Product Code: PM3129
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.
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)
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)
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Spirulina Protein Market Insights
- 4.1. Spirulina Protein Market - Application Snapshot
- 4.2. Spirulina Protein Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Increase in demand for natural ingredient
- 4.2.1.2. Promotion of the production of spirulina by the government
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Impact on spirulina production due to climate change
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTEL Analysis
- 4.5. Spirulina Protein Market Application Trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Spirulina Protein Market, by Species
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Spirulina Protein Market, by Species, 2019-2032 (USD Million)
- 5.3. Arthrospira Plantesis
- 5.3.1. Global Spirulina Protein Market, by Arthrospira Plantesis, by Region, 2019-2032 (USD Million)
- 5.4. Arthrospira Maxima
- 5.4.1. Global Spirulina Protein Market, by Arthrospira Maxima, by Region, 2019-2032 (USD Million)
6. Global Spirulina Protein Market, by Form
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Spirulina Protein Market, by Form, 2019-2032 (USD Million)
- 6.3. Capsule
- 6.3.1. Global Spirulina Protein Market, by Capsule, by Region, 2019-2032 (USD Million)
- 6.4. Powder
- 6.4.1. Global Spirulina Protein Market, by Powder, by Region, 2019-2032 (USD Million)
- 6.5. Tablets
- 6.5.1. Global Spirulina Protein Market, by Tablets, by Region, 2019-2032 (USD Million)
7. Global Spirulina Protein Market, by Application
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Global Spirulina Protein Market, by Application, 2019-2032 (USD Million)
- 7.3. Dietary Supplements
- 7.3.1. Global Spirulina Protein Market, by Dietary Supplements, By Region, 2019-2032 (USD Million)
- 7.4. Functional Foods and Beverages
- 7.4.1. Global Spirulina Protein Market, by Functional Foods and Beverages, By Region, 2019-2032 (USD Million)
- 7.5. Bakery & Confectionery
- 7.5.1. Global Spirulina Protein Market, by Bakery & Confectionery, By Region, 2019-2032 (USD Million)
- 7.6. Pharmaceuticals
- 7.6.1. Global Spirulina Protein Market, by Pharmaceuticals, By Region, 2019-2032 (USD Million)
- 7.7. Animal Feed
- 7.7.1. Global Spirulina Protein Market, by Animal Feed, By Region, 2019-2032 (USD Million)
- 7.8. Cosmetics
- 7.8.1. Global Spirulina Protein Market, by Cosmetics, By Region, 2019-2032 (USD Million)
- 7.9. Others
- 7.9.1. Global Spirulina Protein Market, by Others, By Region, 2019-2032 (USD Million)
8. Global Spirulina Protein Market, by Geography
- 8.1. Key findings
- 8.2. Introduction
- 8.2.1. Spirulina Protein Market Assessment, By Geography, 2019-2032 (USD Million)
- 8.3. Spirulina Protein Market - North America
- 8.3.1. North America: Spirulina Protein Market, by Species, 2019-2032 (USD Million)
- 8.3.2. North America: Spirulina Protein Market, by Application, 2019-2032 (USD Million)
- 8.3.3. North America: Spirulina Protein Market, by Form, 2019-2032 (USD Million)
- 8.3.4. Spirulina Protein Market - U.S.
- 8.3.4.1. U.S.: Spirulina Protein Market, by Species, 2019-2032 (USD Million)
- 8.3.4.2. U.S.: Spirulina Protein Market, by Application, 2019-2032 (USD Million)
- 8.3.4.3. U.S.: Spirulina Protein Market, by Form, 2019-2032 (USD Million)
- 8.3.5. Spirulina Protein Market - Canada
- 8.3.5.1. Canada: Spirulina Protein Market, by Species, 2019-2032 (USD Million)
- 8.3.5.2. Canada.: Spirulina Protein Market, by Application, 2019-2032 (USD Million)
- 8.3.5.3. Canada: Spirulina Protein Market, by Form, 2019-2032 (USD Million)
- 8.4. Spirulina Protein Market - Europe
- 8.4.1. Europe: Spirulina Protein Market, by Species, 2019-2032 (USD Million)
- 8.4.2. Europe.: Spirulina Protein Market, by Application, 2019-2032 (USD Million)
- 8.4.3. Europe: Spirulina Protein Market, by Form, 2019-2032 (USD Million)
- 8.4.4. Spirulina Protein Market - UK
- 8.4.4.1. UK: Spirulina Protein Market, by Species, 2019-2032 (USD Million)
- 8.4.4.2. UK.: Spirulina Protein Market, by Application, 2019-2032 (USD Million)
- 8.4.4.3. UK: Spirulina Protein Market, by Form, 2019-2032 (USD Million)
- 8.4.5. Spirulina Protein Market - France
- 8.4.5.1. France: Spirulina Protein Market, by Species, 2019-2032 (USD Million)
- 8.4.5.2. France.: Spirulina Protein Market, by Application, 2019-2032 (USD Million)
- 8.4.5.3. France: Spirulina Protein Market, by Form, 2019-2032 (USD Million)
- 8.4.6. Spirulina Protein Market - Germany
- 8.4.6.1. Germany: Spirulina Protein Market, by Species, 2019-2032 (USD Million)
- 8.4.6.2. Germany.: Spirulina Protein Market, by Application, 2019-2032 (USD Million)
- 8.4.6.3. Germany: Spirulina Protein Market, by Form, 2019-2032 (USD Million)
- 8.4.7. Spirulina Protein Market - Italy
- 8.4.7.1. Italy: Spirulina Protein Market, by Species, 2019-2032 (USD Million)
- 8.4.7.2. Italy.: Spirulina Protein Market, by Application, 2019-2032 (USD Million)
- 8.4.7.3. Italy: Spirulina Protein Market, by Form, 2019-2032 (USD Million)
- 8.4.8. Spirulina Protein Market - Spain
- 8.4.8.1. Spain: Spirulina Protein Market, by Species, 2019-2032 (USD Million)
- 8.4.8.2. Spain.: Spirulina Protein Market, by Application, 2019-2032 (USD Million)
- 8.4.8.3. Spain: Spirulina Protein Market, by Form, 2019-2032 (USD Million)
- 8.4.9. Spirulina Protein Market - Netherlands
- 8.4.9.1. Netherlands: Spirulina Protein Market, by Species, 2019-2032 (USD Million)
- 8.4.9.2. Netherlands.: Spirulina Protein Market, by Application, 2019-2032 (USD Million)
- 8.4.9.3. Netherlands: Spirulina Protein Market, by Form, 2019-2032 (USD Million)
- 8.4.10. Spirulina Protein Market - Russia
- 8.4.10.1. Russia: Spirulina Protein Market, by Species, 2019-2032 (USD Million)
- 8.4.10.2. Russia.: Spirulina Protein Market, by Application, 2019-2032 (USD Million)
- 8.4.10.3. Russia: Spirulina Protein Market, by Form, 2019-2032 (USD Million)
- 8.5. Spirulina Protein Market - Asia Pacific
- 8.5.1. Asia Pacific: Spirulina Protein Market, by Species, 2019-2032 (USD Million)
- 8.5.2. Asia Pacific.: Spirulina Protein Market, by Application, 2019-2032 (USD Million)
- 8.5.3. Asia Pacific: Spirulina Protein Market, by Form, 2019-2032 (USD Million)
- 8.5.4. Spirulina Protein Market - China
- 8.5.4.1. China: Spirulina Protein Market, by Species, 2019-2032 (USD Million)
- 8.5.4.2. China.: Spirulina Protein Market, by Application, 2019-2032 (USD Million)
- 8.5.4.3. China: Spirulina Protein Market, by Form, 2019-2032 (USD Million)
- 8.5.5. Spirulina Protein Market - India
- 8.5.5.1. India: Spirulina Protein Market, by Species, 2019-2032 (USD Million)
- 8.5.5.2. India.: Spirulina Protein Market, by Application, 2019-2032 (USD Million)
- 8.5.5.3. India: Spirulina Protein Market, by Form, 2019-2032 (USD Million)
- 8.5.6. Spirulina Protein Market - Malaysia
- 8.5.6.1. Malaysia: Spirulina Protein Market, by Species, 2019-2032 (USD Million)
- 8.5.6.2. Malaysia.: Spirulina Protein Market, by Application, 2019-2032 (USD Million)
- 8.5.6.3. Malaysia: Spirulina Protein Market, by Form, 2019-2032 (USD Million)
- 8.5.7. Spirulina Protein Market - Japan
- 8.5.7.1. Japan: Spirulina Protein Market, by Species, 2019-2032 (USD Million)
- 8.5.7.2. Japan.: Spirulina Protein Market, by Application, 2019-2032 (USD Million)
- 8.5.7.3. Japan: Spirulina Protein Market, by Form, 2019-2032 (USD Million)
- 8.5.8. Spirulina Protein Market - Indonesia
- 8.5.8.1. Indonesia: Spirulina Protein Market, by Species, 2019-2032 (USD Million)
- 8.5.8.2. Indonesia.: Spirulina Protein Market, by Application, 2019-2032 (USD Million)
- 8.5.8.3. Indonesia: Spirulina Protein Market, by Form, 2019-2032 (USD Million)
- 8.5.9. Spirulina Protein Market - South Korea
- 8.5.9.1. South Korea: Spirulina Protein Market, by Species, 2019-2032 (USD Million)
- 8.5.9.2. South Korea.: Spirulina Protein Market, by Application, 2019-2032 (USD Million)
- 8.5.9.3. South Korea: Spirulina Protein Market, by Form, 2019-2032 (USD Million)
- 8.6. Spirulina Protein Market - Middle East & Africa
- 8.6.1. Middle East & Africa: Spirulina Protein Market, by Species, 2019-2032 (USD Million)
- 8.6.2. Middle East & Africa.: Spirulina Protein Market, by Application, 2019-2032 (USD Million)
- 8.6.3. Middle East & Africa: Spirulina Protein Market, by Form, 2019-2032 (USD Million)
- 8.6.4. Spirulina Protein Market - Saudi Arabia
- 8.6.4.1. Saudi Arabia: Spirulina Protein Market, by Species, 2019-2032 (USD Million)
- 8.6.4.2. Saudi Arabia.: Spirulina Protein Market, by Application, 2019-2032 (USD Million)
- 8.6.4.3. Saudi Arabia: Spirulina Protein Market, by Form, 2019-2032 (USD Million)
- 8.6.5. Spirulina Protein Market - UAE
- 8.6.5.1. UAE: Spirulina Protein Market, by Species, 2019-2032 (USD Million)
- 8.6.5.2. UAE.: Spirulina Protein Market, by Application, 2019-2032 (USD Million)
- 8.6.5.3. UAE: Spirulina Protein Market, by Form, 2019-2032 (USD Million)
- 8.6.6. Spirulina Protein Market - Israel
- 8.6.6.1. Israel: Spirulina Protein Market, by Species, 2019-2032 (USD Million)
- 8.6.6.2. Israel.: Spirulina Protein Market, by Application, 2019-2032 (USD Million)
- 8.6.6.3. Israel: Spirulina Protein Market, by Form, 2019-2032 (USD Million)
- 8.6.7. Spirulina Protein Market - South Africa
- 8.6.7.1. South Africa: Spirulina Protein Market, by Species, 2019-2032 (USD Million)
- 8.6.7.2. South Africa.: Spirulina Protein Market, by Application, 2019-2032 (USD Million)
- 8.6.7.3. South Africa: Spirulina Protein Market, by Form, 2019-2032 (USD Million)
- 8.7. Spirulina Protein Market - Latin America
- 8.7.1. Latin America: Spirulina Protein Market, by Species, 2019-2032 (USD Million)
- 8.7.2. Latin America.: Spirulina Protein Market, by Application, 2019-2032 (USD Million)
- 8.7.3. Latin America: Spirulina Protein Market, by Form, 2019-2032 (USD Million)
- 8.7.4. Spirulina Protein Market - Mexico
- 8.7.4.1. Mexico: Spirulina Protein Market, by Species, 2019-2032 (USD Million)
- 8.7.4.2. Mexico.: Spirulina Protein Market, by Application, 2019-2032 (USD Million)
- 8.7.4.3. Mexico: Spirulina Protein Market, by Form, 2019-2032 (USD Million)
- 8.7.5. Spirulina Protein Market - Brazil
- 8.7.5.1. Brazil: Spirulina Protein Market, by Species, 2019-2032 (USD Million)
- 8.7.5.2. Brazil.: Spirulina Protein Market, by Application, 2019-2032 (USD Million)
- 8.7.5.3. Brazil: Spirulina Protein Market, by Form, 2019-2032 (USD Million)
- 8.7.6. Spirulina Protein Market - Argentina
- 8.7.6.1. Argentina: Spirulina Protein Market, by Species, 2019-2032 (USD Million)
- 8.7.6.2. Argentina.: Spirulina Protein Market, by Application, 2019-2032 (USD Million)
- 8.7.6.3. Argentina: Spirulina Protein Market, by Form, 2019-2032 (USD Million)
9. Competitive Landscape
- 9.1. Expansion and Acquisition Analysis
- 9.1.1. Expansion
- 9.1.2. Acquisitions
- 9.2. Partnerships/Collaborations/Agreements/Exhibitions
10. Company Profiles
- 10.1. Far East Bio-Tec
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Form Benchmarking
- 10.1.4. Recent Development
- 10.2. Nutrex Hawaii
- 10.2.1. Company Overview
- 10.2.2. Financial Performance
- 10.2.3. Form Benchmarking
- 10.2.4. Recent Development
- 10.3. Phycom Microalgae
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Form Benchmarking
- 10.3.4. Recent Development
- 10.4. Cyanotech Corporation
- 10.4.1. Company Overview
- 10.4.2. Financial Performance
- 10.4.3. Form Benchmarking
- 10.4.4. Recent Development
- 10.5. Yunna Green A Bio-Engineering
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Form Benchmarking
- 10.5.4. Recent Development
- 10.6. Prolgae Spirulina Supplies
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Form Benchmarking
- 10.6.4. Recent Development
- 10.7. Australian Spirulina
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Form Benchmarking
- 10.7.4. Recent Development
- 10.8. Earthrise Nutritional
- 10.8.1. Company Overview
- 10.8.2. Financial Performance
- 10.8.3. Form Benchmarking
- 10.8.4. Recent Development
- 10.9. DIC Corporation
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Form Benchmarking
- 10.9.4. Recent Development
- 10.10. Algene Biotech
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Form Benchmarking
- 10.10.4. Recent Development
- 10.11. Tianjin Norland Biotech
- 10.11.1. Company Overview
- 10.11.2. Financial Performance
- 10.11.3. Form Benchmarking
- 10.11.4. Recent Development
- 10.12. Dongtai City Spirulina
- 10.12.1. Company Overview
- 10.12.2. Financial Performance
- 10.12.3. Form Benchmarking
- 10.12.4. Recent Development