Press Release Description

Growing Consumer Awareness about the Health Benefits of Spirulina to Stimulate the Global Market through 2028

The Global Spirulina Market is expecting around 9.5% CAGR during 2023-28, cites MarkNtel Advisors in their recent research report. The growing health concerns among people from different corners of the world and their rising awareness about the health benefits of spirulina are the prime factors driving the global market. Besides, increasing government support for spirulina production is instigating the leading market players to indulge in several research & development activities and increase the production of this biomass.

Moreover, with antioxidants, hypolipidemic, & anti-inflammatory properties, its demand is rapidly surging across the food & beverage and cosmetic sectors. Its vast application is principally owing to its capabilities to protect the body from damages caused by hazardous molecules like free radicals and improve overall health. 

Furthermore, the growing demand for natural ingredients in cosmetics & personal care products is also surging the need for spirulina & augmenting the overall market expansion, further states the research report, “Global Spirulina Market Analysis, 2023.”

Growing Adoption of Natural Ingredients in Food & Beverages to Boost the Global Market

The Food & Beverage sector is the major end-user application of spirulina, i.e., expecting the largest share in the Global Spirulina Market during 2023-28. It owes mainly to the rising acceptance of spirulina as a food ingredient due to its excellent nutritional & bioactive properties, sustainable production, and versatile application in different types of food & beverages.

Besides, the accelerating demand for spirulina for food coloring backed by the mounting consumer awareness about the presence of natural colors instead of synthetic ones, coupled with numerous health benefits of this ingredient, is also fueling the overall market growth across the food & beverage sector.

China being the Largest Producer & Consumer of Spirulina to Drive the Market across Asia-Pacific

Asia-Pacific is expecting the fastest growth in the Spirulina Market through 2028, principally due to the massive production of Spirulina in countries like China, South Korea, etc., entwined with enormous consumption of this blue-green alga in China. 

Furthermore, the rapid expansion of the cosmetic & personal care sector is another aspect expected to play a crucial role in accelerating the regional market growth over the forecast years, reveals MarkNtel Advisors in their research report, "Global Spirulina Market Analysis, 2023."

Competitive Landscape

The leading players in the Global Spirulina Market include Algenol Biofuels Inc., Chr. Hansen Holding A/S., Cyanotech Corporation, Dongtai City Spirulina Bio-engineering Co., Fuqing King Dnarmsa Spirulina Co., Ltd., Fraken Biochem Co., Ltd., Naturex S.A., Now Foods, Parry Nutraceuticals Ltd., Prolgae Spirulina Supplies Pvt. Ltd., and Sensient Technologies Corporation.

Key Questions Answered in the Research Report:

1. What are the current & future trends in the Global Spirulina Market?
2. How has the industry been evolving in terms of geography & product adoption?
3. How has the competition been shaping across various countries, followed by their comparative factorial indexing?
4. What are the key growth drivers & challenges for the Global Spirulina Market?
5. What are the customer orientation, purchase behavior, & expectations from Spirulina manufacturers across various regions?

Market Segmentation:

1. By Type (Arthrospira Platensis, Arthrospira Maxima)
2. By Formation (Powder, Tablet, Liquid)
3. By Application (Food & Beverages (Bakery, Confectionery, Other Processed Foods), Dietary Supplements, Cosmetics & Personal Care, Agriculture)
4. By Region (North America, South America, Europe, Middle East & Africa, Asia-Pacific)
5. By Countries (The US, Canada, Mexico, Brazil, Argentina, Germany, The UK, France, Italy, Spain, Russia, Turkey, Saudi Arabia, South Africa, China, India, Japan, Australia)
6. By Companies (Algenol Biofuels Inc., Chr. Hansen Holding A/S., Cyanotech Corporation, Dongtai City Spirulina Bio-engineering Co., Fuqing King Dnarmsa Spirulina Co., Ltd., Fraken Biochem Co., Ltd., Naturex S.A., Now Foods, Parry Nutraceuticals Ltd., Prolgae Spirulina Supplies Pvt. Ltd., Sensient Technologies Corporation)