The size of the world spirulina powder market in 2019 was $358 USD. During the forecast period of 2019–2029, it is expected to increase at a CAGR of 6%. During the anticipated timeframe, demand for organic spirulina powder is anticipated to increase quickly. The significant increase in interest in natural ingredients is primarily responsible for the significant growth in sales of organic spirulina powder. Customers like additive- and chemical-free natural and organic products.
- Demand for spirulina powder is growing rapidly as it is the super-food, which contains highest amount of protein found in any natural grown food. It also contains highest amount of vitamins, minerals and other essential nutrients, which makes it an ideal dietary supplement. Spirulina powder contains vitamin A, B, C, E, & K, and minerals such as magnesium, calcium, sodium, iron, phosphorus, zinc and manganese.
- Sales of Spirulina is increased in past three years due to a positive perception towards the super-food, which consists of enormous amount of nutritional contents. Around 4 gram (1 teaspoon) of Spirulina can give sufficient quantity of protein, vitamin and minerals, which is generally obtained from food consumed in a whole day.
Organic and natural formulations have been consistently increasing trend since the past decade, and the trend is expected to continue over the forecast period. As per the USDA, over 75% of the grocery stores carried organic products in the year 2013. The demand for organic spirulina powder is growing as compared to conventional spirulina powder.
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In 2013, the U.S FDA approved the use of natural colorant made from spirulina. Multiple companies across the globe are producing natural colorant from spirulina such as Blue, Red, Green and Brown. In Europe, ESPA banned the use of synthetic colorant in food products, which helped spirulina powder to gain momentum in the natural colorant market.
Rising Use of Spirulina Powder in the Cosmetic & Personal Care Industry
Spirulina powder contains antioxidants and anti-inflammatory properties, which is witnessing a high growth in the cosmetic industry. Spirulina powder contains vitamins such as A, C & E in large quantities that are antioxidants and provide nourishment to the skin, due to which it is used in moisturizing and skin care creams.
Manufacturers have started using micro-algae in skin problems such as anti-aging, tanning, and pigmentation issues. Spirulina powder is used in anti-aging creams, skin whitening creams and pigmentation reducing products. Spirulina powder also has anti-cancer properties, which will boost the demand of its cosmetic products, as people prefer to take treatment which doesn’t require consumption of medicines.
Cost-Effectiveness
Despite the rise and fall of spirulina production globally, prices are maintained at an optimum level with a variance in prices of maximum 15% year on year. Multiple factors play an important role in identification of market prices such as spirulina powder production cost, processes used, labor cost, electricity and water cost, transportation cost and much more. Due to a subtle process by which manufacturers produce low processing cost, the Spirulina products such as spirulina powder are also found to be cost-effective and benchmark with its parent market prices. Various manufacturers are focused toward providing spirulina powder at an optimum price, owing to their high demand among consumers. Different companies have implemented integrated production approach to deliver cost-effective products.
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The global spirulina powder market is segmented in detail to cover every aspect of the market and present complete market intelligence to the reader.
By Nature
- Organic
- Convention
By Application
- Food & Beverage
- Dietary Supplements & Pharmaceuticals
- Animal & Aquaculture Feed
- Cosmetics & Personal Care
- Others
By Sales Channel
- Direct Sales
- Retail Sales
- Modern Trade
- Specialty Stores
- Pharma & Drug Stores
- Online Retail
- Other Retailing Formats
Usage of Spirulina Powder in Fish and Animal Feed Creating Demand
Spirulina powder has found application in animal feed, pet food and fish food since, animals and pets can easily digest spirulina powder and even don’t get any allergy or medical problems after consuming spirulina powder. Spirulina powder, which is rich in protein, vitamin and minerals can increase the health of animals & fish and also help in fighting various medical problems in animals. Spirulina powder is used as food for fish for several years due to the food preference, which also reduces the cost of production of fish at commercial scale. Use of Spirulina powder as a food for animals and fish is increasing and which is creating a demand for the product and helps in the overall development of food chain.
This study by FMI offers insights into the spirulina powder market for the forecast period of 2019-2029. The spirulina powder market is projected to record a CAGR of ~6% during the predefined period.
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