The ‘Global Organic Spirulina Market Price, Size, Share, Trends, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global organic spirulina market, assessing the market on the basis of its segments like forms, end uses, sales channels, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.
Organic Spirulina Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): Around USD 315 Million
• Forecast CAGR (2023-2028): 7.20%
• Forecast Market Size (2028): Nearly USD 476 Million
A major factor driving the global organic spirulina market is the growing health consciousness among consumers. Due to its anti-inflammatory and antioxidant properties, organic spirulina can be consumed as a supplement due to its multiple health benefits such as reducing the cholesterol levels, and improving immunity. Moreover, it boosts the formation of red blood cells, fuelling its demand among individuals suffering from low haemoglobin.
The rising popularity of powder-based organic spirulina due to its easy solubility is another key factor in the market. Consumers usually intake powdered organic spirulina with liquids such as water, tea, and coffee due to its excellent solubility. Moreover, it can also be incorporated into recipes for smoothies and pancakes to enhance their nutritional profiles. Liquid organic spirulina is also gaining prominence as it provides concentrated probiotic, which contains minerals and enzymes that are good for health.
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Nutraceuticals occupy a significant share of the organic spirulina market as the product provides a distinct blend of antioxidants, proteins, vitamins, minerals, and fatty acids and can regulate blood sugar levels and cholesterol. Furthermore, the rising demand for organic spirulina as a superfood in the food and beverages sector also promotes the market growth.
Organic Spirulina Industry Definition and Major Segments
Spirulina is a type of blue-green microalgae which is referred to as a superfood due to its antioxidant and nutritional properties. It is rich in essential nutrients, including calcium, magnesium, and protein, among others. Furthermore, organic spirulina is produced without the addition of any preservatives or chemicals and can be consumed as a supplement.
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On the basis of form, the market is classified into:
• Powder
• Tablets and Capsules
• Liquid
• Others
Based on end use, the organic spirulina market is categorised into:
• Nutraceuticals
• Food and Beverage Industry
• Animal Feed
• Cosmetics
• Others
On the basis of sales channel, the market is divided into:
• Direct Sales
• Retail Sales
Based on region, the market is divided into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Organic Spirulina Market Trends
A key trend propelling the growth of the global organic spirulina market is the presence of antioxidant phycocyanin in the product, which inhibits oxidative damage. Its antioxidant property also reduces chronic inflammation, which can eventually lead to several diseases and conditions such as heart disease and even cancer.
Increased investments by governments in the aquaculture sector are also expected to promote the production of organic spirulina. These investments have facilitated technological advancements such as the development of machines that can easily cultivate spirulina and facilitate easy extraction of spirulina. The rise in the popularity of sustainable energy sources is also expected to boost the demand for organic spirulina as an algae biofuel.
Organic spirulina is also gaining prominence in the cosmetics sector due to its antioxidant and anti-inflammatory properties, which make it viable in reducing redness and swelling. It can be incorporated into face creams and masks due to the increased demand for natural skincare products.
North America accounts for a sizeable share of the global organic spirulina market owing to the presence of key market players in the region. Moreover, the growing demand for natural food colouring agents in the region also augments market demand as organic spirulina can be used to produce food colour.
Key Market Players
The major players in the global organic spirulina market report are
• Sensient Technologies Corp.
• Parry Nutraceuticals Limited
• Now Health Group Inc.
• Naturex S.A.
• Naturalin Bio-Resources Co., Ltd
• DIC Corporation
• DDW Inc.
• Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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