Spirulina Protein Market Size Exceed $1,036.98 Million By 2032 | CAGR: 9.3%

Spirulina Protein Market Size Worth $1,036.98 Million By 2032 | CAGR: 9.3%

The global spirulina protein market size is expected to reach USD 1,036.98 million by 2032, according to a new study by Polaris Market Research. The report “Spirulina Protein Market Share, Size, Trends, Industry Analysis Report, By Species (Arthrospira Plantesis and Arthrospira Maxima); By Form; By Application; By Region; Segment Forecast, 2023- 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Increasing usage of spirulina in the production of pharmaceuticals, vaccines, vitamins, nutraceuticals, and many other nutrients for the enhanced treatment of diabetes, multiple sclerosis, cancer, and many other chronic disorders are major factors influencing the growth of the market. In addition, the rapid increase in government and private initiatives supporting the spirulina development and improving the quality and sustainability of the product will further increase the opportunities for market growth.

For instance, in January 2023, SimpliiGood & Haifa Group announced they had signed a long-term strategic agreement to transform the spirulina market. Under this agreement, both companies will focus on enhancing sustainability, efficiency, and quality of the spirulina production to bolster the supply chain of spirulina, innovate new products, and establish a global circular economy. Similarly, in January 2023, Ancient Nutrition unveiled its new organic SuperGreens formulation in powder formats. The new product line includes 25+ superfoods, mainly developed with proprietary blends to effectively deliver detoxification and nutrient boosts.

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In recent years, spirulina has emerged as one of such ingredients that are being widely consumed by consumers worldwide, owing to its wide range of health benefits, and many people are using spirulina as a self-care strategy for energy, weight control, cleansing, and insurance. Apart from using spirulina protein as a food supplement for various nutritional deficiencies, it has also gained more attention from different medical scientists as a nutraceutical. Owing to its highly diverse nutritive nature and several antioxidant and proactive health benefits, spirulina has gained significant traction among health enthusiasts across the globe, eventually boosting its demand and growth.

Spirulina Protein Market Report Highlights

  • Arthrospira plantesis segment accounted for largest market share in 2022, which is mainly driven by increased number of health-conscious people and growing consumer awareness regarding the benefits of spirulina
  • Powder segment held the significant market revenue share in 2022, on account of surge in the need for spirulina powder from the nutraceutical and various large food manufacturers
  • Functional food & beverages segment is expected to grow at a significant CAGR during the anticipated period, due to the adoption of spirulina products as a major source of healthy food ingredient
  • Asia Pacific region is projected to emerge as fastest growing region over the study period, owing to presence of favorable climatic situations and rise in the number of government initiatives towards the use of spirulina
  • Global key market players include Nutrex Hawaii, Cyanotech Corporation, DIC Corporation, Dongtai City Spirulina, & Phycom Microalgae

Polaris Market Research has segmented the spirulina protein market report based on species, form, application, and region:

Spirulina Protein, Species Outlook (Revenue - USD Million, 2019 - 2032)

  • Arthrospira Plantesis
  • Arthrospira Maxima

Spirulina Protein, Form Outlook (Revenue - USD Million, 2019 - 2032)

  • Capsule
  • Powder
  • Tablets

Spirulina Protein, Application Outlook (Revenue - USD Million, 2019 - 2032)

  • Dietary Supplements
  • Functional Foods and Beverages
  • Bakery & Confectionery
  • Pharmaceuticals
  • Animal Feed
  • Cosmetics
  • Others

Spirulina Protein, Regional Outlook (Revenue - USD Million, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa