Spirulina is a blue-green alga that is known for nutritional capabilities. Spirulina is a nutrient-dense food, high in protein, vitamins, and minerals and offers many potential health benefits. Due to the strong demand for nutritional foods, the global spirulina market reached at a market valuation of USD XX.X Billion in 2018 and is estimated to grow at a CAGR of XX.X% during the forecast period, i.e., 2019-2024.
Market Insights
Growth Drivers – Spirulina Market
Health Benefits of Spirulina
Spirulina, considered a superfood, is a high-nutrient, low-calorie food that contains a lot of nutrition even in a small amount. Enriched with exceptional nutrient density, Spirulina offers several health benefits such as cholesterol-lowering, improvements in blood pressure and endothelial function, and others. Consumption of Spirulina also helps in managing blood sugar, increasing muscle strength and endurance, treating anemia, and offers many health benefits. Since there is a strong demand for healthy & nutrition-luxurious food products, it is expected that the global spirulina market will thrive at an unprecedented rate in the coming years.
Growing Use of Spirulina to Fight Obesity
Research has stated that Spirulina is beneficial in losing weight. Spirulina works as a functional food for obese and diabetic individuals and is used in a weight loss program. Worldwide obesity has nearly tripled since 1975, and obese individuals are looking for the solution in food items. Regular consumption of Spirulina not only improved BMI and weight but also results in improvements in blood pressure and endothelial function. Growing obesity coupled with Spirulina’s capability to reduce weight is likely to bolster the growth of global spirulina market in the near future.
Wide Application Area of Spirulina
Spirulina is used in a wide range of application, including skincare, medicine, food color, and more. Further, the food & beverage industry is coming forward to use every possible natural ingredient in food development in order to develop a healthier food product. This going green trend in the food & beverage industry is poised to back the spirulina market in the near future. Spirulina is available in different forms such as capsules, powder, and others, which makes Spirulina very easy to consume and fits into an individual’s busy schedule.
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Barriers – Spirulina Market
Low awareness among the population regarding Spirulina and its health benefits is a critical challenge in global spirulina market. Apart from this, the availability of alternatives is another major issue in global spirulina market.
Market Trends – Spirulina Market
Online Stores for Spirulina Products
The manufactures of such products are strongly considering online channels to market & distribute these spirulina products. Online stores have emerged as one of the most favorable sales channels in the spirulina products market since it is easily accessible to a large consumer base around the globe.
Segmentation Analysis
The spirulina market is segmented in different categories including by type, by form, by application, and by distribution channel. The market is segmented by type into Arthrospira Platensis and Arthrospira Maxima. Among this segment, the Arthrospira Platensis is expected to capture significant shares of the market in 2018. Global Arthrospira Platensis segment was totaled at USD XXX.X billion in 2018 and is projected to reach USD XXX.X billion in 2024 at a CAGR of XX.X% from 2019 to 2024. Moreover, based on the application, the spirulina market is further sub-segmented into cosmetics, nutraceuticals, food & beverage, animal feed, and others. Among which nutraceuticals segment is about to register a remarkable growth rate in upcoming years. The report is further breakdown into two more sections including by form (powder, capsules, and others) and by distribution channels (online stores and offline stores).
Geographical Analysis
Regionally, the report offers an analysis of North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. When it comes to spirulina market, Europe is the leader in spirulina market. The Europe region has acquired significant market shares and is poised to continue its dominance in the coming years. Government support and high awareness rate have fueled the market growth in this region.
Competitive Analysis
The report also covers detailed competitive analysis of major market players of the global spirulina market, such as Kapiva, Gandalf Spirulina, Vitality Products Inc., Swisse Wellness PTY LTD., Swanson, WeightWorld, Planet Health Pty Ltd., KIKI Ltd., Zhou Nutrition, Organika Health Products Inc. and other major & notable players. Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by business segment and by geography, SWOT Analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development and other market activities).
Segmentation
By Type
- Arthrospira Platensis
- Arthrospira Maxima
By Form
- Capsule
- Powder
- Others
By Application
- Cosmetics
- Nutraceuticals
- Food & Beverage
- Animal Feed
- Others
By Distribution Channel:
- Online Stores
- Offline Stores
By Geography
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
- Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)
Competitive Landscape
The report profiles various major market players such as
• Kapiva
• Gandalf Spirulina
• Vitality Products Inc.
• Swisse Wellness PTY LTD.
• Swanson
• WeightWorld
• Planet Health Pty Ltd.
• KIKI Ltd.
• Zhou Nutrition
• Organika Health Products Inc.
• Other Major & Niche Players
The study also provides a company’s positioning and market share in spirulina market.
Timeline Considered for Analysis:
- 2018: Base Year
- 2019: Estimated Year
- 2019 to 2024: Forecast Period
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global spirulina market by the following segments:
- Type
- Application
- Form
- Distribution Channel
Customization: We also offers customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Spirulina Industry Report
• What is the overall market size in 2018? What will be the market growth during the forecast period i.e. 2019-2024?
• Which region would have high demand for product in the upcoming years?
• What are the factors driving the growth of the market?
• Which sub-market will make the most significant contribution to the market?
• What are the market opportunities for existing and entry-level players?
• What are various long-term and short-term strategies adopted by the market players?
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