Meticulous Research®—a leading global market research company, published a research report titled ‘Spirulina Market—Global Opportunity Analysis and Industry Forecast (2024-2031).’ According to this latest publication from Meticulous Research®, the Spirulina market is expected to reach $1.20 billion by 2031, at a CAGR of 9.4% from 2024 to 2031.
Increasing health & wellness trends, the growth of the dietary supplements industry, the rising demand for natural food colorants, the growing popularity of vegetarianism, the positive environmental impact of spirulina cultivation, strict regulations on the utilization of synthetic colors & flavors, the rising preference for spirulina-based products, expanding use of spirulina in aquaculture, and increased investments from natural color manufacturers are driving the growth of the spirulina market. However, the low awareness of the benefits associated with spirulina, the complexities in algae production, and the risk of contamination restrain the market’s growth.
Furthermore, new application areas, increasing demand for phycocyanin, rising demand for spirulina from biorefineries, and increasing demand for fresh/frozen spirulina are expected to offer growth opportunities for market players. Additionally, the adoption of new production technologies, such as photobioreactors, is a prominent trend in this market.
Key Players:
The spirulina market is characterized by a moderately competitive scenario due to the presence of several large- and small-sized global, regional, and local players. The key players operating in the spirulina market include Clos Sainte Aurore (France), Spirulina Viva (Mexico), SPIFORM (France), Spirulina La Capitelle (France), Aurospirul (India), Far East Microalgae Industries, Co., Ltd. (Taiwan), Fuqing King Dnarmsa Spirulina Co., Ltd. (China), DIC Corporation (Japan), E.I.D. - Parry (India) Limited (a subsidiary of M/s. Ambadi Investments Limited) (India), Cyanotech Corporation (U.S.), C.B.N. Bio-engineering Co., Ltd (China), Yunnan Green A Biological Project Co., Ltd. (a Subsidiary of Yunnan Spirin Biotechnology Co. Ltd) (China), Jiangshan Comp Spirulina Co., Ltd (China), Inner Mongolia Rejuve Biotech Co., Ltd. (China), Zhejiang Binmei Biotechnology Co., Ltd. (China), Bluetec Naturals Co., Ltd. (China), Taiwan Chlorella Manufacturing Company (TCMC) (Taiwan), Roquette Klötze GmbH & Co. KG (Germany), Vedan Biotechnology Corporation (Taiwan), AlgoSource SA (France), Tianjin Norland Biotech Co., Ltd. (China), Allmicroalgae Natural Products S.A. (Portugal), Aliga Microalgae (Denmark), Taiwan Wilson Enterprise Inc. (Taiwan), Algalimento SL (Spain), Seagrass Tech Private Limited (India), Plankton Australia Pty Limited (Australia), Hangzhou Ouqi Food Co., Ltd. (China), JUNE Spirulina (a Part of JUNE Group of Companies) (Myanmar), Ordos Xinyuli Spirulina Industry Group Co., Ltd. (China), Qingdao Haizhijiao Biotechnology Co., Ltd. (China), BlueBioTech Group (Germany), Sea & Sun Organic GmbH (subsidiary of Sea & Sun Technology GmbH) (Germany), Pond Technologies Inc. (Canada), Far East Bio-Tec. Co., Ltd. (FEBICO) (Taiwan), Givaudan SA (Switzerland), Nutragreenlife Biotechnology Co. Ltd. (branch of Greenlife Biotechnology Co., Ltd.) (China), Xi’an Fengzu Biological Technology Co., Ltd. (FZBIOTECH) (China), and Necton S.A. (Portugal).
Main Factors Driving Global Spirulina Market Growth:
Health and Wellness Focus: Consumers are increasingly prioritizing health and wellness, seeking functional foods and supplements that offer nutritional and preventive benefits. Spirulina, recognized for its high protein content, essential amino acids, antioxidants, and immune-boosting properties, is in high demand among health-conscious individuals.
Expansion of Dietary Supplements Industry: The dietary supplements sector has seen significant growth, especially post-pandemic, with global sales projected to reach USD 252 billion by 2025. Spirulina is widely used in supplements for its energy-boosting and detoxifying effects.
Shift Toward Natural Food Colorants: Growing concerns about the health risks of synthetic additives and regulatory restrictions on artificial colorants have led manufacturers to embrace natural alternatives. Spirulina-derived phycocyanin provides a vibrant blue hue, making it a sought-after natural colorant in food and beverages.
Why Asia-Pacific Leads in Spirulina Production and Exports:
Favourable Climate and Resources: Countries like China, India, and Taiwan offer ideal climatic conditions for large-scale spirulina cultivation, with abundant sunlight and suitable water resources.
Cost-Effective Production: Lower labor and operational costs in the region enable competitive pricing, making Asia-Pacific spirulina attractive to international buyers.
Government Support and Investments: Many governments in the region actively promote microalgae cultivation through subsidies, research, and infrastructure development.
Established Industry Players: Asia-Pacific is home to leading spirulina producers with advanced cultivation techniques and strong export networks, further consolidating its position in the global market.
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Future Trends Shaping Global Demand for Spirulina-Based Nutraceuticals:
Rising Demand for Natural Nutraceuticals: As consumers become more aware of the health risks associated with synthetic ingredients, demand for natural, plant-based nutraceuticals like spirulina will continue to grow.
Innovation in Product Formats: Advances in processing technologies, such as photobioreactors, are enabling the development of new spirulina formats—fresh, frozen, and functional blends—catering to diverse consumer preferences.
Expansion into New Applications: Beyond supplements, spirulina is gaining traction in biorefineries for biofuel production, animal feed, and even as a sustainable source of omega-3 fatty acids.
Focus on Sustainability: Environmental concerns are driving both consumers and manufacturers to prioritize sustainable sourcing and production methods, further boosting spirulina’s appeal.
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