According to a recent study by FMI, the Spirulina Powder Market saw sales reach approximately $358 million in 2019. This surge in demand followed FDA approval for the use of spirulina in food and beverage products, prompting various companies to invest in research and development for innovative spirulina-based products.
According to a new study by FMI, sales of Spirulina Powder Market is expected to reach ~US$ 358 Million in 2019. After the approval from the FDA for use of spirulina in food & beverage products, the demand for spirulina increased. Multiple companies invested in research and development to launch unique and innovative products using spirulina.
Spirulina powder is utilised by the food and beverage, dietary supplement, pharmaceutical, livestock and aquaculture, cosmetic, and personal care industries. Several food and beverage products utilising spirulina powder have been released in the previous two years. Demand for the naturally occurring blue and green hues that spirulina may provide has grown dramatically during the past two years.
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- Demand for spirulina powder is growing rapidly as it is the super-food, which contains highest amount of protein found in any natural grown food. It also contains highest amount of vitamins, minerals and other essential nutrients, which makes it an ideal dietary supplement. Spirulina powder contains vitamin A, B, C, E, & K, and minerals such as magnesium, calcium, sodium, iron, phosphorus, zinc and manganese.
- Sales of Spirulina is increased in past three years due to a positive perception towards the super-food, which consists of enormous amount of nutritional contents. Around 4 gram (1 teaspoon) of Spirulina can give sufficient quantity of protein, vitamin and minerals, which is generally obtained from food consumed in a whole day.
Since the previous decade, the use of organic and natural formulations has steadily increased, and this trend is anticipated to last throughout the projected period. According to the USDA, more than 75% of supermarkets carried organic goods in 2013. Compared to regular spirulina powder, demand for organic spirulina powder is increasing.
The use of a spirulina-based natural colourant was allowed by the US FDA in 2013. Spirulina is being used by numerous businesses worldwide to make natural colourants including Blue, Red, Green, and Brown. Spirulina powder grew in popularity on the market for natural colourants as a result of ESPA’s ban on the use of synthetic colourants in food items in Europe.
Rising Use of Spirulina Powder in the Cosmetic & Personal Care Industry
Spirulina powder contains antioxidants and anti-inflammatory properties, which is witnessing a high growth in the cosmetic industry. Spirulina powder contains vitamins such as A, C & E in large quantities that are antioxidants and provide nourishment to the skin, due to which it is used in moisturizing and skin care creams.
Manufacturers have started using micro-algae in skin problems such as anti-aging, tanning, and pigmentation issues. Spirulina powder is used in anti-aging creams, skin whitening creams and pigmentation reducing products. Spirulina powder also has anti-cancer properties, which will boost the demand of its cosmetic products, as people prefer to take treatment which doesn’t require consumption of medicines.
Cost-Effectiveness
Despite the rise and fall of spirulina production globally, prices are maintained at an optimum level with a variance in prices of maximum 15% year on year. Multiple factors play an important role in identification of market prices such as spirulina powder production cost, processes used, labor cost, electricity and water cost, transportation cost and much more. Due to a subtle process by which manufacturers produce low processing cost, the Spirulina products such as spirulina powder are also found to be cost-effective and benchmark with its parent market prices. Various manufacturers are focused toward providing spirulina powder at an optimum price, owing to their high demand among consumers. Different companies have implemented integrated production approach to deliver cost-effective products.
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The global spirulina powder market is segmented in detail to cover every aspect of the market and present complete market intelligence to the reader.
By Nature
- Organic
- Convention
By Application
- Food & Beverage
- Dietary Supplements & Pharmaceuticals
- Animal & Aquaculture Feed
- Cosmetics & Personal Care
- Others
By Sales Channel
- Direct Sales
- Retail Sales
- Modern Trade
- Specialty Stores
- Pharma & Drug Stores
- Online Retail
- Other Retailing Formats
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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