South America Spirulina Extract Market Size, & Forecast 2031 (2025)

South America Spirulina Extract Market Size And Forecast

South America Spirulina Extract Market Size was valued at USD 271 Million in 2023 and is projected to reach USD 508 Million by 2031, growing at a CAGR of 8.2% from 2024 to 2031.

• Spirulina is a blue-green algae that can thrive in both fresh and saltwater, but is most commonly found in warm, alkaline bodies. It is regarded as a superfood as of its high nutritional content, which includes protein, vitamins, minerals, and antioxidants. Spirulina extract, obtained from this alga, is widely accessible in powder or pill form.
• Spirulina extract has a wide range of applications, including food & drinks, pharmaceuticals, and cosmetics. In the food industry, it is used in smoothies, health drinks, and energy bars, whilst in pharmaceuticals, it is used to promote metabolic health and combat inflammation.
• Spirulina extract shows promise as demand for natural, plant-based supplements and sustainable, nutrient-dense alternatives grows in a variety of industries. As public awareness of spirulina’s benefits grows, so will its use in health and wellness goods, as well as ecologically responsible manufacturing processes.

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South America Spirulina Extract Market Dynamics

The key market dynamics that are shaping the South America Spirulina Extract Market include:

Key Market Drivers:

• Growing Health and Wellness Consciousness: Growing health and wellbeing awareness will propel the South America Spirulina Extract Market. According to the Pan American Health Organization (PAHO), nutritional supplement use in South America increased by 47% from 2018 to 2022. In Brazil, consumer spending on natural supplements, including spirulina products, is expected to reach USD 3.2 billion in 2023, gaining 28% year on year. Rising awareness and desire for natural, nutrient-dense supplements are driving the regional Spirulina Extract Market.
• Expanding Agricultural Production: The South American Spirulina Extract Market is driven by increased agricultural spirulina output. Brazil’s Ministry of Agriculture reported a 156% rise in spirulina cultivation areas from 2019 to 2023, totaling 1,200 hectares. Similarly, Peru’s National Agricultural Research Institute reported a 67% rise in spirulina farms, with a production capacity of 8,500 metric tons per year by 2023.
• Growing Sports Nutrition Sector: The growing sports nutrition sector will drive the South American Spirulina Extract Market. The Brazilian Sports Ministry reported a 34% increase in the sports nutrition market in 2022, with natural supplements such as spirulina accounting for 23% of total sales. the Colombian Olympic Committee reported a 45% increase in the use of spirulina-based supplements among professional athletes between 2020 and 2023.

Key Challenges:

• High Production Costs: Warm temperatures, alkaline water, and adequate light are all required for spirulina growth. These conditions can be difficult and expensive to maintain, especially in areas where adequate natural settings are limited. Furthermore, maintaining quality control, harvesting, and processing spirulina for commercial use incurs significant operational costs, which Could impact the affordability and profitability of spirulina-based products in South America.
• Limited Raw Material Availability: South America’s demand for spirulina extract is growing, but the availability of raw spirulina algae may not always keep up. Spirulina farming requires specialized environmental conditions, and there may be constraints in terms of area, climate, and resources available for large-scale cultivation. This raw material shortfall might disrupt supply chains, cause price volatility, and make meeting rising market needs difficult.
• Price Sensitivity and Economic Factors: Many South American customers are concerned about price sensitivity, especially in countries with volatile economies like Argentina and Venezuela. The high expenses of spirulina production, along with inflation and economic instability, can raise the price of spirulina-based products, making them unaffordable to a substantial proportion of the population.

Key Trends

• Increasing Health Consciousness Among Consumers: As customers become more health-conscious, there is an increased demand for natural supplements such as spirulina, which is strong in protein, vitamins, and antioxidants. The market for spirulina extract is growing in South America as people become more aware of the benefits of plant-based nutrition, weight management, and overall health. To achieve their health goals, consumers are turning to sustainable and nutrient-dense alternatives, increased use of spirulina-based supplements.
• Rising Popularity of Sports Nutrition: The sports nutrition business in South America has expanded significantly, particularly in Brazil, where the market rose by 34% in 2022, with spirulina accounting for 23% of total sales. Spirulina’s natural characteristics, such as increased energy, muscular recovery, and stamina, make it a popular supplement among athletes and fitness aficionados. With the growing interest in fitness and performance, spirulina’s function as a major ingredient in sports nutrition is fast developing.
• Increased Demand for Natural and Organic Products: As concerns about the detrimental effects of synthetic chemicals and additives in food and supplements mount, consumers are increasingly turning to natural and organic alternatives. Spirulina, a naturally sourced superfood, is becoming increasingly popular in South America as a clean and healthy supplement. The trend toward natural wellness products is pushing the use of spirulina extract in both the food and personal care industries.

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South America Spirulina Extract Market Regional Analysis

Here is a more detailed regional analysis of the South America Spirulina Extract Market:

Brazil:

• Brazil is currently the dominant region in the South America Spirulina Extract Market. Brazil has seen a significant movement toward plant-based diets, with 30 million Brazilians (14% of the population) identifying as vegetarian or vegan by 2022, up 75% from 2018. This growing tendency fuels demand for plant-based protein sources such as spirulina. Brazil’s strong agricultural infrastructure supports this growth, with the country’s spirulina production area expected to exceed 1,500 hectares by 2023, making it South America’s largest producer. Brazil’s significant agricultural capability, which produces more than 12,000 metric tons per year, is critical to fulfilling rising demand.
• The expanding sports nutrition sector fuels the spirulina market. In 2022, Brazil’s sports nutrition market was worth BRL 2.5 billion (USD 500 million), with spirulina accounting for 25% of total sales. Professional athletes, 72% of whom use spirulina-based supplements, help to drive this demand. Government support is also essential, with BRL 850 million invested in microalgae research from 2020 to 2023 and a 200% increase in spirulina production projects receiving financing from the National Bank for Economic and Social Development (BNDES) in 2022.

Peru:

• Peru is rapidly growth region in the South America Spirulina Extract Market. Peru ideal geographic and climate circumstances, particularly in areas such as Lake Huacachina, allow for year-round spirulina cultivation, with farms working at 92% efficiency—significantly higher than the regional average of 76%. In 2023, Peru’s spirulina production will reach 12,000 metric tons. The country’s substantial government backing for aquaculture, especially spirulina cultivation, accelerates market expansion. Investments in aquaculture totaled USD 180 million in 2022, up 156% from 2018, while the funding of 45 spirulina-specific initiatives between 2020 and 2023 increased cultivation efficiency by 78%.
• Peru ideal geographic and climate circumstances, notably in areas like Lake Huacachina, allow for year-round spirulina farming, with farms working at 92% efficiency—significantly higher than the regional average of 76%. Peru will produce 12,000 metric tons of spirulina by 2023. The country’s substantial government backing for aquaculture, especially spirulina growing, fuels market expansion. Aquaculture investments were USD 180 million in 2022, up 156% from 2018, with 45 spirulina-specific projects funded between 2020 and 2023, increasing production efficiency by 78%.

South America Spirulina Extract Market: Segmentation Analysis

The South America Spirulina Extract Market is segmented on the basis of Product Type, Application, Distribution Channel, And Geography.

South America Spirulina Extract Market, By Product Type

• Powder
• Tablets
• Capsules
• Liquid

Based on Product Type, the market is segmented into Powder, Tablets, Capsules, and Liquid. Powder is the most popular section as of its numerous applications in smoothies, protein shakes, and other food products. Spirulina powder is popular among health-conscious customers and the food sector due to its ease of usage and cost-effectiveness. tablet Segment is the fastest expanding, driven by rising customer demand for convenient, pre-measured spirulina doses. Tablets are increasing popularity due to their portability and simplicity of use, particularly among busy people and those looking for specific health benefits.

South America Spirulina Extract Market, By Application

• Food & Beverages
• Nutraceuticals
• Pharmaceuticals

Based on Application, the market is segmented into Food & Beverages, Nutraceuticals, and Pharmaceuticals. The Food & Beverages segment currently dominates the South American Spirulina Extract Market, owing to rising consumer demand for natural, plant-based protein sources and functional foods. Spirulina’s excellent nutritional content has made it a popular addition in smoothies, snacks, and health drinks. nutraceuticals Segment is the fastest-growing, driven by rising health consciousness and increased interest in natural supplements. Spirulina’s high antioxidant and anti-inflammatory content make it a popular choice in dietary supplements, contributing to its rapid growth in the nutraceuticals sector throughout South America.

South America Spirulina Extract Market, By Distribution Channel

• Direct Sales
• Supermarkets & Hypermarkets
• Pharmacies & Drug Stores

Based on Distribution Channel, the market is segmented into Direct Sales, Supermarkets & Hypermarkets, Pharmacies & Drug Stores. Direct Sales segment dominates the South America Spirulina Extract Market, owing to rising customer demand for tailored health supplements. Direct sales enable businesses to develop strong client relationships and offer specialized products, which is especially appealing in the burgeoning wellness industry. Pharmacies & Drug Stores segment is the fastest expanding, as consumers increasingly rely on these stores for health supplements. The broad availability of spirulina in pharmacies, combined with increased health awareness, is driving growth in this channel, as customers seek reliable, simple access to high-quality spirulina-based products for wellness and disease prevention.

Key Players

The South America Spirulina Extract Market is highly fragmented with the presence of a large number of players in the market. Some of the major companies includes Cyanotech Corporation, DIC Corporation, Parry Nutraceuticals, NOW Foods, Sensient Technologies Corporation, Algene Biotech, Earthrise Nutritionals, Döhler Group, Sun Chlorella Corporation, and DIC Corporation.

This section provides a company overview, ranking analysis, company regional and industry footprint, and ACE Matrix.

South America Spirulina Extract Market Recent Development

• In February 2024, Peru’s Ministry of Agriculture announced a huge increase in spirulina farming investment, with USD 180 million set aside to promote microalgae production initiatives. This will strengthen Peru’s position as a spirulina production leader in South America, increasing both domestic consumption and export volumes.
• In January 2024, Brazil’s Ministry of Science, Technology, and Innovation announced a new government-backed project to invest BRL 850 million in research and development of microalgae products, including spirulina. This investment is intended to boost the expansion of the Spirulina Extract Market and improve Brazil’s contribution to worldwide supplies.

Report Scope

Research Methodology of Verified Market Research:

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
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1 INTRODUCTION OF SOUTH AMERICA SPIRULINA EXTRACT MARKET
1.1 Overview of the Market
1.2 Scope of Report
1.3 Assumptions

2 EXECUTIVE SUMMARY

3 RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH
3.1 Data Mining
3.2 Validation
3.3 Primary Interviews
3.4 List of Data Sources

4SOUTH AMERICA SPIRULINA EXTRACT MARKET, OUTLOOK
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis

5SOUTH AMERICA SPIRULINA EXTRACT MARKET, BY PRODUCT TYPE
5.1 Overview
5.2Powder
5.3Tablets
5.4Capsules
5.5 Liquid

6SOUTH AMERICA SPIRULINA EXTRACT MARKET, BY APPLICATION
6.1 Overview
6.2Food & Beverages
6.3Nutraceuticals
6.4Pharmaceuticals

7SOUTH AMERICA SPIRULINA EXTRACT MARKET, BYDISTRIBUTION CHANNEL
7.1 Overview
7.2Direct Sales
7.3Supermarkets & Hypermarkets
7.4Pharmacies & Drug Stores

8SOUTH AMERICA SPIRULINA EXTRACT MARKET, BY GEOGRAPHY
8.1 Overview
8.2South America
8.3 Brazil
8.4Peru

9SOUTH AMERICA SPIRULINA EXTRACT MARKET, COMPETITIVE LANDSCAPE
9.1 Overview
9.2 Company Market Ranking
9.3 Key Development Strategies

10 COMPANY PROFILES

10.1Cyanotech Corporation
10.1.1 Overview
10.1.2 Financial Performance
10.1.3 Product Outlook
10.1.4 Key Developments

10.2DIC Corporation
10.2.1 Overview
10.2.2 Financial Performance
10.2.3 Product Outlook
10.2.4 Key Developments

10.3Parry Nutraceuticals
10.3.1 Overview
10.3.2 Financial Performance
10.3.3 Product Outlook
10.3.4 Key Developments

10.4NOW Foods
10.4.1 Overview
10.4.2 Financial Performance
10.4.3 Product Outlook
10.4.4 Key Developments

10.5Sensient Technologies Corporation
10.5.1 Overview
10.5.2 Financial Performance
10.5.3 Product Outlook
10.5.4 Key Developments

10.6Algene Biotech
10.6.1 Overview
10.6.2 Financial Performance
10.6.3 Product Outlook
10.6.4 Key Developments

10.7Earthrise Nutritionals
10.7.1 Overview
10.7.2 Financial Performance
10.7.3 Product Outlook
10.7.4 Key Developments

10.8Döhler Group
10.8.1 Overview
10.8.2 Financial Performance
10.8.3 Product Outlook
10.8.4 Key Developments

10.9Sun Chlorella Corporation
10.9.1 Overview
10.9.2 Financial Performance
10.9.3 Product Outlook
10.9.4 Key Developments

10.10DIC Corporation
10.10.1 Overview
10.10.2 Financial Performance
10.10.3 Product Outlook
10.10.4 Key Developments

11 KEY DEVELOPMENTS
11.1 Product Launches/Developments
11.2 Mergers and Acquisitions
11.3 Business Expansions
11.4 Partnerships and Collaborations

12 Appendix
12.1 Related Research

Report Research Methodology

We appoint data triangulation strategies to explore different areas of the market. This way, we ensure that all our clients get reliable insights associated with the market. Different elements of research methodology appointed by our experts include:

Exploratory data mining

For understanding the entire market landscape, we need to get details about the past and ongoing trends also. To achieve this, we collect data from different members of the market (distributors and suppliers) along with government websites.

Last piece of the ‘market research’ puzzle is done by going through the data collected from questionnaires, journals and surveys. VMR analysts also give emphasis to different industry dynamics such as market drivers, restraints and monetary trends. As a result, the final set of collected data is a combination of different forms of raw statistics. All of this data is carved into usable information by putting it through authentication procedures and by using best in-class cross-validation techniques.

Data Collection Matrix

Econometrics and data visualization model

The collected data includes market dynamics, technology landscape, application development and pricing trends. All of this is fed to the research model which then churns out the relevant data for market study.

Our market research experts offer both short-term (econometric models) and long-term analysis (technology market model) of the market in the same report. This way, the clients can achieve all their goals along with jumping on the emerging opportunities. Technological advancements, new product launches and money flow of the market is compared in different cases to showcase their impacts over the forecasted period.

Analysts use correlation, regression and time series analysis to deliver reliable business insights. Our experienced team of professionals diffuse the technology landscape, regulatory frameworks, economic outlook and business principles to share the details of external factors on the market under investigation.

Different demographics are analyzed individually to give appropriate details about the market. After this, all the region-wise data is joined together to serve the clients with glo-cal perspective. We ensure that all the data is accurate and all the actionable recommendations can be achieved in record time. We work with our clients in every step of the work, from exploring the market to implementing business plans. We largely focus on the following parameters for forecasting about the market under lens:

• Market drivers and restraints, along with their current and expected impact
• Raw material scenario and supply v/s price trends
• Regulatory scenario and expected developments
• Current capacity and expected capacity additions up to 2027

We assign different weights to the above parameters. This way, we are empowered to quantify their impact on the market’s momentum. Further, it helps us in delivering the evidence related to market growth rates.

Primary validation

Different members of the market’s value chain such as suppliers, distributors, vendors and end consumers are also approached to deliver an unbiased market picture. All the interviews are conducted across the globe. There is no language barrier due to our experienced and multi-lingual team of professionals. Interviews have the capability to offer critical insights about the market. Current business scenarios and future market expectations escalate the quality of our five-star rated market research reports. Our highly trained team use the primary research with Key Industry Participants (KIPs) for validating the market forecasts:

• Established market players
• Raw data suppliers
• Network participants such as distributors
• End consumers

The aims of doing primary research are:

• Verifying the collected data in terms of accuracy and reliability.
• To understand the ongoing market trends and to foresee the future market growth patterns.

Industry Analysis Matrix

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