Top Companies in Spirulina Market by Size, Share, Historical and Future Data & CAGR | Report by Vantage Market Research

Spirulina Market is projected to reach a value of USD 868.8 Billion by 2028 at a CAGR of 9.8% over the forecast period.

Top Companies in Spirulina Market by Size, Share, Historical and Future Data & CAGR | Report by Vantage Market Research
spirulina market

The Global Spirulina Market is valued at USD 495.8 Billion in 2021 and is projected to reach a value of USD 868.8 Billion by 2028 at a CAGR of 9.8% over the forecast period. The main drivers of market expansion are the growing demand for natural ingredients and R&D expenditures on industrial spirulina products.

Spirulina (Arthrospira platensis), a superfood with excellent nutritional value and environmental friendliness, is also antihypertensive, hypolipidemic, and hypoglycemic. Functional substances such as phenolics, phycocyanins, and polysaccharides, which have antioxidant, anti-inflammatory, and immunostimulant properties, are found in spirulina. Moreover, pharmaceutics, food manufacturing, medicine, fragrance, and agriculture use items made from spirulina. Due to its chemical makeup, which includes high concentrations of vitamins, minerals, phenolics, vital fatty acids, amino acids, and colors, spirulina can be used in food to promote human health. Spirulina is crucial in this situation as result.

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Also, government support for spirulina production spurs market expansion. In addition, unexplored markets in developing nations and the simplicity of spirulina cultivation due to technological advancement are predicted to support market expansion over the anticipated period. However, the effects of climate change on spirulina production limit the market's development. On the other hand, climate change's impact on spirulina production limits the market's expansion. 

The Spirulina market is dominated by globally established players such as Algenol Biofuels Inc. (U.S.), Cabassi & Giuriati SPA (Italy), Cyanotech Corporation (U.S.), DDW Inc. (U.S.), DIC Corporation (Japan), DÖHLER GmbH (Germany), Dongtai City {{keyword}} Bio-Engineering Co. Ltd. (China), E.I.D. Parry Limited (India), ECHLORIAL (France), Givaudan International SA (Switzerland), Prolgae {{keyword}} Supplies Pvt. Ltd. (China), Pond Technologies Inc. (Canada), and Sensient Technologies Corporation (U.S.). 

Let’s Look at the Top Companies That are Taking the Spirulina Market by Storm 

  1. Algenol Biofuels Inc. (U.S.)

Global industrial biotechnology startup Algenol is commercializing its proprietary algae technology platform for ethanol and other biofuel production. Using proprietary algae, carbon dioxide, sunlight, and saltwater, Algenol's patented technology enables the production of the four most vital fuels (ethanol, diesel, gasoline, and jet fuel) for about $1.30 per gallon each at production rates of 8,000 total gallons of liquid fuel per acre per year.

  1. Cyanotech Corp. (U.S.)

The Cyanotech Corporation uses microalgae to create natural products. The business sells NatuRose natural astaxanthin, utilized worldwide in animal feed and agriculture. Moreover, Cynotech offers phycobiliproteins, fluorescent pigments used in the immunological diagnostics industry, and Spirulina Pacifica, a dietary supplement rich in nutrients.

  1. DIC Corporation (Japan)

Chemical manufacturer DIC Inc. focuses on printing inks, organic pigments, and thermosetting polymers. The business also produces polymers, specialty plastics, compounds, and other items like biochemicals, pressure-sensitive adhesives, and building materials.

  1. Dongtai City Spirulina Bio-Engineering Co. Ltd. (China)

One of the biggest Spirulina producers and suppliers worldwide is Spirulina Bio-engineering Co. (C.B.N. Spirulina). Around 20 nations and areas worldwide receive their Spirulina products, which are grown to be 100% pure and safe. A skilled manufacturer, Spirulina Bio-engineering Co. offers products of uncompromising quality and thorough manufacturing processes.

  1. ECHLORIAL (France)

eChlorial is a highly specialized eCommerce business run by a family for over 15 years and promotes and provides the general public with high-quality microalgae. With the knowledge and experience to deliver excellent chlorella, spirulina, astaxanthin, and more, eChlorial are microalgae expert. Since its founding in 2002, eChlorial has made a concerted effort to supply microalgae to the world by collaborating with leading European manufacturers and developing top-tier goods to promote happiness and health.

  1. E.I.D. Parry Limited (India)

E.I.D. - Parry (India) Ltd. is a well-rounded producer of seeds, sugar, ceramics, insecticides, fertilizers, and electronics. The business also branches out into producing acetic acid, wall tiles, organic fertilizers, bio-pesticides, and horticultural activities.

  1. Sensient Technologies Corporation (U.S.)

Sensient Technologies Company produces and sells specialty ingredients such as colors, tastes, and other additives. In addition, the company manufactures components for cosmetic products, food and beverage tastes, and pharmaceutical excipients. Globally, Sensient Technologies provides services to the pharma, nutraceutical, cosmetic, and personal care industries.

  1. Givaudan International SA (Switzerland)

Givaudan SA creates and sells tastes and perfumes using natural and artificial ingredients. The company sells its goods to companies that produce consumer goods, beverages, prepared foods, and fragrances. Givaudan is a global company.

  1. Pond Technologies Inc. (Canada)

Pond Technologies Inc. creates and develops technologies for reducing pollution. The Business provides a unique method for converting carbon dioxide into bioproducts. Pond Technologies works with the steel, oil & gas, cement, and power generation industries to cut emissions. Pond Technologies serve Canadian clients.

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