The global market size of Spirulina is estimated at US$ 386.75 billion in 2019 and is projected to reach US$ 949.92 billion at CAGR 10.5 per cent over the forecast period. The global market research report was aggregated on the basis of different attributes such as global market size, shares, types, distribution channels, applications, end-users, and various sub-sectors of the market. This informative report discusses the latest trends, key developments in the industry and technological advancements in technologies that are driving the growth of the global spirulina market. A number of proven research methodologies, such as primary and secondary research, have been used to collect and analyse details. The report also includes different opinions and insights on the global spirulina market from several C-level professionals. Different top-level companies have been profiled to get effective insights into the global spirulina market. Additionally, it offers detailed elaboration on various policies, rules, and regulations initiated by governments to set standards for global businesses. A descriptive overview of the global competitors is also presented in the report which helps to get a clear idea of the degree of competition at the domestic and global levels. Furthermore, this innovative market research report highlights several primary trends that are affecting the growth of the global spirulina market.
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Following factors are encouraging or driving the global spirulina market:
Some important factors, such as the growing demand for naturally derived food colouring agents, offer lucrative opportunities for global companies due to the robust growth of the food processing industry worldwide. In addition, increasing demand for spirulina powder among vegetarian consumers is a major driver of market growth. In addition, rising trends in health & wellness and dietary supplements and increasing demand for natural food colours, rising malnutrition and an increasing number of vegetarians are boosting market growth.
Driving Factors:
- Spirulina is used as a protein supplement and as human wellbeing food, it has increased impressive popularity in the human wellbeing food industry and many creating and immature nations. hence propelling the growth of Spirulina Market .
- Rise in the interest for cyanobacteria because of their commitment in weight decrease and expanding number of gyms and wellness focuses are relied upon to help boosting the spirulina market.
- Medical advantages of cyanobacteria have helped them to discover smoothies, juices, dishes, mixed green dishes and breakfast dinners. The market for skin and hair care requests spirulina powder as a consideration for various medicines, including silver hair, wrinkles, maturation, baldness and sensitivities. Due to these additional advantages, spirulina increased demand for the Spirulina market.
- Demand for cyanobacteria has increased due to contribution in weight reduction and increasing number of health clubs and fitness centers has led to boost growth of the spirulina market.
- Spirulina produce new varieties of natural food colors, as well as government taken initiatives to the production of spirulina. The governments started promoting the production of spirulina and create a decent income source for the rural population as well as build strong gateway for the development of this superfood are rising demand of Spirulina market.
Regional Insights:
- Spirulina has more health benefits than before. Increase awareness of the health benefits of spirulina as well as the different natural colours produced by spirulina among all customers. In India and South Africa, there is more demand for spirulina because the government of these countries promotes the production of spirulina by considering its health benefits. That fuel the growth of the spirulina market in India and South Africa.
- North America region has more agents who increasingly demand for naturally derived food. hence North America hold the leading contributor of global spirulina market.
- Asia-Pacific offers various opportunities for the market players because of strong development of the food handling industry in the area. Furthermore, by vegetarian consumers increasing demand for spirulina powder is another factor which fuel the growth of this market.
The Leading Companies Functioning In the Spirulina Market:
- Cyanotech Corporation
- DIC Corporation
- Parry Neutraceuticals
- DDW Inc
- Naturex S.A
- Algenol Biofuels Inc
- Prolgae
- Sensient Technologies Corporation
- Algatec
- Hansen Holding A/S
- Dongtai City Spirulina Bio-engineering Co., Ltd
This report answers the following key questions:
- What is the spirulina market?
- Which major segments have accounted for the largest share of the spirulina market?
- Which end-users and application segments boost market demand?
- What is the impact of Covid-19 on the global market for spirulina?
- What are the challenges facing global spirulina market vendors?
- What are the leading companies in the global spirulina market?
- What is the role of digital platforms to boost market demand?
- What is the contribution of the government sector to fuel spirulina market growth?
- Which industries are demanding the market for spirulina?
- What will be the global market growth opportunities in the global spirulina market?
- Which factors are encouraging and restraining the market growth?
- What are the latest technological advancements and innovations in the spirulina market?
- What were the global market size and market shares in the historical periods?
- Why the global spirulina market is booming at a significant growth rate?
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