Spirulina Market Overview:
The highly nutritional and
ecofriendly Spirulina (Arthrospira platensis) has hypolipidemic, hypoglycemic,
and antihypertensive properties. Spirulina contains functional compounds, such
as phenolics, phycocyanins, and polysaccharides, with antioxidant,
anti-inflammatory, and immuno stimulating effects. In addition, Spirulina
processing products are employed in agriculture, food industry, pharmaceutics,
perfumery, and medicine. The use of spirulina in food can bring benefits to
human health owing to its chemical composition, since it has high levels of
vitamins, minerals, phenolics, essential fatty acids, amino acids, and
pigments. Thus, spirulina plays an important role in this scenario.
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Increase in demand for natural
ingredient and R&D investments in commercial spirulina products are the
major factors that drive the market growth. Further, promotion of the
production of spirulina by government boosts the market growth. However, impact
on spirulina production due to climate change hampers the growth of the market.
Nevertheless, untapped markets in the developing countries and ease of spirulina
cultivation due to technology development are the factors expected to foster
the market growth during the forecast period.
COVID-19 Impact Analysis:
The COVID-19
has fostered the growth of the spirulina market attributed to the need of
nutritional attention and vitamins as a potential remedy against the COVID-19
virus. Thus, researchers have drawn attention toward possible role of algae in
delaying the onset of COVID-19. In addition, seaweed’s potential to fight
COVID-19 is recognized in many research studies carried out by the
organizations such as the World Health Organization (WHO), thereby creating
ample room to rebalance the seaweed industry.
The spirulina
market is segmented into type,
application, formulation, and region. By type, the market is bifurcated into
Arthrospira Platensis and Arthrospira Platensis. By application, it is
categorized into nutraceuticals, cosmetics, food & beverages, agriculture,
feed, and others. By drug formulation, it is categorized into powder, tablet
& capsule, liquid, and granule & gelling agent. By region, it is
analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Market Players
- Algenol Biofuels Inc.
- Cabassi & Giuriati Spa
- Cyanotech Corporation
- Ddw Inc.
- Dic Corporation
- Döhler Gmbh
- Dongtai City Spirulina Bio-Engineering Co,
Ltd.
- Echlorial
- E.I.D. Parry Limited
- Givaudan International Sa
- Prolgae Spirulina Supplies Pvt. Ltd.
- Pond Technologies Inc.
- Sensient Technologies Corporation
Key Benefits For Stakeholders
- This report entails a detailed quantitative
analysis along with the current and future global spirulina market trends
from 2019 to 2027 to identify the prevailing opportunities along with
strategic assessment.
- The spirulina market forecast is studied from
2020 to 2027.
- The spirulina market size and estimations are
based on a comprehensive analysis of key developments in the industry.
- Qualitative analysis based on innovative
products facilitates strategic business planning.
- The development strategies adopted by the key
market players are enlisted to understand the competitive scenario of the
spirulina market.
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