NEW DELHI, July 17, 2019 /PRNewswire/ -- According to a new report Global Spirulina Market, published by KBV research, The Global Spirulina Market size is expected to reach $651 Million by 2025, rising at a market growth of 10.6% CAGR during the forecast period. Factors such as the introduction of new varieties of natural food colors produced from spirulina, natural health benefits of spirulina superfood, and several government initiatives for facilitating the production of spirulina, are expected to boost the growth of the global spirulina market over the forecast period.
The North America market dominated the Global Arthrospira Platensis Market by Region in 2018, growing at a CAGR of 8.5 % during the forecast period and is expected to remain dominant throughout the forecast period. This is attributed to its increasing demand for naturally derived food coloring agents in the region. The Europe market is expected to witness a CAGR of 8.7% during (2019 - 2025). Additionally, The Asia Pacific market is expected to witness a CAGR of 10.6% during (2019 - 2025).
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The Nutraceuticals market dominated the Global Spirulina Market by Application in 2018, , growing at a CAGR of 9.7 % during the forecast period. The Cosmetics market is expected to witness a CAGR of 12.8% during (2019 - 2025). Spirulina is also majorly being used in the food & beverage sector as it contains a high content of natural pigments which imparts blue color and is combined with other colors to obtain new customized colors like lavender, violet, and green. It also finds its major application in the cosmetic & personal care industry.
The Powder market dominated the Global Spirulina Market by Drug Formulation in 2018, growing at a CAGR of 9.9 % during the forecast period. The Tablet & Capsule market is expected to witness highest CAGR of 10.1% during (2019 - 2025).
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The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Cyanotech Corporation, DIC Corporation, Chr. Hansen Holding A/S, Algenol, LLC, Prolgae Spirulina Supplies Pvt. Ltd., Sensient Technologies Corporation, DDW, Inc., GNC Holdings, Inc., NOW Foods, Inc. and Sunrise Nutrachem Group Co. Ltd.
Global Spirulina Market Segmentation
- Arthrospira Platensis
- Arthrospira Maxima
- Food and Beverages
- Animal Feed
- Other Applications
By Drug Formulation
- Tablet & Capsule
- Granule & Gelling Agent
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Cyanotech Corporation
- DIC Corporation
- Chr. Hansen Holding A/S
- Algenol, LLC
- Prolgae Spirulina Supplies Pvt. Ltd.
- Sensient Technologies Corporation
- DDW, Inc.
- GNC Holdings, Inc.
- NOW Foods, Inc.
- Sunrise Nutrachem Group Co. Ltd.
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SOURCE KBV Research