Global Spirulina Market 2024-2028
Spirulina Market 2024-2028
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.
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.