The Spirulina Market Size was valued at USD 533.90 million in 2022 and is expected to reach USD 1.20 billion by 2030, and grow at a CAGR of 10.7% over the forecast period 2023-2030.
Spirulina addresses the biomass of cyanobacteria that can be consumed by people and different creatures. Chiefly two types of spirulina are additionally handled for different applications. These incorporate Arthrospira plantensis and Anthrospira maxima. Arthrospira is developed overall and is utilized in dietary enhancements and as entire food. It is accessible in tablets and cases, chips, powder, and fluid structures. Further, spirulina is additionally utilized as a feed supplement in aquarium, hydroponics, and poultry businesses generally.
The developing shopper mindfulness towards various medical advantages of spirulina in relieving the gamble of a few constant illnesses, including heart failure, unfavorably susceptible rhinitis, disease, renal sicknesses, and so forth, is essentially driving the market development. Moreover, the growing nutraceutical area is increasing the wide accessibility of spirulina as powder, tablets and containers, gels, fluid, and so forth. Also, the pervasive pattern of veganism has prompted the rising movement from a meat-based protein diet toward veggie lover options, including spirulina, with high protein content. Aside from this, spirulina is widely embraced in the drug area for creating various medications for repressing viral replication. Furthermore, the developing interest for spirulina-based items in lightening outrageous cravings during crisis philanthropic catastrophe help, and military battle circumstances is likewise supporting the market development. Other than this, the rising usage of spirulina as a feed added substance for upgraded creature development and further developed efficiency is further catalyzing the worldwide market. The changing tendency from synthetic-based feed added substances towards natural choices across the creature farming and hydroponics areas is additionally driving the market development.
Driving Factors:
Expansion sought after for regular fixing and R&D interests in business spirulina items.
Restraining Factors:
Presence of other manufactured food tones.
Opportunity:
The huge development of the food handling industry.
Challenges:
Influence on spirulina creation because of environmental change.
The COVID-19 has cultivated the development of the spirulina market ascribed to the need for healthful consideration and nutrients as a likely cure against the COVID-19 infection. Consequently, specialists certainly stand out toward conceivable job of green growth in postponing the beginning of COVID-19. Furthermore, ocean growth's capability to battle COVID-19 is perceived in many examinations concentrates completed by the associations like the World Health Organization (WHO), accordingly making adequate space to rebalance the kelp business.
Side-effect type, the market is bifurcated into Arthrospira Platensis and Arthrospira Platensis. The Arthrospira Platensis portion held a predominant piece of the pie in 2019 and is expected to keep up with its situation during the conjecture time frame. This is credited to various factors, for example, flood in medical care mindfulness and the joining of spirulina in counting calories as a superfood universally.
By application, the nutraceuticals area represented a significant piece of the pie in 2019. This is owing to the ascent in concern concerning sustenance and wellbeing and expansion in inclination for regular options in contrast to conventional drug items. Spirulina is additionally generally utilized in the food and refreshment area as it has high happiness of regular shades that bestow blue tone and is joined with different varieties to get new altered tones like lavender, violet, and green. Spirulina additionally tracks down its significant application in the corrective and individual consideration industry. It is predominantly utilized in superficial and individual consideration items, particularly for the counter maturing items.
By Type:
Arthrospira Platensis
Arthrospira Maxima
By Application:
Nutraceuticals
Food & Beverages
Cosmetics
Animal Feed
Others
By Formulation:
Powder
Tablet & Capsule
Liquid
Granule & Gelling Agent
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North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
By district, North America is supposed to stay prevailing all through the conjecture period because of its advanced medical services industry, presence of driving makers in the locale, high reception pace of spirulina, and expansion popular for normally inferred food shading specialists in the area. Notwithstanding, Asia-Pacific is supposed to encounter the most elevated development rate during the conjecture time frame, as it offers rewarding open doors for the market players because of the huge development of the food handling industry in the area.
Major company profiles included are Yanotech Corporation, DIC Corporation, Cabassi & Giuriati Spa, DDW, DÖHLER Gmbh, Dongtai City Spirulina Bio-Engineering Co., Ltd., Echlorial, E.I.D. Parry Limited, Givaudan International SA, Prolgae Spirulina Supplies Pvt. Ltd.
Yanotech Corporation-Company Financial Analysis
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 533.90 Million |
| Market Size by 2030 | US$ 1.20 Billion |
| CAGR | CAGR 10.7% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • by Type (Arthrospira Platensis, Arthrospira Maxima) • by Application (Nutraceuticals, Food & Beverages, Cosmetics, Animal Feed, Others) • by Formulation (Powder, Tablet & Capsule, Liquid, Granule & Gelling Agent) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, +D11UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Yanotech Corporation, DIC Corporation, Cabassi & Giuriati Spa, DDW, DÖHLER Gmbh, Dongtai City Spirulina Bio-Engineering Co., Ltd., Echlorial, E.I.D. Parry Limited, Givaudan International SA, Prolgae Spirulina Supplies Pvt. Ltd |
| Key Drivers | •Expansion sought after for regular fixing and R&D interests in business spirulina items. |
| Market Opportunities | •The huge development of the food handling industry. |
Ans: The Nutraceuticals segment is projected to make a foothold in the worldwide Spirulina market.
Ans: The presence of other manufactured food tones and influence on spirulina creation because of environmental change are the restrains/challenges faced by the Spirulina market.
Ans: Yanotech Corporation, DIC Corporation, Cabassi & Giuriati Spa, DDW, DÖHLER Gmbh, Dongtai City Spirulina Bio-Engineering Co., Ltd., Echlorial, E.I.D. Parry Limited, Givaudan International SA, and Prolgae Spirulina Supplies Pvt. Ltd. are the key players in the global Spirulina market.
Ans: The base year calculated in the Spirulina market report is 2021.
Ans: The Global Spirulina Market Size to grow at a CAGR of 10.7% over the forecast period 2022-2028.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value chain analysis
6. Porter’s 5 forces model
7. PEST analysis
8. Global Spirulina Market segmentation, by Type
8.1 Arthrospira Platensis
8.2 Arthrospira Maxima
9. Global Spirulina Market segmentation, by Application
9.1 Nutraceuticals
9.2 Food & Beverages
9.3 Cosmetics
9.4 Animal Feed
9.5 Others
10. Global Spirulina Market segmentation by Formulation
10.1 Powder
10.2 Tablet & Capsule
10.3 Liquid
10.4 Granule & Gelling Agent
11. Global Spirulina Market, by region/ country
11.1 Introduction
11.2 North America
11.2.1 USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 the UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12. Company profiles
12.1 Yanotech Corporation
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 Swot Analysis
12.1.4 The SNS View
12.2 DIC Corporation
12.3 Cabassi & Giuriati Spa
12.4 DDW DÖHLER Gmbh
12.5 Dongtai City Spirulina Bio-Engineering Co., Ltd.
12.6 Echlorial
12.7 E.I.D. Parry Limited
12.8 Givaudan International SA
12.9 Prolgae Spirulina Supplies Pvt. Ltd.
13. Competitive Landscape
13.1 Competitive Bench Marking
13.2 Market Share Analysis
13.3 Recent Developments
14. Conclusion
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