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Spirulina Market by Type, Application, and Drug Formulation: Global Opportunity Analysis and Industry Forecast, 2019-2026

  • ID: 4828562
  • Report
  • Region: Global
  • 210 pages
  • Allied Analytics LLP
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Spirulina is a natural algae powder known as cyanobacteria that comprises potent level of proteins, antioxidants, and vitamin B and other nutrients. Spirulina exhibits various benefits such as lowering of LDL and triglyceride levels and anticancer properties. It also reduces blood pressure, is effective against anemia, and improves muscle strength. The global spirulina market generated $346 million in 2018, and is projected to reach $779 million by 2026, growing at a CAGR of 10.6% from 2019 to 2026.

The increase in use of spirulina as a dietary food supplement, owing to its high nutritional content is the major factor that drives the spirulina market. Furthermore, increase in adoption of healthy food in developed countries fuel the market growth of spirulina in food & beverages. The rise in prevalence of cancer, cardiovascular diseases, immune diseases, and other diseases boosts the demand of spirulina.

Furthermore, increase in healthcare expenditure and disposable income among the population is anticipated to increase the market growth. However, limited resource of spirulina as it is extracted from the freshwater sources that are available in very few areas hinders the market growth. Emerging economies such as India, China, Mexico, and Brazil are anticipated to provide new opportunities for the market growth during the forecast period.

The global spirulina market is segmented into type, application, drug formulation, and region. By type, the market is bifurcated into Arthrospira Platensis and Arthrospira Platensis. Based on application, it is categorized into nutraceuticals, cosmetics, food & beverages, agriculture, feed, and others. Based on drug formulation, the spirulina market is categorized into powder, tablet & capsule, liquid, and granule & gelling agent. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

KEY BENEFITS FOR STAKEHOLDERS

This report highlights the market dynamics to understand the global spirulina market and capitalize on the prevailing opportunities.
Quantitative analysis of the current market and forecasts would assist stakeholders to design business strategies accordingly.
Porter's five forces analysis examines the competitive market structure and provides a deeper understanding of the influencing factors for entry and expansion.
Pin-point analysis of geographical segments offers identification of most profitable segments to capitalize on.

KEY MARKET SEGMENTS
  • By Type
o Arthrospira Platensis
o Arthrospira Maxima
  • By Application
o Nutraceuticals
o Food & Beverages
o Cosmetics
o Animal Feed
o Others
  • By Drug Formulation
o Powder
o Tablet & Capsule
o Liquid
o Granule & Gelling Agent
  • By Region
o North America
  • U.S.
  • Canada
  • Mexico
o Europe
  • Germany
  • France
  • Spain
  • Italy
  • UK
  • Rest of Europe
o Asia-Pacific
  • Australia
  • Japan
  • India
  • China
  • Rest of Asia-Pacific
o LAMEA
  • Brazil
  • Saudi Arabia
  • South Africa
  • Rest of LAMEA
KEY MARKET PLAYERS
  • Cyanotech
  • DIC Corporation
  • Chr. Hansen Holding A/S
  • Dongtai City Spirulina Bio-engineering Co., Ltd.
  • Algenol Biofuels Inc
  • Prolgae
  • Sensient Technologies Corporation
  • Parry Neutraceuticals
  • Algatec
The other players in the value chain include (profiles not included in the report):
  • GNC Holdings, Inc.
  • Now Health Group Inc.
  • Fuqing King Dnarmsa Spirulina Co.
  • Fraken Biochem Co., Ltd.
  • Far East Bio-Tec Co. Ltd.
Note: Product cover images may vary from those shown
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CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key benefits for stakeholders
1.3. Key market segments
1.4. Research methodology
1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models

CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings
2.1.1. Top impacting factors
2.1.2. Top investment pockets
2.2. CXO perspective

CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Parent Market Overview
3.3. Key Forces Shaping Spirulina Market
3.3.1. Low-to-high bargaining power of suppliers
3.3.2. Moderate-to-high threat of new entrants
3.3.3. Moderate threat of substitutes
3.3.4. Moderate intensity of rivalry
3.3.5. Low-to-moderate bargaining power of buyers
3.4. Pricing Analysis
3.4.1. Pricing Analysis, By Region, 2018 & 2025
3.5. Value Chain Analysis
3.6. Impact of government regulations on global spirulina market
3.7. Industry Pain point analysis
3.8. Patent Analysis
3.8.1. By Region (2016-2018)
3.8.2. By Applicant
3.9. Case Studies
3.9.1. Case Study 01
3.10. Market dynamics
3.10.1. Drivers
3.10.1.1. Rise in demand for natural ingredient
3.10.1.2. Promotion of the production of spirulina by government
3.10.1.3. R&D of spirulina as commercial products
3.10.2. Restraints
3.10.2.1. Impact on spirulina production due to climate change
3.10.3. Opportunities
3.10.3.1. Untapped markets in the developing countries
3.10.3.2. Easy to cultivate due to development in cultivation technology

CHAPTER 4: SPIRULINA MARKET, BY TYPE
4.1. Overview
4.1.1. Market size and forecast
4.2. Arthrospira Platensis
4.2.1. Key market trends and opportunities
4.2.2. Market size and forecast
4.2.3. Market analysis, by country
4.3. Arthrospira Maxima
4.3.1. Key market trends and opportunities
4.3.2. Market size and forecast
4.3.3. Market analysis, by country

CHAPTER 5: SPIRULINA MARKET, BY APPLICATION
5.1. Overview
5.1.1. Market size and forecast
5.2. Nutraceuticals
5.2.1. Key market trends and opportunities
5.2.2. Market size and forecast
5.2.3. Market analysis, by country
5.3. Cosmetics
5.3.1. Key market trends and opportunities
5.3.2. Market size and forecast
5.3.3. Market analysis, by country
5.4. Food and Beverages
5.4.1. Key market trends and opportunities
5.4.2. Market size and forecast
5.4.3. Market analysis, by country
5.5. Animal Feed
5.5.1. Key market trends and opportunities
5.5.2. Market size and forecast
5.5.3. Market analysis, by country
5.6. Other applications
5.6.1. Key market trends and opportunities
5.6.2. Market size and forecast
5.6.3. Market analysis, by country

CHAPTER 6: SPIRULINA MARKET, BY DRUG FORMULATION
6.1. Overview
6.1.1. Market size and forecast
6.2. Powder
6.2.1. Key market trends and opportunities
6.2.2. Market size and forecast
6.2.3. Market analysis, by country
6.3. Tablet & Capsule
6.3.1. Key market trends and opportunities
6.3.2. Market size and forecast
6.3.3. Market analysis, by country
6.4. Liquid
6.4.1. Key market trends and opportunities
6.4.2. Market size and forecast
6.4.3. Market analysis, by country
6.5. Granule & Gelling Agent
6.5.1. Key market trends and opportunities
6.5.2. Market size and forecast
6.5.3. Market analysis, by country

CHAPTER 7: SPIRULINA MARKET, BY REGION
7.1. Overview
7.1.1. Market size and forecast
7.2. North America
7.2.1. Key market trends and opportunities
7.2.2. North America market size and forecast, by type
7.2.3. North America market size and forecast, by application
7.2.4. North America market size and forecast, by drug formulation
7.2.5. North America market size and forecast, by country
7.2.5.1. U.S. market size and forecast, by type
7.2.5.2. U.S. market size and forecast, by application
7.2.5.3. U.S. market size and forecast, by drug formulation
7.2.5.4. Canada market size and forecast, by type
7.2.5.5. Canada market size and forecast, by application
7.2.5.6. Canada market size and forecast, by drug formulation
7.2.5.7. Mexico market size and forecast, by type
7.2.5.8. Mexico market size and forecast, by application
7.2.5.9. Mexico market size and forecast, by drug formulation
7.3. Europe
7.3.1. Key market trends and opportunities
7.3.2. Europe market size and forecast, by type
7.3.3. Europe market size and forecast, by application
7.3.4. Europe market size and forecast, by drug formulation
7.3.5. Europe market size and forecast, by country
7.3.5.1. France market size and forecast, by type
7.3.5.2. France market size and forecast, by application
7.3.5.3. France market size and forecast, by drug formulation
7.3.5.4. UK market size and forecast, by type
7.3.5.5. UK market size and forecast, by application
7.3.5.6. UK market size and forecast, by drug formulation
7.3.5.7. Italy market size and forecast, by type
7.3.5.8. Italy market size and forecast, by application
7.3.5.9. Italy market size and forecast, by drug formulation
7.3.5.10. Spain market size and forecast, by type
7.3.5.11. Spain market size and forecast, by application
7.3.5.12. Spain market size and forecast, by drug formulation
7.3.5.13. Rest of Europe market size and forecast, by type
7.3.5.14. Rest of Europe market size and forecast, by application
7.3.5.15. Rest of Europe market size and forecast, by drug formulation
7.4. Asia-Pacific
7.4.1. Key market trends and opportunities
7.4.2. Asia-Pacific market size and forecast, by type
7.4.3. Asia-Pacific market size and forecast, by application
7.4.4. Asia-Pacific market size and forecast, by drug formulation
7.4.5. Asia-Pacific market size and forecast, by country
7.4.5.1. Japan market size and forecast, by type
7.4.5.2. Japan market size and forecast, by application
7.4.5.3. Japan market size and forecast, by drug formulation
7.4.5.4. China market size and forecast, by type
7.4.5.5. China market size and forecast, by application
7.4.5.6. China market size and forecast, by drug formulation
7.4.5.7. India market size and forecast, by type
7.4.5.8. India market size and forecast, by application
7.4.5.9. India market size and forecast, by drug formulation
7.4.5.10. Australia market size and forecast, by type
7.4.5.11. Australia market size and forecast, by application
7.4.5.12. Australia market size and forecast, by drug formulation
7.4.5.13. South Korea market size and forecast, by type
7.4.5.14. South Korea market size and forecast, by application
7.4.5.15. South Korea market size and forecast, by drug formulation
7.4.5.16. Rest of Asia-Pacific market size and forecast, by type
7.4.5.17. Rest of Asia-Pacific market size and forecast, by application
7.4.5.18. Rest of Asia-Pacific market size and forecast, by drug formulation
7.5. LAMEA
7.5.1. Key market trends and opportunities
7.5.2. LAMEA market size and forecast, by type
7.5.3. LAMEA market size and forecast, by application
7.5.4. LAMEA market size and forecast, by drug formulation
7.5.5. LAMEA market size and forecast, by country
7.5.5.1. Brazil market size and forecast, by type
7.5.5.2. Brazil market size and forecast, by application
7.5.5.3. Brazil market size and forecast, by drug formulation
7.5.5.4. South Africa market size and forecast, by type
7.5.5.5. South Africa market size and forecast, by application
7.5.5.6. South Africa market size and forecast, by drug formulation
7.5.5.7. Rest of LAMEA market size and forecast, by type
7.5.5.8. Rest of LAMEA market size and forecast, by application
7.5.5.9. Rest of LAMEA market size and forecast, by drug formulation

CHAPTER 8: COMPANY PROFILES
8.1. Algenol Biofuels Inc.
8.1.1. Company overview
8.1.2. Company snapshot
8.1.3. Operating business segments
8.1.4. Product portfolio
8.2. Dongtai City Spirulina Bio-engineering Co, Ltd.
8.2.1. Company overview
8.2.2. Company snapshot
8.2.3. Operating business segments
8.2.4. Product portfolio
8.3. CHR. HANSEN HOLDING A/S
8.3.1. Company overview
8.3.2. CHR. Hansen: company Snapshot
8.3.3. Operating business segments
8.3.4. Product portfolio
8.3.5. Business performance
8.4. CYANOTECH CORPORATION
8.4.1. Company overview
8.4.2. Company snapshot
8.4.3. Operating business segments
8.4.4. Product portfolio
8.4.5. Business performance
8.5. DDW Inc.
8.5.1. Company overview
8.5.2. Company snapshot
8.5.3. Operating business segments
8.5.4. Product portfolio
8.6. DIC CORPORATION
8.6.1. Company overview
8.6.2. Company snapshot
8.6.3. Operating business segments
8.6.4. Product portfolio
8.6.5. Business performance
8.7. DÖHLER GMBH
8.7.1. Company overview
8.7.2. Company snapshot
8.7.3. Operating business segments
8.7.4. Product portfolio
8.8. FMC CORPORATION
8.8.1. Company overview
8.8.2. Company snapshot
8.8.3. Operating business segments
8.8.4. Product portfolio
8.8.5. Business performance
8.8.6. Key strategic moves and developments
8.9. Givaudan International SA
8.9.1. Company overview
8.9.2. Company snapshot
8.9.3. Operating business segments
8.9.4. Product portfolio
8.9.5. Business performance
8.9.6. Key strategic moves and developments
8.10. KONINKLIJKE DSM N.V.
8.10.1. Company overview
8.10.2. Company snapshot
8.10.3. Operating business segments
8.10.4. Product portfolio
8.10.5. Key strategic moves and developments
8.11. Prolgae
8.11.1. Company overview
8.11.2. Company snapshot
8.11.3. Operating business segments
8.11.4. Product portfolio
8.11.5. Business performance
8.12. SENSIENT TECHNOLOGIES CORPORATION
8.12.1. Company overview
8.12.2. Company snapshot
8.12.3. Operating business segments
8.12.4. Product portfolio
8.12.5. Business performance
8.13. E.I.D. Parry Limited
8.13.1. Company overview
8.13.2. Company snapshot
8.13.3. Operating business segments
8.13.4. Product portfolio
8.13.5. Business performance

*Full List of Tables and Figures Available on Enquiry.

Note: Product cover images may vary from those shown
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According to this report titled,'Spirulina Market by Type, Application, and Drug Formulation: Global Opportunity Analysis and Industry Forecast, 2019 - 2026,'the global spirulina market generated $346 million in 2018, and is projected to reach $779 million by 2026, growing at a CAGR of 10.6% from 2019 to 2026. The electroencephalography devices segment accounted for more than one-fifth of the total market share in 2017.

Spirulina is a filamentous and microscopic cyanobacterium and the name is derived from its spiral or helical filamentous structure. This alga has been used as a source of protein and vitamin supplement in humans without any significant side-effects. It has high content of protein of more than 70% along with vitamins, provitamin A, and minerals, especially iron. Spirulina comprises high anti-oxidant, hypolipidemic, beta-carotene, and anti-inflammatory properties. Owing to exceptional properties, spirulina offers health benefits including reduced cholesterol and blood pressure.

The global spirulina market size has witnessed significant growth in the past few years. The growth in awareness regarding the health benefits of spirulina superfood among consumers and a wide variety of natural colors produced by spirulina contribute toward the market growth. In addition, government of countries such as India and South Africa is promoting the production of spirulina considering its health benefits, which is further expected to boost the spirulina market growth during the forecast period. However, lower stability and poor sustainability of natural colors derived from spirulina as compared to synthetic colors and stringent government regulations are projected to hamper the market growth during the forecast period. Conversely, untapped markets in the developing countries are expected to offer remunerative opportunities for the market players in the near future.

Based on product type, the market is bifurcated into Arthrospira Platensis and Arthrospira Platensis. The Arthrospira Platensis segment had dominant market share in 2018 and is anticipated to remain its position during the forecast period, owing to different factors such as surge in healthcare awareness and incorporation of spirulina in diets as super food globally.

Among the different application where spirulina can be used, nutraceuticals sector accounts for the substantial market share and is estimated to lead the overall market in the coming years. This is attributable to the rise in concern regarding nutrition and health and increase in preference for natural alternatives to traditional pharmaceutical products. Spirulina is also largely used in food & beverage sector as it has a high content of natural pigments that impart blue color and is combined with other colors to obtain new customized colors such as lavender, violet, and green. Spirulina also finds its major application in the cosmetic & personal care industry. It is mainly used in cosmetic & personal care products especially for the anti-aging cream.

North America is expected to remain dominant throughout the forecast period due to its well-developed healthcare industry, presence of leading manufacturers in the region, high adoption rate of spirulina, and increase in demand for naturally derived food coloring agents in the region. However, Asia-Pacific is expected to experience the highest growth rate during the forecast period, as it offers lucrative opportunities for the market players due to significant growth of the food processing industry in the region.

The report provides a comprehensive analysis of the key players operating in the global Spirulina market, namely, Advanced Spirulina, Inc., CAS Medical Systems, Inc., Compumedics Ltd., General Electric Company (GE Healthcare), Koninklijke Philips N.V. (Philips Healthcare), Medtronic Plc., Natus Medical Incorporated, Neural Analytics, Inc., and Siemens AG.

The other players in the value chain include GNC Holdings, Inc., Now Health Group Inc, Fuqing King Dnarmsa Spirulina Co., Fraken Biochem Co., Ltd., and Far East Bio-Tec Co. Ltd.

Key Findings of the Spirulina Market:

Based on type, the Arthrospira Maxima segment is expected to experience rapid growth in the market and is projected to grow from 2019 to 2026.
Depending on application, the Nutraceuticals segment holds the highest share in 2018, and is anticipated to continue this trend during the forecast period.
By drug formulation, the powder segment was the major revenue contributor in 2018, and is anticipated to continue this trend during the forecast period.
U.S. generated the highest revenue in the global spirulina market in 2018, accounting for more than one fourth of the global market in 2018.
Asia-Pacific region is estimated to grow at the highest CAGR during the forecast period.
Note: Product cover images may vary from those shown
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The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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