Global Spirulina Powder Market 2018-2022
About Spirulina Powder
Spirulina is a biomass of blue-green algae. The processed form of this biomass is generally consumed as a dietary supplement or whole food. It is rich in nutrients and offers numerous health benefits.
Technavio’s analysts forecast the global spirulina powder market to grow at a CAGR of 12.03 % during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global spirulina powder market for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of spirulina powder.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Spirulina Powder Market 2018-2022
Technavio recognizes the following companies as the key players in the global spirulina powder market: Cyanotech Corporation (CC), DIC Corporation, E.I.D. – Parry, Naturya, NOW Foods
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increasing popularity of online retailing. The increasing popularity of e-commerce has led to an increase in profit margins and revenues. Ecommerce accounted for nearly 12% of the global retail trade in 2016. Online and e-commerce channels support both business-to-consumer (B2C) and business-to-business (B2B) operations. The average amount of money spent per online transaction and the number of online transactions taking place are increasing every day. The rise in the number of Internet users and willingness of customers to shop online contribute significantly to the success of online retailing.”
According to the report, one of the major drivers for this market is Increasing influence of organized retailing. The increasing number of supermarkets, hypermarkets, and specialty stores in the world has significantly improved organized retailing. Algae-based dietary supplements and spirulina-based F&B products are primarily sold by large organized retailers. Vendors are highly dependent on large organized retailers.
Further, the report states that one of the major factors hindering the growth of this market is Challenges in distribution of spirulina powder. Retail stores such as supermarkets and large chains of discount or convenience stores are the key distribution channels for the manufacturers and vendors of spirulina powder.
Cyanotech Corporation (CC), DIC Corporation, E.I.D. – Parry, Naturya, NOW Foods
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