Spirulina Market was valued at USD xx billion in 2018 and is projected to reach around USD xx billion by 2025, at a CAGR of XX% during the forecast period.
Spirulina Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2018-2024 Launch of new food varieties and government initiatives and are key drivers for global spirulina market.
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Spirulina is a biomass obtained from cynobacteria and consumed by humans and animals. There are two types of Spirulina includes Arthrospira plantensis and Anthrospira maxima are available which are further processed for various applications. It is used as dietary supplement in the form of capsule, powder, liquid and others. Furthermore, it is also used as food supplement for aquarium, poultry industry and others. So, during the study of Global Spirulina market, we have considered Spirulina product type and consumables to analyze the market.
Scope of Spirulina Reports –
Spirulina Market report is segmented on the basis of product type, application type, Formulation and by regional & country level. Based upon Product type, global Spirulina Market is classified as Arthrospira plantensis and Anthrospira maxima. Based upon Application type, global Spirulina Market is classified as Nutraceuticals, Food and Beverages, Cosmetics, Agriculture, Feed and Others. Based upon formulation, global Spirulina Market is classified as Powder, Tablet & Capsule, Liquid, and Granule & Gelling Agent.
The regions covered in this Spirulina Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of spirulina is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key Players for Spirulina Market Reports–
Spirulina market report covers prominent players like Algaetech International Sdn Bhd, Fuqing King Dnarmsa Spirulina Co. Ltd, Cyanotech Corporation, Sensient Technologies Corporation, DDW The Color House, Chr. Hansen Holding A/S, DIC Corporation, Algene Biotech, Sunrise Nutrachem Group Co. Ltd. and others.
Global Spirulina Market Dynamics –
The commercialization and growth of global Spirulina market over the past 10 years have been highly impactful. Growing awareness among people about the health benefits of Spirulina and natural colors produces from Spirulina is the major factors supporting the growth of Spirulina market. Furthermore, there are various initiatives taken by the government to support the growth of rural area by providing them decent income from Spirulina production this also fuels the Spirulina market.
Spirulina comprises of anti-inflammatory, antioxidant properties are which are good for the health. Spirulina is also used for the production of various cosmetics and also used in pharmaceutical industries. However, lower stability of colors produced from Spirulina has lower stability as compared to the synthetic colors which may hamper the growth of Spirulina market.
Global Spirulina Market Regional Analysis –
North America dominates the market with highest market share closely followed by Europe due to increasing demand for natural derived food products. The European government has reduced the daily intake of synthetic colors has also fueled the Spirulina market. Asia Pacific is expected is to experience a rapid growth due to the various government initiatives taken by government in the developing economies to promote the growth of rural areas and provide them better living conditions.
In countries like India, China, and others government is promoting the production of Spirulina due to its health benefits. There is also a significant in the aquaculture industry in these regions which is also one of the major factors supporting the growth of Spirulina market over the forecast period. As per Food and Agriculture organization 2018 report the total aquaculture production of 4.43 million tones was valued at US$ 3.5 billion of which carp alone was responsible for as much as 4.18 million tones. So, all the above mentioned factors will support the growth of Spirulina market in the near future.
Key Benefits for Spirulina Market Reports –
Spirulina market report covers in-depth historical and forecast analysis.
Spirulina Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, Regional and Country Level.
Spirulina Market report helps to identify opportunities in marketplace.
Spirulina Market report covers extensive analysis of emerging trends and competitive landscape.
Spirulina Market Segmentation –
Spirulina Market: by Product type analysis:
Spirulina Market: by Application type Analysis
Spirulina Market: by Formulation Analysis
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