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Spirulina Protein Market Size By Species (Arthrospira Plantesis, Arthrospira Maxima), By Dosage Form (Capsules, Powder, Tablets), By Application (Dietary Supplements, Functional foods and beverages {Bakery & confectionary, Breakfast cereals, Snacks}, Pharmaceuticals, Animal Feed {Poultry, Swine, Cattle, Aquaculture, Petfood}, Cosmetics), Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2030

  • Report ID: GMI5387
  • Published Date: Oct 2022
  • Report Format: PDF

Industry Overview

Spirulina Protein Market size was valued at over USD 268 million in 2021 and is expected to depict more than 7% CAGR from 2022-2030. Rising preference for protein-rich diets for animal feed to bolster industry growth over the forecast period.
 

Spirulina Protein Market

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Dietary supplements are included in the diet to lower the risk of health problems such as arthritis or osteoporosis. Although there is a rising need for proteins in the diet, the growing preference for plant-based foods has reduced the protein levels in the human body. Therefore, plant-based proteins such as spirulina are being used to provide the required nutrition without the consumption of meat. Moreover, the ease of availability of spirulina protein as a supplement at health food stores is increasing its consumer acceptance.
 

The challenges associated with the production of algae-based products may hamper the market growth to a certain extent. It is difficult to improve the growth rate and product synthesis of algae. Furthermore, it is challenging to dewater algae culture for producing biomass, pretreating biomass, and maximizing the fermentation process. Such complexities in the production process may limit the demand for plant-based spirulina proteins and impact industry growth.
 

Growing demand for clean label food products to increase arthrospira plantesis protein use

Spirulina Protein Market By Species

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Spirulina protein market value from the arthrospira plantesis species segment was worth USD 150 million in 2021. Arthrospira plantesis is rich in beta-carotene which makes it an essential component in various nutritional food products. Consuming essential nutrients such as beta-carotene is crucial for improving human skin health and metabolism. With rising awareness about food and health safety issues and the emergence of the clean-label movement, the demand for plant-based foods will increase, driving the use of spirulina proteins such asarthrospira plantesis.
 

Widespread product applicability to boost consumption of spirulina protein powder

Spirulina Protein Market By Dosage Form

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The market share from the powder dosage form is projected to register over 10% CAGR from 2022-2030. Protein powders are among the most preferred source of protein, as they can be mixed and consumed with drinks, smoothies, and other food products. These powders can also be included in a variety of products such as healthy snacks, and confectioneries, which may contribute to increased product usage. In addition, the growing acceptance of natural and plant-based protein alternatives will also augment the consumption of spirulina protein powder as a food supplement.
 

Growing consumer preference for nutrient-rich foods will fuel use of dietary supplements

Spirulina protein market value from the dietary supplements application segment is anticipated to exhibit over 6% CAGR between 2022-2030. The growing demand for food supplements has increased the development of novel dietary foods. Governments and industry leaders are catering to the rising consumer preference for plant-based protein supplements.
 

Since dietary supplements can provide nutritional enrichment to diets, their usage will grow steadily, in order to minimize health risks. Targeted nutrient enhancement will also contribute significantly to the growth of the nutrition and health sectors worldwide. This will fuel the consumption of dietary supplements like spirulina protein over the forthcoming years.
 

Increasing consumer demand for algae-based ingredients to bolster APAC spirulina protein market outlook

Spirulina Protein Market By Region

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Asia Pacific spirulina protein market size is anticipated to record over 7.5% CAGR from 2022-2030. This growth can be credited to the rising demand for algae-based ingredients as a source of protein. Spirulina protein is gaining traction among key feed manufacturers from the region, who use these ingredients in their animal feed products. Furthermore, the rapid development of the food & beverage sector is enabling the introduction of novel functional food products, which may drive regional market growth over the forecast period.
 

Strategic investments from key industry players to expand the competitive landscape

Some of the companies operating in the spirulina protein market include ENERGYbits Inc., Far East Bio-Tec Co. Ltd., Nutrex Hawaii Inc., Allmicroalgae, E.I.d parry (India) Ltd., Earthrise Nutritinals LLC, Phycom Microalgae, Cyanotech Corporation, Yunna Green A biological Project Co. Ltd., JUNE Group of Companies (JUNE Spirulina), Fuqing King Dnarmsa Spirulina Co. Ltd., and Prolgae Spirulina Supplies Pvt. Ltd. Most of these companies are making crucial investments in emerging organizations to develop novel products.
 

Impact of COVID-19 crisis on the spirulina protein market trends

The COVID-19 pandemic and the subsequent lockdowns resulted in people stockpiling their food. Healthcare organizations emphasized the importance of having a protein-based diet to tackle the virus outbreak. As per the National Health Services (NHS) of the United Kingdom, protein helps in repairing damaged body tissues, which compensates for the muscle loss caused by the virus. While the pandemic increased the consumption of both animal and plant proteins, there has been a significant shift in consumer preference for plant-based diets. This, in turn, has increased the demand for protein sources such as spirulina, creating a favorable outlook for the industry.
 

The spirulina protein market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons and revenue in USD Million from 2018 to 2030 for the following segments:

By Species

  • Arthrospira Plantesis
  • Arthrospira Maxima
  • Others

By Dosage form

  • Capsules
  • Powder
  • Tablets
  • Others

By Application

  • Dietary Supplements
  • Functional Food & Beverages 
    • Bakery & Confectionery
    • Breakfast Cereals
    • Snacks
  • Pharmaceuticals
  • Animal Feed
    • Poultry
    • Swine
    • Cattle
    • Aquaculture
    • Petfood
    • Others
  • Cosmetics
  • Others

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Sweden
    • Spain
    • Russia
    • Netherlands
    • Poland
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Thailand
    • Malaysia
    • Australia
  • Latin America
    • Brazil
    • Argentina
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa

 

Authors: Kunal Ahuja, Tushar Malkani

Frequently Asked Questions (FAQ) :

Global spirulina protein industry was worth more than USD 268 million in 2021 and is anticipated to exhibit over 7% CAGR between 2022-2030, on account of the growing demand for dietary supplements.

Spirulina protein industry share from the arthrospira plantesis segment was valued at USD 150 million in 2021, due to the rising awareness about the significance of functional ingredients for health and food safety.

Asia Pacific spirulina protein industry value is expected to depict more than 7.5% CAGR from 2022-2030, owing to the rising preference for algae-based protein ingredients.

ENERGYbits Inc., Far East Bio-Tec Co. Ltd., Nutrex Hawaii Inc., Allmicroalgae, E.I.d parry (India) Ltd. and Earthrise Nutritinals LLC are some of the major companies operating in the spirulina protein market.

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Premium Report Details

  • Base Year: 2021
  • Companies covered: 12
  • Tables & Figures: 281
  • Countries covered: 25
  • Pages: 250

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