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Global Spirulina Market Size and Overview

Spirulina Market Outlook

Spirulina is one of the natural multicellular and filamentous blue-green microalgae that grow naturally in the rivers in warm regions, alkaline waters of lakes, and ponds. Spirulina can be harvested and processed easily and have significantly high macro- and micronutrient contents. Owing to the use of spirulina as protein supplement and as human health food or super food, it has gained considerable popularity in the human health food industry and in many developing and under-developed countries such as India and African countries, where there is prevalence of malnutrition. In recent years, consumption of spirulina has grown with increase health conscious consumers and use of healthy food products. The global spirulina market size was $298.6 million in 2018, and is projected to reach $704.8 million by 2025, growing at a CAGR of 8.4% from 2019 to 2025.

Spirulina Market Snapshot

spirulina_market
Market Dynamics

Rise in demand for natural ingredients, growing health and wellness trend, growing vegetarian population, and increasing promotion for the production of spirulina by government have fueled the growth of the global spirulina market. Conversely, low awareness of benefits of spirulina and complex production has hindered the growth of this market to some extent.

Segment Overview:

Application Segment Overview

On the basis of application, food & beverages segment accounted for the major share of the global spirulina market in 2018. The large share of this segment mainly attributed to the growing health concerns of aging population mainly in developing countries, growing desire for natural alternatives to traditional products, and increased awareness among consumers on the link between nutrition and health.

Formulation Segment Overview

On the basis of formulation, powdered spirulina held the largest share of the global spirulina market in 2018. The large share of this segment is mainly attributed to its advantages over other form, such as better consistency, ease of handling, simple transport economics, and better stability.

Geographic Overview

On the basis of geography, the spirulina market analysis is conducted across North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. North America held the major share in global spirulina market in 2018, and is expected to remain dominant throughout the forecast period. The huge share of this market is attributed to its increased demand for naturally derived ingredients, increasing regulations against synthetic colors, and rising alertness among consumers for natural food products. However, Asia-Pacific is expected to grow at the fastest CAGR during the forecast period. The fastest growth of this region primarily attributed to robust growth of the food processing industry, increasing presence of vegetarian consumers, and growing numbers of national and provincial level research.

Competitive Landscape

 The global spirulina market is a moderately competitive market.  To enlargement of market presence key ma players’ mainly focus on strategies such as new product launches, mergers, acquisitions, and collaborations. Key players include in spirulina market are Cyanotech Corporation, Tianjin Norland Biotech Co., Ltd., Naturya, Guangzhou Endless Biotech Co. Ltd., DIC Corporation, Algene Biotech, Chr. Hansen Holding A/S, E.I.D. Parry (India) Ltd., Dongtai City Spirulina Bio-engineering Co., Ltd., Now Foods, Prolgae, Sensient Technologies Corporation, DDW Inc., Naturex S.A., and TAAU Australia Pty Ltd.

Spirulina Market Segments:

Spirulina Market by Type

    Arthrospira Platensis
    Arthrospira Maxima
    Spirulina Fusiformis

Spirulina Market by Application

    Nutraceutical
    Cosmetics
    Food & Beverages
    Animal Feed
    Pharmaceutical
    Others

Spirulina Market by Formulation

    Powder
    Tablet
    Capsule
    Liquid
    Flakes

Spirulina Market by Geography

    North America
        U.S.
        Canada
    Europe
        Germany
        France
        U.K.
        Netherlands
        Italy
        Rest of Europe
    Asia-Pacific
        China
        Japan
        India
        Rest of Asia Pacific
    Latin America
    Middle East & Africa

TABLE OF CONTENT
1.    Introduction
1.1.    Market Definition
1.2.    Purpose of the Report
1.3.    Currency
1.4.    Limitations
1.5.    Stakeholders

2.    Research Methodology
2.1.    Research Scope
2.2.    Market Segmentation
2.3.    Research Approach
2.3.1.    Top-Down Approach
2.3.2.    Bottom-Up Approach
2.4.    Primary Research
2.5.    Secondary Research
2.6.    Assumptions

3.    Executive Summary
3.1.    Global Market Snapshot, by Geography
3.2.    Spirulina Market, by Type
3.3.    Spirulina Market, by Application
3.4.    Spirulina Market, by Drug Formulation
3.5.    Competitive Landscape

4.    Market Overview
4.1.    Market Dynamics
4.1.1.    Driving Forces
4.1.1.1.    Rise In Demand For Natural Ingredients
4.1.1.2.    Growing Health And Wellness Trend
4.1.1.3.    Growing Vegetarian Population
4.1.1.4.    Promotion Of The Production Of Spirulina By Government
4.1.2.    Restraining Factors
4.1.2.1.    Low Awareness Of Benefits Of Spirulina
4.1.2.2.    Complex Production
4.1.3.    Opportunity Matrix
4.1.3.1.    Development of New Application Areas
4.1.3.2.    Developing Economies

5.    Industry Insights
5.1.    Porter's Five Forces Analysis
5.1.1.    Bargaining power of supplier
5.1.2.    Bargaining power of buyer
5.1.3.    Threat of substitute
5.1.4.    Threat of new entrant
5.1.5.    Degree of competition
5.2.    Value Chain Analysis
5.3.    Pricing Analysis

6.    Spirulina Market, by Type
6.1.    Arthrospira Platensis
6.2.    Arthrospira Maxima
6.3.    Spirulina Fusiformis

7.    Spirulina Market, by Application
7.1.    Nutraceutical
7.2.    Cosmetics
7.3.    Food & Beverages
7.4.    Animal Feed
7.5.    Pharmaceutical
7.6.    Others

8.    Spirulina Market, by Drug Formulation
8.1.    Powder
8.2.    Tablet
8.3.    Capsule
8.4.    Liquid
8.5.    Flakes

9.    Spirulina Market, by Region
9.1.    North America
9.1.1.    U.S.
9.1.2.    Canada
9.2.    Europe
9.2.1.    Germany
9.2.2.    France
9.2.3.    UK
9.2.4.    Netherlands
9.2.5.    Italy
9.2.6.    Rest of Europe
9.3.    Asia-Pacific
9.3.1.    China
9.3.2.    Japan
9.3.3.    India
9.3.4.    Rest of APAC
9.4.    Latin America
9.5.    Middle East and Africa

10.    Competitive Landscape
10.1.    Key Players Analysis
10.2.    Strategic Analysis
10.2.1.    New Product Developments
10.2.2.    Mergers & Acquisitions
10.2.3.    Portfolio/Production Capacity Expansions
10.2.4.    Geographic Expansions
10.2.5.    Joint Ventures, Collaborations, Partnerships & Agreements
10.2.6.    Others

11.    Company Profiles
11.1.    Cyanotech Corporation
11.1.1.    Company Overview
11.1.2.    Financial Snapshot
11.1.3.    Products
11.1.4.    Recent Developments
11.2.    Tianjin Norland Biotech Co., Ltd
11.2.1.    Company Overview
11.2.2.    Financial Snapshot
11.2.3.    Products
11.2.4.    Recent Developments
11.3.    Naturya
11.3.1.    Company Overview
11.3.2.    Financial Snapshot
11.3.3.    Products
11.3.4.    Recent Developments
11.4.    Guangzhou Endless Biotech Co. Ltd.
11.4.1.    Company Overview
11.4.2.    Financial Snapshot
11.4.3.    Products
11.4.4.    Recent Developments
11.5.    DIC Corporation
11.5.1.    Company Overview
11.5.2.    Financial Snapshot
11.5.3.    Products
11.5.4.    Recent Developments
11.6.    Algene Biotech
11.6.1.    Company Overview
11.6.2.    Financial Snapshot
11.6.3.    Products
11.6.4.    Recent Developments
11.7.    Chr. Hansen Holding A/S
11.7.1.    Company Overview
11.7.2.    Financial Snapshot
11.7.3.    Products
11.7.4.    Recent Developments
11.8.    E.I.D. Parry (India) Ltd.
11.8.1.    Company Overview
11.8.2.    Financial Snapshot
11.8.3.    Products
11.8.4.    Recent Developments
11.9.    Spirulina Bio-engineering Co., Ltd.
11.9.1.    Company Overview
11.9.2.    Financial Snapshot
11.9.3.    Products
11.9.4.    Recent Developments
11.10.    Now Foods
11.10.1.    Company Overview
11.10.2.    Financial Snapshot
11.10.3.    Products
11.10.4.    Recent Developments
11.11.    Prolgae
11.11.1.    Company Overview
11.11.2.    Financial Snapshot
11.11.3.    Products
11.11.4.    Recent Developments
11.12.    Sensient Technologies Corporation
11.12.1.    Company Overview
11.12.2.    Financial Snapshot
11.12.3.    Products
11.12.4.    Recent Developments Prolgae
11.13.     DDW Inc.
11.13.1.    Company Overview
11.13.2.    Financial Snapshot
11.13.3.    Products
11.13.4.    Recent Developments
11.14.    Naturex S.A.,
11.14.1.    Company Overview
11.14.2.    Financial Snapshot
11.14.3.    Products
11.14.4.    Recent Developments
11.15.    TAAU Australia Pty Ltd
11.15.1.    Company Overview
11.15.2.    Financial Snapshot
11.15.3.    Products
11.15.4.    Recent Developments Prolgae

LIST OF TABLES
Table    1    Spirulina Market Size, By Type
Table    2    Spirulina Market Size, By Application (US$ Mn, CAGR %), 2019-2025
Table    3    Spirulina Market, By Drug Formulation, (US$ Mn, CAGR %), 2019-2025
Table    4    Spirulina Market, By Region, (US$ Mn, CAGR %), 2019-2025
Table    5    North America: Spirulina Market Size, By Country, (US$ Mn, CAGR %), 2019-2025
Table    6    North America: Spirulina Market Size, By Type (US$ Mn, CAGR %), 2019-2025
Table    7    North America: Spirulina Market Size, By Application (US$ Mn, CAGR %), 2019-2025
Table    8    North America: Spirulina Market Size, Drug Formulation (US$ Mn, CAGR %), 2019-2025
Table    9    US: Spirulina Market Size, By Type (US$ Mn, CAGR %), 2019-2025
Table    10    US: Spirulina Market Size, By Application (US$ Mn, CAGR %), 2019-2025
Table    11    US: Spirulina Market Size, By Drug Formulation (US$ Mn, CAGR %), 2019-2025
Table    12    Canada: Spirulina Market Size, By Type (US$ Mn, CAGR %), 2019-2025
Table    13    Canada: Spirulina Market Size, By Application (US$ Mn, CAGR %), 2019-2025
Table    14    Canada: Spirulina Market Size, By Drug Formulation (US$ Mn, CAGR %), 2019-2025
Table    15    Europe: Spirulina Market Size, By Country (US$ Mn, CAGR %), 2019-2025
Table    16    Europe: Spirulina Market Size, By Type (US$ Mn, CAGR %), 2019-2025
Table    17    Europe: Spirulina Market Size, By Application (US$ Mn, CAGR %), 2019-2025
Table    18    Europe: Spirulina Market Size, By Drug Formulation (US$ Mn, CAGR %), 2019-2025
Table    19    Germany: Spirulina Market Size, By Type, (US$ Mn, CAGR %), 2019-2025
Table    20    Germany: Spirulina Market Size, By Application (US$ Mn, CAGR %), 2019-2025
Table    21    Germany: Spirulina Market Size, By Drug Formulation (US$ Mn, CAGR %), 2019-2025
Table    22    France: Spirulina Market Size, By Type, (US$ Mn, CAGR %), 2019-2025
Table    23    France: Spirulina Market Size, By Application (US$ Mn, CAGR %), 2019-2025
Table    24    France: Spirulina Market Size, By Drug Formulation (US$ Mn, CAGR %), 2019-2025
Table    25    UK: Spirulina Market Size, By Type, (US$ Mn, CAGR %), 2019-2025
Table    26    UK: Spirulina Market Size, By Application (US$ Mn, CAGR %), 2019-2025
Table    27    UK: Spirulina Market Size, By Drug Formulation (US$ Mn, CAGR %), 2019-2025
Table    28    Netherlands: Spirulina Market Size, By Type, (US$ Mn, CAGR %), 2019-2025
Table    29    Netherlands: Spirulina Market Size, By Application (US$ Mn, CAGR %), 2019-2025
Table    30    Netherlands: Spirulina Market Size, By Drug Formulation (US$ Mn, CAGR %), 2019-2025
Table    31    Italy: Spirulina Market Size, By Type, (US$ Mn, CAGR %), 2019-2025
Table    32    Italy: Spirulina Market Size, By Application (US$ Mn, CAGR %), 2019-2025
Table    33    Italy: Spirulina Market Size, By Drug Formulation (US$ Mn, CAGR %), 2019-2025
Table    34    Rest of Europe: Spirulina Market Size, By Type, (US$ Mn, CAGR %), 2019-2025
Table    35    Rest of Europe: Spirulina Market Size, By Application (US$ Mn, CAGR %), 2019-2025
Table    36    Rest of Europe: Spirulina Market Size, By Drug Formulation (US$ Mn, CAGR %), 2019-2025
Table    37    Asia-Pacific: Spirulina Market Size, By Country, 2019-2025 (Kiloton)
Table    38    Asia-Pacific: Spirulina Market Size, By Type, (US$ Mn, CAGR %), 2019-2025
Table    39    Asia-Pacific: Spirulina Market Size, By Application (US$ Mn, CAGR %), 2019-2025
Table    40    Asia-Pacific: Spirulina Market Size, By Drug Formulation (US$ Mn, CAGR %), 2019-2025
Table    41    China: Spirulina Market Size, By Type, (US$ Mn, CAGR %), 2019-2025
Table    42    China: Spirulina Market Size, By Application (US$ Mn, CAGR %), 2019-2025
Table    43    China: Spirulina Market Size, By Drug Formulation (US$ Mn, CAGR %), 2019-2025
Table    44    Japan: Spirulina Market Size, By Type, (US$ Mn, CAGR %), 2019-2025
Table    45    Japan: Spirulina Market Size, By Application (US$ Mn, CAGR %), 2019-2025
Table    46    Japan: Spirulina Market Size, By Drug Formulation (US$ Mn, CAGR %), 2019-2025
Table    47    India: Spirulina Market Size, By Type, (US$ Mn, CAGR %), 2019-2025
Table    48    India: Spirulina Market Size, By Application (US$ Mn, CAGR %), 2019-2025
Table    49    India: Spirulina Market Size, By Drug Formulation (US$ Mn, CAGR %), 2019-2025
Table    50    Rest of APAC: Spirulina Market Size, By Type, (US$ Mn, CAGR %), 2019-2025
Table    51    Rest of APAC: Spirulina Market Size, By Application (US$ Mn, CAGR %), 2019-2025
Table    52    Rest of APAC: Spirulina Market Size, By Drug Formulation (US$ Mn, CAGR %), 2019-2025
Table    53    Latin America: Spirulina Market Size, By Type, (US$ Mn, CAGR %), 2019-2025
Table    54    Latin America: Spirulina Market Size, By Application (US$ Mn, CAGR %), 2019-2025
Table    55    Latin America: Spirulina Market Size, By Drug Formulation (US$ Mn, CAGR %), 2019-2025
Table    56    Middle East and Africa: Spirulina Market Size, By Type, (US$ Mn, CAGR %), 2019-2025
Table    57    Middle East and Africa: Spirulina Market Size, By Application (US$ Mn, CAGR %), 2019-2025
Table    58    Middle East and Africa: Spirulina Market Size, By Drug Formulation (US$ Mn, CAGR %), 2019-2025

LIST OF FIGURES
Figure 1    Spirulina Market Segmentation
Figure 2    Spirulina Market: Research Design
Figure 3    Drivers, Restraints, and Opportunities in the Spirulina Market
Figure 4    Spirulina Market: Porter’s Five Forces Analysis
Figure 5    Spirulina Market: Value Chain Analysis
Figure 6    Spirulina Market: Pricing Analysis
Figure 7    Spirulina Market, By Type (2019-2025)
Figure 8    Spirulina Market, By Application (2019-2025)
Figure 9    Spirulina Market, By Drug Formulation (2019-2025)
Figure 10    Global Spirulina Market, By Region
Figure 11    North America: Spirulina Market Snapshot
Figure 12    Europe: Spirulina Market Snapshot
Figure 13    Asia-Pacific: Spirulina Market Snapshot
Figure 14    Latin America: Spirulina Market Snapshot
Figure 15    Middle East and Africa: Spirulina Market Snapshot
Figure 16    Cyanotech Corporation: Financial Snapshot
Figure 17    DIC Corporation: Financial Snapshot
Figure 18    Naturya: Financial Snapshot
Figure 19    EID Parry (India) Ltd.: Financial Snapshot

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