Global Spirulina Market Outlook: 2017-2022
Spirulina is one of the natural algae in the environment with various advantages and has no side effects, which can be consumed by the human beings as well as animals. It is a type of blue-green algae, an incredible superfood that provides a concentrated source of protein, vitamins, antioxidants, and other nutrients. As one of the oldest life forms on Earth, the use of spirulina as a food source dates all the way back to 9th century in Chad, and it is believed spirulina was used by the Aztecs in 16th-century in Mexico. One of the special traits of spirulina is its rich protein content which is around 50-70% by weight.
The global market for spirulina will increase at a CAGR of 7.1% from 2017 to 2022 to USD 238.3 million by 2022, driven by growing demand for natural food colours, increasing vegetarianism, stringent regulations regarding the inclusion of synthetic colours and flavours, and growing malnutrition across the globe. However, low awareness of the benefits of spirulina and challenges associated with the production of spirulina is expected to hinder the growth of the market to some extent. In addition, emergence of new application areas further provides significant opportunities for the various stakeholders in the global spirulina market.
This study analyzes the global spirulina industry. It presents market size for 2015, 2016, and 2017, with a forecast till 2022 by form (powder, tablets, capsules, and flakes), application (food and beverages, nutraceuticals, pharmaceuticals, veterinary, and cosmetics), and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. The study further analyzes these regions at a country level. Spirulina powder is the most common form of spirulina available in the global market and is expected to dominate the market during the forecast period.
The study also considers environment factors, details industry structure, analyzes market dynamics, evaluates market share of various companies, and profiles key industry players. The global spirulina market is fragmented with the presence of many local and regional players. The key players in the global spirulina market are DIC Corporation, Algene Biotech, Algaetech international sdn.bhd, Sunrise Nutrachem Group, Tianjin Norland Biotech Co., Ltd., Naturya, Guangzhou Endless Biotech Co., Ltd, Synergy Naturals, Cyanotech Corporation, E.I.D. Parry (I) Ltd., Far East Biotech Co. Ltd., (FEBICO), Sanatur GmbH, Fuqing King Dnarmsa Spirulina Co., Ltd., Now Foods, Zelang Biotech, Wudi Fengtai Aquaculture Co, Ltd., The All Natural Company, and Australian Spirulina.
Key questions answered in the report-
Which are the high growth market segments in terms of forms, applications, regions and countries?
What is the historical market for spirulina market across the globe?
What are the market forecasts and estimates from the period 2017-2022?
What are the major drivers, restrains, threats, and opportunities in the global spirulina market?
What are the burning issues of the global spirulina market?
Who are the major players in the global spirulina market and what share of the market do they hold?
Who are the major players in various countries and what share of the market do they hold?
What are the competitive landscapes and who are the market leaders by sub-region in the global spirulina market?
What are the recent developments in the global spirulina market?
What are the different strategies adopted by the major players in the global spirulina market?
What are the geographical trends and high growth regions/ countries?
What are the local emerging players in the global spirulina market and how do they compete with the global players?