The South East Asia Spirulina Market is slated to register a CAGR of 7.2% from 2024 to 2030 to reach $21.9 Million by 2030. The popularity of natural ingredients is rising due to changing lifestyles and the growing number of health-conscious consumers, positively impacting the demand for the spirulina market in Southeast Asia. The growth of the South East Asia spirulina market is mainly attributed to the increasing health & wellness trends, the growing dietary supplements industry, rising demand for natural food colors, positive environmental impact of spirulina cultivation, growing preference for spirulina-sourced products, and increasing use of the spirulina in aquaculture. Furthermore, growing demand for phycocyanin and rising demand for spirulina among biorefineries are expected to create market growth opportunities. However, the low awareness regarding the benefits of spirulina and the complexities in algae production is expected to hinder the growth of this market to some extent.
Rising Demand for Natural Food Colors is Expected to Boost the Demand for Spirulina as a Natural Colorant
The demand for natural food colors is increasing due to growing consumer awareness about organic products, the health hazards associated with synthetic colors, and the health benefits of natural food colors. The use of artificial production sources to increase food production has led to various health hazards. Nowadays, consumers’ rising health consciousness and inclination toward environment-friendly products are driving the demand for naturally grown food products in South East Asia and globally. As a result, food manufacturers are widely using natural food colors to restore the attractiveness of food and beverage products after processing. All these factors are driving the adoption of natural food colors.
Spirulina, which has a blue-green color, provides bright, vivid blue and green shades. It can be used in various types of confectionery and chewing gums. The FDA has approved the use of phycocyanin as a natural colorant in food and beverage products. Spirulina, being a major source of phycocyanin, demand has risen dramatically in Southeast Asia. The demand for spirulina is growing in the food processing industry. It is used in various applications, including beverages, dairy, confectionery, frosting, ice cream, dry beverage mixes, and yogurt.
Thus, the rising demand for natural food colors is boosting the adoption of spirulina, driving the growth of this market.
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Key Findings in the South East Asia Spirulina Market:
In 2024, the Powder Segment to Dominate the South East Asia Spirulina Market
Based on product type, the South East Asia spirulina market is segmented into powder, tablets, capsules, flakes, phycocyanin, and frozen spirulina. In 2024, the powder segment is expected to account for the largest share of the South East Asia spirulina market. The large market share of this segment is attributed to the rising demand for spirulina powder among nutraceutical manufacturers due to growing health consciousness among consumers, the growing popularity of the vegan diet, the increasing use of spirulina powder as an ingredient in various food & beverage products, and the increasing incorporation of herbal ingredients in cosmetic products.
The Business Channel Segment is Slated to Register the Highest CAGR During the Forecast Period
Based on distribution channel, the South East Asia spirulina market is segmented into business channels and consumer channels. The business channel segment is slated to register the highest CAGR during the forecast period. The rapid growth of this segment is attributed to the direct purchase of large quantities of spirulina by nutraceutical, food & beverage, and animal feed manufacturers, among others, from the business channel for further product development.
In 2024, the Nutraceuticals Segment to Dominate the South East Asia Spirulina Market
Based on the application, the South East Asia spirulina market is segmented into nutraceuticals, food & beverages, animal feed, cosmetics, and agriculture. In 2024, the nutraceuticals segment is expected to account for the largest share of the South East Asia spirulina market. The large market share of this segment is attributed to factors such as the growing health concerns of the aging population in various countries, the booming nutraceuticals sector, the growing desire for natural alternatives to traditional pharmaceutical products, and increased awareness among consumers of the link between nutrition and health.
Thailand: The Dominating Regional Market
The South East Asia market is segmented into five major regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Thailand is expected to account for the largest share of the South East Asia spirulina market. The large market share of this region is mainly attributed to the presence of many local and regional spirulina-producing players in this region, the growing need to eradicate malnutrition, growing health & wellness and clean label trends, and growing technological advancements in the food & beverage industry.
Key Players
The report includes a competitive landscape based on an extensive assessment of the key strategic developments by leading market participants in the industry. Some of the key players operating in the South East Asia spirulina market are Aurospirul (India), Far East Microalgae Ind Co., LTD (FEMICO) (Taiwan), Fuqing King Dnarmsa Spirulina Co., Ltd. (China), DIC Corporation (Japan), Cyanotech Corporation (U.S.), C.B.N. Bio-engineering Co., Ltd (China), Yunnan Green A Biological Project Co., Ltd. (a Subsidiary of Yunnan Spirin Biotechnology Co. Ltd) (China), Jiangshan Comp Spirulina Co., LTD (China), Inner Mongolia Rejuve Biotech Co., Ltd. (China), Bluetec Naturals Co., Ltd. (China), Taiwan Chlorella Manufacturing Company (TCMC) (Taiwan), Vedan Biotechnology Corporation (Taiwan), AlgoSource (France), Tianjin Norland Biotech Co., Ltd (China), Allmicroalgae Natural Products, SA (Portugal), Algalimento SL (Spain), Hangzhou Ouqi Food Co., Ltd. (China), JUNE Spirulina (a part of JUNE Group of Companies) (Myanmar), Qingdao Haizhijiao Biotechnology Co., Ltd. (China), Sea & Sun Organic GmbH (subsidiary of Sea & Sun Technology GmbH) (Germany), Far East Bio-Tec. Co., Ltd. (FEBICO) (Taiwan), Givaudan SA (Switzerland), and Necton S.A. (Portugal).
Scope of the Report:
South East Asia Spirulina Market Assessment, by Product Type
- Powder
- Tablets
- Capsules
- Flakes
- Phycocyanin
- Frozen Spirulina
South East Asia Spirulina Market Assessment, by Distribution Channel
- Business Channel
- Consumer Channel
South East Asia Spirulina Market Assessment, by Application
- Nutraceuticals
- Food & Beverages
- Animal Feed
- Cosmetics
- Agriculture
South East Asia Spirulina Market Assessment, by Geography
- Thailand
- Vietnam
- Malaysia
- Indonesia
- Singapore
- Rest of Southeast Asia
Key Questions Answered in the Report:
