Spirulina powder is identified as one of the most nutrient dense food around the world. It is a wholesome product of biological origin which is used as a dietary supplement to boost metabolism and flush out waste accumulated in colon. Spirulina powder is produced from organic and GMO free cyanobacteria. It offers amazing health benefits containing ample amount of nutrient and vitamins which makes them an excellent consumer’s choice.
According to a report of the Future Market Insights, the spirulina powder market is expected to register a moderate CAGR of 5.9% during the forecast period 2017 – 2027. The consumption of spirulina powder is expected to generate an estimated value of US$ 380 Mn by the end of 2027.
What can be the dynamic factors to increase demand for spirulina powder?
- Increasing use of spirulina powder in diet supplements and energy drinks
- Heavy investment in research and development field to increase its nutrition level
- Growing awareness on benefits of consuming spirulina powder among health conscious consumers across the globe
- Increasing application of spirulina powder in cosmetic products, pet food, nutraceuticals and spa treatment
However, growing demand and supply gap due to complexities in logistic and freight industry coupled with the stringent regulation associated food safety of different countries.
What is the production and consumption scenario for spirulina powder market?
North America is anticipated to remain prevalent in spirulina powder market. The region is witnessing ever growing obese population due to increasing consumption of junk food items. Growing concern on fatal diseases associated with obesity such as cardiovascular diseases and type 2 diabetes is highly likely to encourage consumption of healthy and nutritive diet like spirulina powder. Thus spirulina powder producers are anticipated to attain potential opportunities in North America during the forecast period.
Spirulina powder is available mainly in two forms, organic and conventional. Among these, production of organic spirulina powder is expected to witness robust growth during the forecast period. Growing consumer preference for pesticide free and GMO free diet supplement is expected to attribute towards increasing consumption of spirulina powder during the forecast period.
Spirulina powder finds innumerable applications in several industries such as food & beverages, animal and aquaculture feed, pharmaceutical and dietary supplements and cosmetics among others. Spirulina powder contains several natural health benefits such as anti-inflammatory, anti-oxidant and hypolipidemic properties which helps to increase its demand in cosmetic and food & beverage industries. Other major health benefits of consuming spirulina powder such as prevent cancer, reduce anemia, control blood sugar level and reduce blood pressure are identified which are likely to increase its application in pharmaceutical industries in coming years.
Which distribution channel attracts large customer base to supply spirulina powder?
Spirulina powder producers use different sales channel in their product marketing on both domestic and international level. This includes direct sales and retail sales. The retail sales can be further classified as specialty stores, modern trade stores, pharmaceutical drug stores and online retail among others. Out of these, market player are expected to witness maximum profitable growth through retails sales. Growing customer preference in purchasing a variety of dietary supplements like spirulina powder through retail sales channel such as online retail and pharmaceutical drug stores is expected to elevate supply of spirulina powder at a rapid pace during the forecast period.
Who are the major players in spirulina powder market?
Major companies like GNC Holdings, Inc., Chr. Hansen Holding A/S, DIC Corporation, DDW Inc., Cyanotech Corp, Fuqing King Dnarmsa Spirulina Co., Ltd., Dongtai City Spirulina Bio-Engineering Co., are some of market participants to account for potential value share in spirulina powder market.
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