According to a research report published by Spherical Insights & Consulting, the Global Spirulina Powder Market Size is to grow from USD 480.56 Million in 2022 to USD 1198.95 Million by 2032, at a Compound Annual Growth Rate (CAGR) of 9.57% during the projected period.
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COVID-19 Impact: The pandemic transformed grocery shopping habits, boosting the demand for packaging. However, luxury packaging took a hit as consumers cut back. Despite challenges, the spirulina market is on the rise as health-conscious consumers seek natural food components.
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Market Insights:
🌱 Open Pond Cultivation rules with a 36.74% revenue share.
🌬️ Spray Drying shows significant growth with a gentle method preserving spirulina’s benefits.
🌿 Organic Certification takes the lead, promising antioxidant-rich spirulina produced without synthetic additives.
Applications:
🥗 Dietary segment dominates with a 44.1% revenue share.
🌐 From dietary supplements to cosmetics, spirulina powder is your go-to for overall health and well-being.
Major listed companies:
- Cyanotech Corporation
- DIC Corporation
- Parry Nutraceuticals
- NOW Foods
- Prologue Spirulina Supplies Pvt. Ltd.
- Dongtai City Spirulina Bio
- Tianjin Norland Biotech Co., Ltd.
- Earthrise Spirulina
- Algene Biotech
- Other
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Recent Developments
- In July 2021, Sensient Technologies (a flavour and colour production firm based in Wisconsin) has announced the successful acquisition of “Flavour Solutions,” a food product supplying company based in the United States. The corporation kept the financials of the transaction hidden.
Market segmentation:
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the global spirulina powder market based on the below-mentioned segments:
Spirulina Powder Market, Cultivation Method Analysis
- Open pond cultivation
- Closed photobioreactor systems
- Hybrid systems
Spirulina Powder Market, Processing Method Analysis
- Spray drying
- Freeze drying
- Sun drying
By Regional
North America is dominating the market with more than 49% market share over the forecast. As a result of the region’s highly developed healthcare industry, the presence of leading manufacturers, the high rate of spirulina uptake, and the increasing need for organically derived coloring agents. The growing demand for healthy and clean-label substances like colours has generated a market for spirulina extracts. The US government’s tight controls and ban on synthetic food additives are driving the demand for natural additives. In addition, the fundamental driver is an enormous population that is becoming more interested in healthy food items, in which algae-based ingredients play an important part.
Asia Pacific, on the contrary, is expected to grow the fastest during the forecast period. Korea, China, and Indonesia are major producers of algae. This algae species’ greater mixing with nutraceuticals in non-dairy products is expected to fuel regional market expansion. Rising food and beverage demand, China, and Korea are all potential markets for spirulina. Consumer preferences are shifting towards less processed meals with more visual appeal, which has boosted the market performance of clean-label ingredients like spirulina.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global commercial aircraft disassembly, dismantling and recycling along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Spirulina Powder Market include Cyanotech Corporation, DIC Corporation, Parry Nutraceuticals, NOW Foods, Prologue Spirulina Supplies Pvt. Ltd., Dongtai City Spirulina Bio, Engineering Co., Ltd., Tianjin Norland Biotech Co., Ltd., Earthrise Spirulina, Algene Biotech, Hydrolina Biotech, Sensient Technologies Corporation, DIC Lifetec Co., Ltd., Shanghai Fufa Food Co., Ltd., Jiangxi Alga Biotech Co., Ltd., and many others.
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The Global Spirulina Powder Market size research report aims to answer the
Following Key Questions:
I. What are the main products/services offered in the market and how are they evolving to meet changing consumer demands?
II. What are the key technological advances and innovations impacting the market and how will they affect the competitive landscape?
III. What are the key distribution channels and marketing strategies market players employ to effectively reach their target audience?
IV. What are the price trends in the market, and how do prices change across different product segments and geographies?
V. How will changing demographic patterns, such as age groups and income levels, affect consumer behaviour and market demand?
VI. What are the key cost factors and factors that influence the profitability of companies in theGlobal Spirulina Powder Market?
VII. How will sustainability and environmental considerations affect consumer preferences and market growth in this sector?
VIII. What are the investment opportunities and challenges for new entrants and investors looking to enter the market?
IX. How do government policies and regulations impact market dynamics and shape industry strategies?
X. What are the current supply chain trends and challenges in the market, and how do they affect product availability and pricing?
XI. What are the levels of customer satisfaction and loyalty within the market, and how do market participants differentiate in terms of service quality?
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