Spirulina Market Revenue | Key Players Review and Forecast to 2023

Market Overview
Spirulina is a multicellular and filamentous microalga that is blue-green in color. It is used as a food supplement to overcome malnutrition. Spirulina is an abundant source of protein, vitamins, carotenoids, minerals, and antioxidants. Spirulina grows in fresh water and can also be produced artificially, based on its nutritional value. Spirulina has gained popularity owing to its diverse scope of application, specifically in the food industry and as a potential supplement. 
The global spirulina market is anticipated to register a lucrative CAGR of 8.02% during the forecast period. Spirulina is considered as an excellent natural feed additive which is used for animals as well as poultry. With its full scope of application in agriculture and aquatic farming and hatchery, the global spirulina market is assessed to grow at a fast pace. The demand for spirulina is mainly increasing in developing economies owing to the proliferating awareness regarding the product and the benefits of the consumption of spirulina. This has opened new growth avenues for many manufacturers to expand their markets in many emerging countries of the world. Additionally, governments and organizations are considering spirulina as a solution to curb malnutrition. With rising initiatives taken by these governments and other organizations to raise awareness about the health benefits of spirulina with various promotional campaigns are promoting positive upscaling in the global spirulina market. 
Key Players
Global Spirulina Market Revenue is influenced by the activities of many notable market vendors during the forecast period. Some prominent players, as profiled in the latest report by Market Research Future (MRFR), include Cyanotech Corporation (Hawaii), E.I.D. Parry (India) Limited (India), DIC Corporation (Japan), Tianjin Norland Biotech Co. Ltd (China), Jiangxi Alga Biotech (China), Hydrolina Biotech Private Limited (India), and Synergy Natural Products Pty Ltd. (Australia).
Industry Update
May 2019: Parry Organic Spirulina from Parry Nutraceuticals recently announced their successful passing of the United States Pharmacopeia’s voluntary and rigorous Dietary Ingredient Verification Program (DIVP). This program aids manufacturers to differentiate and gain a competitive edge over their market peers.
Market Segmentation
The latest MRFR report has been studied for various segments of the global Spirulina Market Revenue. This segmentation has been carried out on the basis of form, application, and region. On the basis of form, the global Spirulina Market Revenue is segmented into powder, liquid, capsule & tablet, and gelling agent. Among these, the powder segment is expected to hold the largest share in the global spirulina market during the forecast period. The powder segment is likely to develop at 8.23% CAGR through the forecast period. 
On the basis of application, the spirulina market is segmented into food & beverages, nutraceuticals, cosmetic & personal care, and pharmaceuticals. Among these segments, the nutraceutical segment is estimated to witness the fastest and highest growth rate during the assessment period. The nutraceutical segment is projected to register an 8.34% CAGR through the review period. 
Access Full Report Details and Order this Premium Report @ https://www.marketresearchfuture.com/reports/spirulina-market-1321
Detailed Regional Analysis
The global spirulina market is geographically segmented into North America, Europe, Asia Pacific, and Rest of the World. Among these segments, Asia Pacific is estimated to spearhead the global spirulina market over the forecast period. Asia Pacific is projected to expand at an 8.45% CAGR over the review period. This can be accredited to the high production of spirulina in China, Japan, India, and many other East Asian countries.
Additionally, Asia Pacific is a fragmented market for spirulina owing to the presence of many small manufacturers in India and China. China is projected to lead the country-specific region in Asia Pacific, just like it did in 2019, holding around 40% share in the spirulina market. North America is likely to reach a market valuation of USD 129.20 million by the end of the forecast period. Alternatively, Rest of the World is expected to expand at a moderate CAGR of 7.54% CAGR during the assessment period of 2019-2023. 
Related Covid-19 Analysis on FnB Reports: 
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.

Comments

Post a Comment

Popular posts from this blog

Matcha Tea Market Analysis | COVID – 19 Outbreak, Key Players and Forecast to 2023

Market Overview Global Matcha Tea Market is expected to exhibit a strong 9.69% CAGR over the forecast period from 2019 to 2023, according to the latest research report from Market Research Future (MRFR). The global matcha tea market is mainly driven by the growing demand for its antioxidant-rich properties, which help consumers control their blood pressure, cholesterol, and weight. The global matcha tea market is given a thorough look over in the MRFR report, which uses the previous growth trajectory of the matcha tea market to compile and present the likely growth trajectory of the market over the forecast period. The major drivers and restraints affecting the global matcha tea market are also assessed in the report to provide readers with a comprehensive overview into the market’s growth dynamics.  Matcha tea is a type of green tea rich in vitamin C, zinc, selenium, magnesium, chromium, and antioxidants. Matcha is even richer in antioxidants and vitamin C than regular green tea, whic
Read more

COVID-19 Impact on Specialty Frozen Bakery Market Growth and Forecast to 2022

Market Overview COVID-19 Impact on Specialty Frozen Bakery Market have been perceiving an augmented demand mainly due to the growing popularity of artisanal bakery products. Lower temperatures during freezing enhances shelf life of the products. Consumers are increasingly buying the artisanal baked products to enhance flavor to their kitchens, encouraging bakers to find new ways to match with consumer preferences. This is further opening up opportunities for Specialty Frozen Bakery to reach across regions worldwide and cater to more consumers. All these factors have a positively impacted the market growth of Specialty Frozen Bakery escalating it to the ascended heights on the global platform. Increase in demand of specialty frozen bakery from quick service restaurants and foodservices will drive the global specialty frozen bakery market during the forecast period. Other factors that will contribute to the market growth include growing urbanization, changing consumption patterns,
Read more
Bakery Products Market Insight The high inclination towards convenience food among the increasing working population is driving the growth of bakery products market. The changing consumption pattern has increased the demand for bakery products in past few years. Bakery products offer convenience for the ones who travel to work and rely on pocket friendly foods Many baked products include high levels of fat, sugar, and sometimes fruit or nuts, which increases the energy content of such products. Also, advancement in processing technology has enabled inclusion of various ingredients that enhance taste, appearance and overall nutritive value of baked products supporting the growth of bakery products market. Bakery Products Market Key Players The key players involved in this market are highly focused into new product launches and expanding their product offerings. Also, there are new entrants in the market based on tremendous growth witnessed in the bakery products market. Due to g
Read more