Diverse dietary preferences, rich consumer base, and robust eCommerce industry turns the United States into a lucrative market.
NEWARK, Del, Sept. 27, 2023 (GLOBE NEWSWIRE) — The spirulina powder market valuation is US$ 472.67 million in 2023. As the demand for nutritious plant-based supplements surges, the spirulina powder market is anticipated to hold a valuation of US$ 777.18 million by 2033. The market is expected to register a CAGR of 6.4% over the forecast period from 2023 to 2033.
Spirulina powder is extracted from spirulina, a blue-green algae that is found to be grown on freshwater bodies, making it one of the most preferred choices for vegetarian fitness enthusiasts all over the world. The superfood status coupled with its rich anti-inflammatory properties has garnered a lot of attention in the world of the vegan fitness industry.
With the influx of nutraceutical manufacturers, the spirulina powder market is likely to expand in recent years. Spirulina powder can solve the problems of malnutrition, food shortages, and other relevant problems leading to food crises in underdeveloped countries. Due to these capabilities, many government bodies are promoting spirulina powder in their programs.
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Spirulina powder, which has many medicinal properties as well, is mainly consumed by individuals who are on a weight-loss diet. The protein content along with other minerals and vitamins make spirulina powder a great substitute for chemical steroids and supplements. Spirulina powder can be easily obtained from leading health food stores, e-Commerce businesses, and specialty supplement shops.
Conventional spirulina powder is obtained from the artificial cultivation of spirulina in microclimatic conditions. This type of spirulina powder is relatively cheaper, easily available, and more edible as compared to its organic counterpart. Conventional-type powder dominates the global market with a share of 59.1%.
“There is little to no awareness about the health benefits of spirulina powder. Well-established sports nutrition brands can benefit a lot if they collaborate with world-renowned athletes and fitness figures for the endorsement of spirulina powder”, opines Nandini Roy Choudhury, Client Partner at Future Market Insights.
Key Takeaways from the Spirulina Powder Market Report
- Owing to its emerging vegan trend, the United States showcased a 26.8% share of the spirulina powder market.
- China has a 9.7% share of the global spirulina market due to its association with the use of spirulina since ancient times.
- Based on application type, dietary supplements and pharmaceuticals dominate the spirulina powder market with a 72.9% global revenue share.
- Emerging brands have come up with many innovative food items that have spirulina powder as their main ingredient, like smoothies, ready-to-serve beverages, and everyday snacks.
Recent Developments in the Spirulina Market
- To provide its patients with essential nutrients and vitamins, Mumbai’s Group of Tuberculosis Hospitals recently cultivated spirulina on its premises.
- The National Aeronautics and Space Administration (NASA) is all set to incorporate spirulina powder into the diets of its astronauts.
- GNT Group came up with Exberry Shade Bright Green, a spirulina-infused, green powder that has applications in bakery mixes and seasoning products.
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Key Market Players
- Clos Sainte Aurore
- Spirulina Viva
- SPIFORM
- Spirulina La Capitelle
- Aurospirul
- Far East Microalgae Industries Co., Ltd
- Fuqing King Dnarmsa Spirulina Co. Ltd.
- DIC Corporation
- Cyanotech Corporation
- C.B.N. Bio-engineering Co., Ltd
- Yunnan Green A Biological Project Co., Ltd
- Jiangshan Comp Spirulina Co. Ltd
- Inner Mongolia Rejuve Biotech Co., Ltd.
- Zhejiang Binmei Biotechnology Co., Ltd.
- Bluetec Naturals Co., Ltd.
- Taiwan Chlorella Manufacturing Company
- Roquette Klötze GmbH & Co. KG
Market Segmentation
By Nature:
- Organic
- Conventional
By Application:
- Food & Beverage
- Dietary Supplements and Pharmaceuticals
- Animal & Aquaculture Feed Cosmetics and Personal Care
- Others
By Sales:
- Channel
- Direct Sales
- Retail Sales
- Modern Trade
- Specialty Stores
- Pharma & Drug Stores
- Online Retail
- Other Retailing Formats
By Region:
- North America
- Europe
- Latin America
- Asia Pacific
- Middle East and Africa
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Authored by:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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Demineralized Whey Powder Ingredient Market Outlook: From 2023 to 2033, the demineralized whey powder component market is estimated to grow at a CAGR of 5%. According to recent forecasts, the market value will rise from US$ 657 million in 2023 to US$ 1,086.7 million by 2033.
Superfood Powders Market Demand: The global superfood powders market is expected to exceed US$ 6.84 billion by 2023, with a 7% CAGR through 2033 to reach US$ 13.66 billion.
Achiote Powder Market Growth: The Global Industrial Achiote Powder market is predicted to grow at a CAGR of 4.2% over the forecast period. The market value is expected to rise from US$ 595.6 million in 2022 to US$ 898.7 million in 2032.
Fruit Powders Market Review: According to Future Market Insights (FMI), the fruit powder market is expected to develop at a 7.4% CAGR between 2023 and 2033. The fruit powder market is expected to grow from US$ 17.5 billion in 2033 to US$ 36.4 billion by 2033.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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