Spirulina Capsules Market Size (2024 –2030)

The Global Spirulina Capsules Market is estimated to be worth USD 418.67 million in 2023 and is projected to reach a value of USD 795.33 million by 2030, growing at a CAGR of 9.6% during the forecast period 2024-2030.

A nutritious food that is also beneficial to the environment is spirulina. It can assist in lowering blood sugar, cholesterol, and blood pressure. Certain compounds found in spirulina, such as phenols, phycocyanins, and polysaccharides, help our bodies fight off illnesses and inflammation. In addition, spirulina is a rich source of vital nutrients such as vitamins and minerals that support good health. The US FDA approved the use of spirulina in drinks for hues other than bright blue, such as navy blue and violet. Thus, beverages can have their natural color without the need for artificial coloring agents. To find applications for the leftover spirulina parts that aren't used for food, ScotBio is collaborating with multiple universities. There are unique properties in these leftovers that help fight viruses, so finding new uses for them could be very beneficial.

Key Market Insights:

The global spirulina capsules market is estimated to be around $418 million in value, driven by the rising demand for plant-based nutritional supplements.North America accounts for nearly 35% of the global spirulina capsules market share, attributed to the increasing health consciousness and preference for clean-label products among consumers.The organic spirulina capsules segment holds a market share of over 40%, reflecting the growing consumer preference for organic and natural products.The e-commerce distribution channel is expected to grow at a rate of around 12% annually, driven by the convenience and wider product availability offered by online platforms.The sports nutrition segment contributes to around 20% of the overall spirulina capsules market, owing to the use of spirulina as a dietary supplement for enhancing athletic performance.

Global Spirulina Capsules Market Drivers:

The Dietary Supplements Industry and Growing Health & Wellness Trends Will Drive the Spirulina Market's Growth.

Yes, of course! The use of dietary supplements, such as vitamins and herbal products, is growing among people. Sales have increased significantly, particularly since the COVID-19 pandemic. Experts predict that worldwide sales could hit $252 billion by 2025! Numerous factors, including the desire of an aging population to maintain their health, the rise in self-diagnosis, the abundance of supplementation options, and the marketing strategies of companies to highlight the whole picture rather than just particular components, are contributing to this growth.

Promote the use of spirulina-derived natural food coloring instead.

Because it is healthy and can be used to create natural food colors, spirulina is gaining a lot of popularity. Even some governments are encouraging its production to provide financial support to rural areas. The market for natural colors is expanding as a result of artificial color bans in Europe. Spirulina's blue color is particularly well-liked in meals and beverages. Spirulina also helps with cholesterol and fights inflammation, among many other health benefits. For this reason, an increasing number of beverage, food, and cosmetics companies are utilizing it.

Spirulina Capsules Market Challenges and Restraints:

Many people are unaware of the basic properties and applications of spirulina. People may also decide to use alternative options for health supplements. Spirulina can be more costly to produce than other supplements because it needs specialized facilities and equipment. Thus, these factors may moderate the global spirulina market. The lack of knowledge among the general public is one of the major issues facing the market for spirulina. Many people are unaware of the health benefits of spirulina, even though it is extremely beneficial. Protein, vitamins, minerals, and antioxidants are just a few of the many nutrients found in spirulina, but not everyone is aware of them all. Furthermore, the majority of people may not be open to trying something new, like spirulina, since they are accustomed to eating different kinds of food. It's also possible that people don't know how to cook with spirulina or think it tastes strange. It is difficult for spirulina to gain traction because of these factors. To address this, we must spread awareness of the benefits of spirulina, demonstrate its health benefits, and develop innovative methods for presenting it in a way that is both enticing and practical.

Spirulina Capsules Market Opportunities:

The market for spirulina capsules is booming, driven by a global upsurge in health consciousness. The demand for supplements like spirulina capsules, which are well-known for their nutritional advantages, is rising as more people adopt plant-based diets and place a higher priority on their overall well-being. Increasing the number of distribution channels available to reach a wider audience and enter new markets includes using online platforms and forming strategic partnerships. Constant innovation in product formulation and packaging can set brands apart and draw in customers looking for convenient and enticing supplement options. Adopting transparent production procedures and sustainable sourcing methods satisfies consumer demands for morally and environmentally sound products. Moreover, leveraging regulatory assistance and earning certifications can boost consumer confidence in the quality and safety of products. Businesses can stimulate growth, draw in new clients, and position themselves as industry leaders in the competitive spirulina capsules market by taking advantage of these opportunities and investigating emerging markets.

SPIRULINA CAPSULES MARKET REPORT COVERAGE:

Global Spirulina Capsules Market Segmentation: By Application

• Nutraceuticals

• Food & Beverages

• Animal Feed

• Cosmetics

• Agriculture

The primary segments of the market are food and beverage products, cosmetics, nutraceuticals, and others. Nutraceuticals are unique foods or supplements that offer additional health benefits in addition to basic nutrition. They are categorized according to their origins and areas of expertise. The majority are divided into two categories: functional foods, such as probiotic-rich yogurt, and dietary supplements, which are concentrated forms of beneficial ingredients like vitamins and herbs that are taken as pills or powders.

Global Spirulina Capsules Market Segmentation: By Type

• Arthrospira platensis

• Arthrospira maxima

With 40% of sales predicted to come from the Arthrospira platensis variety of spirulina, it is anticipated to generate the highest profit in the global market. This variety is growing in popularity due to its reputation as a superfood with numerous health advantages. According to USFDA research, it contains essential nutrients like calcium, niacin, potassium, magnesium, B vitamins, and iron. Arthrospira Maxima, a different species, is predicted to grow at the fastest rate—a 32% increase. It can help you lose weight, keep you healthy, give you energy, and cleanse your body when consumed regularly.

Global Spirulina Capsules Market Segmentation: By Distribution Channel

• Business Channel

• Consumer Channel

Business channels are anticipated to account for 55% of the spirulina market. This is because a lot of manufacturers purchase large quantities of spirulina directly to create new goods like food, beverages, animal feed, and supplements for health.

Global Spirulina Capsules Market Segmentation: By Region

• North America

• Europe

• Asia-Pacific

• South America

• Middle East and Africa

The largest spirulina market is anticipated to be in North America, followed by those in Asia-Pacific, Europe, South America, and the Middle East and Africa. People in North America have a strong understanding of natural foods and dislike artificial coloring. In addition, the demand for healthier supplements is rising, and sectors like biofertilizers and cosmetics are expanding. People like their protein from natural sources, and the US is one of the major producers of spirulina. The spirulina market is anticipated to expand at the fastest rate in Europe. This is a result of developments in the study of microalgae for health foods, increased consumer awareness of natural foods, decreased use of artificial coloring, and the use of phycocyanin, a pigment found in spirulina, in the production of health products. Large corporations are investing in the natural blue color market because it is in demand.

COVID-19 Impact on the Global Spirulina Capsules Market:

Amidst the COVID-19 lockdowns, individuals hoarded food. Eating protein is crucial for maintaining health and getting over the virus, according to medical professionals. Although there has been a significant shift towards plant-based diets, more people are starting to consume both animal and plant proteins. The spirulina industry benefits from this increased demand for protein sources like spirulina.

Latest Trend/Development:

Plant-based supplements are in high demand in the spirulina capsule market, particularly as consumers' concerns about environmental and personal health are growing. Businesses are constantly coming up with innovative ways to differentiate their goods, such as using unique ingredients or creating eye-catching packaging. The focus on health, particularly in light of the COVID-19 pandemic, has led to a surge in the use of supplements such as spirulina, which is well-known for its abundance of beneficial nutrients. These capsules are available online, at pharmacies, and in health food stores, among other locations. Businesses must also ensure that their products are of the highest caliber and adhere to all regulations, as well as that their spirulina is sourced sustainably and organically. Businesses can ensure that their products stand out in this crowded market by educating people about the advantages of spirulina and utilizing social media and advertisements.

Key Players:

1. Chr. Hansen Holding A/S.

2. Sensient Technologies Corporation

3. Parry Nutraceuticals Ltd.

4. Cyanotech Corporation

5. DIC Corporation

6. Naturex S.A.

7. Algenol Biofuels Inc.

8. Prolgae Spirulina Supplies Pvt. Ltd.

9. Dongtai City Spirulina Bio-engineering Co.

10. Fuqing King Dnarmsa Spirulina Co., Ltd.

Market News:

• In November 2022, the GNT Group unveiled Exberry Shade Bright Green, a green powder consisting of turmeric and spirulina. It works well as an ingredient in baking mixes and for flavoring food.