Growth of Spirulina Market Driven by Increasing Vegetarian Demand

The Spirulina Market was valued at $0.59 billion in 2023 and is projected to grow to $1.20 billion by 2031. It is estimated to reach $0.64 billion in 2024, with a compound annual growth rate (CAGR) of 9.4% during the forecast period from 2024 to 2031.

Spirulina, known for its rich protein and vitamin content, has emerged as a valuable dietary supplement, particularly for individuals following vegetarian and vegan diets. Its nutritional profile, combined with antioxidant and anti-inflammatory properties, makes it a popular choice for boosting the immune system and overall health.

In recent years, there has been a marked shift toward plant-based diets, with a growing global trend in vegetarianism and veganism. This shift has been driven by heightened awareness of health benefits, environmental concerns, and ethical considerations surrounding animal welfare. Currently, about 8% of the global population identifies as vegetarian, and in 2021, approximately 14% adhered to a vegetarian diet, according to the Vegan Society. Notably, around 31-40% of India’s population is vegetarian, while in Europe, 6% of the population identifies as vegan and 12% as vegetarian.

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In the United States, the adoption of veganism has skyrocketed, with a 600% increase in individuals identifying as vegans over the past three years, as per the Food Revolution Network. In 2014, only 1% of U.S. consumers identified as vegan, but by 2020, this number rose to 9%. The United Kingdom has seen similar growth, with 9% of the population following a vegan diet in 2021. Germany also experienced a 16.5% increase in the vegan population between 2014 and 2020. Meanwhile, in Canada, approximately 1.7 million people were vegetarians in 2020, and around 0.85 million followed a vegan diet, according to Dalhousie University. The Canadian government’s preliminary draft of the 2017 Food Guide also leaned toward plant-based foods, further encouraging the shift.

Spirulina, as a plant-based supplement, aligns perfectly with these dietary shifts. Compared to traditional animal-based protein sources like whey and casein, spirulina offers an environmentally sustainable and health-conscious alternative that is suitable for a wider range of consumers. The U.S. Food and Drug Administration (FDA) recognizes spirulina’s nutrient density, highlighting its significant levels of calcium, niacin, potassium, magnesium, B vitamins, and iron.

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Spirulina is also a powerhouse of protein, containing high levels of complete vegetable protein along with essential vitamins and minerals. In fact, dried spirulina contains 70% protein by weight—nearly three times the protein content of beef. These qualities make spirulina supplements particularly appealing to vegans and vegetarians, who may face challenges in meeting their protein and nutrient needs. For example, individuals following plant-based diets often experience iron deficiencies, which can lead to anemia. Spirulina, rich in iron and other essential nutrients, helps address these nutritional gaps.

In addition to its nutritional benefits, spirulina has the unique ability to store proteins in the body, providing a backup source in case of an unbalanced diet. This helps strengthen the immune and digestive systems while improving the body’s ability to absorb essential nutrients. For vegans and vegetarians, this is crucial in maintaining long-term health and preventing deficiencies.

As the trend toward vegetarianism continues to grow, the demand for spirulina is expected to rise significantly. Consumers are increasingly seeking natural, plant-based protein sources to support their health, and spirulina is poised to meet this demand.

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Spirulina Market Research Summary

According to Meticulous Research®, the spirulina market is projected to reach a value of $1.10 billion by 2030, growing at a compound annual growth rate (CAGR) of 9.4% from 2023 to 2030. In terms of volume, the market is expected to reach 102,381.3 tons by 2030, with a CAGR of 8.0% during the same period.

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