Spirulina is the dietary supplement which is available in different forms such as tablet, powder and flake and enriched with protein, vitamin-B, minerals and carbohydrates. Spirulina is type of algae which is found in freshwater lakes, rivers and ponds. There are two species from which spirulina powder is prepared: Arthrospira platensis and Arthrospira maxima. The demand of spirulina powder is increasing in food and beverage industry as a dietary food supplement and also due to its high nutrient value. Moreover the demand of spirulina powder is also increased from the side of health care sector as its helps to prevent from cardiovascular diseases, cancer, problems related to digestive and immune system and many other health diseases.
Market dynamics of Spirulina Powder Market:
Key market drivers which are influencing the demand of spirunula powder in market is from the side of food manufacturers where it is used as dietary supplement as well as whole food. Food and beverage manufacturers are effectively using the spirulina powder for preparing healthy food products to attract primarily health conscious consumers. On the other side, spirulina powder is also gaining demand in market due to increasing number of health conscious consumers as it richly supply higher nutritional value including protein, iron, vitamin A, K, B and many other minerals which help in maintain good health. Spirulina powder is also trending in market as vegetarian dietary supplement which has higher demand among vegetarian consumers. One of the factor which restraints the growth of spirulina powder in market is scarce resources of spirulina as it is extracted from freshwater sources and available in very few regions of the world.
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Market Segment of Spirulina Powder Market:
Market of spirulina powder is segmented on the basis of application and distribution channel. On the basis of application, it is segmented into food and beverage. Spirulina powder is consumed as dietary supplement and added in different food recipes such as salads, breakfast meals, dessert and many other food products. On the other side spirulina powder is mixed with drinks such as water, juices, smoothies etc. Spirulina powder is distributed through hypermarket/supermarket, departmental stores, retailers and online channel of distribution. On analyzing the demand of spirulina powder, it has greater demand among health conscious consumers as the intake spirulina powder as dietary supplement in their daily routine as a healthy element. In terms of nutritional benefit, it is natural and 100% vegetarian product and includes vitamin A, K, B12, phytonutrients, protein, iron, manganese, beta carotene and also source of antioxidant. In terms of health benefits, spirulina powder helps in immune system support, brain support, weight management, joints and bones, eyesight and also supports to boost energy level of human body. In addition, the demand of spirulina powder is growing among vegetarian consumers as it is 100% vegetarian dietary supplement which fulfills the needs and demand of consumers who are seeking substitute for non-vegetarian supplement such as omega-3, prepared from fish oil.
Regional Segment of Spirulina Powder Market:
On the basis of regional segment, market of spirulina powder is segmented in five different regions: North America, Latin America, Europe, Asia-Pacific and Middle East and Africa. North America and Asia Pacific regions are the largest producers of spirulina and it is expected that North America, European and Asia Pacific are the largest market of spirulina powder as due to increasing demand of dietary supplements among health conscious and aging population.
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Market Players in Spirulina Powder Market:
Some of the key players in spirulina powder market are Naturya, NOW Foods, Algene Biotech, The All Natural Company, Earthrise Nutritionals, LLC, C.B.N.Spirulina Canada Co.,Ltd., BARDAKCIGROUP, Penn Herb Company, Ltd., Arwind Enterprise, AK Biotech, Sari food company.