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Spirulina Market by Type (Arthrospira Platensis and Arthrospira Maxima), Application (Nutraceuticals, Cosmetics, Food & Beverages, Animal Feed, and Others), and Drug Formulation (Powder, Tablet & Capsule, Liquid, and Granule & Gelling Agent): Global Opportunity Analysis and Industry Forecast, 2019–2026

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LI_184222
Pages: 210
May 2019 | 3509 Views
 
Author(s) : Tenzin Kunsel , Onkar Sumant
Tables: 123
Charts: 43
 

Spirulina Market Outlook - 2026

Spirulina is multicellular and filamentous blue-green microalgae that grow naturally in the alkaline waters of lakes, ponds, and rivers in warm regions. These microalgae can be harvested and processed easily and have significantly high macro- and micronutrient contents. Owing to the use of spirulina as protein supplement and as human health food, it has gained considerable popularity in the human health food industry and in many developing and under-developed countries such as India and Africa, where there is prevalence of malnutrition. These microalgae can also be used as a complementary dietary ingredient of feed for poultry and are increasingly being used as a protein and vitamin supplement for fishes. The global spirulina market size was $346 million in 2018, and is projected to reach $779 million by 2026, growing at a CAGR of 10.6% from 2019 to 2026.

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Spirulina is among the oldest life forms on Earth responsible for producing oxygen in the planet's atmosphere. It is termed as a superfood and one of the most nutrient-rich foods on Earth. It contains around 55 to 70% protein, high levels of gamma-linolenic acid (GLA), beta carotene, nucleic acids DNA & RNA, chlorophyll, 8 essential and 10 non-essential amino acids, and others.

Rise in the demand for cyanobacteria due to their contribution in weight reduction and increasing number of health clubs and fitness centers are expected to boost growth of the spirulina market share in the coming years. Health benefits of cyanobacteria have helped them to find usage in desserts, smoothies, juices, salads, and breakfast meals. The skin and hair care market demands spirulina powder as an inclusion in various treatments, including anti-aging, wrinkles, grey hair, hair loss, and allergies. In the medical industry, spirulina powder is used in a range of treatments along with a number of pharmaceutical products. 

The global spirulina market size is expected to be fueled in the near future, owing to growing awareness regarding the health benefits of spirulina superfood among consumers and wide variety of natural colors produced by spirulina. In addition, the government of countries such as India and South Africa are promoting the production of spirulina, considering its health benefits, which helps to fuel the spirulina market growth. However, lower stability and poor sustainability of natural colors derived from spirulina as compared to synthetic colors and stringent government regulations are expected to hamper the market growth during the forecast period. Conversely, untapped markets in the developing countries are expected to provide lucrative opportunities for the market players. The impact of the driving factors is expected to surpass that of the restraints.

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Type segment review

Based on product type, the spirulina market is segmented into Arthrospira Platensis and Arthrospira Platensis. The Arthrospira Platensis segment was the major revenue contributor in 2018 and is anticipated to remain dominant during the forecast period, owing to different factors such as surge in healthcare awareness and incorporation of spirulina in diets as super food globally.

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Application segment review

Based on application, the spirulina market is categorized into nutraceuticals, cosmetics, food & beverages, agriculture, feed, and others. Nutraceuticals sector accounts for the substantial market share and is estimated to lead the overall spirulina market in the coming years. This is attributable to the rise in concern regarding nutrition and health and increase in preference for natural alternatives to traditional pharmaceutical products. Spirulina is also largely used in food & beverage sector as it has a high content of natural pigments that imparts blue color and is combined with other colors in order to obtain new customized colors such as lavender, violet, and green. It also finds its major application in the cosmetic & personal care industry. Furthermore, it is mainly used in cosmetic & personal care products especially for the anti-aging cream.

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Region segment review

Based on region, the spirulina market analysis is conducted across North America, Europe, Asia-Pacific, and LAMEA. North America was the leading revenue contributor to the global spirulina market in 2018, 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. Asia-Pacific is expected to grow at the highest CAGR during the study period, as it offers lucrative opportunities for the market players due to robust growth of the food processing industry in the region. Furthermore, growing demand for spirulina powder among vegetarian consumers is another factor that fuels the growth of this market, as spirulina is a 100% vegetarian dietary supplement.

The report provides a comprehensive analysis of the key players operating in the global spirulina market. These players include Cyanotech Corporation, DIC Corporation, Chr. Hansen Holding A/S, Dongtai City Spirulina Bio-engineering Co., Ltd., Algenol Biofuels Inc., Prolgae, Sensient Technologies Corporation, Parry Neutraceuticals, DDW Inc., Naturex S.A., and Algatec.

The other players operating in the global spirulina market include GNC Holdings, Inc., Now Health Group Inc, Fuqing King Dnarmsa Spirulina Co., Fraken Biochem Co., Ltd., and Far East Bio-Tec Co. Ltd.

Key Benefits for Spirulina Market:

  • This report provides a detailed quantitative analysis of the current spirulina market trends and future estimations from 2018 to 2025, which assists to identify the prevailing market opportunities. 
  • An in-depth analysis of various regions is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate region-specific plans.
  • A comprehensive analysis of the factors that drive and restrain the growth of the global spirulina market is provided.
  • An extensive spirulina market analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.

Spirulina Key Market Segments:

By Type 

  • Arthrospira Platensis
  • Arthrospira Maxima

By Application

  • Nutraceuticals
  • Food & Beverages
  • Cosmetics
  • Animal Feed
  • Others

By Drug Formulation

  • Powder
  • Tablet & Capsule
  • Liquid
  • Granule & Gelling Agent

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • Spain
    • Italy
    • UK
    • Rest of Europe
  • Asia-Pacific
    • Australia
    • Japan
    • India
    • China
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • Saudi Arabia
    • South Africa
    • Rest of LAMEA
 

CHAPTER 1:    INTRODUCTION

1.1.    Report description
1.2.    Key benefits for stakeholders
1.3.    Key market segments
1.4.    Research methodology

1.4.1.    Primary research
1.4.2.    Secondary research
1.4.3.    Analyst tools and models

CHAPTER 2:    EXECUTIVE SUMMARY

2.1.    Key findings

2.1.1.    Top impacting factors
2.1.2.    Top investment pockets

2.2.    CXO perspective

CHAPTER 3:    MARKET OVERVIEW

3.1.    Market definition and scope
3.2.    Parent Market Overview
3.3.    Key Forces Shaping Spirulina Market

3.3.1.    Low-to-high bargaining power of suppliers
3.3.2.    Moderate-to-high threat of new entrants
3.3.3.    Moderate threat of substitutes
3.3.4.    Moderate intensity of rivalry
3.3.5.    Low-to-moderate bargaining power of buyers

3.4.    Pricing Analysis

3.4.1.    Pricing Analysis, By Region, 2018 & 2025

3.5.    Value Chain Analysis
3.6.    Impact of government regulations on global spirulina market
3.7.    Industry Pain point analysis
3.8.    Patent Analysis

3.8.1.    By Region (2016-2018)
3.8.2.    By Applicant

3.9.    Case Studies

3.9.1.    Case Study 01

3.10.    Market dynamics

3.10.1.    Drivers

3.10.1.1.    Rise in demand for natural ingredient
3.10.1.2.    Promotion of the production of spirulina by government
3.10.1.3.    R&D of spirulina as commercial products

3.10.2.    Restraints

3.10.2.1.    Impact on spirulina production due to climate change

3.10.3.    Opportunities

3.10.3.1.    Untapped markets in the developing countries
3.10.3.2.    Easy to cultivate due to development in cultivation technology

CHAPTER 4:    SPIRULINA MARKET, BY TYPE

4.1.    Overview

4.1.1.    Market size and forecast

4.2.    Arthrospira Platensis

4.2.1.    Key market trends and opportunities
4.2.2.    Market size and forecast
4.2.3.    Market analysis, by country

4.3.    Arthrospira Maxima

4.3.1.    Key market trends and opportunities
4.3.2.    Market size and forecast
4.3.3.    Market analysis, by country

CHAPTER 5:    SPIRULINA MARKET, BY APPLICATION

5.1.    Overview

5.1.1.    Market size and forecast

5.2.    Nutraceuticals

5.2.1.    Key market trends and opportunities
5.2.2.    Market size and forecast
5.2.3.    Market analysis, by country

5.3.    Cosmetics

5.3.1.    Key market trends and opportunities
5.3.2.    Market size and forecast
5.3.3.    Market analysis, by country

5.4.    Food and Beverages

5.4.1.    Key market trends and opportunities
5.4.2.    Market size and forecast
5.4.3.    Market analysis, by country

5.5.    Animal Feed

5.5.1.    Key market trends and opportunities
5.5.2.    Market size and forecast
5.5.3.    Market analysis, by country

5.6.    Other applications

5.6.1.    Key market trends and opportunities
5.6.2.    Market size and forecast
5.6.3.    Market analysis, by country

CHAPTER 6:    SPIRULINA MARKET, BY DRUG FORMULATION

6.1.    Overview

6.1.1.    Market size and forecast

6.2.    Powder

6.2.1.    Key market trends and opportunities
6.2.2.    Market size and forecast
6.2.3.    Market analysis, by country

6.3.    Tablet & Capsule

6.3.1.    Key market trends and opportunities
6.3.2.    Market size and forecast
6.3.3.    Market analysis, by country

6.4.    Liquid

6.4.1.    Key market trends and opportunities
6.4.2.    Market size and forecast
6.4.3.    Market analysis, by country

6.5.    Granule & Gelling Agent

6.5.1.    Key market trends and opportunities
6.5.2.    Market size and forecast
6.5.3.    Market analysis, by country

CHAPTER 7:    SPIRULINA MARKET, BY REGION

7.1.    Overview

7.1.1.    Market size and forecast

7.2.    North America

7.2.1.    Key market trends and opportunities
7.2.2.    North America market size and forecast, by type
7.2.3.    North America market size and forecast, by application
7.2.4.    North America market size and forecast, by drug formulation
7.2.5.    North America market size and forecast, by country

7.2.5.1.    U.S. market size and forecast, by type
7.2.5.2.    U.S. market size and forecast, by application
7.2.5.3.    U.S. market size and forecast, by drug formulation
7.2.5.4.    Canada market size and forecast, by type
7.2.5.5.    Canada market size and forecast, by application
7.2.5.6.    Canada market size and forecast, by drug formulation
7.2.5.7.    Mexico market size and forecast, by type
7.2.5.8.    Mexico market size and forecast, by application
7.2.5.9.    Mexico market size and forecast, by drug formulation

7.3.    Europe

7.3.1.    Key market trends and opportunities
7.3.2.    Europe market size and forecast, by type
7.3.3.    Europe market size and forecast, by application
7.3.4.    Europe market size and forecast, by drug formulation
7.3.5.    Europe market size and forecast, by country

7.3.5.1.    France market size and forecast, by type
7.3.5.2.    France market size and forecast, by application
7.3.5.3.    France market size and forecast, by drug formulation
7.3.5.4.    UK market size and forecast, by type
7.3.5.5.    UK market size and forecast, by application
7.3.5.6.    UK market size and forecast, by drug formulation
7.3.5.7.    Italy market size and forecast, by type
7.3.5.8.    Italy market size and forecast, by application
7.3.5.9.    Italy market size and forecast, by drug formulation
7.3.5.10.    Spain market size and forecast, by type
7.3.5.11.    Spain market size and forecast, by application
7.3.5.12.    Spain market size and forecast, by drug formulation
7.3.5.13.    Rest of Europe market size and forecast, by type
7.3.5.14.    Rest of Europe market size and forecast, by application
7.3.5.15.    Rest of Europe market size and forecast, by drug formulation

7.4.    Asia-Pacific

7.4.1.    Key market trends and opportunities
7.4.2.    Asia-Pacific market size and forecast, by type
7.4.3.    Asia-Pacific market size and forecast, by application
7.4.4.    Asia-Pacific market size and forecast, by drug formulation
7.4.5.    Asia-Pacific market size and forecast, by country

7.4.5.1.    Japan market size and forecast, by type
7.4.5.2.    Japan market size and forecast, by application
7.4.5.3.    Japan market size and forecast, by drug formulation
7.4.5.4.    China market size and forecast, by type
7.4.5.5.    China market size and forecast, by application
7.4.5.6.    China market size and forecast, by drug formulation
7.4.5.7.    India market size and forecast, by type
7.4.5.8.    India market size and forecast, by application
7.4.5.9.    India market size and forecast, by drug formulation
7.4.5.10.    Australia market size and forecast, by type
7.4.5.11.    Australia market size and forecast, by application
7.4.5.12.    Australia market size and forecast, by drug formulation
7.4.5.13.    South Korea market size and forecast, by type
7.4.5.14.    South Korea market size and forecast, by application
7.4.5.15.    South Korea market size and forecast, by drug formulation
7.4.5.16.    Rest of Asia-Pacific market size and forecast, by type
7.4.5.17.    Rest of Asia-Pacific market size and forecast, by application
7.4.5.18.    Rest of Asia-Pacific market size and forecast, by drug formulation

7.5.    LAMEA

7.5.1.    Key market trends and opportunities
7.5.2.    LAMEA market size and forecast, by type
7.5.3.    LAMEA market size and forecast, by application
7.5.4.    LAMEA market size and forecast, by drug formulation
7.5.5.    LAMEA market size and forecast, by country

7.5.5.1.    Brazil market size and forecast, by type
7.5.5.2.    Brazil market size and forecast, by application
7.5.5.3.    Brazil market size and forecast, by drug formulation
7.5.5.4.    South Africa market size and forecast, by type
7.5.5.5.    South Africa market size and forecast, by application
7.5.5.6.    South Africa market size and forecast, by drug formulation
7.5.5.7.    Rest of LAMEA market size and forecast, by type
7.5.5.8.    Rest of LAMEA market size and forecast, by application
7.5.5.9.    Rest of LAMEA market size and forecast, by drug formulation

CHAPTER 8:    COMPANY PROFILES

8.1.    Algenol Biofuels Inc.

8.1.1.    Company overview
8.1.2.    Company snapshot
8.1.3.    Operating business segments
8.1.4.    Product portfolio

8.2.    Dongtai City Spirulina Bio-engineering Co, Ltd.

8.2.1.    Company overview
8.2.2.    Company snapshot
8.2.3.    Operating business segments
8.2.4.    Product portfolio

8.3.    CHR. HANSEN HOLDING A/S

8.3.1.    Company overview
8.3.2.    CHR. Hansen: company Snapshot
8.3.3.    Operating business segments
8.3.4.    Product portfolio
8.3.5.    Business performance

8.4.    CYANOTECH CORPORATION

8.4.1.    Company overview
8.4.2.    Company snapshot
8.4.3.    Operating business segments
8.4.4.    Product portfolio
8.4.5.    Business performance

8.5.    DDW Inc.

8.5.1.    Company overview
8.5.2.    Company snapshot
8.5.3.    Operating business segments
8.5.4.    Product portfolio

8.6.    DIC CORPORATION

8.6.1.    Company overview
8.6.2.    Company snapshot
8.6.3.    Operating business segments
8.6.4.    Product portfolio
8.6.5.    Business performance

8.7.    DÖHLER GMBH

8.7.1.    Company overview
8.7.2.    Company snapshot
8.7.3.    Operating business segments
8.7.4.    Product portfolio

8.8.    FMC CORPORATION

8.8.1.    Company overview
8.8.2.    Company snapshot
8.8.3.    Operating business segments
8.8.4.    Product portfolio
8.8.5.    Business performance
8.8.6.    Key strategic moves and developments

8.9.    Givaudan International SA

8.9.1.    Company overview
8.9.2.    Company snapshot
8.9.3.    Operating business segments
8.9.4.    Product portfolio
8.9.5.    Business performance
8.9.6.    Key strategic moves and developments

8.10.    KONINKLIJKE DSM N.V.

8.10.1.    Company overview
8.10.2.    Company snapshot
8.10.3.    Operating business segments
8.10.4.    Product portfolio
8.10.5.    Key strategic moves and developments

8.11.    Prolgae

8.11.1.    Company overview
8.11.2.    Company snapshot
8.11.3.    Operating business segments
8.11.4.    Product portfolio
8.11.5.    Business performance

8.12.    SENSIENT TECHNOLOGIES CORPORATION

8.12.1.    Company overview
8.12.2.    Company snapshot
8.12.3.    Operating business segments
8.12.4.    Product portfolio
8.12.5.    Business performance

8.13.    E.I.D. Parry Limited

8.13.1.    Company overview
8.13.2.    Company snapshot
8.13.3.    Operating business segments
8.13.4.    Product portfolio
8.13.5.    Business performance

LIST OF TABLES

TABLE 01.    GLOBAL SPIRULINA MARKET, BY TYPE, 2018–2026 ($MILLION)
TABLE 02.    SPIRULINA MARKET FOR ARTHROSPIRA PLATENSIS, BY REGION, 2018–2026 ($MILLION)
TABLE 03.    SPIRULINA MARKET FOR ARTHROSPIRA MAXIMA, BY REGION, 2018–2026 ($MILLION)
TABLE 04.    GLOBAL SPIRULINA MARKET, BY APPLICATION, 2018–2026 ($MILLION)
TABLE 05.    SPIRULINA MARKET FOR NUTRACEUTICALS, BY REGION, 2018–2026 ($MILLION)
TABLE 06.    SPIRULINA MARKET FOR COSMETICS, BY REGION, 2018–2026 ($MILLION)
TABLE 07.    SPIRULINA MARKET FOR FOOD AND BEVERAGES, BY REGION, 2018–2026 ($MILLION)
TABLE 08.    SPIRULINA MARKET FOR ANIMAL FEED, BY REGION, 2018–2026 ($MILLION)
TABLE 09.    SPIRULINA MARKET FOR OTHER APPLICATIONS, BY REGION, 2018–2026 ($MILLION)
TABLE 10.    GLOBAL SPIRULINA MARKET, BY DRUG FORMULATION, 2018–2026 ($MILLION)
TABLE 11.    SPIRULINA MARKET FOR POWDER, BY REGION, 2018–2026 ($MILLION)
TABLE 12.    SPIRULINA MARKET FOR TABLET & CAPSULE, BY REGION, 2018–2026 ($MILLION)
TABLE 13.    SPIRULINA MARKET FOR LIQUID, BY REGION, 2018–2026 ($MILLION)
TABLE 14.    SPIRULINA MARKET FOR GRANULE & GELLING AGENT, BY REGION, 2018–2026 ($MILLION)
TABLE 15.    GLOBAL SPIRULINA MARKET, BY REGION, 2018–2026 ($MILLION)
TABLE 16.    NORTH AMERICA SPIRULINA MARKET, BY TYPE, 2018–2026 ($MILLION)
TABLE 17.    NORTH AMERICA SPIRULINA MARKET, BY APPLICATION, 2018–2026 ($MILLION)
TABLE 18.    NORTH AMERICA SPIRULINA MARKET, BY DRUG FORMULATION, 2018–2026 ($MILLION)
TABLE 19.    NORTH AMERICA SPIRULINA MARKET, BY COUNTRY, 2018–2026 ($MILLION)
TABLE 20.    U.S. SPIRULINA MARKET, BY TYPE, 2018–2026 ($MILLION)
TABLE 21.    U.S. SPIRULINA MARKET, BY APPLICATION, 2018–2026 ($MILLION)
TABLE 22.    U.S. SPIRULINA MARKET, BY DRUG FORMULATION, 2018–2026 ($MILLION)
TABLE 23.    CANADA SPIRULINA MARKET, BY TYPE, 2018–2026 ($MILLION)
TABLE 24.    CANADA SPIRULINA MARKET, BY APPLICATION, 2018–2026 ($MILLION)
TABLE 25.    CANADA SPIRULINA MARKET, BY DRUG FORMULATION, 2018–2026 ($MILLION)
TABLE 26.    MEXICO SPIRULINA MARKET, BY TYPE, 2018–2026 ($MILLION)
TABLE 27.    MEXICO SPIRULINA MARKET, BY APPLICATION, 2018–2026 ($MILLION)
TABLE 28.    MEXICO SPIRULINA MARKET, BY DRUG FORMULATION, 2018–2026 ($MILLION)
TABLE 29.    EUROPE SPIRULINA MARKET, BY TYPE, 2018–2026 ($MILLION)
TABLE 30.    EUROPE SPIRULINA MARKET, BY APPLICATION, 2018–2026 ($MILLION)
TABLE 31.    EUROPE SPIRULINA MARKET, BY DRUG FORMULATION, 2018–2026 ($MILLION)
TABLE 32.    EUROPE SPIRULINA MARKET, BY COUNTRY, 2018–2026 ($MILLION)
TABLE 33.    FRANCE SPIRULINA MARKET, BY TYPE, 2018–2026 ($MILLION)
TABLE 34.    FRANCE SPIRULINA MARKET, BY APPLICATION, 2018–2026 ($MILLION)
TABLE 35.    FRANCE SPIRULINA MARKET, BY DRUG FORMULATION, 2018–2026 ($MILLION)
TABLE 36.    UK SPIRULINA MARKET, BY TYPE, 2018–2026 ($MILLION)
TABLE 37.    UK SPIRULINA MARKET, BY APPLICATION, 2018–2026 ($MILLION)
TABLE 38.    UK SPIRULINA MARKET, BY DRUG FORMULATION, 2018–2026 ($MILLION)
TABLE 39.    ITALY SPIRULINA MARKET, BY TYPE, 2018–2026 ($MILLION)
TABLE 40.    ITALY SPIRULINA MARKET, BY APPLICATION, 2018–2026 ($MILLION)
TABLE 41.    ITALY SPIRULINA MARKET, BY DRUG FORMULATION, 2018–2026 ($MILLION)
TABLE 42.    SPAIN SPIRULINA MARKET, BY TYPE, 2018–2026 ($MILLION)
TABLE 43.    SPAIN SPIRULINA MARKET, BY APPLICATION, 2018–2026 ($MILLION)
TABLE 44.    SPAIN SPIRULINA MARKET, BY DRUG FORMULATION, 2018–2026 ($MILLION)
TABLE 45.    REST OF EUROPE SPIRULINA MARKET, BY TYPE, 2018–2026 ($MILLION)
TABLE 46.    REST OF EUROPE SPIRULINA MARKET, BY APPLICATION, 2018–2026 ($MILLION)
TABLE 47.    REST OF EUROPE SPIRULINA MARKET, BY DRUG FORMULATION, 2018–2026 ($MILLION)
TABLE 48.    ASIA-PACIFIC SPIRULINA MARKET, BY TYPE, 2018–2026 ($MILLION)
TABLE 49.    ASIA-PACIFIC SPIRULINA MARKET, BY APPLICATION, 2018–2026 ($MILLION)
TABLE 50.    ASIA-PACIFIC SPIRULINA MARKET, BY DRUG FORMULATION, 2018–2026 ($MILLION)
TABLE 51.    ASIA-PACIFIC SPIRULINA MARKET, BY COUNTRY, 2018–2026 ($MILLION)
TABLE 52.    JAPAN SPIRULINA MARKET, BY TYPE, 2018–2026 ($MILLION)
TABLE 53.    JAPAN SPIRULINA MARKET, BY APPLICATION, 2018–2026 ($MILLION)
TABLE 54.    JAPAN SPIRULINA MARKET, BY DRUG FORMULATION, 2018–2026 ($MILLION)
TABLE 55.    CHINA SPIRULINA MARKET, BY TYPE, 2018–2026 ($MILLION)
TABLE 56.    CHINA SPIRULINA MARKET, BY APPLICATION, 2018–2026 ($MILLION)
TABLE 57.    CHINA SPIRULINA MARKET, BY DRUG FORMULATION, 2018–2026 ($MILLION)
TABLE 58.    INDIA SPIRULINA MARKET, BY TYPE, 2018–2026 ($MILLION)
TABLE 59.    INDIA SPIRULINA MARKET, BY APPLICATION, 2018–2026 ($MILLION)
TABLE 60.    INDIA SPIRULINA MARKET, BY DRUG FORMULATION, 2018–2026 ($MILLION)
TABLE 61.    AUSTRALIA SPIRULINA MARKET, BY TYPE, 2018–2026 ($MILLION)
TABLE 62.    AUSTRALIA SPIRULINA MARKET, BY APPLICATION, 2018–2026 ($MILLION)
TABLE 63.    AUSTRALIA SPIRULINA MARKET, BY DRUG FORMULATION, 2018–2026 ($MILLION)
TABLE 64.    SOUTH KOREA SPIRULINA MARKET, BY TYPE, 2018–2026 ($MILLION)
TABLE 65.    SOUTH KOREA SPIRULINA MARKET, BY APPLICATION, 2018–2026 ($MILLION)
TABLE 66.    SOUTH KOREA SPIRULINA MARKET, BY DRUG FORMULATION, 2018–2026 ($MILLION)
TABLE 67.    REST OF ASIA-PACIFIC SPIRULINA MARKET, BY TYPE, 2018–2026 ($MILLION)
TABLE 68.    REST OF ASIA-PACIFIC SPIRULINA MARKET, BY APPLICATION, 2018–2026 ($MILLION)
TABLE 69.    REST OF ASIA-PACIFIC SPIRULINA MARKET, BY DRUG FORMULATION, 2018–2026 ($MILLION)
TABLE 70.    LAMEA SPIRULINA MARKET, BY TYPE, 2018–2026 ($MILLION)
TABLE 71.    LAMEA SPIRULINA MARKET, BY APPLICATION, 2018–2026 ($MILLION)
TABLE 72.    LAMEA SPIRULINA MARKET, BY DRUG FORMULATION, 2018–2026 ($MILLION)
TABLE 73.    LAMEA SPIRULINA MARKET, BY COUNTRY, 2018–2026 ($MILLION)
TABLE 74.    BRAZIL SPIRULINA MARKET, BY TYPE, 2018–2026 ($MILLION)
TABLE 75.    BRAZIL SPIRULINA MARKET, BY APPLICATION, 2018–2026 ($MILLION)
TABLE 76.    BRAZIL SPIRULINA MARKET, BY DRUG FORMULATION, 2018–2026 ($MILLION)
TABLE 77.    SOUTH AFRICA SPIRULINA MARKET, BY TYPE, 2018–2026 ($MILLION)
TABLE 78.    SOUTH AFRICA SPIRULINA MARKET, BY APPLICATION, 2018–2026 ($MILLION)
TABLE 79.    SOUTH AFRICA SPIRULINA MARKET, BY DRUG FORMULATION, 2018–2026 ($MILLION)
TABLE 80.    REST OF LAMEA SPIRULINA MARKET, BY TYPE, 2018–2026 ($MILLION)
TABLE 81.    REST OF LAMEA SPIRULINA MARKET, BY APPLICATION, 2018–2026 ($MILLION)
TABLE 82.    REST OF LAMEA SPIRULINA MARKET, BY DRUG FORMULATION, 2018–2026 ($MILLION)
TABLE 83.    ALGENOL: COMPANY SNAPSHOT
TABLE 84.    ALGENOL: OPERATING SEGMENTS
TABLE 85.    ALGENOL: PRODUCT PORTFOLIO
TABLE 86.    DONGTAI: COMPANY SNAPSHOT
TABLE 87.    DONGTAI: OPERATING SEGMENTS
TABLE 88.    DONGTAI: PRODUCT PORTFOLIO
TABLE 89.    CHR. HANSEN: OPERATING SEGMENTS
TABLE 90.    CHR HANSEN: PRODUCT PORTFOLIO
TABLE 91.    CYANOTECH: COMPANY SNAPSHOT
TABLE 92.    CYANOTECH: OPERATING SEGMENTS
TABLE 93.    CYANOTECH: PRODUCT PORTFOLIO
TABLE 94.    DDW INC: COMPANY SNAPSHOT
TABLE 95.    DDW INC: OPERATING SEGMENTS:
TABLE 96.    DDW INC: PRODUCT PORTFOLIO
TABLE 97.    DIC: COMPANY SNAPSHOT
TABLE 98.    DIC: OPERATING SEGMENTS
TABLE 99.    DIC: PRODUCT PORTFOLIO
TABLE 100.    DÖHLER: COMPANY SNAPSHOT
TABLE 101.    DÖHLER: OPERATING SEGMENTS
TABLE 102.    DÖHLER: PRODUCT PORTFOLIO
TABLE 103.    SANOFI: COMPANY SNAPSHOT
TABLE 104.    SANOFI: OPERATING SEGMENTS
TABLE 105.    SANOFI: PRODUCT PORTFOLIO
TABLE 106.    GIVAUDAN: COMPANY SNAPSHOT
TABLE 107.    GIVAUDAN: OPERATING SEGMENTS
TABLE 108.    GIVAUDAN: PRODUCT PORTFOLIO
TABLE 109.    VAXXINOVA: COMPANY SNAPSHOT
TABLE 110.    VAXXINOVA: OPERATING SEGMENTS
TABLE 111.    VAXXINOVA: PRODUCT PORTFOLIO
TABLE 112.    NATUREX: COMPANY SNAPSHOT
TABLE 113.    NATUREX: OPERATING SEGMENTS
TABLE 114.    NATUREX: PRODUCT PORTFOLIO
TABLE 115.    SENSIENT: COMPANY SNAPSHOT
TABLE 116.    SENSIENT: OPERATING SEGMENTS
TABLE 117.    SENSIENT: PRODUCT PORTFOLIO
TABLE 118.    PARRY: COMPANY SNAPSHOT
TABLE 119.    PARRY: OPERATING SEGMENTS
TABLE 120.    PARRY: PRODUCT PORTFOLIO

LIST OF FIGURES

FIGURE 01.    KEY MARKET SEGMENTS
FIGURE 02.    EXECUTIVE SUMMARY
FIGURE 03.    TOP IMPACTING FACTORS
FIGURE 04.    TOP INVESTMENT POCKETS
FIGURE 05.    VALUE CHAIN ANALYSIS
FIGURE 06.    SMILING CURVE VALUE CHAIN MODEL
FIGURE 07.    PATENT ANALYSIS, BY REGION
FIGURE 08.    PATENT ANALYSIS, BY APPLICANT
FIGURE 09.    COMPARATIVE SHARE ANALYSIS OF SPIRULINA MARKET FOR ARTHROSPIRA PLATENSIS, BY COUNTRY, 2018 & 2026 (%)
FIGURE 10.    COMPARATIVE SHARE ANALYSIS OF SPIRULINA MARKET FOR ARTHROSPIRA MAXIMA, BY COUNTRY, 2018 & 2026 (%)
FIGURE 11.    COMPARATIVE SHARE ANALYSIS OF SPIRULINA MARKET FOR NUTRACEUTICALS, BY COUNTRY, 2018 & 2026 (%)
FIGURE 12.    COMPARATIVE SHARE ANALYSIS OF SPIRULINA MARKET FOR COSMETICS, BY COUNTRY, 2018 & 2026 (%)
FIGURE 13.    COMPARATIVE SHARE ANALYSIS OF SPIRULINA MARKET FOR FOOD AND BEVERAGES, BY COUNTRY, 2018 & 2026 (%)
FIGURE 14.    COMPARATIVE SHARE ANALYSIS OF SPIRULINA MARKET FOR ANIMAL FEED, BY COUNTRY, 2018 & 2026 (%)
FIGURE 15.    COMPARATIVE SHARE ANALYSIS OF SPIRULINA MARKET FOR OTHER APPLICATIONS, BY COUNTRY, 2018 & 2026 (%)
FIGURE 16.    COMPARATIVE SHARE ANALYSIS OF SPIRULINA MARKET FOR POWDER, BY COUNTRY, 2018 & 2026 (%)
FIGURE 17.    COMPARATIVE SHARE ANALYSIS OF SPIRULINA MARKET FOR TABLET & CAPSULE, BY COUNTRY, 2018 & 2026 (%)
FIGURE 18.    COMPARATIVE SHARE ANALYSIS OF SPIRULINA MARKET FOR LIQUID, BY COUNTRY, 2018 & 2026 (%)
FIGURE 19.    COMPARATIVE SHARE ANALYSIS OF SPIRULINA MARKET FOR GRANULE & GELLING AGENT, BY COUNTRY, 2018 & 2026 (%)
FIGURE 20.    CHR HANSEN: REVENUE, 2015–2017 ($MILLION)
FIGURE 21.    CHR HANSEN: REVENUE SHARE BY SEGMENT, 2017 (%)
FIGURE 22.    CHR HANSEN: REVENUE SHARE BY REGION, 2017 (%)
FIGURE 23.    CYANOTECH: NET SALES, 2015–2017 ($MILLION)
FIGURE 24.    CYANOTECH: REVENUE SHARE BY REGION, 2017 (%)
FIGURE 25.    CYANOTECH: REVENUE SHARE BY REGION, 2017 (%)
FIGURE 26.    DIC: NET SALES, 2016–2018 ($MILLION)
FIGURE 27.    DIC: REVENUE SHARE BY PRODUCT, 2018 (%)
FIGURE 28.    DIC: REVENUE SHARE BY REGION, 2018 (%)
FIGURE 29.    SANOFI: NET SALES, 2015–2017 ($MILLION)
FIGURE 30.    SANOFI: REVENUE SHARE BY SEGMENT, 2017 (%)
FIGURE 31.    SANOFI: REVENUE SHARE BY REGION, 2017 (%)
FIGURE 32.    GIVAUDAN: NET SALES, 2015–2017 ($MILLION)
FIGURE 33.    GIVAUDAN: REVENUE SHARE BY SEGMENT, 2017 (%)
FIGURE 34.    GIVAUDAN: REVENUE SHARE BY REGION, 2017 (%)
FIGURE 35.    NATUREX: REVENUE, 2015–2017 ($MILLION)
FIGURE 36.    NATUREX: REVENUE SHARE BY PRODUCT CATEGORY, 2017 (%)
FIGURE 37.    NATUREX: REVENUE SHARE BY REGION, 2017 (%)
FIGURE 38.    SENSIENT: NET SALES, 2015–2017 ($MILLION)
FIGURE 39.    SENSIENT: REVENUE SHARE BY PRODUCT, 2017 (%)
FIGURE 40.    SENSIENT: REVENUE SHARE BY REGION, 2017 (%)
FIGURE 41.    PARRY: NET SALES, 2015–2017 ($MILLION)
FIGURE 42.    PARRY: REVENUE SHARE BY PRODUCT, 2017 (%)
FIGURE 43.    PARRY: REVENUE SHARE BY REGION, 2017 (%)

 
 

Spirulina comprises high anti-oxidant, hypolipidemic, beta-carotene, and anti-inflammatory properties. Owing to exceptional properties, spirulina offers health benefits including reduced cholesterol and blood pressure. Growth in penetration of spirulina in the cosmetics and pharmaceutical industries is further expected to fuel the growth to this market during the forecast period.

The food & beverages industry has slowly started phasing out artificial colors due to rise in safety concerns and increase in demand for natural colors. Spirulina is considered to be one of the popular natural food colors among the food & beverages manufacturers. The primary pigment in spirulina is a protein called phycocyanin that imparts a vibrant blue color. Additionally, it can be combined with other colors to make customized colors such as green and lavender or violet shades, which makes it ideal for using in various food and beverages products.

North America was the leading revenue contributor to the global spirulina market in 2018, 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. However, Asia-Pacific is expected to grow at the highest CAGR during the study period, as it offers lucrative opportunities for the market players due to robust growth of the food processing industry in the region. 

 

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