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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.
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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.
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.
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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.