Spirulina Market to Reach $779 Million by 2026 at 10.6% CAGR: Says AMR

Portland, OR, July 01, 2020 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global spirulina market garnered $346 million in 2018 and is anticipated to hit $779 million by 2026, growing at a CAGR of 10.6% during the forecast period, 2019–2026.Rise in demand for natural ingredients, promotion of the production of spirulina by government, and R&D activities for creating spirulina as commercial products have fueled the growth of the global spirulina market. On the other hand, impact on spirulina production due to climate change has hindered the growth to some extent. Nevertheless, untapped markets in the developing countries and development in cultivation technology have created multiple opportunities in the segment.Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/4222Based on type, the arthrospira platensis segment held the highest share in 2018, contributing to nearly three-fifths of the total market. Surge in healthcare awareness and incorporation of spirulina in diets as super food globally have worked as the driving factors. Arthrospira maxima, on the other hand, is projected to grow at the highest CAGR of 10.8% during the forecast period, 2019–2026.Based on drug formulation, the powder segment accounted for more than half of the total market share in 2018 and is anticipated to maintain its top status during the estimate period. Factors such as launch of new varieties of natural food colors produced from spirulina, natural health benefits of spirulina superfood, and various government initiatives pertaining to the production of spirulina have driven the growth.Based on region, North America contributed to 32.3% of the total market in 2018 and is expected to dominate during the study period. Rise in the demand for naturally derived food coloring agents in the region has spurred the growth. Simultaneously, Asia-Pacific is expected to register the highest CAGR of 11.4% throughout the forecast period.For Purchase Enquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/4222 Leading Market PlayersThe key market players analyzed in the report include DIC Corporation, Chr. Hansen Holding A/S, Prolgae, Cyanotech Corporation, Sensient Technologies Corporation, Parry Neutraceuticals, DDW Inc., Algatec Dongtai City Spirulina Bio-engineering Co., Ltd., Algenol Biofuels Inc., and Naturex S.A. They have adopted number of strategies such as teamwork, partnerships, mergers & acquisitions, developments, joint ventures, and others to come out with flying colors.Avenue Basic Plan | Library Access | 1 Year Subscription |Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.Avenue Library Subscription | Request for 14 days free trial of before buying:https://www.alliedmarketresearch.com/avenue/trial/starterGet more information:https://www.alliedmarketresearch.com/library-accessSimilar Reports:Artificial Intelligence in Drug Screening Market Opportunity Analysis and Industry Forecast, 2018 – 2025Ophthalmic Drugs Market – Global Opportunity Analysis and Industry Forecast, 2017-2023Osteoarthritis Pain Drugs Market – Global Opportunity and Forecast, 2020-2027About UsAllied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.Contact:
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