Spirulina Powder Market size is estimated to reach $897.3 million by 2027, growing at a CAGR of 9.2% during the forecast period 2022-2027. Spirulina falls under the category of cyanobacteria and is delineated as protein and amino acid-rich microalgae with blue-green color recurrently used as a dietary supplement. It encompasses pigments like C phycocyanin and phycoerythrin which are responsible for its color. Spirulina is home to several amino acids such as valine, linoleic acid, phenylalanine, thionine, and lysine, therefore, extending several antioxidant effects. These blue-green color algae are a rich source of algae biomass as it converts sunlight into energy with no trouble. Owing to its amino acid-rich nature extends numerous health benefits such as reducing inflammation, preventing risks of CVDs like cancer and heart attack, lowering the levels of LDL, stabilizing blood pressure levels, curing allergic rhinitis, reducing the risk of diabetes, and many more. These algae exhibit vast applications ranging from the pharmaceutical sector to the food and beverage industry. The Spirulina Powder Market outlook is fairly captivating owing to its striking demand. Moreover, proliferating usage of cosmetics and various dietary supplements, growing health awareness among people, and augmenting research and development activities are the factors set to drive the growth of the Spirulina Powder Market for the period 2022-2027.
Report Coverage
The report: “Spirulina Powder Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Spirulina Powder Market.
By Type: Organic and Conventional.
By Packaging: Blister trays, Plastic containers, Stand-up pouches, Glass bottles, and others.
By Application: Personal care, Food and beverages, Pharmaceuticals, Agriculture, and others.
By Distribution Channel: Offline platforms (pharmacies, drug stores, supermarkets/hypermarkets, convenience stores, and others), Online platforms.
By Geography: North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America) and Rest of World (the Middle East and Africa).
Key Takeaways
- Geographically, the North America Spirulina Powder Market accounted for the highest revenue share in 2021. Nevertheless, Asia-Pacific is poised to dominate the market over the period 2022-2027.
- The rising prevalence of chronic ailments and accruing disposable income in developing countries are said to be preeminent drivers driving the growth of the Spirulina Powder Market. Environmental complications like extreme weather events are said to reduce market growth.
- Detailed analysis of the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Spirulina Powder Market report.
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Proliferating disposable incomes due to the rising economic wealth of developing countries are Expected to Boost Product Demand
The aforementioned driver has brought a quote into life “Money isn’t everything but everything needs money.” Therefore, in order to gravitate toward multinational business developing nations like India, China, Indonesia, others are constantly allocating billions of dollars to ameliorate their existing infrastructure. As a result, heightening manufacturing and spiraling exports are ensuring economic prosperity in these nations. For instance, leaving the Us behind, in 2021 China attained the status of the richest country in the world. China’s wealth has accumulated to $514 trillion dollars. Another rising trade relations in countries are another prominent reason is economic growth. Recently, China and India's trade has hit new heights of $125 billion dollars. Moreover, despite the pandemic, China’s exports have risen by 30% and reached $3.36 trillion in 2021. As a result, per capita incomes of these countries are too witnessing a rise and improving the quality of lives people.
Spirulina Powder Market Challenges
Environmental complications are Anticipated to Hamper Market Growth
The utmost dependency of major world manufacturers like China and India has allured the flak of several western countries in recent years. As heavy carbon emission from this nation is the biggest factor in increasing global warming which further results in floods, rising sea levels, changed season durations, and devastating natural habitat. According to NASA's temperature record, Earth in 2021 was about 1.9 degrees Fahrenheit (or about 1.1 degrees Celsius) warmer than the late 19th-century average, the start of the industrial revolution. All these events are reducing the overall yield of spirulina and are likely to challenge the steady growth of the respective market.
Spirulina Powder Industry Outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Spirulina Powder Market. Key companies in this market are-
- Dohler GmbH
- DIC Corporation
- Cyanotech Corporation
- EID Parry Ltd
- Dongtai City Spirulina Bio-engineering Co
- Algene Biotech
- Penn Herb
- Naturex SA
- Algenol Biofuels
- Sensient Technologies
Recent Developments
- July 15, 2021, Wisconsin, United states-based company Sensient Technologies (a flavor and color manufacturing firm) publicized that it has successfully acquired US-based food product supplying company “Flavor Solutions.” The financials of the transaction were kept a secret by the company. Moreover, the transaction extends several benefits by strengthening flavor associated portfolio of Sensient.
- In January 2021, SNACK Brand, Inc., the expert in farm-fresh spirulina launched Superfood Cluster and Spirulina Powder on Amazon.
- August 29, 2019, Tokyo, Japan-based chemical company “DIC Corporation” announced the successful acquisition of the pigment business (known as BCE) of Ludwigshafen, Germany-based chemical producer “BASF.” DIC has paid around 1.15 billion euros to bring the acquisition to a close. Moreover, the acquisition has strengthened the pigment portfolio of DIC.
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