulina markets, the Middle East and Africa region is projected to showcase a positive +84 BPS gain.
- Chr. Hansen A/S
- Cyanotech Corp.
- DDW Inc.
- DIC Corporation
- Dongtai City Spirulina Bio-Engineering Co., Ltd.
- Fuqing King Dnarmsa Spirulina Co., Ltd.
- GNC Holdings, Inc.
- GNT Holding B.V.
- Now Health Group Inc.
- Sensient Technologies Corp.
The report reveals that regulatory bodies from around the globe are approving the use of spirulina in production of new food items & beverages. Leading foodmaker The Mars Inc.’s petition for approval of spirulina as a key ingredient in production of new products was conceded by the FDA, garnering attention of other prominent manufacturers of food & beverage products. Furthermore, commercial-scale production of spirulina has also become more feasible due to advent to technological advancements. Cost-effectiveness of such production procedures are guaranteeing higher profit margins for spirulina manufacturers, effectuating a significant rise in entry of new players in the market.
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In 2016, sales of nearly 90 thousand tons of spirulina powder was recorded across the globe. Highlighting this, the report reveals that revenues from global sales of powdered spirulina will soar at the highest CAGR of 10.4%. Demand for spirulina in the form of tablets & capsules will also gain traction at a comparatively steady pace. Based on the applications, more than 250,000 tons of spirulina will be consumed globally for production of nutraceuticals by the end of 2026. Throughout the forecast period, the demand for spirulina will remain high in production of nutraceuticals, followed by food & beverages.
1. Spirulina Market Executive Summary
2. Global Spirulina Market Overview
2.1.1. Global Spirulina Market Definition
2.1.2. Global Spirulina Market Taxonomy
2.2. Market Dynamics
126.96.36.199. Economic Side Drivers
188.8.131.52. Demand Side Drivers
184.108.40.206. Supply Side Drivers
2.3. PESTEL Analysis
2.4. Porter’s Five Force Model
2.5. Policies and Regulatory Landscape
2.5.9. GCC Countries
2.5.10. South Africa
2.6. Global Spirulina Market Forecast 2015-2026
2.6.1. Pricing Analysis
220.127.116.11. Pricing Analysis by Region
18.104.22.168. Pricing Analysis by Product Type
22.214.171.124. Key Takeaways
2.6.2. Market Size & Forecast
126.96.36.199. Market Scenario Forecast (Likely, Optimistic and Conservative Scenario)
188.8.131.52. Market value and Volume Forecast, 2016–2026
184.108.40.206. Absolute $ Opportunity
2.6.3. Value Chain Analysis
220.127.116.11. Value Chain Scenario
18.104.22.168. Industry Margins Overview
22.214.171.124. Industry Margins Overview by Region
126.96.36.199. List of Supply/Value Chain Participants
3. Global Spirulina Market, by Product Form
3.3. Analysis & Forecast, by Product Form
3.4. Market Share and Y-o-Y Growth Analysis, by Product Form
3.5. Market Value Forecast by Product Form, 2016–2026
3.5.2. Tablet and Capsule
3.5.4. Granule and Gelling Agent
3.6. Market Attractiveness by Product Form
4. Global Spirulina Market, by Application
4.3. Analysis & Forecast, by Application
4.4. Market Share and Y-o-Y Growth Analysis, by Product type
4.5. Market Value Forecast by Application, 2016–2026
4.5.2. Food and Beverage
4.5.3. Animal Feed and Pet Food
4.5.4. Cosmetics and Spa Treatment
4.6. Market Attractiveness by Application
5. Global Spirulina Analysis and Forecasts, by Region
5.3. Analysis & Forecast, by Region
5.4. Market Share and Y-o-Y Growth Analysis, by Product type
5.5. Market Attractiveness by Region
6. North America Spirulina Analysis and Forecast
6.1.1. Value and Volume Forecast, 2016-2026
6.1.2. Absolute $ Opportunity
6.1.3. Basis Point Share (BPS) Analysis by Country
6.1.4. Y-o-Y Growth Projections by Country
6.2. Market Analysis & Forecast by Product Form, 2015–2026
6.2.2. Tablet and Capsule
6.2.4. Granule and Gelling Agent
6.3. Market Analysis & Forecast by Application type, 2015–2026
6.3.2. Food and Beverage
6.3.3. Animal Feed and Pet Food
6.3.4. Cosmetics and Spa Treatment
6.4. Market Analysis & Forecast by Country, 2015–2026
6.5. Market Trends
6.6. Market Attractiveness Analysis
6.6.1. by Product
6.6.2. by Application
6.6.3. by Country
7. Latin America Spirulina Analysis and Forecast