Food and beverages industry to lead the global spirulina market with the application of spirulina growing at a high rate
Spirulina powder is finding its way in many products. This is a result of FDA’s approval of the use of Spirulina in food and beverage products. The demand for Spirulina has started surging, and companies are now producing various types of products made from Spirulina. Spirulina has found applications in many industries such as food, beverages, cosmetics and spa treatments, animal feed, pet food and nutraceuticals. Most of the new products released in the market in the past two years are in the food and beverage industry. According to this research report, in terms of application, the dietary supplements and pharmaceuticals segment leads the global spirulina market with a market valuation of over US$ 380 Mn by the end of 2027. However, the food and beverages segment is projected to witness a higher growth rate. The food and beverages segment is anticipated to register a CAGR of 6.9% during the forecast period 2017-2027.
Several magical properties associated with spirulina are boosting the number of applications of spirulina powder
There are a lot of natural health benefits associated with spirulina. Spirulina possesses anti-oxidant, hypolipidemic and anti-inflammatory properties, which is helping the global spirulina powder market witness a high growth in demand among food products, beverages as well as in the cosmetics industry. Antioxidants protect the body from damage caused by harmful molecules (free radicals) and this improves the health of a person. Spirulina also consists of Vitamin A, C and E and Beta-carotene in large quantities with a minimal quantity of Lutein Zeaxanthin, all of which are antioxidants that help in preventing various diseases and critical medical conditions. Another major property of spirulina is that it prevents cancer. Spirulina has anticancer properties, reduces blood pressure, improves the symptoms of allergic rhinitis, helps in reducing anemia and helps in blood sugar control. Spirulina also helps in the prevention of certain medical conditions such as Alzheimer's disease, macular degeneration and arthritis related conditions.
Other than this, various natural colours are also produced by using spirulina, and much more are currently in the development phase. Spirulina Blue, a natural color produced from green-blue spirulina received approval from the FDA in 2013 and this opened a whole new segment for Spirulina products. Natural blue and green colour produced from spirulina is in high demand and has witnessed a strong market growth in the last two years. Many companies such as GNT Holdings B.V., DIC Corporation, DDW Inc., Chr. Hansen Holding A/S and Sensient Technologies Corp. are producing Spirulina Blue, which still seeks more producers due to increasing demand in the market.
A major obstacle in the growth of the spirulina powder market can be attributed to varying production of spirulina due to climate change
Several incidences have occurred recently that are different from regular occurrences and have hence drifted the supply of Spirulina away from customers. Environmental conditions are shifting the food supply to a negative growth, which is causing a widening of the demand-supply gap and creating hurdles in the food safety programmes of various countries. To name a few, in 2014, tornado and flood in China destroyed the Spirulina crop of many North and West China based companies and this affected the global market. The harsh climate affected the supply of spirulina and reduced the revenue of many companies. Such unforeseen natural incidents are expected to negatively impact revenue growth of the global Spirulina powder market.
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