Spirulina Market Size

Many factors determine the market size for spirulina, which ultimately influences its dynamics and growth trend. One of the main reasons why the market is expanding is because people keep coming to know about how nutritious spirulina is when consumed by humans. Another major factor in the market is malnutrition, especially in developing countries. By 2030, the Spirulina market is estimated to register a CAGR of 9.28%, reaching a value of USD 1.14 billion. In emerging markets, such as Asia-Pacific and Latin America, blue-green filamentous microalgae, known as spirulina, are being used increasingly as an additional nutrient component in poultry diets for animals like hens and chickens. Additionally, it is increasingly being recognized as a source of protein and micronutrients for fish.
Another important factor influencing the market competitiveness of spirulina is its versatility across different applications. It has also been found to be used in various animal feedstock, including poultry and fish feeds, other than just supplements for human use only. The shift towards natural and organic products is another major driver for Spirulina market conditions across the globe today. Being a natural product based on which natural food colors can be derived positions it well in the market. The global outbreak of COVID-19 has also influenced market dynamics. Health awareness has increased among consumers due to the pandemic, making them want products that contribute to their general well-being. As a result of these functional properties that improve immunity levels, there has been a growing demand for spirulina.
Environmentally conscious customers now look at sustainable features and eco-friendliness during the selection processes of any goods they intend to purchase related to spirulina farming practices, which are becoming indispensable environmental factors customers take into consideration when buying these products. There are environmental benefits related to this type of farming compared to traditional agriculture since land needn't be used extensively, and neither does water. Other factors include advanced technologies employed during the cultivation and processing of spirulina. Such innovations as photobioreactors, closed-loop systems, etc., have been responsible for increased productivity and product quality. Government initiatives and policies are also very important in shaping the Spirulina market in respective countries. Market factors also include constraints facing the Spirulina industry. Problems such as variations in quality, potential contamination, and the need for consistent regulations to maintain product standardization and guarantee safety surround the use of this stuff. These issues should be overcome to ensure that the market is constantly rising as well as customers' trust in its products.