Redding, California, May 08, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled ‘Europe Spirulina Market by Product Type (Powder, Tablets, Capsules, Flakes, Phycocyanin), Distribution Channel (Business Channel, Consumer Channel), Application (Nutraceuticals, Food & Beverages, Animal Feed, Cosmetics, Agriculture)—Forecast to 2030,’ in terms of value, the Europe spirulina market is expected to reach $156.61 million by 2030, at a CAGR of 13.3% from 2023 to 2030, while in terms of volume, the market is expected to reach 8,308.8 tons by 2030, at a CAGR of 7.5% from 2023 to 2030.
Spirulina is a spiral-shaped microalga that grows naturally in the wild in warm and freshwater lakes. Spirulina is a type of blue-green algae that is often consumed as a dietary supplement. It is a rich source of protein, vitamins, and minerals and is often used as a natural remedy for a variety of health conditions. Spirulina contains approximately 60-70% protein. It's also a good source of several nutrients, including vitamin B, beta-carotene, vitamin E and gamma-linolenic acid, an essential fatty acid. It has powerful anti-oxidant, anti-cancer, and anti-inflammatory properties. It is also effective against anemia and controlling blood sugar. Owing to all these properties, spirulina is considered today’s superfood.
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The major factors driving the growth of the Europe spirulina market include the increasing health & wellness trends and the growing food supplements industry, the rising demand for natural food colors, the positive environmental impact of spirulina cultivation, strict regulations for the use of synthetic colors and flavors, the growing preference for spirulina-sourced products, and the increasing use of spirulina in aquaculture.
Furthermore, the growing demand for phycocyanin and increasing consumer awareness regarding clean-label products are expected to provide significant opportunities for the growth of this market. However, the low awareness regarding the benefits of spirulina and the complexities in algae production hinder the growth of this market.
The Europe spirulina market is segmented by product type, distribution channel, application, and geography.
Based on product type, the Europe spirulina market is segmented into powder, tablets, capsules, flakes, phycocyanin, and frozen spirulina. In 2023, the powder segment is expected to account for the largest share of the Europe spirulina market. The large market share of this segment is attributed to the rising demand for spirulina powder among nutraceutical manufacturers due to growing health consciousness among consumers, the increasing use of spirulina powder as an ingredient in various food & beverage products, the growing popularity of vegan diet, and the increasing incorporation of herbal ingredients in cosmetic products.
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Based on distribution channel, the Europe spirulina market is segmented into business channel and consumer channel. In 2023, the business channel segment is expected to account for the larger share of the Europe spirulina market. The large market share of this segment is attributed to the direct purchase of large quantities of spirulina by nutraceutical, food & beverage, and animal feed manufacturers, among others, from the business channel for further product development. Moreover, it is also expected to witness significant growth during the forecast period.
Based on application, the Europe spirulina market is segmented into nutraceuticals, food & beverages, animal feed, cosmetics, and agriculture. In 2023, the nutraceuticals segment is expected to account for the largest share of the Europe spirulina market. The large market share of this segment is attributed to the booming nutraceuticals sector, growing health concerns of the aging population in various countries, growing desire for natural alternatives to traditional pharmaceutical products, and increased awareness among consumers on the link between nutrition and health.
Moreover, it is also expected to witness significant growth during the forecast period, owing to the rising demand for functional and healthy foods and the growing prevalence of lifestyle-related diseases & people taking preventive healthcare measures.
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Based on geography, in 2023, France is expected to account for the largest share of the Europe spirulina market. France's major market share is attributed to the scientific and technological developments in microalgae research for various healthy foods and dietary supplements, growing awareness among consumers for natural food products, increasing rates of chronic diseases such as obesity, diabetes, and heart disease, and rising stringent regulations against synthetic colors.
The key players operating in the Europe spirulina market are DIC Corporation (Japan), E.I.D. - Parry (India) Limited (A Subsidiary of M/S. Ambadi Investments Limited) (India), C.B.N. Bio-Engineering Co., Ltd (China), Givaudan SA (Switzerland), Fuqing King Dnarmsa Spirulina Co., Ltd. China), Zhejiang Binmei Biotechnology Co., Ltd. (China), Cyanotech Corporation (U.S.), JIANGSHAN COMP SPIRULINA CO., LTD (China), TAIWAN WILSON ENTERPRISE INC. (Taiwan), Bluetec Naturals CO., LTD. (China), AlgoSource (France), Far East Microalgae Industries, Co., Ltd. (FEMICO) (Taiwan), Far East Bio-Tec. Co., Ltd. (FEBICO) (Taiwan), Necton S.A. (Portugal), YUNNAN GREEN A BIOLOGICAL PROJECT CO., LTD. (Yunnan Spirin Biotechnology Co. Ltd) (China), Inner Mongolia Rejuve Biotech Co., Ltd. (China), Taiwan Chlorella Manufacturing Company (TCMC) (Taiwan), Roquette Klötze GmbH & Co. KG (Germany), Tianjin Norland Biotech Co., Ltd (China), Allmicroalgae Natural Products S.A. (Portugal), Qingdao Haizhijiao Biotechnology Co., Ltd (China), BlueBioTech Group (Germany), Aliga Microalgae (Denmark), SPIFORM (France), Vedan Biotechnology Corporation (Taiwan), ALGALIMENTO SL (Spain), Aurospirul (India), Hangzhou OuQi Food co., Ltd. (China), Clos Sainte Aurore (France), Sea & Sun Organic GmbH (Subsidiary of Sea & Sun Technology GmbH) (Germany), Pond Technologies Inc. (Canada), Xi’an Fengzu Biological Technology Co., Ltd.(FZBIOTECH)(China), and Spirulina La capitelle (France).
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Scope of the Report:
Europe Spirulina Market Assessment—by Product Type
- Powder
- Tablets
- Capsules
- Flakes
- Phycocyanin
- Frozen Spirulina
Europe Spirulina Market Assessment—by Distribution Channel
- Business Channel
- Consumer Channel
Europe Spirulina Market Assessment—by Application
- Nutraceuticals
- Food & Beverages
- Animal Feed
- Cosmetics
- Agriculture
Europe Spirulina Market Assessment—by Geography
- France
- Germany
- U.K.
- Italy
- Spain
- Netherlands
- Denmark
- Sweden
- Rest of Europe (RoE)
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