Meticulous Research® in collaboration with the European Algae Biomass Association (EABA), published a new market research report titled, “Spirulina Market by Distribution Channel (Consumer Channel, Business Channel), Product Type (Powder, Tablets, Capsules, Flakes, Phycocyanin Extract), and Application (Nutraceuticals, Food & Beverages, Agriculture, Animal Feed)- Global Forecast to 2025”. Combining Meticulous Research®’s market intelligence services with EABA’s broad expertise in the development of research, technology, and industrial capacities in the field of spirulina, the two organizations have leveraged their research capabilities to come up with the most reliable and accurate market assessments in this field.
According to the report, the global spirulina market is expected to grow at a CAGR of 9.4% from 2019 to reach $629.6 million by 2025. In terms of volume, the spirulina market is expected to grow at a CAGR of 13.6% from 2019 to reach 68,025.2 tons by 2025.
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The growth of the spirulina market is mainly attributed to growing health & wellness trends and dietary supplements industry, growing demand for natural food colors, increasing vegetarianism, and growing malnutrition. Moreover, factors such as stringent regulations regarding the inclusion of synthetic colors and flavors; increasing preference for spirulina sourced products, especially pigments and omega-3 fatty acids; growing use of spirulina in aquaculture diets; and increase in number of products that include spirulina as ingredients across the globe further support the growth of the global spirulina market.
Spirulina is very sensitive to different frameworks and its price depends on the various factors such as quantity, drying process, form, packaging, certification, origin, quality/contamination, negotiation capacity, and specific spirulina (if enriched with selenium, it is more expensive). The prices have dropped in the last few years, as the production systems have become scalable; however, production costs are still high in developed countries as compared to emerging countries due to unfavorable climatic conditions and the use of expensive production technologies.
The global spirulina market study presents historical market data in terms of value (2017 and 2018), estimated current data (2019), and forecasts for 2025-by distribution channel (consumer channel, business channel), product type (powder, tablets, capsules, flakes, and phycocyanin extract), and application (nutraceuticals, food & beverages, agriculture, animal feed, and cosmetics). The study also evaluates industry competitors and analyzes the market at a regional and country level.
The key players operating in the global spirulina market are Earthrise Nutritional, LLC (U.S.), DIC Corporation (Japan), Yunnan Green A Bio-engineering Co., Ltd (China), Algene Biotech (India), Tianjin Norland Biotech Co., Ltd. (China), Pondicherry Spirulina Farms (India), Cyanotech Corporation (U.S.), E.I.D. Parry (I) Ltd. (India), Far East Bio-Tec. Co. Ltd. (China), Fuqing King Dnarmsa Spirulina Co., Ltd. (China), Dongtai City Spirulina Bio-engineering Co., Ltd. (China), and Australian Spirulina (Australia) among others.
Browse key industry insights spread across 263 pages with 195 market data tables & 55 figures & charts from the market research report: https://www.meticulousresearch.com/product/spirulina-market-5070/
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