The spirulina powder market valuation is US$ 472.67 million in 2023. As the demand for nutritious plant-based supplements surges, the spirulina powder market is anticipated to hold a valuation of US$ 777.18 million by 2033. The market is expected to register a CAGR of 6.4% over the forecast period from 2023 to 2033.
Since spirulina is a blue-green algae that is known to flourish in freshwater bodies, it is one of the most widely used solutions for vegetarian fitness enthusiasts worldwide. Its superfood reputation and strong anti-inflammatory properties have garnered a lot of interest in the realm of vegan fitness.
Due to the entry of nutraceutical companies, the market for spirulina powder is anticipated to expand over the next few years. Spirulina powder can help with malnutrition, food shortages, and other relevant problems that lead to food crises in impoverished countries. Because of these benefits, spirulina powder is being promoted by numerous government agencies in various initiatives.
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Spirulina powder, which has many medicinal properties as well, is mainly consumed by individuals who are on a weight-loss diet. The protein content along with other minerals and vitamins make spirulina powder a great substitute for chemical steroids and supplements. Spirulina powder can be easily obtained from leading health food stores, e-Commerce businesses, and specialty supplement shops.
Conventional spirulina powder is obtained from the artificial cultivation of spirulina in microclimatic conditions. This type of spirulina powder is relatively cheaper, easily available, and more edible as compared to its organic counterpart. Conventional-type powder dominates the global market with a share of 59.1%.
“There is little to no awareness about the health benefits of spirulina powder. Well-established sports nutrition brands can benefit a lot if they collaborate with world-renowned athletes and fitness figures for the endorsement of spirulina powder”, opines Nandini Roy Choudhury, Client Partner at Future Market Insights.
Key Takeaways from the Spirulina Powder Market Report
- Owing to its emerging vegan trend, the United States showcased a 26.8% share of the spirulina powder industry
- China has a 9.7% share of the global spirulina market due to its association with the use of spirulina since ancient times.
- Based on application type, dietary supplements and pharmaceuticals dominate the spirulina powder industry with a 72.9% global revenue share.
- Emerging brands have come up with many innovative food items that have spirulina powder as their main ingredient, like smoothies, ready-to-serve beverages, and everyday snacks.
Recent Developments in the Spirulina Market
- To provide its patients with essential nutrients and vitamins, Mumbai’s Group of Tuberculosis Hospitals recently cultivated spirulina on its premises.
- The National Aeronautics and Space Administration (NASA) is all set to incorporate spirulina powder into the diets of its astronauts.
- GNT Group came up with Exberry Shade Bright Green, a spirulina-infused, green powder that has applications in bakery mixes and seasoning products.
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Key Market Players
- Clos Sainte Aurore
- Spirulina Viva
- SPIFORM
- Spirulina La Capitelle
- Aurospirul
- Far East Microalgae Industries Co., Ltd
- Fuqing King Dnarmsa Spirulina Co. Ltd.
- DIC Corporation
- Cyanotech Corporation
- C.B.N. Bio-engineering Co., Ltd
- Yunnan Green A Biological Project Co., Ltd
- Jiangshan Comp Spirulina Co. Ltd
- Inner Mongolia Rejuve Biotech Co., Ltd.
- Zhejiang Binmei Biotechnology Co., Ltd.
- Bluetec Naturals Co., Ltd.
- Taiwan Chlorella Manufacturing Company
- Roquette Klötze GmbH & Co. KG
Market Segmentation
By Nature:
- Organic
- Conventional
By Application:
- Food & Beverage
- Dietary Supplements and Pharmaceuticals
- Animal & Aquaculture Feed Cosmetics and Personal Care
- Others
By Sales:
- Channel
- Direct Sales
- Retail Sales
- Modern Trade
- Specialty Stores
- Pharma & Drug Stores
- Online Retail
- Other Retailing Formats
By Region:
- North America
- Europe
- Latin America
- Asia Pacific
- Middle East and Africa
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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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