Spirulina Market to Reach USD 864 Million by 2030, Registering an 9% CAGR

Spirulina Market to Reach USD 864 Million by 2030, Registering an 9% CAGR

According to Next Move Strategy Consulting, the Spirulina Market is poised for significant growth, expected to reach USD 864 million by 2030 reflecting a compound annual growth rate (CAGR) of 8% during the forecast period, according to a new report.

Download Free Sample: https://www.nextmsc.com/spirulina-market/request-sample

Spirulina, a nutrient-rich edible microalga, has garnered attention for its exceptional health benefits and eco-friendly properties. This blue-green algae, scientifically known as Arthrospira platensis, thrives in aquatic environments like lakes, ponds, and saltwater bodies. Spirulina's high protein content, essential vitamins, minerals, and amino acids make it a valuable source of nutrition for humans and animals alike. It is particularly popular in health-conscious communities, vegan diets, and as a supplement for athletes and bodybuilders.

Market Dynamics and Growth Drivers

The spirulina market's growth is driven by its high nutritional value and its increasing popularity as a dietary supplement in response to rising global concerns about malnutrition. Spirulina’s unique ability to promote digestive health, boost energy levels, support weight management, and enhance immune function is propelling its use in a wide array of industries, including health & wellness, agriculture, and food production.

A notable trend is NASA's use of spirulina as a dietary supplement for astronauts on space missions, helping to adjust immune functions and providing anti-inflammatory support. Furthermore, spirulina’s versatile applications extend beyond supplements to biofertilizers, food coloring, cosmetics, and biofuels. For instance, spirulina-based fertilizers are proving effective in enhancing crop yields, as demonstrated by a European Commission study on spirulina-based biofertilizers that boosted crop yields by up to 33%.

However, the market faces challenges, including limited consumer awareness and the availability of synthetic colorants. Despite this, the increasing adoption of spirulina-based natural food colorants in place of synthetic alternatives presents a promising opportunity for market expansion.

Inquire Before Buying: https://www.nextmsc.com/spirulina-market/inquire-before-buying

Segment Insights

The spirulina market is segmented into various categories based on nature, type, form, application, and distribution channel. By nature, the market is divided into organic and conventional spirulina. In terms of type, Arthrospira platensis dominates, followed by Arthrospira maxima. The forms of spirulina available include capsules, tablets, powders, gelling agents, and liquids.

Applications for spirulina span nutraceuticals, food & beverages, cosmetics, spa treatments, animal feed, and biofuels. The distribution channels include both consumer and business channels, catering to different segments of the market.

Regional Outlook

North America currently leads the spirulina market, driven by high demand in the United States, which is the primary consumer and exporter of spirulina products. The U.S. Food and Drug Administration (FDA) approved spirulina-derived phycocyanin as a food-safe blue dye, increasing its use in various applications such as sweets, chocolates, and beverages.

Asia-Pacific is another key region showing steady growth due to the presence of major spirulina exporters like India, China, and Malaysia. The demand for spirulina in biofertilizers, cosmetics, and nutraceuticals is growing rapidly in the region, especially in countries such as China and India, where spirulina is increasingly used for improving immunity and addressing malnutrition.

Competitive Landscape

The spirulina market is competitive, with several key players driving innovation and market expansion. Notable market participants include Chr. Hansen A/S, DIC Corporation, Cyanotech Corporation, Aim Grow Biotech Co. Ltd., and Earthrise Nutritionals. These companies are actively launching new products and forming strategic partnerships to strengthen their market presence.

For example, in August 2021, Prolgae Spirulina Supplies Pvt Ltd launched a 100% vegan sweet spirulina powder and protein bar to help consumers boost immunity. In June 2020, DIC Corporation introduced a liquid version of spirulina-derived natural food coloring, providing a vibrant blue color in a convenient no-drip bottle.

Conclusion

The spirulina market is experiencing dynamic growth, driven by its nutritional benefits, versatility in applications, and increasing demand across multiple industries. As consumers and businesses continue to seek sustainable and health-boosting solutions, the market is poised for further expansion. The ongoing research into spirulina-based biofertilizers, colorants, and other innovative products will continue to shape the future of the industry.

Also, Browse Related Reports:   

For more information, please contact:

Next Move Strategy Consulting

E-Mail: info@nextmsc.com

Direct: +1-217-650-7991

Website: www.nextmsc.com

Follow Us: LinkedIn | Twitter | Facebook | Instagram | YouTube

About Next Move Strategy Consulting:

Next Move Strategy Consulting is a premier market research and management consulting firm that has been committed to provide strategically analysed well documented latest research reports to its clients. The research industry is flooded with many firms to choose from, what makes Next Move different from the rest is its top-quality research and the obsession of turning data into knowledge by dissecting every bit of it and providing fact-based research recommendation that is supported by information collected from over 500 million websites, paid databases, industry journals and one on one consultations with industry experts across a diverse range of industry sectors. The high-quality customized research reports with actionable insights and excellent end-to-end customer service help our clients to take critical business decisions that enables them to move beyond time and have competitive edge in the industry.

We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicates as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solutions that range from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses.

Back to blog