[February 22, 2018]

Global Spirulina Powder Market - Increasing Influence of Organized Retailing to Promote Growth | Technavio

The latest market research report by Technavio on the global spirulina powder market predicts a CAGR of around 12% during the period 2018-2022.

This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180222006601/en/

Technavio has published a new market research report on the global spirulina powder market from 2018-2022. (Graphic: Business Wire)

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

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

Save more with Technavio. Buy 2 reports and get the third for FREE: View all Technavio's current offers

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.

Looking for more information on this market? Request a free sample report

Technavio's sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

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.

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at [email protected].

View source version on businesswire.com: http://www.businesswire.com/news/home/20180222006601/en/

[ Back To TMCnet.com's Homepage ]