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| Title | Spirulina Market Forecast and Analysis 2024: Market Size, Share, and Industry Dynamics |
|---|---|
| Category | Business --> Food and Related |
| Meta Keywords | Spirulina Market |
| Owner | cassie |
| Description | |
| Spirulina Market Overview: Spirulina Market Size was valued at USD 0.48 Billion in
2021. The Spirulina market industry is projected to grow from USD 0.56 Billion
in 2022 to USD 1.14 Billion by 2030, exhibiting a compound annual growth rate
(CAGR) of 9.28% during the forecast period (2022 - 2030) The health &
wellness industry's expansion, rising demand for natural food colors, rising
vegetarianism, and rising malnutrition are the primary factors driving the
growth of the Spirulina
Market. The increasing preference for spirulina-sourced products,
particularly those with pigments and omega-3 fatty acids, the expanding use of
spirulina in aquaculture diets, and the rise in the number of products
containing spirulina as an ingredient around the world are additional factors
that contribute to the market's expansion. The COVID-19 epidemic has harmed several economies
worldwide. Lockdowns and quarantines that were implemented countrywide as part
of the government's response to the COVID-19 epidemic had a detrimental effect
on several industries. Most food product firms in the F&B industry are
still impacted by COVID-19. Numerous businesses have had to shut their doors
due to social exclusion, self-isolation, and city-wide lockdowns in nations
throughout Asia, the U.S., Europe, and the rest of the world. Consumer food and
beverage product businesses face issues including drastically decreased
consumption and disturbed supply chains. Due to the lockdowns that have been
implemented in numerous nations, the food and beverage industry has experienced
a little dip. Key Players: Some of the Spirulina
Market Companies are Algenol Biofuels Inc., Cabassi & Giuriati Spa,
Cyanotech Corporation, Ddw Inc., Dic Corporation, Döhler Gmbh, Dongtai City
Spirulina Bio-Engineering Co, Ltd., Echlorial, E.I.D. Parry Limited, Givaudan
International Sa, Prolgae Spirulina Supplies Pvt. Ltd., Pond Technologies Inc.,
and Sensient Technologies Corporation. Regional Analysis: The North American Spirulina Market dominated the worldwide
spirulina market in 2021 as a result of growing consumer awareness of the
benefits of eating nutritious foods. Consumers are eating healthier meals at
higher rates. In 2019, grocery stores, other retailers, corporations, and governmental
organizations in the United States spent $1.77 trillion on food and drinks and
takeaways and snacks. Consumer interest in dietary products that enable them to
give more distinctive nutrition and achieve individual health objectives is
rising. The target market's enormous purchasing power and evolving lifestyle
trends are anticipated to have an impact on its growth. The rising demand for dietary supplements will likely cause
the Asia-Pacific’s target market to expand more quickly. The booming food and
beverage sector is anticipated to fuel the market's expansion, as will the
rising demand for goods with high levels of protein and antioxidants. The
proliferation of businesses operating in the region and developing novel
solutions to attract new clients are anticipated to fuel market expansion. In
2020, the international chemical firm DIC Corporation made its blue food coloring
"Linablue," which is produced from plants, and available in liquid
form. The product launch is anticipated to help the business expand and boost
its revenue share. Market Segmentation: The global Spirulina Industry
Segment on the basics of type, application, and product. The market has been segmented based on type into Arthrospira
platensis and Arthrospira maxima. Due to its improved ability to produce
biomass and affordability, the Arthrospira platensis species of spirulina is
being utilized extensively in a range of end-use applications and dominated the
market in 2021. Arthrospira maxima use is also likely to grow over the course
of the projected period at a moderate rate due to its rising uses in the food
industry. Based on application, the market has been segmented into
nutraceuticals, food & beverages, cosmetics, animal feed, and others. The
food & beverages segment dominated the market in 2021. Due to its
accessibility, sustainable production, exceptional nutritional and bioactive
characteristics, and acceptable functional properties, spirulina is becoming
increasingly popular as a food ingredient. The USFDA also authorized the use of
spirulina extract as a natural blue coloring agent in food and beverage
applications. The increased consumer preference for natural food over synthetic
food, combined with the health-promoting qualities of natural food colors, is
driving greater demand for spirulina natural food color. Based on the product, the market has been segmented into
powder, tablet & capsule, liquid, and granule & gelling agent. The
spirulina market's largest product category in 2021 was spirulina powder.
Manufacturers of nutraceuticals and culinary items are driving increased demand
for spirulina powder on the international market, where it is used in a variety
of recipes for salads, breakfast foods, desserts, and other foods as well as
used as a dietary supplement. Additionally, spirulina powder is added to beverages
like water, juice, and smoothies. It is sold worldwide through various
supermarkets, department stores, retailers, and online distribution channels. Related Reports: Essential
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Europa, Asien-Pazifik und Rest der Welt) - Prognose bis 2027 Gluten Free Oat Market: https://www.marketresearchfuture.com/reports/gluten-free-oat-market-35449 Gluten Free Prepared Food Market: https://www.marketresearchfuture.com/reports/gluten-free-prepared-food-market-35450 Gluten Free Soup Market: https://www.marketresearchfuture.com/reports/gluten-free-soup-market-35453 About Market Research Future: Market Research Future (MRFR) is a world-renowned market
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