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Spirulina Protein Market size to exceed $500 Mn by 2030

  • Published Date: November 7, 2022

Spirulina Protein Market size is anticipated to surpass USD 500 million by 2030, as per a new research report announced by Global Market Insights Inc.

Governments worldwide are increasingly offering financial aid for enhancing food security. According to a paper published by the International Monetary Fund (IMF), spending of around USD 5 billion to USD 7 billion is necessary to help vulnerable households across 48 countries. With a growing focus on easy access to nutritional food, the demand for protein-rich ingredients such as spirulina will increase over the forthcoming years.

The awareness and demand for dietary supplements has witnessed considerable surge of the past few years. Continuous rise in chronic illness and lifestyle related disorders has fueled the adoption of suitable consumables. In addition, the production of functional beverages has also expanded, creating strong demand for required ingredients such as spirulina protein. Sustained consumption of meat products across Asian economies will bolster the market outlook across animal feed applications.

Growing demand for natural protein to increase consumption of arthrospira maxima

Spirulina protein market value from the arthrospira maxima species segment was worth USD 75 million in 2021. Rising disposable income among the wealthy population has increased the demand for high-quality protein products. Spirulina protein sources such as arthrospira maxima are gaining steady traction in various health and nutrition applications, given their high nutritional content and ability to fulfill specific dietary roles. In addition, the rising interest in limiting the consumption of animal protein has increased consumer inclination toward plant-based proteins such as spirulina, boosting product acceptance.

Ease of consumption will influence the demand for spirulina protein capsules

Capsule dosage form segment is projected to register more than 6.5% CAGR between 2022-2030. Capsules are easy to consume in comparison to other dosage forms, as they are not required to be stirred or shaken with other ingredients. Furthermore, the growing demand for nutraceutical products has increased the consumption of plant-based proteins such as spirulina, thereby stimulating spirulina protein market development.

Awareness of nutritional benefits to boost spirulina protein use in functional foods & beverages

Functional food and beverage application segment is expected to record over 7.5% CAGR from 2022-2030. This growth can be credited to the nutritional and health benefits offered by these products. Many functional foods are rich in antioxidants and can lower the risk of heart disorders. Additionally, the growing consumption of vegan foods has spurred the demand for spirulina proteins, which are emerging as essential ingredients to boost the nutritional value of plant-based food and beverage products.

Browse key industry insights spread across 250 pages with 272 market data tables and 9 figures & charts from the report “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”, in detail along with the table of contents:

Presence of major feed manufacturers to increase product consumption in North America

North America spirulina protein market is projected to depict over 6% CAGR from 2022 to 2030. This growth can be attributed to the rising presence of key feed manufacturers focused on using natural ingredients for product development. The animal feed industry in the United States is among the largest in the world, owing to the increased demand for livestock in the country.

This factor, alongside the expanding network of spirulina protein manufacturing facilities, will amplify product demand. Additionally, the growing demand for high protein-based diets, as well as the rising interest in vegan foods has encouraged the consumption of plant-based proteins such as spirulina, further stimulating regional market statistics.

Growing acceptance of spirulina protein as a nutritional ingredient to support industry expansion

Some of the major 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, and Yunna Green A biological Project Co. Ltd. Spirulina protein is gaining increasing acceptance from various organizations as a preferred nutritional product.

Additionally, the high content of edible bacteria and microorganisms in spirulina make it one of the most concentrated nutritional products available. The acknowledgment of such benefits offered by the protein will encourage companies to develop novel products and expand their market presence in the spirulina protein industry over the forthcoming years.

Authors: Kunal Ahuja, Tushar Malkani