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Chlorella Market: Meticulous Research® Reveals Why This Market is Growing at a CAGR of 6.3% to reach $412.3 Million by 2028

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Chlorella Market: Meticulous Research® Reveals Why This Market is Growing at a CAGR of 6.3% to reach $412.3 Million by 2028

August 19
20:46 2021
Chlorella Market: Meticulous Research® Reveals Why This Market is Growing at a CAGR of 6.3% to reach $412.3 Million by 2028
Chlorella Market is expected to reach $412.3 million by 2028, at a CAGR of 6.3% during the forecast period of 2021 to 2028.
Chlorella Market by Technology (Open Pond), by Product Type (Extract, Capsules) by Source (Chlorella Vulgaris, Chlorella Pyrenoidosa or Sorokiniana) by Application (Nutraceutical, Food and Beverages, Animal Feed), Geography – Global Forecast to 2028

Chlorella is a single-celled freshwater alga native to Taiwan and Japan. It is naturally rich in proteins, vitamins, minerals, and dietary fiber. Its reported benefits include boosting antibody count, promoting weight loss, and fighting cancer and other diseases. Chlorella contains a range of nutrients, including proteins, omega-3 fatty acids, vitamins, and minerals, including antioxidants. Chlorella has a tough, rigid cell wall that makes it hard to digest in its natural form. Processing makes its nutrients digestible. Some people have proposed using chlorella as a protein source and other nutrients to feed a growing global population. Others have suggested it as an alternative and renewable fuel source for agricultural equipment.

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According to the International Food Information Council, 21% of all Americans said they have an improved opinion about the healthfulness of plant proteins, and 69% are trying to consume more, a figure that coincides with the introduction of plant-based product introductions. While plant-based product development and introductions roll out globally, North Americans consumed more plant-based proteins than any other region in 2017, and this trend is expected to continue. Asian societies and ancient cultures, including the Aztecs, recognized that plant-based foods derived from algae were a rich source of protein and other important nutrients.

One of the most noteworthy nutritional characteristics of chlorella is its high content of protein i.e., 60%, which includes most of the essential amino acids. Thus, there has been a noticeable shift among consumers toward plant-based proteins during the last several years, including algae protein. This can be attributed to greater awareness of the benefits of a plant-based diet for health-oriented consumers and the support of more sustainable and ethical practices, which further drives the growth of the chlorella market.

According to the latest publication on the Chlorella market by Meticulous Research®, the chlorella market is expected to grow at a CAGR of 5.9% from 2020 to 2027 to reach $195.3 million by 2027.

The growth of this market is backed by key factors such as the growing inclination of consumers toward a protein-rich diet, increasing health and wellness trend, development of innovative chlorella food and beverages products, growing nutraceutical industry, and growing vegetarianism. Moreover, the emergence of a new product—chlorella extract provides a significant opportunity for the market’s growth. However, the risk of contamination, high production cost, and complex production of algae products is expected to hinder the growth of the chlorella market to some extent.

Scope of the report

Chlorella Market, by Technology

  • Autotrophic
    • Open Pond
    • Closed Pond
  • Heterotrophic

Chlorella Market, by Product Type

  • Powder
  • Tablets
  • Extract
  • Capsules

Chlorella Market, by Source

  • Chlorella Vulgaris
  • Chlorella Pyrenoidosa or Sorokiniana
  • Others

Chlorella Market, by Application

  • Nutraceuticals
  • Food & Beverages
  • Animal Feed
  • Cosmetics
  • Others

Chlorella Market, by Sales/Distribution Channel

  • B2B
  • B2C
    • Offline
      • Distributors
      • Retailers
      • Direct-To-Consumer
    • Online

Chlorella Market, by Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific (APAC)
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Rest of The Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • Middle East and Africa

To gain more insights into the market with a detailed table of content and figures, click here : https://www.meticulousresearch.com/product/chlorella-market-5162

To provide efficient analysis, Meticulous Research® has segmented this market based on technology, product type, source, application, and geography. The chlorella market is mainly segmented by technology (autotrophic and heterotrophic), product type (powder, tablets, extracts, and capsules), source (chlorella vulgaris, chlorella pyrenoidosa or sorokiniana, and others), application (nutraceuticals, food & beverages, animal feed, cosmetics, and others), and geography (North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa).

Geographically, Europe is expected to command the major share of the overall chlorella market in 2020. The leading position of Europe is primarily attributed to the rising demand for chlorella in lotions, moisturizers, powders, and other personal care items; scientific and technological development in the field of micro-algae research for various health foods and dietary supplements; and growing awareness among consumers for natural food products.

In terms of technology, the autotrophic segment is expected to command the dominant share of the overall chlorella market in 2020. The dominant position of this segment is mainly attributed to factors such as easy construction and management of open ponds, low cost for the production of large scale biomass production, and exposure of the culture to sunlight. Besides, chlorella production in open ponds by major chlorella-producing countries, such as Germany, Japan, China, the Czech Republic, and Taiwan is expected to boost the production of chlorella by autotrophic technology.

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In terms of product type, the powder segment is expected to command the largest share of the overall chlorella market in 2020. The large share of this segment is mainly attributed to the large use of chlorella powder in chlorella tablets, chlorella capsules, extracts, instant noodles, dumplings, bakery, beverages, ice cream, and dietary supplements. Further, strong coloring ability, a growing number of health-conscious customers, and chlorella powder’s ability to get rid of heavy metal and ash content like mercury from the body are some of the major factors that drive its demand in the market.

In terms of source, the chlorella vulgaris source is expected to command a large share of the overall chlorella market in 2020. The large share of this market is mainly attributed to the growing demand for novel and natural flavored plant-based protein-rich ingredients and growing application in the biofuel industry. Further, the various advantages over other sources, such as having high lipid productivity, devoid of seasonal changes, less water & land requirement, and greater photosynthetic efficiency, make chlorella vulgaris more sustainable.

In terms of application, the nutraceutical segment is expected to command the largest share and fast growth of the overall chlorella market in 2020. The large share of this segment is primarily attributed to the growing interest among customers in healthy food or nutrition-rich food and the properties and advantages of chlorella as an ideal health product that integrates metabolism, balances the body, and regulates immune effects. Also, chlorella extracts possess diverse antitumor, antioxidant, anti-inflammatory, and antimicrobial activities.

Amidst this crisis, Meticulous Research® is continuously assessing the impact of COVID-19 pandemic on various sub-markets and enables global organizations to strategize for the post-COVID-19 world and sustain their growth. Let us know if you would like to assess the impact of COVID-19 on any industry here-https://www.meticulousresearch.com/custom-research

Key Players

The report provides competitive intelligence in terms of financials, growth strategies, product portfolios, and geographical presence on some of the key players operating in this market, including Flora Manufacturing & Distributing Ltd. (Canada), Roquette Klötze GmbH & Co. KG (Germany), Phycom (The Netherlands), Tianjin Norland Biotech Co., Ltd. (China), Fuqing King Dnarmsa Spirulina Co. Ltd. (China), Far East Microalgae Industries, Co., Ltd.(FEMICO) (Taiwan), Allmicroalgae – Natural Products, S.A (Portugal), Qingdao Haizhijiao Biotechnology Co., Ltd. (China), STAUBER (U.S.), Alver World SA (Switzerland), AlgoSource (France), Taiwan Chlorella Manufacturing Company (Taiwan), E.I.D. – Parry (India) Limited (India), Dongtai City Spirulina Bio-engineering Co., Ltd. (China), Duplaco B.V. (The Netherlands), Sun Chlorella Corporation (Japan), Algorigin (Switzerland), Yunnan Green A Biological Project Co., Ltd (China), Zhejiang Comp Spirulina Co., Ltd. (China), Gong Bih Enterprise Co., Ltd. (China), and Wilson Group (Taiwan).

About Meticulous Research®

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.

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