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Global Spirulina Beverages Market Size, Trends & Analysis - Forecasts To 2026 By Distribution Channel (Hypermarket & Supermarket, Online Retail, Others), By Region (North America, Europe, Asia Pacific and Rest of the World); Vendor Landscape, End User Landscape and Company Market Share Analysis & Competitor Analysis
Spirulina Beverages Market: Insights
The global spirulina beverages market is estimated to witness a significant CAGR during the forecast period (2020-2026). Spirulina beverages are loaded with nutrients, and are therefore an outstanding protein source. Spirulina beverages are also recognized as the greatest protein source among all plant-based drinks. Spirulina has a high natural pigment content that imparts blue color and is combined with other colors to create new, customized colors like lavender, violet, and green. The growth of the market is anticipated to increase due to an increase in the demand for vegetarian food product options along with rising veganism demand for a healthier lifestyle amongst consumers. Moreover, the growing demand for immunity boosting food items is one of the significant factors to drive the spirulina beverages market during the forecast period. However, stringent government regulations are likely to hamper the market growth during the forecast period.
Spirulina Beverages Market: By Distribution Channel
Based on the distribution channel, the global spirulina beverages market is segmented hypermarket & supermarket, and online retail, among others. The hypermarket & supermarket segment is expected to hold the largest market share during the forecast period. Increasing nutritional and health concerns and growing preference for natural alternatives to traditional pharmaceuticals are some of the factors driving the market. In addition, consumers are increasingly preferring healthy beverages over carbonated drinks, is one of the significant factors expected to drive the hypermarket & supermarket segment. Furthermore, the online retail segment is expected to grow at a high CAGR during the forecast period. Increasing worldwide use of smartphones has opened up new opportunities for the global e-commerce network. Moreover, e-commerce companies like Walmart.Com, Amazon Prime Pantry, Alibaba, and Godrej Nature's Basket, among others are gradually growing as consumers' preferences are changing.
Spirulina Beverages Market: By Region
Based on region, the global spirulina beverages market is segmented into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa. North America is expected to hold the largest market share in terms of revenue during the forecast period. The growing consumption of plant-based protein sources instead of meat protein in the region is expected to propel the demand for spirulina beverages during the forecast period. Consumers have shifted to food supplements as an alternative diet. Furthermore, Europe is expected to grow at a high CAGR during the forecast period. The growing preference of veganism among consumers in the region is expected to propel the market growth.
Spirulina Beverages Market: Share & Competitor Analysis
Some of the key players operating in the spirulina beverages market are Algama Foods, Prolgae Spirulina Supplies Pvt. Ltd., Lisi (Xian) Bio-Tech Inc., Walmart, Amazon, Earthrise Nutritional, LLC, DIC Corporation, Algene Biotech, Cyanotech Corporation, and Australian Spirulina among others.
Please note: This is not an exhaustive list of companies profiled in the report.
Check the Press Release on Global Spirulina Beverages Market Report
Spirulina Beverages Market: By Distribution Channel
Spirulina Beverages Market: By Region
The global Spirulina Beverages Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Spirulina Beverages Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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