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The Global Spirulina Market size is expected to reach $651 Million by 2025, rising at a market growth of 10.6% CAGR during the forecast period

NEW YORK, July 15, 2019 /PRNewswire/ -- The Global Spirulina Market size is expected to reach $651 Million by 2025, rising at a market growth of 10.6% CAGR during the forecast period.

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Spirulina is multicellular, blue-green microalgae which grow naturally in the alkaline waters of lakes, ponds, and rivers in warm countries. These can be harvested and processed and they have a significantly high macro- and micronutrient content. Due to the adoption of spirulina as a protein supplement and as a human health food, the microalgae have gained significant popularity in the human health food industry and across the developing and under-developed countries, where there is a high prevalence of malnutrition. The microalgae can also be utilized as complementary dietary ingredients of feed for poultry and are largely being used as protein and vitamin supplements for fishes.

Factors such as the introduction of new varieties of natural food colors produced from spirulina, natural health benefits of spirulina superfood, and several government initiatives for facilitating the production of spirulina, are expected to boost the growth of the global spirulina market over the forecast period.

Based on Type, the market is segmented into Arthrospira Platensis and Arthrospira Maxima Based on Application, the market is segmented into Nutraceuticals, Cosmetics, Food and Beverages, Animal Feed and Other Applications. The nutraceuticals sector recorded a substantial market share and is anticipated to dominate the global spirulina market over the forecast period. This can be attributed to the growing concern for nutrition and health and an increasing preference for natural alternatives in comparison to traditional pharmaceutical products. Based on Drug Formulation, the market is segmented into Powder, Tablet & Capsule, Liquid and Granule & Gelling Agent. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Cyanotech Corporation, DIC Corporation, Chr. Hansen Holding A/S, Algenol, LLC, Prolgae Spirulina Supplies Pvt. Ltd., Sensient Technologies Corporation, DDW, Inc., GNC Holdings, Inc., NOW Foods, Inc. and Sunrise Nutrachem Group Co. Ltd.

Scope of the Study

Market Segmentation:

By Type

• Arthrospira Platensis

• Arthrospira Maxima

By Application

• Nutraceuticals

• Cosmetics

• Food and Beverages

• Animal Feed

• Other Applications

By Drug Formulation

• Powder

• Tablet & Capsule

• Liquid

• Granule & Gelling Agent

By Geography

North America

o US

o Canada

o Mexico

o Rest of North America

Europe

o Germany

o UK

o France

o Russia

o Spain

o Italy

o Rest of Europe

Asia Pacific

o China

o Japan

o India

o South Korea

o Singapore

o Malaysia

o Rest of Asia Pacific

• LAMEA

o Brazil

o Argentina

o UAE

o Saudi Arabia

o South Africa

o Nigeria

o Rest of LAMEA

Companies Profiled

• Cyanotech Corporation

• DIC Corporation

• Chr. Hansen Holding A/S

• Algenol, LLC

• Prolgae Spirulina Supplies Pvt. Ltd.

• Sensient Technologies Corporation

• DDW, Inc.

• GNC Holdings, Inc.

• NOW Foods, Inc.

• Sunrise Nutrachem Group Co. Ltd.

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