Spirulina Market, By Form, By Composition, By End Use Industry, By Geography

Description

The global spirulina market is estimated to be valued at USD 484.7 Mn in 2024 and is expected to reach USD 808.4 Mn by 2031, growing at a compound annual growth rate (CAGR) of 7.6% from 2024 to 2031.

Report Coverage		Report Details
Base Year:	2023	Market Size in 2024:	US$ 484.7 Mn
Historical Data for:	2019 To 2023	Forecast Period:	2024 To 2031
Forecast Period 2024 to 2031 CAGR:	7.60%	2031 Value Projection:	US$ 808.4 Mn

Figure. Spirulina Market Share (%), By Region, 2024

Spirulina is a cyanobacterium that is rich in protein, vitamins, minerals, and phytonutrients. It is cultivated worldwide and used as a dietary supplement. Spirulina contains antioxidants that protect cells from damage and supports immunity. It also has anti-inflammatory and cholesterol-lowering properties. The global spirulina market is growing due to increasing consumer awareness about the health benefits of spirulina and the rising demand for plant-based protein sources.

Market Dynamics:

The global spirulina market is expected to experience strong growth over the next decade due to various drivers, restraints, and opportunities. The major market driver is the growing health and wellness trend which has increased demand for super foods like spirulina that contain abundant nutrients. Rising obesity and cases of chronic diseases are also prompting more people to consume spirulina for its medicinal properties. However, the high production cost and lack of awareness in some regions are hindering market expansion. On the other side, new product launches with varied flavors and convenient packaging are opening up opportunities. Moreover, spirulina is gaining popularity as a natural food colorant and feed additive, broadening its applications.

Key Features of the Study:

This report provides an in-depth analysis of the global spirulina market, and provides market size (US$ Mn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year
It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players in the global spirulina market
Key companies covered as a part of this study include Cyanotech Corporation, Sensient Technologies Corporation, NB Laboratories Pvt Ltd, DIC Corporation, Fuqing King Dnarmsa Spirulina Co. Ltd, Evergreen Agro Creations, Indian Agri Farm, Alpspure Lifesciences Pvt. Ltd., Ideal Natural Extract, Lifevision Healthcare, Grenera Nutrients Private Limited, and Far East Bio-Tec Co., Ltd.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The global spirulina market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global spirulina market

Detailed Segmentation-

By Form:
- Powder
- Tablet/Capsules
- Liquid
- Granules
By Composition:
- Protein
- Carbohydrates
- Minerals
- Lipids
- Others
By End Use Industry:
- Food & Beverages
- Meat & Poultry
- Bakery
- Confectionary
- Nutraceuticals
- Cosmetics and Personal Care
- Feed
- Pharmaceuticals
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Company Profiles:
- Cyanotech Corporation
- Sensient Technologies Corporation
- NB Laboratories Pvt Ltd
- DIC Corporation
- Fuqing King Dnarmsa Spirulina Co. Ltd
- Evergreen Agro Creations
- Indian Agri Farm
- Alpspure Lifesciences Pvt. Ltd.
- Ideal Natural Extract
- Lifevision Healthcare
- Grenera Nutrients Private Limited
- Far East Bio-Tec Co., Ltd.

Product Code: CMI972

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snippet, By Form
- Market Snippet, By Composition
- Market Snippet, By End Use Industry
- Market Snippet, By Region
Coherent Opportunity Map (COM)

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
- Restraints
- PEST Analysis
- PORTER's Five Forces Analysis
- Market Opportunities
- Regulatory Scenario
- Key Developments
- Industry Trend

4. Global Spirulina Market - Impact of Coronavirus (COVID-19) Pandemic

Overview
Factors Affecting the Global Spirulina Market - COVID-19
Impact Analysis

5. Global Spirulina Market, By Form, 2019-2031 (US$ Mn)

Introduction
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
Powder
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Tablet/Capsules
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Liquid
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Granules
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends

6. Global Spirulina Market, By Composition, 2019-2031 (US$ Mn)

Introduction
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
Protein
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Carbohydrates
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Minerals
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Lipids
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Others
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends

7. Global Spirulina Market, By End Use Industry, 2019-2031 (US$ Mn)

Introduction
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
Food & Beverages
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Sub Segment Trends
Meat & Poultry
Bakery
Confectionary
Nutraceuticals
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Cosmetics and Personal Care
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Feed
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Pharmaceuticals
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Others
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends

8. Global Spirulina Market, By Region, 2019-2031 (US$ MN)

Introduction
- Market Share Analysis, By Region, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020 - 2031
North America
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020 - 2031
- Market Size and Forecast, By Form, 2019- 2031 (US$ Mn)
- Market Size and Forecast, By Composition, 2019- 2031 (US$ Mn)
- Market Size and Forecast, By End Use Industry, 2019- 2031 (US$ Mn)
- Countries
  - U.S.
  - Canada
  - Latin America
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020 - 2031
- Market Size and Forecast, By Form, 2019- 2031 (US$ Mn)
- Market Size and Forecast, By Composition, 2019- 2031 (US$ Mn)
- Market Size and Forecast, By End Use Industry, 2019- 2031 (US$ Mn)
- Countries
  - Brazil
  - Argentina
  - Mexico
  - Rest of Latin America
  - Europe
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020 - 2031
- Market Size and Forecast, By Form, 2019- 2031 (US$ Mn)
- Market Size and Forecast, By Composition, 2019- 2031 (US$ Mn)
- Market Size and Forecast, By End Use Industry, 2019- 2031 (US$ Mn)
- Countries
  - U.K.
  - Germany
  - Italy
  - France
  - Spain
  - Russia
  - Rest of Europe
  - Asia Pacific
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020 - 2031
- Market Size and Forecast, By Form, 2019- 2031 (US$ Mn)
- Market Size and Forecast, By Composition, 2019- 2031 (US$ Mn)
- Market Size and Forecast, By End Use Industry, 2019- 2031 (US$ Mn)
- Countries
  - China
  - India
  - Japan
  - ASEAN
  - Australia
  - South Korea
  - Rest of Asia Pacific
  - Middle East & Africa
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Country, 2020 - 2031
- Market Size and Forecast, By Form, 2019- 2031 (US$ Mn)
- Market Size and Forecast, By Composition, 2019- 2031 (US$ Mn)
- Market Size and Forecast, By End Use Industry, 2019- 2031 (US$ Mn)
- Sub-regions/Countries
  - GCC Countries
  - Israel
  - Rest of Middle East & Africa

9. Competitive Landscape

Heat Map Analysis
Market Share Analysis (3x3 Matrix)
Company Profiles
- Cyanotech Corporation
  - Company Overview
  - Form Portfolio
  - Recent Developments/Updates
- Sensient Technologies Corporation
  - Company Overview
  - Form Portfolio
  - Recent Developments/Updates
- NB Laboratories Pvt Ltd
  - Company Overview
  - Form Portfolio
  - Recent Developments/Updates
- DIC Corporation
  - Company Overview
  - Form Portfolio
  - Recent Developments/Updates
- Fuqing King Dnarmsa Spirulina Co. Ltd
- Evergreen Agro Creations
- Indian Agri Farm
- Alpspure Lifesciences Pvt. Ltd.
- Ideal Natural Extract
- Lifevision Healthcare
- Grenera Nutrients Private Limited
- Far East Bio-Tec Co., Ltd.

10. Analyst Recommendation

Wheel of Fortune
Analyst View
Coherent Opportunity Map

11. Section

References
Research Methodology
About Us and Sales Contact
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