New York, NY, May 02, 2023 (GLOBE NEWSWIRE) -- Polaris Market Research has published a new research report titled “Spirulina Protein Market Share, Size, Trends, Industry Analysis Report, By Species (Arthrospira Plantesis and Arthrospira Maxima); By Form; By Application; By Region; Segment Forecast, 2023-2032” in its research database.
“According to the latest research analysis, the global spirulina protein market size/share is anticipated to be valued at approximately USD 426.16 Million in 2022 and is projected to hit a revenue of around USD 1,036.98 Million By 2032, at a CAGR of around 9.3% between 2023 and 2032.”
What are Spirulina Proteins? How Big is Spirulina Protein Market Size & Share?
- Overview
Spirulina is a type of algae that people can consume as a dietary supplement. Spirulina is associated with many health benefits due to its nutritional content and powerful antioxidant characteristics. It’s a rich source of protein, vitamins, iron, Vitamin B-12, minerals, carotenoids, and antioxidants. Spirulina has a bitter flavor, so it is frequently blended with yogurts, juices, and smoothies to enhance flavor. Health food stores usually provide spirulina as a supplement.
Additionally, spirulina has an adequate amount of potassium, manganese, and magnesium as well as traces of nearly every other nutrient your consumer may require. Spirulina often comes in tablet, pill, and powdered form. Increasing consumption of various dietary supplements and growing demand for natural food colors and rising vegetarianism are prominent factors driving the spirulina protein market growth.
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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
Our Sample Report Covers:
- 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
- 115+ Pages Research Report (Inclusion of Updated Research).
- Provide Chapter-wise guidance on Requests.
- 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of tables & figures.
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
Some of the Top Market Players Are:
- Far East Bio-Tec
- Nutrex Hawaii
- Phycom Microalgae
- Cyanotech Corporation
- Yunna Green A Bio-Engineering
- Prolgae Spirulina Supplies
- Australian Spirulina
- Earthrise Nutritional
- DIC Corporation
- Algene Biotech
- Tianjin Norland Biotech
- Dongtai City Spirulina
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Key Growth Driving Factors
- Increasing demand for spirulina-sourced products: The market is majorly driven by the rising preference for spirulina-sourced products such as pigments and omega-3 fatty acids. Also, an increased number of product launches in the spirulina protein market is anticipated to open various growth opportunities in the foreseen period.
- Stringent regulations on synthetic colors and flavors: Several stringent regulations regarding the addition of synthetic colors and flavors in food products are estimated to drive the spirulina protein market growth. Several synthetic colors and flavors in food products are associated to potential health risks which has led several countries to implement regulations to limit or ban their use.
- Spirulina's pollutant-removing properties: Spirulina is majorly used in removing and transforming a wide range of pollutants, including nutrients, heavy metals, and xenobiotics which has enhanced the market growth in recent years. Its ability to absorb and transform pollutants has led to its use in a range of applications, including wastewater treatment, bioremediation, and animal feed supplementation.
- Growing demand for healthy food and supplements: Growing prevalence of chronic diseases, changes in consumer lifestyles, the surge in global population, and growing consumption of healthy food products and dietary supplements are some of the major factors supporting the industry growth.
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Top Findings of the Report:
- Rising demand for various dietary supplements and spirulina-sourced products is boosting the industry expansion
- The market is segmented based on species, form, application, and region.
- The spirulina protein market demand in the Asia Pacific region is growing at the fastest rate during the forecast period
Top Trends Influencing the Market
- Government support spirulina powder development: for Governments of various nations are encouraging the production of spirulina powder to expand the market and make a fair income source, majorly for the rural population which is one of the prominent spirulina protein market trends positively influencing the market growth.
- Product launch: In November 2022, GNT introduced a new powder that combines spirulina and turmeric as a part of its Exberry Coloring Foods range. The main objective of the powder is to provide vibrant shades of bluish-green in dry and powdered products such as bakery mixes and seasonings.
- Growing demand for algae-based products: The pharmaceutical and cosmetics industries are experiencing a significant increase in demand for algae-based products. This growth is attributed to the products' ability to enhance skin elasticity, supplement the skin, and stimulate the renewal of damaged skin cells. As a result, there is a growing need for these products across the globe.
Segmental Analysis
- Arthrospira plantesis segment accounted for the largest market share in 2022
Based on species, arthrospira plantesis category held the major spirulina protein market share in 2022 and is expected to maintain its dominance over the forecast. The key factors contributing to the segment growth include increasing healthcare awareness and the rising addition of spirulina in various diets as a supplement and as a whole food. Also, its availability in several forms such as flake, tablet, and powder is propelling the segment growth.
- Powder segment witnessed the highest market revenue share in 2022
On the basis of form spirulina protein market segmentation, powder category dominated the market in 2022 owing to the growing demand for spirulina powder from nutraceutical and food producers where it is majorly added in a variety of food recipes including breakfast meals, deserts, and many other food products. In addition, the increasing adoption of a number of natural and plant-based protein substitutes along with the rising emphasis of market key players on launching novel powder products is further expected to fuel the demand for spirulina powder across the globe.
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Spirulina Protein Market: Report Scope
| Report Attribute | Details |
| Revenue forecast in 2032 | USD 1,036.98 Million |
| Market size value in 2023 | USD 465.02 Million |
| Expected CAGR Growth | 9.3% from 2023-2032 |
| Base Year | 2022 |
| Forecast Year | 2023 – 2032 |
| Top Market Players | Far East Bio-Tec Co. Ltd., Nutrex Hawaii Inc., Phycom Microalgae, Cyanotech Corporation, Yunna Green A Bio-Engineering Co. Ltd., Prolgae Spirulina Supplies Pvt. Ltd., Fuqing King Dnarmsa Spirulina Co., Australian Spirulina, Earthrise Nutritional LLC, DIC Corporation, Algene Biotech, Tianjin Norland Biotech Co. Ltd., and Dongtai City Spirulina Co. Ltd. |
| Segments Covered | By Species, By Form, By Application, By Region |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Geographic Overview
Asia Pacific: By geography, Asia Pacific is expected to register major growth due to the rapid expansion of dietary supplement industry, the existence of a favorable climate across nations such as India, China, and Indonesia. Rising number of activities conducted and efforts taken by government to encourage the use of spirulina as well as undergoing study to analyze various application fields for spirulina are expected to boost the regional market growth.
North America: Moreover, this region held the greatest revenue share in the spirulina protein market in 2022 and is projected to continue its dominance over the predicted time frame. In addition, the presence of the world's top manufacturers, the availability of a well-developed healthcare system, and the demand for organically derived food coloring ants are fueling the market growth in North America.
Browse the Detail Report “Spirulina Protein Market Share, Size, Trends, Industry Analysis Report, By Species (Arthrospira Plantesis and Arthrospira Maxima); By Form; By Application; By Region; Segment Forecast, 2023-2032” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/spirulina-protein-market
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Recent Developments
- In March 2022, A blend of hemp protein, spirulina, and pea protein was recently unveiled by Cymbiotika. The new substance has been created to help the human immunological and digestive systems while boosting general performance and vigor. Three completely distinct proteins, fibre, digestive enzymes, and other ingredients make up the composition, which is a complicated powder.
- In August 2021, In India, Prolgae Spirulina Supplies unveiled their brand-new protein bar and sweet spirulina powder. The product is entirely vegan, which helps people maintain good health and immunity while enhancing their daily routines at work.
Some of The Important Questions Answered in the Market
- Which region offers the most rewarding open doors for the market?
- What are the business threats and variable scenarios concerning the market?
- Who are the significant players confronting and developing in the market?
- What is the projected size of the market?
- What are the opportunities and threats to which players are exposed in the market?
Polaris Market Research has segmented the spirulina protein market report based on species, form, application, and region:
By Species Outlook
- Arthrospira Plantesis
- Arthrospira Maxima
By Form Outlook
- Capsule
- Powder
- Tablets
By Application Outlook
- Dietary Supplements
- Functional Foods and Beverages
- Bakery & Confectionery
- Pharmaceuticals
- Animal Feed
- Cosmetics
- Others
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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