Spirulina Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031

Description

The spirulina market is set to witness significant growth, expanding from an estimated US$625 million in 2024 to US$980 million by 2031, with a compound annual growth rate (CAGR) of 6.6% during the forecast period. This surge reflects a broader trend towards health and wellness, as consumers increasingly prioritize sustainable and nutrient-rich food sources.

Driven by rising health awareness and the demand for sustainable protein sources, the spirulina market is experiencing accelerated adoption. Health-conscious consumers are turning to spirulina for its high protein content and nutritional benefits, making it a key ingredient in dietary supplements, functional foods, and cosmetics. As a nutrient-dense cyanobacterium, spirulina is recognized for its rich protein, vitamins, and minerals, commonly utilized in health supplements and emerging "superfood" products.

Key Market Drivers

1.Rising Health Consciousness: Health and wellness trends continue to drive the market, with consumers seeking natural, nutrient-dense foods that offer immunity support and overall health benefits. Spirulina's high protein, vitamin, and mineral content positions it as a staple for health-conscious individuals, athletes, and those following plant-based diets.

2.Demand for Sustainable Protein Sources: As global populations grow, the need for sustainable protein alternatives becomes crucial. Spirulina serves as an environmentally friendly protein option, requiring minimal land and water compared to traditional livestock. This trend aligns with consumer shifts toward plant-based diets and environmentally responsible choices.

3.Product Innovations: The market is benefiting from continuous innovations in product formulations. Manufacturers are integrating spirulina into various sectors, including functional foods, cosmetics, and dietary supplements, enhancing its appeal and accessibility across demographics.

Business Opportunities

1.Expansion into Functional Foods and Beverages: The shift towards health-focused foods presents a key growth area. Spirulina is being incorporated into a diverse range of products like energy bars, smoothies, and fortified snacks, catering to consumers seeking convenient, nutrient-dense options. Collaborations between food manufacturers and spirulina producers are expected to strengthen the ingredient's position in mainstream health diets.

2.Growth in Natural and Organic Cosmetics: Spirulina's antioxidant and anti-inflammatory properties make it a valuable ingredient in clean beauty products. The demand for natural, synthetic-free skincare is rising, providing market players with opportunities to expand their offerings in eco-friendly and organic cosmetics.

3.Regional Growth Opportunities: Europe is projected to be a prominent market, reaching a CAGR of 14.56% due to a growing preference for natural colorants and preventive health products. In North America, the U.S. and Canada lead the demand for spirulina, driven by consumer preferences for clean-label and natural ingredients.

Regional Market Analysis

1.Europe: Expected to achieve a remarkable CAGR of 14.56% from 2024 to 2031, Europe's market growth is largely due to the rising adoption of natural colorants, a shift towards preventive health, and increased demand for functional foods. Notably, phycocyanin, a compound derived from spirulina, is seeing substantial investment from major companies, further positioning Europe as a market leader.

2.North America: Spirulina's popularity is rising in the U.S. and Canada, where natural food colorings and clean-label ingredients are highly sought after. The trend is reflected in the use of spirulina across various applications, from bakery and dairy to confectionery products. This market is expected to grow as manufacturers increasingly incorporate spirulina into a wider range of health-oriented products.

Segment Insights

1.By Form: The powder segment is anticipated to dominate the global spirulina market, representing 46.32% of market share by 2024. Powdered spirulina offers extended shelf life, convenience, and versatility in food and beverage applications. Its popularity is also driven by the ability to store and transport powdered forms more efficiently than liquid.

2.By End Use: The food and beverages sector is expected to hold a leading position, with a projected 39.6% market share by 2024. Spirulina's versatile nutritional profile allows for widespread applications in products such as juices, yogurts, granola bars, and snacks designed for health-conscious consumers.

Competitive Analysis

The spirulina market is marked by high competition, with several players vying for prominence through innovation and product diversification. Key industry players 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
Far East Bio-Tec Co., Ltd.

Notable developments in the market include Nutrex Hawaii's launch of Hawaiian Spirulina Organic Powder and Spirulina Softgels, emphasizing purity and eco-friendly practices. Earthrise Nutritionals introduced Spirulina Protein Bars to meet the demand for convenient, healthy snacks. These companies focus on sustainable production practices, innovative applications, and expansion into diverse product categories.

Challenges and Market Constraints

1.Quality Control and Contamination: Spirulina production must adhere to strict quality control standards to prevent contamination. Heavy metals, toxins, and harmful bacteria can be risks in cultivation, leading to potential consumer hesitancy. Manufacturers are investing in rigorous testing to ensure product safety, which, however, may increase costs and affect price-sensitive segments.

2.Limited Consumer Awareness: Spirulina, while popular in niche markets, is still relatively unknown to broader audiences. Misconceptions regarding its taste, usability, and health benefits can be barriers. Effective educational campaigns are necessary to expand consumer awareness and drive demand.

Spirulina Market Segmentation

By Form

Powder
Tablet/Capsules
Liquid
Granules

By End Use

Food & Beverages
Nutraceuticals
Cosmetics and Personal Care
Feed
Pharmaceuticals
Others

By Region

North America
Latin America
Europe
Asia Pacific
Middle East & Africa
The Middle East & Africa

1. Executive Summary

1.1. Global Spirulina Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value, 2024
1.5. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. COVID-19 Impact Analysis
- 2.5.1. Supply
- 2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
- 2.7.1. World Economic Projections
2.8. PESTLE Analysis

3. Global Spirulina Market Outlook, 2019 - 2031

3.1. Global Spirulina Market Outlook, by Form, Value (US$ Mn), 2019 - 2031
- 3.1.1. Key Highlights
  - 3.1.1.1. Powder
  - 3.1.1.2. Tablet/Capsules
  - 3.1.1.3. Liquid
  - 3.1.1.4. Granules
3.2. Global Spirulina Market Outlook, by End User, Value (US$ Mn), 2019 - 2031
- 3.2.1. Key Highlights
  - 3.2.1.1. Food & Beverages
  - 3.2.1.2. Nutraceuticals
  - 3.2.1.3. Cosmetics and Personal Care
  - 3.2.1.4. Feed
  - 3.2.1.5. Pharmaceuticals
  - 3.2.1.6. Others
3.3. Global Spirulina Market Outlook, by Region, Value (US$ Mn), 2019 - 2031
- 3.3.1. Key Highlights
  - 3.3.1.1. North America
  - 3.3.1.2. Europe
  - 3.3.1.3. Asia Pacific
  - 3.3.1.4. Latin America
  - 3.3.1.5. Middle East & Africa

4. North America Spirulina Market Outlook, 2019 - 2031

4.1. North America Spirulina Market Outlook, by Form, Value (US$ Mn), 2019 - 2031
- 4.1.1. Key Highlights
  - 4.1.1.1. Powder
  - 4.1.1.2. Tablet/Capsules
  - 4.1.1.3. Liquid
  - 4.1.1.4. Granules
4.2. North America Spirulina Market Outlook, by End User, Value (US$ Mn), 2019 - 2031
- 4.2.1. Key Highlights
  - 4.2.1.1. Food & Beverages
  - 4.2.1.2. Nutraceuticals
  - 4.2.1.3. Cosmetics and Personal Care
  - 4.2.1.4. Feed
  - 4.2.1.5. Pharmaceuticals
  - 4.2.1.6. Others
- 4.2.2. BPS Analysis/Market Attractiveness Analysis
4.3. North America Spirulina Market Outlook, by Country, Value (US$ Mn), 2019 - 2031
- 4.3.1. Key Highlights
  - 4.3.1.1. U.S. Spirulina Market by Form, Value (US$ Mn), 2019 - 2031
  - 4.3.1.2. U.S. Spirulina Market by End User, Value (US$ Mn), 2019 - 2031
  - 4.3.1.3. Canada Spirulina Market by Form, Value (US$ Mn), 2019 - 2031
  - 4.3.1.4. Canada Spirulina Market by End User, Value (US$ Mn), 2019 - 2031
- 4.3.2. BPS Analysis/Market Attractiveness Analysis

5. Europe Spirulina Market Outlook, 2019 - 2031

5.1. Europe Spirulina Market Outlook, by Form, Value (US$ Mn), 2019 - 2031
- 5.1.1. Key Highlights
  - 5.1.1.1. Powder
  - 5.1.1.2. Tablet/Capsules
  - 5.1.1.3. Liquid
  - 5.1.1.4. Granules
5.2. Europe Spirulina Market Outlook, by End User, Value (US$ Mn), 2019 - 2031
- 5.2.1. Key Highlights
  - 5.2.1.1. Food & Beverages
  - 5.2.1.2. Nutraceuticals
  - 5.2.1.3. Cosmetics and Personal Care
  - 5.2.1.4. Feed
  - 5.2.1.5. Pharmaceuticals
  - 5.2.1.6. Others
- 5.2.2. BPS Analysis/Market Attractiveness Analysis
5.3. Europe Spirulina Market Outlook, by Country, Value (US$ Mn), 2019 - 2031
- 5.3.1. Key Highlights
  - 5.3.1.1. Germany Spirulina Market by Form, Value (US$ Mn), 2019 - 2031
  - 5.3.1.2. Germany Spirulina Market by End User, Value (US$ Mn), 2019 - 2031
  - 5.3.1.3. U.K. Spirulina Market by Form, Value (US$ Mn), 2019 - 2031
  - 5.3.1.4. U.K. Spirulina Market by End User, Value (US$ Mn), 2019 - 2031
  - 5.3.1.5. France Spirulina Market by Form, Value (US$ Mn), 2019 - 2031
  - 5.3.1.6. France Spirulina Market by End User, Value (US$ Mn), 2019 - 2031
  - 5.3.1.7. Italy Spirulina Market by Form, Value (US$ Mn), 2019 - 2031
  - 5.3.1.8. Italy Spirulina Market by End User, Value (US$ Mn), 2019 - 2031
  - 5.3.1.9. Turkey Spirulina Market by Form, Value (US$ Mn), 2019 - 2031
  - 5.3.1.10. Turkey Spirulina Market by End User, Value (US$ Mn), 2019 - 2031
  - 5.3.1.11. Russia Spirulina Market by Form, Value (US$ Mn), 2019 - 2031
  - 5.3.1.12. Russia Spirulina Market by End User, Value (US$ Mn), 2019 - 2031
  - 5.3.1.13. Rest of Europe Spirulina Market by Form, Value (US$ Mn), 2019 - 2031
  - 5.3.1.14. Rest of Europe Spirulina Market by End User, Value (US$ Mn), 2019 - 2031
- 5.3.2. BPS Analysis/Market Attractiveness Analysis

6. Asia Pacific Spirulina Market Outlook, 2019 - 2031

6.1. Asia Pacific Spirulina Market Outlook, by Form, Value (US$ Mn), 2019 - 2031
- 6.1.1. Key Highlights
  - 6.1.1.1. Powder
  - 6.1.1.2. Tablet/Capsules
  - 6.1.1.3. Liquid
  - 6.1.1.4. Granules
6.2. Asia Pacific Spirulina Market Outlook, by End User, Value (US$ Mn), 2019 - 2031
- 6.2.1. Key Highlights
  - 6.2.1.1. Food & Beverages
  - 6.2.1.2. Nutraceuticals
  - 6.2.1.3. Cosmetics and Personal Care
  - 6.2.1.4. Feed
  - 6.2.1.5. Pharmaceuticals
  - 6.2.1.6. Others
- 6.2.2. Others BPS Analysis/Market Attractiveness Analysis
6.3. Asia Pacific Spirulina Market Outlook, by Country, Value (US$ Mn), 2019 - 2031
- 6.3.1. Key Highlights
  - 6.3.1.1. China Spirulina Market by Form, Value (US$ Mn), 2019 - 2031
  - 6.3.1.2. China Spirulina Market by End User, Value (US$ Mn), 2019 - 2031
  - 6.3.1.3. Japan Spirulina Market by Form, Value (US$ Mn), 2019 - 2031
  - 6.3.1.4. Japan Spirulina Market by End User, Value (US$ Mn), 2019 - 2031
  - 6.3.1.5. South Korea Spirulina Market by Form, Value (US$ Mn), 2019 - 2031
  - 6.3.1.6. South Korea Spirulina Market by End User, Value (US$ Mn), 2019 - 2031
  - 6.3.1.7. India Spirulina Market by Form, Value (US$ Mn), 2019 - 2031
  - 6.3.1.8. India Spirulina Market by End User, Value (US$ Mn), 2019 - 2031
  - 6.3.1.9. Southeast Asia Spirulina Market by Form, Value (US$ Mn), 2019 - 2031
  - 6.3.1.10. Southeast Asia Spirulina Market by End User, Value (US$ Mn), 2019 - 2031
  - 6.3.1.11. Rest of Asia Pacific Spirulina Market by Form, Value (US$ Mn), 2019 - 2031
  - 6.3.1.12. Rest of Asia Pacific Spirulina Market by End User, Value (US$ Mn), 2019 - 2031
- 6.3.2. BPS Analysis/Market Attractiveness Analysis

7. Latin America Spirulina Market Outlook, 2019 - 2031

7.1. Latin America Spirulina Market Outlook, by Form, Value (US$ Mn), 2019 - 2031
- 7.1.1. Key Highlights
  - 7.1.1.1. Powder
  - 7.1.1.2. Tablet/Capsules
  - 7.1.1.3. Liquid
  - 7.1.1.4. Granules
7.2. Latin America Spirulina Market Outlook, by End User, Value (US$ Mn), 2019 - 2031
- 7.2.1. Key Highlights
  - 7.2.1.1. Food & Beverages
  - 7.2.1.2. Nutraceuticals
  - 7.2.1.3. Cosmetics and Personal Care
  - 7.2.1.4. Feed
  - 7.2.1.5. Pharmaceuticals
  - 7.2.1.6. Others
- 7.2.2. BPS Analysis/Market Attractiveness Analysis
7.3. Latin America Spirulina Market Outlook, by Country, Value (US$ Mn), 2019 - 2031
- 7.3.1. Key Highlights
  - 7.3.1.1. Brazil Spirulina Market by Form, Value (US$ Mn), 2019 - 2031
  - 7.3.1.2. Brazil Spirulina Market by End User, Value (US$ Mn), 2019 - 2031
  - 7.3.1.3. Mexico Spirulina Market by Form, Value (US$ Mn), 2019 - 2031
  - 7.3.1.4. Mexico Spirulina Market by End User, Value (US$ Mn), 2019 - 2031
  - 7.3.1.5. Argentina Spirulina Market by Form, Value (US$ Mn), 2019 - 2031
  - 7.3.1.6. Argentina Spirulina Market by End User, Value (US$ Mn), 2019 - 2031
  - 7.3.1.7. Rest of Latin America Spirulina Market by Form, Value (US$ Mn), 2019 - 2031
  - 7.3.1.8. Rest of Latin America Spirulina Market by End User, Value (US$ Mn), 2019 - 2031
- 7.3.2. BPS Analysis/Market Attractiveness Analysis

8. Middle East & Africa Spirulina Market Outlook, 2019 - 2031

8.1. Middle East & Africa Spirulina Market Outlook, by Form, Value (US$ Mn), 2019 - 2031
- 8.1.1. Key Highlights
  - 8.1.1.1. Powder
  - 8.1.1.2. Tablet/Capsules
  - 8.1.1.3. Liquid
  - 8.1.1.4. Granules
8.2. Middle East & Africa Spirulina Market Outlook, by End User, Value (US$ Mn), 2019 - 2031
- 8.2.1. Key Highlights
  - 8.2.1.1. Food & Beverages
  - 8.2.1.2. Nutraceuticals
  - 8.2.1.3. Cosmetics and Personal Care
  - 8.2.1.4. Feed
  - 8.2.1.5. Pharmaceuticals
  - 8.2.1.6. Others
- 8.2.2. BPS Analysis/Market Attractiveness Analysis
8.3. Middle East & Africa Spirulina Market Outlook, by Country, Value (US$ Mn), 2019 - 2031
- 8.3.1. Key Highlights
  - 8.3.1.1. GCC Spirulina Market by Form, Value (US$ Mn), 2019 - 2031
  - 8.3.1.2. GCC Spirulina Market by End User, Value (US$ Mn), 2019 - 2031
  - 8.3.1.3. South Africa Spirulina Market by Form, Value (US$ Mn), 2019 - 2031
  - 8.3.1.4. South Africa Spirulina Market by End User, Value (US$ Mn), 2019 - 2031
  - 8.3.1.5. Egypt Spirulina Market by Form, Value (US$ Mn), 2019 - 2031
  - 8.3.1.6. Egypt Spirulina Market by End User, Value (US$ Mn), 2019 - 2031
  - 8.3.1.7. Nigeria Spirulina Market by Form, Value (US$ Mn), 2019 - 2031
  - 8.3.1.8. Nigeria Spirulina Market by End User, Value (US$ Mn), 2019 - 2031
  - 8.3.1.9. Rest of Middle East & Africa Spirulina Market by Form, Value (US$ Mn), 2019 - 2031
  - 8.3.1.10. Rest of Middle East & Africa Spirulina Market by End User, Value (US$ Mn), 2019 - 2031
- 8.3.2. BPS Analysis/Market Attractiveness Analysis

9. Competitive Landscape

9.1. Product Type vs by End User Heatmap
9.2. Company Market Share Analysis, 2022
9.3. Competitive Dashboard
9.4. Company Profiles
- 9.4.1. Becton, Dickinson and Company
  - 9.4.1.1. Company Overview
  - 9.4.1.2. Product Portfolio
  - 9.4.1.3. Financial Overview
  - 9.4.1.4. Business Strategies and Development
- 9.4.2. Cyanotech Corporation
  - 9.4.2.1. Company Overview
  - 9.4.2.2. Product Portfolio
  - 9.4.2.3. Financial Overview
  - 9.4.2.4. Business Strategies and Development
- 9.4.3. Sensient Technologies Corporation
  - 9.4.3.1. Company Overview
  - 9.4.3.2. Product Portfolio
  - 9.4.3.3. Financial Overview
  - 9.4.3.4. Business Strategies and Development
- 9.4.4. NB Laboratories Pvt Ltd
  - 9.4.4.1. Company Overview
  - 9.4.4.2. Product Portfolio
  - 9.4.4.3. Financial Overview
  - 9.4.4.4. Business Strategies and Development
- 9.4.5. DIC Corporation
  - 9.4.5.1. Company Overview
  - 9.4.5.2. Product Portfolio
  - 9.4.5.3. Financial Overview
  - 9.4.5.4. Business Strategies and Development
- 9.4.6. Fuqing King Dnarmsa Spirulina Co. Ltd
  - 9.4.6.1. Company Overview
  - 9.4.6.2. Product Portfolio
  - 9.4.6.3. Financial Overview
  - 9.4.6.4. Business Strategies and Development
- 9.4.7. Evergreen Agro Creations
  - 9.4.7.1. Company Overview
  - 9.4.7.2. Product Portfolio
  - 9.4.7.3. Financial Overview
  - 9.4.7.4. Business Strategies and Development
- 9.4.8. Indian Agri Farm
  - 9.4.8.1. Company Overview
  - 9.4.8.2. Product Portfolio
  - 9.4.8.3. Financial Overview
  - 9.4.8.4. Business Strategies and Development
- 9.4.9. Alpspure Lifesciences Pvt. Ltd.
  - 9.4.9.1. Company Overview
  - 9.4.9.2. Product Portfolio
  - 9.4.9.3. Financial Overview
  - 9.4.9.4. Business Strategies and Development
- 9.4.10. Ideal Natural Extract
  - 9.4.10.1. Company Overview
  - 9.4.10.2. Product Portfolio
  - 9.4.10.3. Financial Overview
  - 9.4.10.4. Business Strategies and Development
- 9.4.11. Lifevision Healthcare
  - 9.4.11.1. Company Overview
  - 9.4.11.2. Product Portfolio
  - 9.4.11.3. Financial Overview
  - 9.4.11.4. Business Strategies and Development
- 9.4.12. Grenera Nutrients Private Limited
  - 9.4.12.1. Company Overview
  - 9.4.12.2. Product Portfolio
  - 9.4.12.3. Financial Overview
  - 9.4.12.4. Business Strategies and Development
- 9.4.13. Far East Bio-Tec Co., Ltd.
  - 9.4.13.1. Company Overview
  - 9.4.13.2. Product Portfolio
  - 9.4.13.3. Financial Overview
  - 9.4.13.4. Business Strategies and Development

10. Appendix

10.1. Research Methodology
10.2. Report Assumptions
10.3. Acronyms and Abbreviations