Global Spirulina Market By Type (Spirulina Platensis and Spirulina Maxima) By Form (Tablet & Capsule, Powder, Liquid, and Granule), By Distribution Channel (Direct Sales/B2B and Indirect Sales/B2C), By Application (Nutraceuticals, Food & Beverages, Cosmetics, Animal Feed, and Others), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Report Overview

In 2022, the Global Spirulina Market size was valued at USD 511.4 Million and is expected to reach USD 1,338.4 Million in 2032 Between 2023 and 2032, this market is estimated to register a CAGR of 10.1%.

Spirulina, classified as a multicellular and filamentous blue-green alga belonging to the Cyanophyceae class, has gained substantial recognition across diverse sectors such as health food, pharmaceuticals, aquaculture enhancement, and more. It stands out as a nutritional powerhouse and is even employed in space consumption as a calorie-dense capsule.

The surging demand for Spirulina is reinforced by its remarkable nutritional content, characterized by enriched levels of vitamins, proteins, and essential minerals. Its historical consumption spans raw form as well as processed foods and capsules, a practice that endures in several countries. Within its species spectrum, Spirulina platensis, the most widespread, predominantly thrives in Africa, Asia, and South America.

Conversely, Spirulina platensis finds its habitat mainly in Central America. The commercial production of Spirulina is centered in various countries, encompassing the United States, Thailand, India, Taiwan, China, Pakistan, and Myanmar.

The Spirulina market exhibits an intriguing landscape characterized by promising prospects and significant challenges. Growth in the market has been driven by the increasing focus on health and wellness, which has influenced consumer enthusiasm for natural, nutrient-packed food options.

Spirulina’s exceptional nutritional profile, brimming with proteins, vitamins, minerals, and antioxidants, positions it as a coveted superfood, carrying potential advantages that span from fortifying immunity to enhancing vitality.

Actual Numbers Might Vary in the Final Report

Key Takeaways

• Market Growth: In 2022, the Spirulina market was estimated at USD 511.4 million and projected to experience a compound annual growth rate of 10.1% between 2023-2032.
• Spirulina Overview: Spirulina is an extraordinary source of nutrition. Renowned for its exceptional levels of vitamins, proteins, and essential minerals it packs an exceptional punch when it comes to overall wellbeing.
• Global Distribution: Spirulina can be found commercially produced across numerous nations, such as Thailand, India, Taiwan China Pakistan, and Myanmar.
• Factors Driving the Increase in Demand: Spirulina’s increasing popularity stems from its recognition as a superfood with numerous health advantages, such as immune support, vitality enhancement, and nutrition supplementation.
• Nutraceuticals and Functional Food: Spirulina has gained widespread renown as an indispensable food resource due to its therapeutic qualities and a wide array of essential minerals and vitamins.
• Challenges to Awareness: Understanding Spirulina remains difficult due to limited public knowledge about its nutritional qualities, taste, and preparation methods. Some consumers remain unfamiliar with what Spirulina can provide them in terms of both taste and preparation methods.
• Form Popularity: Spirulina powder was the leader in market share among all forms in 2022 (66.3%) due to its versatility, ease of use, cost-effectiveness, and long shelf life.
• Spirulina Type: Spirulina Platensis is the predominant variety on the market due to its widespread availability, nutritional potency, and health-promoting qualities.
• Distribution Channels: Direct sales/B2B are the predominant means for dispensing Spirulina on the market, providing easy bulk procurement as well as custom orders tailored for different industries.
• Nutraceuticals Are In The Lead: Nutraceuticals held the largest market share among application segments (51.7%) in 2022 (51.7%) due to Spirulina’s unique nutritional qualities.
• Regulatory Opportunities: Constraints on synthetic colorants and flavors have provided opportunities to utilize Spirulina’s natural pigments in Spirulina as food coloring or flavors.
• Latest Trends: Spirulina continues its expansion into new areas of applications such as biofuel production and degradable packaging solutions, contributing towards sustainability.
• Regional Dominance: North America took the top position in 2022 for global market dominance owing to dietary supplement consumption among health-oriented consumers.
• Key Market Players: Prominent companies such as DIC Corporation, Cyanotech Corporation, Givaudan, Koninklijke DSM N.V. and Sensient Technologies Corporation play vital roles in Spirulina production and supply chains.

Driving Factors

Surging demand for Spirulina in nutraceutical and functional food sectors

The global Spirulina market is experiencing robust growth due to increased spirulina market demand from the pharmaceutical and nutraceutical sectors. The surge in popularity of Spirulina as a nutraceutical and functional food is attributed to its diverse range of therapeutic benefits within the healthy food domain.

Strengthened by its remarkable characteristics, Spirulina has gained acknowledgment from the United Nations as the “most ideal food for mankind,” it was endorsed as the “best food for the future” during the 1974 World Food Conference.

In the late 1980s and early 90s, esteemed institutions such as NASA and the European Space Agency (ESA) earmarked Spirulina as a pivotal dietary constituent for prolonged space missions. Amplifying its significance, the FDA has affirmed Spirulina as a paramount protein source.

Distinguished for its nutritional eminence, Spirulina is replete with a variety of indispensable nutrients, including carbohydrates, protein, β-carotene, γ-linolenic acid (GLA), vitamins, minerals, phytonutrients, sulpholipids, glycolipids, and superoxide dismutase. These elements, often lacking in conventional diets, synergistically contribute to Spirulina’s standing as a nutritional juggernaut.

Incorporating Spirulina into food products enhances their nutritional properties, resulting in functional foods that not only confer augmented nourishment but also a myriad of health benefits. This fusion of enhancing nutritional value while fostering well-being positions Spirulina as a propelling force in the market, catering to the escalating demand for health-focused dietary choices.

Restraining Factors

Less awareness about the benefits of Spirulina

The growth of the Spirulina market faces a notable challenge due to the limited awareness surrounding its benefits. Despite its remarkable nutritional and therapeutic qualities, a significant portion of the population remains unaware of its potential. The intricate composition of Spirulina and its diverse range of nutrients, such as protein, vitamins, minerals, and antioxidants, proves to be complex. Additionally, the integration of Spirulina into common diets is impeded by prevailing dietary preferences that lean toward more familiar nutritional sources.

Furthermore, misunderstandings about its taste, preparation methods, and potential drawbacks further dissuade potential consumers. These combined factors collectively create a barrier, limiting Spirulina’s entry into the mainstream market and hindering its ability to fully expose its market potential. Addressing this issue requires targeted educational initiatives, effective communication of its advantages, and innovative strategies to highlight its versatility and appeal, thereby clearing the path for Spirulina to attain the recognition of its qualities within the market.

Market Scope

By Form Analysis

The Powder Segment Held the Largest Market Share in 2022 owing to various benefits associated with it such as, versality, ease of use, cost-effective, and long-shelf life, among others.

Based on form, the market for Spirulina is segmented into powder, tablet & capsule, liquid, and granules. Among these, the powder segment was the most lucrative in the global Spirulina market share of 66.3% in 2022, and it is estimated to project a CAGR of 11.2%. Spirulina powder’s adaptability makes it seamlessly incorporate into various culinary applications, catering to diverse consumer preferences, spanning from smoothies to baked goods.

Its personalized dosing capacity allows users to fine-tune nutrient intake based on individual requirements. The powder’s easy blending into liquids and foods improves nutrient absorption efficiency, which is particularly valued by those prioritizing effective assimilation.

Furthermore, its cost-effectiveness in contrast to alternative formats enhances its attractiveness. The simplicity of adding a scoop of powder into daily meals aligns well with busy lifestyles, fostering consistent usage. Ultimately, Spirulina powder market prominence highlights its capability to accommodate a broad spectrum of consumer behaviors, establishing it as the preferred choice in the Spirulina market.

By Type Analysis

The Spirulina Platensis Segment is Dominant in the Global Spirulina Market due its established renown for nutritional potency, multifaceted applicability, and extensive acknowledgment of its potential health-enhancing properties.

By type, the market is further divided into Spirulina Platensis and Spirulina Maxima. Among these types, Spirulina Platensis held the largest market share in 2022. Platensis, the most prevalent and easily accessible Spirulina species, which plays a pivotal role in research and public health discussions due to its widespread presence. Thriving in aquatic habitats, this species offers convenient cultivation, harvesting, and processing methods, as well as substantial macro & micronutrient content.

Moreover, various African countries rely on it as a crucial protein source, harvested from natural water sources, dried, and consumed. Its popularity has surged in the human health food sector, particularly as a protein supplement in numerous Asian nations. Additionally, Platensis is a valuable additive in poultry feed and is increasingly being integrated as a protein and vitamin enhancer in aquafeeds, owing to its versatile utility in animal nutrition.

By Distribution Channel

The Direct Sales/B2B Segment Dominated the Global Spirulina Market In 2022 owing to its pivotal role in the provision of substantial volumes of spirulina products to diverse sectors, including the food, nutraceuticals, and cosmetics industries

Based on the distribution channel, the market is further segmented into direct sales/B2B and indirect sales/B2C. The dominance of direct sales in the Spirulina market stems from its effectiveness in catering to industries and businesses. This approach facilitates bulk procurement, efficiently supplying Spirulina to manufacturers and processors to meet production demands consistently.

Direct sales also enable tailored orders, aligning quantities, packaging, and formulations with specific industry needs. This strategy often leads to cost savings by eliminating intermediaries and streamlining the procurement process. Furthermore, direct sales foster enduring partnerships, collaborations, and relationships between Spirulina producers and industries, propelling joint ventures and innovative endeavors.

By Application

The Nutraceuticals Segment Dominated the Global Spirulina Market In 2022 due to several nutritious characteristics associated with it

Based on application, the market for Spirulina is segmented into nutraceuticals, food & beverages, cosmetics, animal feed, and others. Among these, the nutraceuticals segment was the most lucrative in the global Spirulina market, with a market share of 51.7% in 2022. Spirulina serves as an extraordinary nutritional source, is rich in benefits, and applicable as a “Superfood” both on Earth and in space.

It emerges as a potential remedy for oxidative stress-linked ailments, with research highlighting its therapeutic potential, encompassing cholesterol reduction, protection against specific cancers, immune system reinforcement, promotion of intestinal lactobacilli, alleviation of nephrotoxicity from heavy metals and drugs, radiation shielding, and management of hyperlipidemia and obesity.

Its adaptability extends to weight loss formulations and aids in overcoming drug dependencies. Primarily, Spirulina’s robust nutritional composition has led to its preference as capsule-form space sustenance. Filled with essential nutrients crucial for human growth, Spirulina emerges as a holistic source of nourishment. This, in turn, would positively influence the global Spirulina market growth.

Key Market Segments

Based on Form

• Powder
• Tablet & Capsule
• Liquid
• Granules

Based on Type

• Spirulina Platensis
• Spirulina Maxima

Distribution Channel

• Direct Sales/B2B
• Indirect Sales/B2C
  • Supermarkets/Hypermarkets
  • Specialty Stores
  • Online Retail
  • Others

Application

• Nutraceuticals
• Food & Beverages
• Cosmetics
• Animal Feed
• Others

Growth Opportunities

Regulatory constraints on synthetic colorants and flavors propel spirulina pigment utilization.

The constraints imposed by regulations on synthetic colorants and flavors in the food and beverage sector create a significant opportunity for the Spirulina market. As consumers increasingly gravitate towards natural and healthier options, the vivid blue-green pigment found in Spirulina, derived from its innate composition, emerges as an appealing remedy.

Regulatory bodies have intensified scrutiny and authorization processes for such ingredients because of concerns about potential health hazards linked to synthetic additives. Consequently, there is a growing demand for natural colorants and flavors capable of representing the desired visual and taste attributes without compromising safety.

Latest Trends

The emergence of new application areas

Spirulina, recognized as the ‘Food for the future,’ has also earned the title ‘Biofuel of the future.’ Algae’s historical significance in Earth’s self-regulation is profound. Their myriad applications have sparked an innovative vision, leveraging them to restore deserts, enrich depleted soils, and cleanse oceans, progressing towards a more sustainable and practical business model.

Advancements in comprehending Spirulina’s extraordinary traits are poised to drive transformative breakthroughs such as biofuel and biodegradable packaging. These innovations echo life’s essence, contributing to personal and planetary well-being and revival. Spirulina’s adaptability can potentially cut production costs by substituting fossil fuel-based chemicals with biopolymers and bioplastics, offering a promising trajectory.

Regional Analysis

North America is the Dominant Region in the Global Spirulina Market due to the Increasing Demand For Dietary Supplements Among the conscious And Aging Population.

In 2022, North America held the leading position in the global market, with a market share of 35.2%. The North American Spirulina market exhibits a dynamic landscape propelled by a rising focus on health consciousness and the escalating demand for natural nutritional supplements.

As a nutrient-abundant superfood, Spirulina’s harmonizes with consumers’ pursuit of improved well-being. The region boasts a robust awareness of the advantages associated with health, including bolstered immunity and augmented protein intake, effectively driving the widespread popularity of Spirulina.

Furthermore, stringent regulatory controls on synthetic additives in Europe and the Asia Pacific within the food and beverage sector augment the attraction of Spirulina’s vivid blue-green pigment, which serves as an appealing natural colorant and flavor enhancer. The prevailing clean label trend, emphasized by the impact of the COVID-19 pandemic, further amplifies Spirulina’s foothold in the market.

The competitive arena is characterized by prominent industry players leveraging Spirulina’s potential through inventive product strategies and strategic collaborations. Europe’s and Asia Pacific’s well-established framework for health and wellness products also fosters the market’s growth.

Key Regions and Countries

• North America
  • The US
  • Canada
• Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Russia & CIS
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • ASEAN
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of MEA

Key Players Analysis

Several key players who influence the industry significantly drive the global Spirulina market. DIC Corporation, Cyanotech Corporation, Givaudan, Koninklijke DSM N.V., and Sensient Technologies Corporation are the major players known for their diversified Spirulina production and supply chain network.

These key players and other industry participants collectively influence the Spirulina market’s growth, supply, and demand dynamics. Their continuous innovation, expansion, and market strategies contribute significantly to the industry’s development.

Market Key Players

• Cyanotech Corporation
• Givaudan
• Koninklijke DSM N.V.
• Sensient Technologies Corporation
• DIC Corporation
• eChlorial
• Giuriati Group
• Algenol Biotech
• Pond Technologies Inc.
• I.D. – Parry (India) Limited
• Life vision Healthcare
• NB Laboratories Pvt Ltd
• Other Key Players

Recent Developments

• In Nov 2022, The GNT Group introduced an expansion to its selection of green EXBERRY Coloring Foods, unveiling a freshly powdered variant created from a combination of turmeric and spirulina. This new addition, known as EXBERRY Shade Bright Green Powder, is meticulously crafted to provide vibrant, bluish-green tones in dry and powdered applications, including bakery mixes and seasonings.

• In Sept 2022, DIC Corporation announced to invest roughly US$ 9.0 million in environmental initiatives at its subsidiaries: Earthrise Nutritionals, LLC, located in California, USA, and Hainan DIC Microalgae Co., Ltd., situated in the People’s Republic of China (PRC). Both of these subsidiaries are engaged in the production of edible blue-green algae Spirulina, as well as the creation of LINABLUE, a natural blue food coloring derived from Spirulina. The overarching aim of these environmental investments, encompassing past and forthcoming efforts, is to facilitate the achievement of a significant objective. This objective involves ensuring that both companies achieve a notable environmental milestone by eliminating the discharge of wastewater from their outdoor algae cultivation facilities by January 2023.

Report Scope