North America Spirulina Market is expected at USD xx.xx million in 2021 and is anticipated to extent an over of USD xx.xx million by the end of the assessment period. The North America Spirulina Market is estimated to experience reasonable growth to record a CAGR of xx.xx% throughout the estimate period (2021-2026).
Spirulina is multicellular, like filamentous microalgae which are generally blue-green in color. This type of microalgae has an easy process to follow when it comes to harvesting and processing. Furthermore, these microalgae are very important because they contain high micro and macro contents. Spirulina is also used as a protein supplement, as well as a healthy food for humans. For all these reasons, it has gained popularity, especially in the human health food industry. Many growing economies are using this spirulina microalgae as a complementary food ingredient in the feed of poultry such as chickens and chickens. Likewise, the use of spirulina is experiencing an increase, being used in the form of proteins, in addition to vitamins, for fish.
A company well-known as Grupo Nutresa has announced the acquisition of a majority stake in Productos Naturela S.A.S. The operation is carried out through the capitalization of the company, through a contribution of COP 3,200 million, which will be used to take advantage of its growth. Naturela is a startup born in Colombia in 2005 from the deep knowledge of three leading women around the cultivation and use of microalgae with high nutritional value.
Market Drivers and Restraints:
Due to growing consumer awareness of spirulina health benefits and spirulina's wide range of natural colors, the volume of the North America spirulina market is expected to increase in the near future. The government of emerging countries is also promoting the production of spirulina, keeping in mind its health benefits, which are helping to drive the growth of the North America spirulina market.
The lower stability and durability of natural spirulina colors are expected to hamper market growth during the forecast period compared to synthetic colors and strict government regulations. Rather, untapped markets in developing countries are expected to provide lucrative opportunities for market players. The impact of the determining factors must exceed that of the limitations. Spirulina is basically a cyanobacterium that grows in fresh and saltwater and belongs to a group of turquoise algae or single-celled microbes.
Spirulina powder is used in various industries. Compared to synthetic colors and strict government regulations, the stability and poor durability of natural spirulina-derived colors are expected to hamper market growth during the projection period. Limited spirulina resources, drawn from freshwater sources available in very few regions, are hampering market growth.
In the coming years, the nutraceutical industry is expected to account for a significant market share and dominate the overall spirulina market. In fact, nutrition and health care are growing and the preference for natural alternatives to traditional pharmaceuticals is increasing.
Spirulina is also mainly used in food and beverages because it has a high content of natural color that gives it the color blue and mixes it with other colors to achieve new custom colors like lavender, purple and yellow. In the cosmetics and personal care sector, it also finds its main use. It is also used primarily in cosmetics and personal care products, especially for anti-aging creams.
Impact of COVID-19 on North America Spirulina Market
The outbreak of the pandemic affected the operation of various manufacturing and production units. The spread of the pandemic, the degree of spread, adverse effects, and the death rate have raised important health systems issues in developed, developing, and underdeveloped economies, and raised system-related concerns. Immune and disease fighting ability of the human body.
There has been a subsequent increase in demand for immunity boosters for people to fight the pandemic, reduce the unwanted effects of the coronavirus, and boost immunity overall. To fight disease, immunity is of the utmost importance and therefore the demand for proteins and similar supplements is increasing in the world market. Governments of various economies are investing in research and development initiatives to develop immunity boosters available to their populations.
Additionally, widespread demand is pushing major market players to develop bulk spirulina supplements to meet the expectations of the supply chain mechanism. This plays an important role in helping temporarily closed manufacturing companies restart production and sourcing. This demand further helps workers get back to work in the production chain and helps the market recover from the losses of the pandemic period.
North America spirulina market is anticipated to see important development in the upcoming years. The United States spirulina market is leading with the dominant shares of the market due to the growing demand for natural food colors. The United States is also a major consumer and exporter of spirulina due to its wide spectrum of applications. Manufacturers incorporate spirulina into bakery, dairy, and confectionery products. The upward trend for clean and natural ingredients in the region is expected to drive growth in its market. Canada spirulina market is estimated to hit the largest CAGR in the foreseen years.
Cyanotech Corporation had the largest share of the North America Spirulina Market in terms of sales revenue in 2021.
Key players in the North America Spirulina Market include
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 North America Spirulina Market, By Type
6.1.1 Arthrosporic Platensis
6.1.2 Arthrosporic Platensis
6.1.3 Market Size Estimations & Forecasts (2021-2026)
6.1.4 Y-o-Y Growth Rate Analysis
6.1.5 Market Attractiveness Index
6.2 North America Spirulina Market, By Application
6.2.3 Food and Drink
6.2.7 Market Size Estimations & Forecasts (2021-2026)
6.2.8 Y-o-Y Growth Rate Analysis
6.2.9 Market Attractiveness Index
7. Geographical Landscape
7.1 North America Spirulina Market, by Region
7.2 North America - Market Analysis (2021 - 2026)
7.2.1 By Country
7.2.2 By Type
7.2.3 By Application
8. Key Player Analysis
8.1 Sunrise Nutrachem Group
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 NOW Foods
8.3 Cyanotech Corporation
8.4 GNC Holdings
8.5 Sensient Technologies Corporation, DDW
8.6 Prolgae Spirulina Supplies Pvt. Ltd.
8.7 Algenol, LLC
8.8 Chr. Hansen Holding A/S and
8.9 DIC Corporation
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures