Global Spirulina Powder Market: Snapshot
The global spirulina powder market is foretold to attain growth with increasing use of healthy food products and growing health-consciousness among consumers. Spirulina powder could be extensively used not only in whole foods but also dietary supplements. The market is expected to find lucrative applications in various end-use industries such as cosmetic, medicine, and food and beverages. Increase in government support for local manufacturers and government initiatives to raise spirulina production could be other factors promoting the growth of the market. Furthermore, spirulina powder is used in biofertilizer and biofuel industries. It is worth mentioning that the market could gain ample demand from skin and hair care product manufacturers as well.
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Growth of the supplements industry is foreseen to bode well for the global spirulina powder market. Moreover, with the rise in the demand for cyanobacteria due to their contribution in weight reduction and increasing number of health clubs and fitness centers, the market could gain a strong boost in the coming years. Health benefits of cyanobacteria have helped them to find usage in desserts, smoothies, juices, salads, and breakfast meals. The skin and hair care market demands spirulina powder as an inclusion in various treatments, including anti-aging, wrinkles, grey hair, hair loss, and allergies. In the medical industry, spirulina powder is used in a range of treatments along with a number of pharmaceutical products.
From a geographical perspective, Asia Pacific is predicted to account for a substantial share of the global spirulina powder market due to rising vegan population, growing usage of healthcare products, and increasing disposable income. Escalating switch toward living a healthy lifestyle, however, could help Europe to become prominent in the market. In North America, some consumers have been using food supplements as a diet alternative. Additionally, growing aging population and obesity problems are projected to help the region to lead the market.
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Global Spirulina Powder Market: Overview
Spirulina, a biomass of blue-green algae found in alkaline waters of ponds, lakes, and rivers, is processed to into a dietary supplement or whole food. This is because it is loaded with nutrients such as vitamins A, B12, C, and E, proteins, minerals, essential lipids, and carbohydrates that have myriad health benefits. Spirulina is basically extracted from the two species of cyanobacteria – arthrospira platensis and arthrospira maxima. Spirulina is extensively used as a feed supplement in aquaculture, aquariums, and poultry industries. On account of so many applications, the market for spirulina powder is expected to clock healthy growth over the coming years.
Global Spirulina Powder Market: Key Trends
Majorly fueling the global market for spirulina powder is the rising awareness pertaining to its myriad health benefits. It has high anti-oxidant and anti-inflammatory properties and contains beta-carotene and hypolipidemic which serve to bring down blood pressure and cholesterol. Apart from that, the wide array of natural colors gotten from spirulina are boosting their market too. It finds widespread application in cosmetics and pharmaceutical industries as a result. This has led to governments of many nations such as Ghana, India, and Angola promoting production of spirulina.
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One drawback of spirulina powder, on the other hand, is the less stability of the natural colors extracted from it. It is said that natural colors change easily under sunlight. Synthetic colors steal a march over it, when it comes to stability.
Global Spirulina Powder Market: Market Potential
Rising organized retailing and online retailing are providing a major fillip to the sales of spirulina powder. Algae-based dietary supplements and spirulina-based food and beverages are being increasingly sold by large retailers, who are also targeting online platforms to up visibility and sales. Besides, rise in popularity of vegan diet is another prominent growth driver of the market. However, currently, the market is still facing difficulties in distribution. But the rising millennial population highly conscious of their health is expected to open up an avenue for growth in the market.
Global Spirulina Powder Market: Regional Outlook
North America and South America together account for a substantial share in the global market for spirulina powder. The U.S. is the main driver in the region on account of the rising obesity problems and the large pool of elderly in the country. Asia Pacific, Europe, and the Middle East and Africa, which trail the Americas when it comes to generating sales, are nonetheless emerging as lucrative markets. Growing knowledge about the various health benefits of spirulina products is the primary factor promoting their sales in the above regions. The mushrooming hypermarkets, supermarkets, convenience stores, discount stores, and food specialty stores in the aforementioned regions are also playing a key role in stoking sales.
Global Spirulina Powder Market: Competitive Dynamics
Some of the prominent participants in the global market for spirulina powder are Algene Biotech, NOW Foods, Naturya, Bardakci Group, Earthrise Nutritionals, Arwind Enterprise, Penn Herb, AK Biotech, and Sari Food. In order to grow in the market, these players are seen focusing on product development.