Spirulina Powder Market - By Type (Organic & Conventional), By Packaging (Blister trays, Plastic containers, Stand-up pouches, Glass bottles, & others), By Application (Personal care, Food & beverages, Pharmaceuticals, Agriculture, & others), By Distribution Channel (Offline platforms (pharmacies, drug stores, supermarkets/hypermarkets, convenience stores, & others), Online platforms), By Geography - Global Opportunity Analysis & Industry Forecast, 2022-2027

Spirulina Powder Market Overview

Spirulina Powder Market size is estimated to reach $897.3 million by 2027, growing at a CAGR of 9.2% during the forecast period 2022-2027. Spirulina falls under the category of cyanobacteria and is delineated as protein and amino acid-rich microalgae with blue-green color recurrently used as a dietary supplement. It encompasses pigments like C phycocyanin and phycoerythrin which are responsible for its color. Spirulina is home to several amino acids such as valine, linoleic acid, phenylalanine, thionine, and lysine, therefore, extending several antioxidant effects. These blue-green color algae are a rich source of algae biomass as it converts sunlight into energy with no trouble. Owing to its amino acid-rich nature extends numerous health benefits such as reducing inflammation, preventing risks of CVDs like cancer and heart attack, lowering the levels of LDL, stabilizing blood pressure levels, curing allergic rhinitis, reducing the risk of diabetes, and many more. These algae exhibit vast applications ranging from the pharmaceutical sector to the food and beverage industry. The Spirulina Powder Market outlook is fairly captivating owing to its striking demand. Moreover, proliferating usage of cosmetics and various dietary supplements, growing health awareness among people, and augmenting research and development activities are the factors set to drive the growth of the Spirulina Powder Market for the period 2022-2027.

Report Coverage

The report: “Spirulina Powder Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Spirulina Powder Market.

By Type: Organic and Conventional.
By Packaging: Blister trays, Plastic containers, Stand-up pouches, Glass bottles, and others.
By Application: Personal care, Food and beverages, Pharmaceuticals, Agriculture, and others.
By Distribution Channel: Offline platforms (pharmacies, drug stores, supermarkets/hypermarkets, convenience stores, and others), Online platforms.
By Geography: North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America) and Rest of World (the Middle East and Africa).

Key Takeaways

• Geographically, the North America Spirulina Powder Market accounted for the highest revenue share in 2021. Nevertheless, Asia-Pacific is poised to dominate the market over the period 2022-2027.
• The rising prevalence of chronic ailments and accruing disposable income in developing countries are said to be preeminent drivers driving the growth of the Spirulina Powder Market. Environmental complications like extreme weather events are said to reduce market growth.
• Detailed analysis of the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Spirulina Powder Market report. 

Spirulina Powder Market Segment Analysis-By Application

The Spirulina Powder Market based on the application type can be further segmented into personal care, food and beverages, pharmaceuticals, agriculture, and others. The food and beverages segment held the largest share in 2021. The growth is owing to state-of-the-art coloring abilities. Moreover, owing to its nutritional nature it has become a requisite part of food and beverage items like pasta, pudding, ice cream, sauce, and many more. In addition to that, it is taken into account as an essential ingredient in the preparation of various ready-to-eat snacks such as spirulina crunchies. Furthermore, the pharmaceutical segment is estimated to be the fastest-growing with a CAGR of 10.4% over the forecast period 2022-2027. This growth is owing to augmenting prevalence of chronic illnesses like cancer, diabetes, heart attack, and others. Spirulina powder is used to manufacture many dietary supplements and capsules which are consumed by people on widescale to maintain a proper balance of crucial nutrients in the body. On another hand, escalating research and developmental activities which are centered on novel drug discovery are set to provide good grounds for the growth of the spirulina market in the respective segment.

Spirulina Powder Market Segment Analysis-By Distribution Channel

The Spirulina Powder Market based on distribution channels can be further segmented into offline platforms (pharmacies, drug stores, supermarkets/hypermarkets, convenience stores, and others), online platforms. The offline segment held the largest share in 2021. The growth is owing to the overwhelming presence in developed as well as deprived areas. In addition to that, buying offline has other benefits too such as a fair chance to scrutinize the quality and expiry of products, quick purchase, personal touch, one-stop solution, and sale support which are the primary reasons behind persuading customers to make a purchase. Moreover, the online segment is estimated to be the fastest-growing with a CAGR of 10.8% over the forecast period 2022-2027. This growth is owing to no time constraints as e-commerce platforms provide round-the-clock access to shopping. Besides, digitalization, tech-friendly generation, same-day delivery features, and tons of discount schemes are the factors ensuring a steady growth of e-commerce facilities.

Spirulina Powder Market Segment Analysis-By Geography

The Spirulina Powder Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held the largest share with 38% of the overall market in 2021. The growth in this segment is owing to the factors such as high health consciousness among people. Moreover, the rising prevalence of breast cancer, obesity, diabetes, and heart attack have their fair share in gravitating people toward spirulina supplementary powders. Nevertheless, accruing the number of gym memberships is likely to stimulate growth. However, the Asia-Pacific segment is expected to be the fastest-growing over the forecast period 2022-2027. This growth is owing to ascending health complications as a major section of the population in countries like India and China is turning old. On another hand, the rising wealth of countries is pushing millions of people out of extreme poverty. Consequently, they are making more demand for such products to ensure overall health and wellbeing. Also, improving infrastructure is providing retailers and online platforms a better and more convenient way to operate.

Spirulina Powder Market Drivers

Growing demand for nutritional products as life-threatening ailments are roaming around the world is Anticipated to Boost Product Demand

According to a WHO study, there were more than 2 million lung, 1.09 million stomachs, and 2.2 million breast cancer cases in 2020. Likewise, over 1.8 million (>1,898,000) cancer cases were diagnosed in the US last year. Consequently, the fear of existentially threatening health problems like cancer and heart attack has driven millions of people toward better lifestyles and healthy ingestion habits. As a result, millions of people worldwide have made exercise and dietary supplements an inextricable part of their daily lives. As a result, the overall demand for spirulina powder is ascending.

Proliferating disposable incomes due to the rising economic wealth of developing countries are Expected to Boost Product Demand

The aforementioned driver has brought a quote into life “Money isn’t everything but everything needs money.” Therefore, in order to gravitate toward multinational business developing nations like India, China, Indonesia, others are constantly allocating billions of dollars to ameliorate their existing infrastructure. As a result, heightening manufacturing and spiraling exports are ensuring economic prosperity in these nations. For instance, leaving the Us behind, in 2021 China attained the status of the richest country in the world. China’s wealth has accumulated to $514 trillion dollars. Another rising trade relations in countries are another prominent reason is economic growth. Recently, China and India's trade has hit new heights of $125 billion dollars. Moreover, despite the pandemic, China’s exports have risen by 30% and reached $3.36 trillion in 2021. As a result, per capita incomes of these countries are too witnessing a rise and improving the quality of lives people.

Spirulina Powder Market Challenges

Environmental complications are Anticipated to Hamper Market Growth

The utmost dependency of major world manufacturers like China and India has allured the flak of several western countries in recent years. As heavy carbon emission from this nation is the biggest factor in increasing global warming which further results in floods, rising sea levels, changed season durations, and devastating natural habitat. According to NASA's temperature record, Earth in 2021 was about 1.9 degrees Fahrenheit (or about 1.1 degrees Celsius) warmer than the late 19th-century average, the start of the industrial revolution. All these events are reducing the overall yield of spirulina and are likely to challenge the steady growth of the respective market.

Spirulina Powder Industry Outlook:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Spirulina Powder Market. Key companies in this market are-

1. Dohler GmbH
2. DIC Corporation
3. Cyanotech Corporation
4. EID Parry Ltd
5. Dongtai City Spirulina Bio-engineering Co
6. Algene Biotech
7. Penn Herb
8. Naturex SA
9. Algenol Biofuels
10. Sensient Technologies

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