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South East Asia Spirulina Market by Product Type (Powder, Tablets, Capsules, Flakes, Phycocyanin), Distribution Channel (Business Channel, Consumer Channel), Application (Nutraceuticals, Food & Beverages, Cosmetics, Agriculture) - Forecast to 2030
Report ID: MRFB - 104993 Pages: 200 Jul-2024 Formats*: PDF Category: Food and Beverages Delivery: 24 to 72 Hours Download Free Sample ReportThe 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.
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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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
South East Asia Spirulina Market Assessment, by Distribution Channel
South East Asia Spirulina Market Assessment, by Application
South East Asia Spirulina Market Assessment, by Geography
Key Questions Answered in the Report:
The South East Asia Spirulina market is projected to reach $21.9 million by 2030, at a CAGR of 7.2% from 2024 to 2030.
The powder segment is expected to account for the largest share of the South East Asia spirulina market.
The business channel segment is slated to register the highest CAGR during the forecast period and provide significant opportunities for players operating in this market.
The major 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).
Thailand is slated to register the highest CAGR during the forecast period. The fast growth of this region is mainly attributed to the rapidly growing population and urbanization, growing focus toward the inclusion of healthy foods, and increasing awareness about the health benefits of nutraceutical products.
1. Market Definition & Scope
1.1. Market Definition
1.2. Market Ecosystem
1.3. Currency
1.4. Key Stakeholders
2. Research Methodology
2.1. Research Process
2.2. Data Collection & Validation
2.2.1. Secondary Research
2.2.2. Primary Research/Interviews With Key Opinion Leaders of The Industry
2.3. Market Sizing And Forecast
2.3.1. Market Size Estimation Approach
2.3.2. Growth Forecast Approach
2.4. Assumptions for the Study
2.5. Limitations of The Study
3. Executive Summary
3.1. Overview
3.2. Segmental Analysis
3.2.1. South East Asia Spirulina Market Analysis: by Product Type
3.2.2. South East Asia Spirulina Market Analysis: by Application
3.2.3. South East Asia Spirulina Market Analysis: by Distribution Channel
3.3. Regional Analysis
3.4. Key Players
4. Industry Outlook
4.1. Overview
4.2. Spirulina Dosages
4.2.1. Spirulina: Recommended Daily Dosage
4.2.2. Common Spirulina Dosages
4.3. Value Chain Analysis
4.3.1. Overview
4.3.2. Inputs/Suppliers
4.3.3. Cultivation and Processing
4.3.3.1. Key Spirulina Producers, by Size
4.3.3.1.1. Small Farmers (2–20 Tons/Year)
4.3.3.1.2. Large Farmers (20–200 Tons/Year)
4.3.3.1.3. Very Large Farmers (More Than 200 Tons/Year)
4.3.4. Packaging, Storage, and Logistics
4.3.4.1. Handling and Packaging Companies
4.3.5. Distribution Channel (B2B & B2C)
4.3.6. Spirulina-Based Product Formulators and Consumers
4.3.6.1. List of Some of the Key Buyers
4.4. Pricing analysis
4.4.1. Spirulina Powder
4.4.2. Spirulina Tablets
4.4.3. Spirulina Capsules
4.4.4. Spirulina Flakes
4.4.5. Frozen Spirulina
4.4.6. Phycocyanin
4.5. Porter’s Five Forces Analysis
4.5.1. Bargaining Power of Suppliers
4.5.2. Bargaining Power of Buyers
4.5.3. Threat of Substitutes
4.5.4. Threat of New Entrants
4.5.5. Degree of Competition
5. Market Insights
5.1. Overview
5.2. Drivers
5.2.1. Increasing Health & Wellness Trends and The Growing Dietary Supplements Industry
5.2.2. Rising Demand for Natural Food Colors
5.2.3. Positive Environmental Impact of Spirulina Cultivation
5.2.4. Growing Preference for Spirulina-sourced Products
5.2.5. Increasing Use of Spirulina in Aquaculture
5.3. Restraints
5.3.1. Low Awareness Regarding The Benefits of Spirulina
5.3.2. Complexities in Algae Production
5.4. Opportunities
5.4.1. Growing Demand for Phycocyanin
5.4.2. Rising Demand for Spirulina Among Biorefineries
5.5. Standards and Regulations
5.5.1. Spirulina: Recommended Daily Intake (RDA)
5.5.2. South East Asia
6. South East Asia Spirulina Market Assessment—by Product Type
6.1. Overview
6.2. Powder
6.3. Tablets
6.4. Capsules
6.5. Flakes
6.6. Phycocyanin
6.7. Frozen Spirulina
7. South East Asia Spirulina Market Assessment—by Distribution Channel
7.1. Overview
7.2. Business Channel
7.3. Consumer Channel
8. South East Asia Spirulina Market Assessment—by Application
8.1. Overview
8.2. Nutraceuticals
8.3. Food & Beverages
8.4. Animal Feed
8.5. Cosmetics
8.6. Agriculture
9. South East Asia Spirulina Market Assessment—by Country
9.1. Overview
9.2. Thailand
9.3. Vietnam
9.4. Malaysia
9.5. Indonesia
9.6. Singapore
9.7. Rest of South East Asia
10. Competition Analysis
10.1. Overview
10.2. Key Growth Strategies
10.3. Competitive Dashboard
10.3.1. Industry Leaders
10.3.2. Market Differentiators
10.3.3. Vanguards
10.3.4. Emerging Companies
10.4. Vendor Market Positioning
11. Company Profiles
11.1. Aurospirul
11.2. Far East Microalgae Ind Co., LTD (FEMICO)
11.3. Fuqing King Dnarmsa Spirulina Co., Ltd.
11.4. DIC Corporation
11.5. Cyanotech Corporation
11.6. C.B.N. Bio-engineering Co., Ltd
11.7. Yunnan Green A Biological Project Co., Ltd. (a Subsidiary of Yunnan Spirin Biotechnology Co. Ltd)
11.8. Jiangshan Comp Spirulina Co., LTD
11.9. Inner Mongolia Rejuve Biotech Co., Ltd.
11.10. Bluetec Naturals Co., Ltd.
11.11. Taiwan Chlorella Manufacturing Company (TCMC)
11.12. Vedan Biotechnology Corporation
11.13. AlgoSource
11.14. Tianjin Norland Biotech Co., Ltd
11.15. Allmicroalgae Natural Products, SA
11.16. Algalimento SL
11.17. Hangzhou Ouqi Food Co., Ltd.
11.18. JUNE Spirulina (a Part of JUNE Group of Companies)
11.19. Qingdao Haizhijiao Biotechnology Co., Ltd.
11.20. Sea & Sun Organic GmbH (a subsidiary of Sea & Sun Technology GmbH)
11.21. Far East Bio-Tec. Co., Ltd. (FEBICO)
11.22. Givaudan SA
11.23. Necton S.A.
12. Appendix
12.1. Available Customization
12.2. Related Reports
List of Tables
Table 1 Spirulina: Recommended Daily Dosage, by Category
Table 2 Indicative List of Spirulina Supplement Providers and their Product Formulations
Table 3 List of Small Spirulina Producers (2–20 Tons/Year)
Table 4 List of Large Spirulina Producers (20–200 Tons/Year)
Table 5 List of Very Large Spirulina Producers (More Than 200 Tons/Year)
Table 6 Average Selling Prices of Spirulina Powder, by Country, 2021–2030 (USD/Ton)
Table 7 Average Selling Prices of Spirulina Tablets, by Country, 2021–2030 (USD/Ton)
Table 8 Average Selling Prices of Spirulina Capsules, by Country, 2021–2030 (USD/Ton)
Table 9 Average Selling Prices of Spirulina Flakes, by Country, 2021–2030 (USD/Ton)
Table 10 Average Selling Prices of Frozen Spirulina, by Country, 2021–2030 (USD/Ton)
Table 11 Average Selling Prices of Phycocyanin, by Country, 2021–2030 (USD/Ton)
Table 12 A Comparison of Spirulina Cultivation Approaches
Table 13 Characteristics of Four Promising Photobioreactors
Table 14 Production Costs and Specific Energy Consumption for Spirulina Cultivation in Open Ponds and PBRS for Different Productivities
Table 15 South East Asia Spirulina Market, by Product Type, 2021–2030 (USD Thousand)
Table 16 South East Asia Spirulina Market, by Product Type, 2021–2030 (Tons)
Table 17 South East Asia Spirulina Powder Market, by Country/Region, 2021–2030 (USD Thousand)
Table 18 South East Asia Spirulina Powder Market, by Country/Region, 2021–2030 (Tons)
Table 19 South East Asia Spirulina Tablets Market, by Country/Region, 2021–2030 (USD Thousand)
Table 20 South East Asia Spirulina Tablets Market, by Country/Region, 2021–2030 (Tons)
Table 21 South East Asia Spirulina Capsules Market, by Country/Region, 2021–2030 (USD Thousand)
Table 22 South East Asia Spirulina Capsules Market, by Country/Region, 2021–2030 (Tons)
Table 23 South East Asia Spirulina Flakes Market, by Country/Region, 2021–2030 (USD Thousand)
Table 24 South East Asia Spirulina Flakes Market, by Country/Region, 2021–2030 (Tons)
Table 25 South East Asia Phycocyanin Market, by Country/Region, 2021–2030 (USD Thousand)
Table 26 South East Asia Phycocyanin Market, by Country/Region, 2021–2030 (Tons)
Table 27 South East Asia Frozen Spirulina Market, by Country/Region, 2021–2030 (USD Thousand)
Table 28 South East Asia Frozen Spirulina Market, by Country/Region, 2021–2030 (Tons)
Table 29 South East Asia Spirulina Market, by Distribution Channel, 2021–2030 (USD Thousand)
Table 30 South East Asia Spirulina Market for the Business Channel, by Country, 2021–2030 (USD Thousand)
Table 31 South East Asia Spirulina Market for the Consumer Channel, by Country, 2021–2030 (USD Thousand)
Table 32 South East Asia Spirulina Market, by Application, 2021–2030 (USD Thousand)
Table 33 Nutritional Profile of Spirulina Powder From Various Companies
Table 34 South East Asia Spirulina Market for Nutraceuticals, by Country/Region, 2021–2030 (USD Thousand)
Table 35 Comparison of Protein Content of Spirulina With Other Foods
Table 36 South East Asia Spirulina Market for Food & Beverages, by Country/Region, 2021–2030 (USD Thousand)
Table 37 South East Asia Spirulina Market for Animal Feed, by Country/Region, 2021–2030 (USD Thousand)
Table 38 South East Asia Spirulina Market for Cosmetics, by Country/Region, 2019–2028 (USD Thousand)
Table 39 South East Asia Spirulina Market for Agriculture, by Country/Region, 2021–2030 (USD Thousand)
Table 40 South East Asia Spirulina Market, by Region, 2021–2030 (USD Thousand)
Table 41 South East Asia Spirulina Market, by Country, 2021–2030 (Tons)
Table 42 Some of The Key Buyers of Spirulina In South East Asia
Table 43 South East Asia: Spirulina Market, by Country, 2021–2030 (USD Thousand)
Table 44 South East Asia: Spirulina Market, by Country, 2021–2030 (Tons)
Table 45 Thailand: Spirulina Market, by Product Type, 2021–2030 (USD Thousand)
Table 46 Thailand: Spirulina Market, by Product Type, 2021–2030 (Tons)
Table 47 Thailand: Spirulina Market, by Distribution Channel, 2021–2030 (USD Thousand)
Table 48 Thailand: Spirulina Market, by Application, 2021–2030 (USD Thousand)
Table 49 Vietnam: Spirulina Market, by Product Type, 2021–2030 (USD Thousand)
Table 50 Vietnam: Spirulina Market, by Product Type, 2021–2030 (Tons)
Table 51 Vietnam: Spirulina Market, by Distribution Channel, 2021–2030 (USD Thousand)
Table 52 Vietnam: Spirulina Market, by Application, 2021–2030 (USD Thousand)
Table 53 Malaysia: Spirulina Market, by Product Type, 2021–2030 (USD Thousand)
Table 54 Malaysia: Spirulina Market, by Product Type, 2021–2030 (Tons)
Table 55 Malaysia: Spirulina Market, by Distribution Channel, 2021–2030 (USD Thousand)
Table 56 Malaysia: Spirulina Market, by Application, 2021–2030 (USD Thousand)
Table 57 Indonesia: Spirulina Market, by Product Type, 2021–2030 (USD Thousand)
Table 58 Indonesia: Spirulina Market, by Product Type, 2021–2030 (Tons)
Table 59 Indonesia: Spirulina Market, by Distribution Channel, 2021–2030 (USD Thousand)
Table 60 Indonesia: Spirulina Market, by Application, 2021–2030 (USD Thousand)
Table 61 Singapore: Spirulina Market, by Product Type, 2021–2030 (USD Thousand)
Table 62 Singapore: Spirulina Market, by Product Type, 2021–2030 (Tons)
Table 63 Singapore: Spirulina Market, by Distribution Channel, 2021–2030 (USD Thousand)
Table 64 Singapore: Spirulina Market, by Application, 2021–2030 (USD Thousand)
Table 65 Rest of South East Asia: Spirulina Market, by Product Type, 2021–2030 (USD Thousand)
Table 66 Rest of South East Asia: Spirulina Market, by Product Type, 2021–2030 (Tons)
Table 67 Rest of South East Asia: Spirulina Market, by Distribution Channel, 2021–2030 (USD Thousand)
Table 68 Rest of South East Asia: Spirulina Market, by Application, 2021–2030 (USD Thousand)
Table 69 Recent Developments, by Company (2020–2024)
List of Figures
Figure 1 Market Ecosystem
Figure 2 Key Stakeholders
Figure 3 Research Process
Figure 4 Key Secondary Sources Referenced for this Study
Figure 5 Primary Research Techniques
Figure 6 Key Executives Interviewed
Figure 7 Breakdown of Primary Interviews (Supply-Side & Demand-Side)
Figure 8 Market Sizing and Growth Forecast
Figure 9 In 2024, the Powder Segment to Account for the Largest Share
Figure 10 The Business Channel Segment to Register the Highest CAGR During 2024–2030
Figure 11 In 2024, the Nutraceuticals Segment to Dominate the Market
Figure 12 Thailand to be the Fastest-growing Regional Market
Figure 13 South East Asia Spirulina Market Value Chain
Figure 14 South East Asia Spirulina Market: Porter’s Five Forces Analysis
Figure 15 Factors Affecting Market Growth
Figure 16 South East Asia Spirulina Market, by Product Type, 2024 Vs. 2030 (USD Thousand)
Figure 17 South East Asia Spirulina Market, by Product Type, 2024 Vs. 2030 (Tons)
Figure 18 South East Asia Spirulina Market, by Distribution Channel, 2024 Vs. 2030 (USD Thousand)
Figure 19 Spirulina: Business Channel
Figure 20 Spirulina: Consumer Channel
Figure 21 South East Asia Spirulina Market, by Application, 2024–2030 (USD Thousand)
Figure 22 South East Asia Spirulina Market, by Country/Region, 2024 Vs. 2030 (USD Thousand)
Figure 23 South East Asia Spirulina Market, by Country/Region, 2024 Vs. 2030 (Tons)
Figure 24 South East Asia: Spirulina Market Snapshot, 2024
Figure 25 Key Growth Strategies Adopted by Leading Players (2020–2024)
Figure 26 Competitive Dashboard: South East Asia Spirulina Market
Figure 27 South East Asia Spirulina Market Competitive Benchmarking, by Application
Figure 28 DIC Corporation: Financial Overview (2024)
Figure 29 Cyanotech Corporation: Financial Overview (2024)
Figure 30 Givaudan SA: Financial Overview (2024)
Published Date: Oct-2023
Published Date: Jun-2024
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