Pune, India -- (SBWire) -- 12/17/2019 --The Infinium Global Research analyzes the "Spirulina Market (Type - Arthrospira Platensis, and Arthrospira Maxima; Application - Food and Beverages, Animal Feed, Nutraceuticals, Cosmetics, and Other Application; Drug Formulation - Tablet and Capsule, Powder, Liquid, and Granule & Gelling Agent): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025."
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The Growing Awareness About the Health Benefits of Spirulina Superfood is Creating an Opportunity for the Growth of the Spirulina Market
Growing demand for natural food colors, increasing vegetarianism, and growing malnutrition across the globe are the factors significant drivers for the growth of the spirulina market. Increasing demand for spirulina powder among vegetarian consumers is another factor that fuels the growth of this market, as spirulina is a 100% vegetarian dietary supplement.
In addition, a rise in the demand for cyanobacteria due to their contribution to weight reduction also boosts market growth globally. Raise of the production of spirulina by government, and research and development activities for making spirulina as commercial products have also fueled the growth of the global spirulina market.
Furthermore, strict regulations regarding the inclusion of artificial colors and flavors also help in driving the growth of the spirulina market across the globe. Therefore, several health advantages related to the use of spirulina over synthetic food colors also play a key factor in driving the growth of the global spirulina market. The growing use of spirulina in cosmetics is even driving the growth of the market across the globe.
However, the high cost associated with the production of spirulina combined with low stability of spirulina may hamper the growth of the market during the forecast period. Growing awareness about the health benefits of spirulina superfood among consumers and a wide variety of natural colors produced by spirulina creates an opportunity for the growth of the market in the upcoming years.
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Arthrospira Segment is Estimated to Lead the Overall Spirulina Market During the Forecast Period
The report on the spirulina market covers segments based on type, application, and drug formulation. By type, the global spirulina market is bifurcated into arthrospira platensis and arthrospira maxima. Arthrospira segment holds a large market share and is estimated to lead the overall spirulina market in the upcoming years due to the rush in healthcare awareness and incorporation of spirulina in diets as superfood across the globe.
Based on the application, the market is further segmented into food and beverages, nutraceuticals, animal feed, cosmetics, and other applications. Based on drug formulation, the spirulina market is divided into tablets and capsules, liquid, powder, and granule & gelling agents.
North America is Leading the Global Spirulina Market Due to its Growing Awareness Among Consumers
Based on the region, the spirulina market analysis is conducted across North America, Europe, Asia-Pacific, and the rest of the world. Among all, North America is leading the global spirulina market due to its growing awareness among consumers for natural food products, growth of subsidiary industries like cosmetics and biofertilizers, increasing preference for plant protein sources, and rising regulations against synthetic colors. Asia-Pacific is expected to grow at the highest CAGR over the forecast period due to beneficial opportunities for the market players to the robust growth of the food processing industry in the region.
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Spirulina Market: Competitive Analysis
The leading players in the spirulina market are Chr. Hansen Holding A/S, Fuqing King Dnarmsa Spirulina Co. Ltd, Cyanotech Corporation, Sensient Technologies Corporation, DIC Corporation, Algenol Biofuels Inc., Naturex S.A, Sunrise Nutrachem Group Co. Ltd., DDW The Color House, Parry Neutraceuticals, and Other companies.
Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the spirulina.
=> Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
