Global Spirulina Market To Reach USD 238.3 Million By 2022

PUNE, India - Dec. 12, 2017 - PRLog -- The spirulina market will increase at a CAGR of 7.1% from 2017 to 2022 to USD 238.3 million by 2022, driven by growing demand for natural food colours, increasing vegetarianism, stringent regulations regarding the inclusion of synthetic colours and flavours, and growing malnutrition across the globe. However, low awareness of the benefits of spirulina and challenges associated with the production of spirulina is expected to hinder the growth of the market to some extent. In addition, emergence of new application areas further provides significant opportunities for the various stakeholders in the global spirulina market.

The report presents market size for 2015, 2016, and 2017, with forecast till 2022 by form (powder, tablets, capsules, and flakes), application (food and beverages, nutraceuticals, pharmaceuticals, veterinary, and cosmetics), and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. The study further analyzes these regions at a country level.

The spirulina powder dominated the market by form and is expected to grow at a healthy CAGR of 7.3% during the forecast period. The growth of this form is primarily attributed to the increasing adoption of spirulina powder by the food and beverage manufacturers for preparing healthy food products to attract health conscious consumers.

North America commanded the largest share in the global spirulina market, followed by Europe, and Asia-Pacific region. However, Asia-Pacific region is poised to witness significant growth during the forecast period mainly due to the presence of many local and regional players in this region, growing need to eradicate malnutrition, various government initiatives to promote use of spirulina, and ongoing research on exploring the various application areas for spirulina.

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The global spirulina market is fragmented with the presence of many local and regional players. The key players in the global spirulina market are DIC Corporation, Algene Biotech, Algaetech international sdn.bhd, Sunrise Nutrachem Group, Tianjin Norland Biotech Co., Ltd., Naturya, Guangzhou Endless Biotech Co., Ltd, Synergy Naturals, Cyanotech Corporation, E.I.D. Parry (I) Ltd., Far East Biotech Co. Ltd., (FEBICO), Sanatur GmbH, Fuqing King Dnarmsa Spirulina Co., Ltd., Now Foods, Zelang Biotech, Wudi Fengtai Aquaculture Co, Ltd., The All Natural Company, and Australian Spirulina.

Key questions answered in the report-

Which are the high growth market segments in terms of forms, applications, regions and countries?

What is the historical market for spirulina market across the globe?

What are the market forecasts and estimates from the period 2017-2022?

What are the major drivers, restrains, threats, and opportunities in the global spirulina market?

What are the burning issues of the global spirulina market?

Who are the major players in the global spirulina market and what share of the market do they hold?

Who are the major players in various countries and what share of the market do they hold?

What are the competitive landscapes and who are the market leaders by sub-region in the global spirulina market?

What are the recent developments in the global spirulina market?

What are the different strategies adopted by the major players in the global spirulina market?

What are the geographical trends and high growth regions/ countries?

What are the local emerging players in the global spirulina market and how do they compete with the global players?

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Meticulous Research™ is one of the leading independent full service global market research and consulting companies focusing on medical devices, biotechnology, healthcare IT, pharmaceuticals, food and beverages, and agriculture domains. Meticulous Research produces global reports and custom studies for North America, Europe, Latin America, Asia-Pacific, and Middle East and Africa regions.