Spirulina Beverages Market Analysis, Growth Opportunity, New Trend Analysis & Forecast 2020-2027

The global spirulina beverages market size is projected to reach USD 40.11 million by 2027, as per an expansive study by Grand View Research, Inc. Furthermore, the industry is poised to expand at a CAGR of 12.6% over the forecast period. Spirulina is a type of cyanobacteria, which is a family of single-celled microbes often referred to as blue-green algae. Health-conscious consumers are looking to make nutritional food and beverage items an integral part of their daily diet, which is expected to prove beneficial for the demand of promising products such as spirulina. Additionally, the vegan industry has witnessed numerous positive developments in recent years, as many plant-based products have come to the fore, which have been backed by heavy consumer demand. The market is increasingly witnessing proliferation of companies both large and small, with online and offline channels both being considered crucial for revenue generation.
Spirulina in its pure form is considered to be an excellent source of nutrients, which has in turn positively shaped the growth and demand of the spirulina beverage industry. Spirulina is considered to have powerful antioxidant and anti-inflammatory properties, thus helping to prevent or minimize the impact of various disorders. Another benefit is that spirulina can lower triglycerides and “bad” LDL cholesterol, while simultaneously raising “good” HDL cholesterol, which helps in reducing the risk of heart disease. The various health issues that come with the consumption of carbonated beverages have helped turn consumers towards their nutritional and functional counterparts. Manufacturers of spirulina-based beverages have found numerous growth opportunities during the COVID-19 pandemic, as their immunity and health-focused offerings have been in line with consumer demands for nutritious and wellness-oriented products. North America is expected to remain a key region for manufacturers targeting revenue generation, as the region is home to a rapidly-expanding vegan population.

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Spirulina Beverages Market Report Highlights

• Spirulina beverages are considered to be the largest source of protein among any plant-based drink, with the protein content being 50-70%. Additionally, spirulina beverages offer a healthy balance of all nine essential amino acids, thus making them extremely beneficial for consumption
• Spirulina’s positive impact in conditions such as cancer is also being studied. Its effect on oral cancer has been particularly well-researched, as evidenced from a study of 87 people from India with precancerous lesions, called oral submucous fibrosis (OSMF), in the mouth. The study found that daily consumption of spirulina led to 45% of the subjects seeing their lesions disappear. Similar positive studies are expected to hold the industry in good stead in coming years
• Spirulina has been found to be effective in improving symptoms of allergic rhinitis. A study conducted in 127 people with this disorder found that 2 grams per day of spirulina drastically reduced the symptoms of allergic rhinitis. Another area where spirulina is being studied for effectiveness in reducing anemia in adults. As such, spirulina beverages can be expected to serve a wide demographic in the near future
• In terms of distribution, the hypermarket and supermarket channel segment accounted for the largest share of more than 55.0% in 2019 in the spirulina beverages market. This is owing to high buyer visibility of such channels, as well as provision of choice of physical verification of the products before purchase
• North America led the global spirulina beverages market in terms of revenue in 2019, on account of increasing consumer preference for vegan food in the U.S. On the other hand, Europe is anticipated to show promising growth in this market through 2027, with economies such as Germany, Italy, and the UK witnessing a steady growth in their vegan population
• The spirulina beverages industry is at a nascent stage, with very few companies having launched products. Additionally, companies dealing in spirulina powder, tablets, and extracts have entered the market to capture higher industry share with their existing customer-based products

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