The analysts forecast global spirulina powder market to grow at a CAGR of 12.03 % during the period 2018-2022. The latest trend gaining momentum in the market is Increasing popularity of online retailing.
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The increasing popularity of e-commerce has led to an increase in profit margins and revenues. Ecommerce accounted for nearly 12% of the global retail trade in 2016.
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Online and e-commerce channels support both business-to-consumer (B2C) and business-to-business (B2B) operations. The average amount of money spent per online transaction and the number of online transactions taking place are increasing every day.
The rise in the number of Internet users and willingness of customers to shop online contribute significantly to the success of online retailing.
Major key players in the global spirulina powder market: Cyanotech Corporation (CC), DIC Corporation, E.I.D. – Parry, Naturya, NOW Foods
According to the spirulina powder market report, one of the major drivers for this market is Increasing influence of organized retailing. The increasing number of supermarkets, hypermarkets, and specialty stores in the world has significantly improved organized retailing.
Algae-based dietary supplements and spirulina-based F&B products are primarily sold by large organized retailers. Vendors are highly dependent on large organized retailers.
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Further, the spirulina powder market report states that one of the major factors hindering the growth of this market is Challenges in distribution of spirulina powder. Retail stores such as supermarkets and large chains of discount or convenience stores are the key distribution channels for the manufacturers and vendors of spirulina powder.
Key questions answered in this report:
What will the market size be in 2022 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?