Global Spirulina Market Growth 2019-2024

Spirulina is a microscopic spiral shaped blue-green vegetable algae which grows in mineral-rich freshwater and saltwater sources. It provides an abundance of protein, vitamins, minerals, trace minerals, essential fatty acids, phytonutrients, and antioxidants.
First, the spirulina industry concentration is high; in the world wide, giant manufacturers mainly distribute in China, India and American. China has a long history and unshakable status in this industry, like DIC, King Dnarmsa, CBN and Green-A, both have perfect products. In China, the manufacturers focus in Yunnan and Shandong province.

Second, as for consumption market, the global market sales were 11336 MT spirulina in 2015, which was much higher than that of 9128 in 2012.

Third, the sales market mainly focus on the China, USA, India, Japan and Europe etc. region. In 2013, the U.S. Food and Drug Administration approved the use of phycocyanin as a natural colorant in food and beverage products. Since then, demand has risen dramatically, particularly in the Americas and Europe. In 2016, China was the leader consumption region with the sales market share of 45.70%. USA was the second sales market with sales share 22.75% in 2016.

Fourth, the price of spirulina was decreasing from 2012 to 2016, increased since 2017; also the gross margin decreased. It is expect that the price is also decreasing in future. The gross margin is about 12%-17% in 2015, while the global average spirulina price is about 10804 USD/MT in 2017.

Fifth, this industry is affected by the economy and policy, so it’s important to put an eye on economic indexes and leaders’ prefer. With the global economic recovery, more and more people pay attention to health, especially in developed regions that have a large population and fast economic growth, the need of spirulina will increase.

Sixth, we tend to believe this industry now is close to mature, and the consumption increasing degree will show a smooth curve. On product prices, the slow downward trend in recent years will maintain in the future, as competition intensifies, prices gap between different brands will go narrowing. Similarly, there will be fluctuation in gross margin.


According to this study, over the next five years the Spirulina market will register a 4.5% CAGR in terms of revenue, the global market size will reach US$ 160 million by 2024, from US$ 120 million in 2019. In particular, this report presents the global market share (sales and revenue) of key companies in Spirulina business, shared in Chapter 3.

This report presents a comprehensive overview, market shares, and growth opportunities of Spirulina market by product type, application, key manufacturers and key regions and countries.

This study considers the Spirulina value and volume generated from the sales of the following segments:

Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.
Spirulina Powder
Spirulina Tablet
Spirulina Extracts
Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.
Health Products
Feed
Others

This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Spain
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in in Chapter 3.
DIC
Cyanotech
Parry Nutraceuticals
Hydrolina Biotech
King Dnarmsa
CBN
Green-A
Spirin
Chenghai Bao ER
Shenliu
SBD
Lanbao
Tianjian
Wuli Lvqi
Gangfa

In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.

Research objectives
To study and analyze the global Spirulina consumption (value & volume) by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Spirulina market by identifying its various subsegments.
Focuses on the key global Spirulina manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Spirulina with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the consumption of Spirulina submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.