The spirulina market is forecasted to grow by USD 211.3 mn during 2023-2028, accelerating at a CAGR of 8% during the forecast period. The report on the spirulina market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by health benefits associated with spirulina products, growing demand for plant-based lipids and proteins, and increasing support from governments worldwide for production and application of spirulina products.
Market Scope
Base Year
2024
End Year
2028
Series Year
2024-2028
Growth Momentum
Accelerate
YOY 2024
7.4%
CAGR
8%
Incremental Value
$211.3 mn
Technavio's spirulina market is segmented as below:
By Application
Nutraceuticals
Food and beverages
Animal feed and pet food
Cosmetics
Others
By Geographical Landscape
North America
Europe
APAC
South America
Middle East and Africa
This study identifies the growing demand for naturally obtained health supplements as one of the prime reasons driving the spirulina market growth during the next few years. Also, increasing popularity of online retailing and growing use of spirulina in personal care products will lead to sizable demand in the market.
The report on the spirulina market covers the following areas:
Spirulina Market sizing
Spirulina Market forecast
Spirulina Market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading spirulina market vendors that include ALGATEC, Algenol, C.B.N. Bio engineering Co. Ltd., Cabassi and Giuriati SpA, Cyanotech Corp., DIC Corp., Far East Microalgae Industries Co. Ltd., Fraken Biochem Co. Ltd., Fuqing King Dnarmsa Spirulina Co. Ltd., Givaudan SA, Murugappa Group, Prolgae Spirulina Supplies Pvt. Ltd., Qingdao Haizhijiao Biotechnology Co. Ltd., Sensient Technologies Corp., Synergy Natural Products Pty Ltd., TAAU Australia Pty Ltd., Tianjin Norland Biotech Co. Ltd, Yunnan Green A Biological Project Co. Ltd., and Zhejiang Comp Spirulina Co. Ltd.. Also, the spirulina market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.
Table of Contents
1 Executive Summary
1.1 Market overview
Executive Summary - Chart on Market Overview
Executive Summary - Data Table on Market Overview
Executive Summary - Chart on Global Market Characteristics
Executive Summary - Chart on Market By Geographical Landscape
Executive Summary - Chart on Market Segmentation by Application
Executive Summary - Chart on Incremental Growth
Executive Summary - Data Table on Incremental Growth
Executive Summary - Chart on Company Market Positioning
2 Market Landscape
2.1 Market ecosystem
Parent Market
Data Table on - Parent Market
2.2 Market characteristics
Market characteristics analysis
2.3 Value chain analysis
Value Chain Analysis
3 Market Sizing
3.1 Market definition
Offerings of companies included in the market definition
3.2 Market segment analysis
Market segments
3.3 Market size 2023
3.4 Market outlook: Forecast for 2023-2028
Chart on Global - Market size and forecast 2023-2028 ($ million)
Data Table on Global - Market size and forecast 2023-2028 ($ million)
Chart on Global Market: Year-over-year growth 2023-2028 (%)
Data Table on Global Market: Year-over-year growth 2023-2028 (%)
4 Historic Market Size
4.1 Global Spirulina Market 2018 - 2022
Historic Market Size - Data Table on Global Spirulina Market 2018 - 2022 ($ million)