What is Spirulina Powder Market?
Spirulina has a high protein and vitamin content, which makes it an excellent dietary supplement for people on vegetarian or vegan diets. Spirulina powder is incredibly high in protein and a good source of antioxidants, B-vitamins and other nutrients. Furthermore, spirulina powder is used in biofertilizer and biofuel industries. In the medical industry, spirulina powder is used in a range of treatments along with a number of pharmaceutical products. Rise in government initiatives to boost the production of spirulina boosting the growth of the spirulina powder market.
Highlights from Spirulina Powder Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | DIC Corporation (Japan), EID Parry (India), Cyanotech Corporation (United States), NOW Foods (United States), Bardakci Group (Turkey), Naturya (United Kingdom), Aim Grow Biotech (Canada), Earthrise Nutritionals (United States) and Penn Herb (United States) |
Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Spirulina Powder market throughout the forecasted period.
DIC Corporation (Japan), EID Parry (India), Cyanotech Corporation (United States), NOW Foods (United States), Bardakci Group (Turkey), Naturya (United Kingdom), Aim Grow Biotech (Canada), Earthrise Nutritionals (United States) and Penn Herb (United States) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Algene Biotech (India), AK Biotech (India) and Arwind Enterprise (India). Spirulina Powder Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Cosmetics and Personal Care, Pharmaceutical and Nutraceutical, Food and Beverage and Other |
Type | Organic and Conventional |
Distribution Channel | Superstores,Department Stores,Grocery,Online |
On the basis of geography, the market of Spirulina Powder has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Use of Healthy and Diet Food Products
Market Growth Drivers:
Increase Health-Conscious Consumers Worldwide and Increasing Multiple Chronic Dieses Patients Globally
Challenges:
Few Adverse Effects Include Headache, Muscle Pain, Flushing of the Face, Sweating, and Difficulty in Concentrating
Restraints:
Availability of Spirulina restricted this Market
Opportunities:
Government Initiatives to Raise Spirulina Production, Increasing Demand from Hair and Skin Care Market, Due to the High Impact of Spirulina Powder on Various Treatment such as Hair Loss, and Allergies, etc and Rising Demand from Cancer Patients and Appears especially Effective against a Type of Precancerous Lesion of the Mouth called OSMF due to the Anti-cancer Properties
Key Target Audience
Spirulina Powder Manufacturer, Spirulina Powder Supplier/Distributions, Raw Material Supplier, Pharmaceutical Industry and Government Bodies
Market Leaders & Development Strategies
On August 29, 2019, DIC Corporation, has entered into an agreement to acquire BASF’s global pigments business, known as BASF Colors & Effects. The acquisition will broaden DIC’s portfolio as a global manufacturer of pigments, including those for electronic displays, cosmetics, coatings, plastics, inks, and specialty applications, by creating a world-class pigments supplier that offers customers an even wider range of versatile solutions.