Global Spirulina Dietary Supplements Market, By Form (Powder, Tablets/ Capsules, Liquid and Granules), End User (Food and Beverages, Nutraceuticals, Feed and Pharmaceutical), Distribution channel (Super Stores, Department Stores, Other offline Mediums and Online Retailers), Country (U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Data Bridge Market Research analyses that the global spirulina dietary supplements market will project a CAGR of 5.80% for the forecast period of 2021-2028. Therefore, the spirulina dietary supplements market value, which was USD 0.3 billion in 2020, will shoot up to USD 0.47 billion by 2028. Increasing personal disposable income, rising awareness about the benefits of spirulina dietary supplements and rise in the demand and application of spirulina dietary supplements by the various end user verticals such as food and beverages, nutraceuticals, feed and pharmaceutical and others are the major factors attributable to the growth of spirulina dietary supplements market.
Spirulina is high in nutritional value and exhibits hypolipidemic, hypoglycemic, and antihypertensive properties. Spirulina contains functional compounds which makes it perfect for a wide range of applications. It is multicellular microalgae which is usually blue-green. Due the its chemical composition, its application especially in food items can tag along a wide range of benefits to the consumer.
Rising personal disposable income and increasing dietary supplements especially in the developing regions are the major factors fostering the growth of spirulina dietary supplements market. Increasing use of spirulina in food and beverage products domestically as well as globally and growth and expansion of food and beverages industry are other important factors acting as spirulina dietary supplements market growth determinant. Rising deficiency of vitamin A, K, B, iron and protein will further create lucrative growth opportunities for the spirulina dietary supplements market. Growth in the vegetarian population base especially in the developing economies will induce growth in the spirulina dietary supplements market value. Changing lifestyle and supportive government regulations to increase spirulina production and support to local manufacturers will also induce growth in the spirulina dietary supplements market value.
However, rarity of sources and low availability of spirulina in general will pose a major challenge to the growth of spirulina dietary supplements market. Rising cases of food contamination and adulteration will further derail the spirulina dietary supplements market growth rate. Some supplements may contain harmful substances and this will also dampen the market growth rate.
This spirulina dietary supplements market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on spirulina dietary supplements market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Spirulina Dietary Supplements Market Scope and Market Size
The spirulina dietary supplements market is segmented on the basis of form, end user and distribution channel. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of form, the global spirulina dietary supplements market is segmented into powder, tablets/ capsules, liquid and granules.
- On the basis of end user, the global spirulina dietary supplements market is segmented into food and beverages, nutraceuticals, feed and pharmaceutical and others.
- On the basis of distribution channel, the global spirulina dietary supplements market is classified into the super stores, department stores, other offline mediums and online retailers.
Spirulina Dietary Supplements Market Country Level Analysis
The spirulina dietary supplements market is analyses and market size, volume information is provided by country, form, end user and distribution channel as referenced above.
The countries covered in the spirulina dietary supplements market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa(MEA).
North America dominates the spirulina dietary supplements market and will continue to excel its dominance during the forecast period owing to growth is the high demand for naturally derived agents or food colouring. Asia-Pacific region will however score the highest CAGR owing to the increasing personal disposable income, rising awareness among people and growth and expansion of food and beverages industry.
The country section of the spirulina dietary supplements market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Spirulina Dietary Supplements Market Share Analysis
The spirulina dietary supplements market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to spirulina dietary supplements market.
The major players covered in the spirulina dietary supplements market report are Sensient Technologies Corporation, NOW Foods., Parry Nutraceuticals Limited, NATUREX, Naturalin Bio-Resources Co., Ltd., GNT Group B.V., GNC Holdings, LLC, Fuqing King Dnarmsa Spirulina Co., Ltd., Fraken Biochem Co., Ltd., Far East Bio-Tec Co., Ltd.., ALGAPHARMA BIOTECH CORP.,, Döhler GmbH, DIC CORPORATION, Dongtai City Spirulina Bio-Engineering Co. Ltd., DDW The Color House, Cyanotech Corporation., Chr. Hansen Holding A/S, ALGENOL, Prolgae Spirulina Supplies Pvt. Ltd. and ALGATEC among other domestic and global players. Market share data is available for Global, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.