Global Spirulina Market (2021-2026) by Type, Application, Formulation and Geography, IGR Competitive Analysis, Impact of Covid-19, Ansoff Analysis
Introduction
The Global Spirulina Market is estimated to be USD 335.2 Mn in 2021 and is expected to reach USD 466.85 Mn by 2026, growing at a CAGR of 6.85%.
Market Dynamics
Spirulina is an organism that grows in both fresh and saltwater. It is a type of cyanobacteria, which is a family of single-celled microbes that are often referred to as blue-green algae. Just like plants, cyanobacteria can produce energy from sunlight via a process called photosynthesis. Factors such as the increase in demand for natural ingredients and cyanobacteria for weight reduction and personal care, promotion of spirulina production by the government, and R&D of spirulina as commercial products are drivers for the market. The impact on spirulina production due to climate change and the risk of side effects is a restraint to the market.
Untapped markets in developing countries, easy to cultivate due to development in cultivation technology, and the importance of spirulina in cancer treatment are opportunities for market growth. Complex production of algae products, and the high cost of spirulina act as a challenge to it.
Market Segmentation
The Global Spirulina Market is segmented further based on Type, Application, Formulation and Geography.
By Type, the market is classified into Arthrospira Platensis and Arthrospira maxima segments. Amongst all segments, the Arthrospira Platensis segment is expected to grow at the highest CAGR.
By Application, the market is classified into Nutraceuticals, Cosmetics, Food & beverages, Animal Feed and Other Applications segments. Amongst all, the Nutraceuticals segment is expected to contribute the highest growth.
By Formulation, the market is classified into Powder, Tablet & Capsule, Liquid and Granule & Gelling agent segments. Amongst all segments, the Powder segment is expected to grow at the highest CAGR.
By Geography, North America is projected to lead the market.
Recent Developments
1. Fermentalg brings its new Blue Origins to market through a commercial development agreement with DDW – 25th June 2020
2. Unilever and Algenuity partner to explore microalgae protein – 30th July 2020
Company Profiles
Some of the companies covered in this report are Algenol Biofuels Inc., Cabassi & Giuriati Spa, Cyanotech Corporation, Ddw Inc., Dic Corporation, Döhler Gmbh, Dongtai City Spirulina Bio-Engineering Co, Ltd., and Echlorial, etc.
IGR Competitive Quadrant
The report includes the IGR Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
Why buy this report?
The report offers a comprehensive evaluation of the Global Spirulina Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
The report includes an in-depth market analysis using Porter’s 5 forces model and the Ansoff Matrix. In addition, the impact of Covid-19 on the market is also featured in the report.
The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
The report also contains the competitive analysis using IGR Positioning Quadrants, Infogence’s Proprietary competitive positioning tool.
Report Highlights:
A complete analysis of the market, including parent industry
Important market dynamics and trends
Market segmentation
Historical, current, and projected size of the market based on value and volume
Market shares and strategies of key players
Recommendations to companies for strengthening their foothold in the market
- 1 Report Description
- 1.1 Study Objectives
- 1.2 Market Definition
- 1.3 Currency
- 1.4 Years Considered
- 1.5 Language
- 1.6 Key Stakeholders
- 2 Research Methodology
- 2.1 Research Process
- 2.2 Data Collection and Validation
- 2.2.1 Secondary Research
- 2.2.2 Primary Research
- 2.2.3 IGR Models
- 2.3 Market Size Estimation
- 2.3.1 Bottom-Up Approach
- 2.3.2 Top-Down Approach
- 2.4 Assumptions of the Study
- 2.5 Limitations of the Study
- 3 Executive Summary
- 3.1 Introduction
- 3.2 Market Size and Segmentation
- 3.3 Market Outlook
- 4 Market Influencers
- 4.1 Drivers
- 4.1.1 Increase in Demand for Natural Ingredient and Cyanobacteria for Weight Reduction and Personal Care
- 4.1.2 Promotion of the Production of Spirulina by the Government
- 4.1.3 R&D of Spirulina as a Commercial Products
- 4.2 Restraints
- 4.2.1 Impact on Spirulina Production due to Climate Change
- 4.2.2 Risk of Side Effects
- 4.3 Opportunities
- 4.3.1 Untapped Markets in the Developing Countries
- 4.3.2 Easy to Cultivate due to Development in Cultivation Technology
- 4.3.3 Importance of Spirulina in Cancer Treatment
- 4.4 Challenges
- 4.4.1 Complex Production of Algae products
- 4.4.2 High Cost of Spirulina
- 5 Market Analysis
- 5.1 Regulatory Scenario
- 5.2 Porter’s Five Forces Analysis
- 5.3 Impact of COVID-19
- 5.4 Ansoff Matrix Analysis
- 6 Global Spirulina Market, By Type
- 6.1 Introduction
- 6.2 Arthrospira Platensis
- 6.3 Arthrospira maxima
- 7 Global Spirulina Market, By Application
- 7.1 Introduction
- 7.2 Nutraceuticals
- 7.3 Cosmetics
- 7.4 Food & Beverages
- 7.5 Animal Feed
- 7.6 Other
- 8 Global Spirulina Market, By Formulation
- 8.1 Introduction
- 8.2 Powder
- 8.3 Tablet & Capsule
- 8.4 Liquid
- 8.5 Granule & Gelling agent
- 9 Global Spirulina Market, By Geography
- 9.1 Introduction
- 9.2 North America
- 9.2.1 US
- 9.2.2 Canada
- 9.2.3 Mexico
- 9.3 South America
- 9.3.1 Brazil
- 9.3.2 Argentina
- 9.3.3 Chile
- 9.3.4 Colombia
- 9.4 Europe
- 9.4.1 UK
- 9.4.2 France
- 9.4.3 Germany
- 9.4.4 Italy
- 9.4.5 Spain
- 9.4.6 Netherlands
- 9.4.7 Sweden
- 9.4.8 Russia
- 9.4.9 Rest of Europe
- 9.5 Asia-Pacific
- 9.5.1 China
- 9.5.2 Japan
- 9.5.3 India
- 9.5.4 Indonesia
- 9.5.5 Malaysia
- 9.5.6 South Korea
- 9.5.7 Australia
- 9.5.8 Sri Lanka
- 9.5.9 Thailand
- 9.5.10 Rest of APAC
- 9.6 Middle-East and Africa
- 9.6.1 Qatar
- 9.6.2 Saudi Arabia
- 9.6.3 South Africa
- 9.6.4 United Arab Emirates
- 10 Competitive Landscape
- 10.1 IGR Competitive Quadrant
- 10.2 Market Share Analysis
- 10.3 Strategic Initiatives
- 10.3.1 M&A and Investments
- 10.3.2 Partnerships and Collaborations
- 10.3.3 Product Developments and Improvements
- 11 Company Profiles
- 11.1 Algenol Biofuels Inc.
- 11.2 Cabassi & Giuriati Spa
- 11.3 Cyanotech Corporation
- 11.4 Ddw Inc.
- 11.5 Dic Corporation
- 11.6 Döhler Gmbh
- 11.7 Dongtai City Spirulina Bio-Engineering Co, Ltd.
- 11.8 Echlorial
- 11.9 E.I.D. Parry Limited
- 11.10 Givaudan International SA
- 11.11 Hydrolina Biotech Private Limited
- 11.12 Jiangxi Alga Biotech
- 11.13 Prolgae Spirulina Supplies Pvt. Ltd.
- 11.14 Pond Technologies Inc.
- 11.15 Sensient Technologies Corporation
- 11.16 Synergy Natural Products Pty Ltd.
- 11.17 Tianjin Norland Biotech Co., Ltd
- 12 Appendix
- 12.1 Questionnaire
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