The report segments the global spirulina powder market by application (food and beverage, pharmaceutical, nutraceutical, and animal feed, and cosmetics and personal care) and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global spirulina powder market, according to Technavio food and beverage researchers:
- Increasing influence of organized retailing: a major market driver
- Increasing popularity of online retailing: emerging market trend
- The Americas dominated the global spirulina powder market with around 40% share in 2017
- In 2017, the food and beverage sector held the largest share in the market, accounting for almost 63% of the market
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Increasing influence of organized retailing: a major market driver
Increasing influence of organized retailing is one of the major factors driving the global spirulina powder market. The growing number of supermarkets, hypermarkets, and specialty stores across the world has substantially improved organized retailing. Algae-based dietary supplements and spirulina-based food and beverage products are usually sold by large organized retailers. Thus, vendors are highly dependent on large organized retailers. Supermarkets are the key distribution channels, which have led to the easy accessibility of algae-based products such as spirulina powder and spirulina-based juices.
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Increasing popularity of online retailing: emerging market trend
The growing popularity of e-commerce has led to an increase in the profit margins and revenues. E-commerce accounted for almost 12% of the global retail trade in 2016. Online and e-commerce channels support both business-to-consumer (B2C) and business-to-business (B2B) operations. The increase in the number of internet users and the inclination of customers toward online shopping has significantly contributed to the success of online retailing. The increasing number of online shoppers around the globe will drive the sales of algae-based products such as spirulina powder, chlorella-based products, and spirulina-based antiseptic creams.
According to a senior analyst at Technavio for research on food, “Customers prefer online shopping because they can make payments using credit or debit cards. They can avoid billing queues and trips to walk-in stores. Online shopping portals feature enhanced security features and comprise user-friendly website designs and interfaces. These portals provide efficient customer service and enhanced product visibility.”
Global market opportunities
In 2017, the global spirulina powder market was dominated by the Americas. This region accounted for a revenue share of approximately 40%. It was followed by APAC and EMEA respectively. Increasing awareness about the health benefits of spirulina products is one of the factors contributing to the increase in sales of spirulina in all these regions. The flourishing supermarkets, hypermarkets, discount stores, convenience stores, and food specialty stores in key regions are expected to have a substantial influence on the global spirulina market during the forecast period.
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