Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Spirulina is a multicellular, filamentous blue-green microalgae that naturally grows in warm regions in the alkaline waters of lakes, ponds and rivers. These microalgae is harvested and processed easily and have significantly high macro- and micronutrient contents. The increasing consumer awareness on health and wellness and their growing interest to adopt spirulina as a natural food color instead of synthetic colors is fueling the market growth. It appears guarantee as a malignant growth precaution operator and in the treatment of tumors. Spirulina appears to have widespread cardiovascular benefits, including improvement of blood lipid profiles, atherosclerosis aversion and hypertension control. Moreover, Spirulina appears to have extensive potential for development, especially as a small-scale crop for nutritional enhancement, livelihood development and environmental mitigation. In particular, the production and use of spirulina has major advantages like its production occupies in small environmental footprint, with considerable efficiencies in terms of water use, land occupation compared to traditional terrestrial crops. Also has the potential for integration with rural organic waste treatment processes to improve both environmental conditions and improve energy transfer efficiencies.
The rising awareness among the population regarding health benefits of spirulina and wide application is the major factor propelling the growth of the spirulina market. Spirulina is gaining popularity due to several benefits associated includes high anti-oxidant, hypolipidemic, beta-carotene, and anti-inflammatory properties. The growing application in cosmetics and pharmaceutical industries is further expected to drive tremendous growth to this market during the forecast period. Further, the use of spirulina as protein supplement has gained considerable popularity in the human health food industry and in many developing countries, where there is prevalence of malnutrition which is fueling the market growth.
The exclusive COVID 19 impact analysis report by Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the Spirulina market. In addition, complete analysis of changes on the Spirulina expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. The COVID-19 impact on spirulina market was moderate as Spirulina is extremely rich in vitamin C and minerals these products were recommended in pandemic for strengthening immunity at great level. Production and supply chain disruption however affected the market growth for few months in pandemic.
The Spirulina market is segmented based on by type, by drug formulation, by application and geography.
The Spirulina are available in market according to different types like arthrospira platensis, arthrospira maxima.
The Arthrospira Platensis type was the major contributor in the global spirulina market growth owing to different factors such as surge in healthcare awareness and incorporation of spirulina in diets as super food globally. Spirulina Platensis gives enormous and incredible medical benefits to malnourished children, particularly under the age of five. Spirulina shows strong invulnerable animating impacts, shows antiviral movement against an assortment of hurtful infections. It is generally utilized as a Nutraceuticals nourishment supplement around the world which further fuels the market growth.
Depending on drug formulation Spirulina is accessible in powder, tablet & capsule, liquid, granule & gelling agent.
Powder segment holds a dominant position in drug formulation due to ease of application as compared to liquid forms. The spirulina powder market is expected to gain pace owing to government support encouraging production. Further, manufacturers are introducing new and exclusive products that attract consumers which in turn are likely to remain indispensable to the growth of the spirulina powder sector. The consumption and production of spirulina powder is increasing rapidly. Furthermore, tablet and capsule is expected to be the second largest segment during the forecast period.
Spirulina market finds its major application in nutraceuticals, cosmetic & personal care, food & beverages, animal feed, bio-fuel
Nutraceuticals application accounts the significant market share owing to rise in concern regarding health and nutrition and preference for natural organic alternative to traditional pharmaceutical products. Spirulina acts as food supplement with low or negligible side effects. One such Nutraceuticals is blue green algae, spirulina which is been used as part of human diet. The highly diverse nutritive nature of spirulina in Nutraceuticals provided with antioxidant and protective health benefits have been utilized in various health related problems. Furthermore, in cosmetic & personal care application spirulina has its major used in cosmetic formulators to promote healthy sunscreen protection, to treat skin pigmentation disorders and to heal wounds. Most of commercial cosmetics includes large range of spirulina properties, including antioxidant, revitalizing, demineralizing, moisturizing, protecting alongside cleansing and shining action, hydration, acts skin barrier function and oil control both for hair and for skin.
Geographically the global Spirulina market is studied for the following region North America, Europe, Asia Pacific and LAMEA
North America is the leading market in the global spirulina market owing to increasing demand naturally derived food coloring agents in the regions. On the other hand Asia Pacific is anticipated to grow at the highest CAGR during the forecast period owing to robust economic growth in food industry as it offers lucrative opportunities to market players for launch innovative products. Furthermore rising urbanization and increasing middle class population is further fueling the regional growth. Also, increasing demand for spirulina powder among vegetarian consumer is another key factor driving the region growth in global spirulina market. Moreover, rapid growing aquaculture and extensive consumption of spirulina in aquatic farming and hatchery is expected to boost the spirulina market.
The major players in Spirulina market are Cyanotech Corporation, DIC Corporation, Chr. Hansen Holding A/S, Dongtai City Spirulina Bio-engineering Co., Ltd., Algenol Biofuels Inc., Prolgae, Sensient Technologies Corporation, Parry Neutraceuticals, DDW Inc., Naturex S.A., Algatec., Fuqing King Dnarmsa Spirulina Co., Ltd., GNC Holdings, Inc. , GNT Holding B.V. and Now Health Group Inc. among others.
October 2020: Lubrizol life science had launched advanced, natural nutraceuticals solution to support mental agility. The product name Astagile microcapsules, new sustainable, organic-certified, astaxanthin (Haematococcus pluvialis), microencapsulated with spirulina. The two ingredients have been uniquely combined in a patent-pending product designed to promote mental agility and support healthy ageing for young and senior adults.
June 2020: DIC had launched small-volume (100 grams) bottled liquid version of Linablue natural blue food coloring. The natural plan derived pigment extracted from DIC Spirulina, Linablue continues to attract global attention and is used widely not only by overseas food product manufacturers concerned about food safety, but also by prominent domestic manufacturers, including the producer of a famous soda-flavored frozen confectionery.
The report analyses the global Spirulina market based on by type, by drug formulation, by application and geography. The Spirulina are available in market according to different types like arthrospira platensis and arthrospira maxima. Depending on drug formulation Spirulina is accessible in powder, tablet & capsule, liquid, granule & gelling agent. Moreover, spirulina market finds its major application in nutraceuticals, cosmetic & personal care, food & beverages, animal feed, bio-fuel. Geographically the global Spirulina market is studied for the following region North America, Europe, Asia Pacific and LAMEA.
The major players in Spirulina market are Cyanotech Corporation, DIC Corporation, Chr. Hansen Holding A/S, Dongtai City Spirulina Bio-engineering Co., Ltd., Algenol Biofuels Inc., Prolgae, Sensient Technologies Corporation, Parry Neutraceuticals, DDW Inc., Naturex S.A., Algatec., Fuqing King Dnarmsa Spirulina Co., Ltd., GNC Holdings, Inc. , GNT Holding B.V. and Now Health Group Inc. among others.
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