Chlorella Market is segmented 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), and Geography.
The Chlorella Market is projected to reach a market size value of USD 412.3 million by 2028, at a CAGR of 6.3% during the forecast period of 2021 to 2028.
Chlorella is a freshwater alga that is commonly found in Taiwan and Japan that is by nature full of proteins, vitamins and minerals, antioxidants, as well as dietary fiber. The chlorella is branded as a super food and consumers considered it as a fix-all supplement because of its numerous health benefits. The chlorella market’s growth is mainly attributed to factors like, consumers’ growing inclination towards a high-protein diet, health and wellness trends, innovations when it comes to incorporating chlorella into food and beverages products, developing nutraceutical industry, and shifting to vegetarianism. Additionally, key market players have seen a growth opportunity in the emerging potential of chlorella extract in the market.
Impact of COVID-19 on the Chlorella Market
Controlling the widespread of the virus is a great challenge to all countries because many sectors will have to compromise and was affected negatively. Many industries will have to adapt and adopt to the changes that will be imposed upon them by their governments. A massive pull back on the growth of the chlorella market is the disruption of supply chain since manufacturing and distribution of key players or companies are being limited, if not, controlled by governments through imposing lock downs and halting travels across borders. The challenge lies in the disruption in raw materials supply because it is negatively affecting manufacturers since travel, transport of raw materials, and non-essential trade has been put off in many countries. This in turn affected production, causing fewer volume of product sales. Chlorella suppliers have also experienced repercussion because imports and exports in almost all countries have been restricted, if not limited.
Positive Impact of the Pandemic
Aside from the negative effects brought about by COVID-19, there are positive outcomes as well. The food industry was compelled to adopt best-practice models in their operations because consumers demand the importance of hygienic and nutritious foods where the amount of sugar, calories and fats are reduced for the prevention of diseases. The pandemic made the consumers conscious about their health and always looking out on what they eat--as a result, an unprecedented demand for better quality and nutritious food products are very much expected in the chlorella market.
This market is rapidly growing due to the effects of the pandemic. Consumers’ preference on less fatty and non-processed food products and products with immunity-boosting properties are the most sought for. The increase in health consciousness is one of the primary drivers of growth in this market so leading companies in the food industry tends to incorporate chlorella in their manufactured products as part of a new business strategy.
Key Findings in the Chlorella Market
In terms of technology, hetero-trophic segment is anticipated to grow at the highest CAGR accounted for in the market during the forecast period. The drivers of growth in this market are, chlorella’s higher productivity, risk of contamination is lower as well as water consumption, and space usage. Further, its biomass has a great purity. Chlorella can be used to acquire higher cell concentration, and the production of pure pharmaceuticals, nutraceutical and in cosmetics too.
In terms of product type, powder is segment is projected to prevail the chlorella market in 2021. this is mainly attributed to growth factors such as, increasing number of health conscious consumers, chlorella’s property to remove heavy metal and ash content from the body, and its vibrant coloring ability. The chlorella powder is prevalent in tablets, capsules, extracts, noodles, dumplings, beverages, dairy products, confectionery, and even dietary supplements.
In terms of application, the nutraceutical segment is projected to have the overall largest share in market in 2021. This is due to benefits derived from chlorella and its immunity-boosting properties as well as the emergence of consumers’ growing curiosity on healthy foods. With respect to distribution channel, the B2C segment is projected to grow at the fastest CAGR in 2021-2028. This is due to the chance of engaging directly with the consumers to better understand their demands, and offer a an experienced relative to each of their needs.
Regional Market Analysis
Based on region, Europe is anticipated to have the overall largest share in the market in 2021 due to the increasing demand for chlorella in personal care products and cosmetics, consumers’ willingness to purchase organic, natural, less-processed, and environment-friendly products even if it costs more, and the emergence of consumers’ attraction towards naturally healthy food products. Demand for functional food products, higher disposable incomes and lifestyle shifts as well as the aging population boosts the growth of the chlorella market.
Key Players: Share and Competition
These players are known to have a strong product portfolio and has been adopting key strategies to improve the growth of the market. These leading companies in the chlorella market are, Flora Manufacturing & Distributing Ltd. (Canada), Roquette Klötze GmbH & Co. KG (Germany), Phycom (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. (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).
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2021 – 2028)
• Data breakdown for every market segment (2021 – 2028)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Technology Analysis (Revenue, USD Million, 2021 - 2028)
• Open Pond
• Closed Pond
Product Type Analysis (Revenue, USD Million, 2021 - 2028)
Source Analysis (Revenue, USD Million, 2021 - 2028)
• Chlorella Vulgaris
• Chlorella Pyrenoidosa or Sorokiniana
Application Analysis (Revenue, USD Million, 2021 - 2028)
• Food & Beverages
• Animal Feed
Sales/Distribution Channel Analysis (Revenue, USD Million, 2021 - 2028)
Region Analysis (Revenue, USD Million, 2020 – 2028)
• United States
• United Kingdom
• South Korea
• Saudi Arabia
• Rest of World
• United States Chlorella Industry Research Report
• Europe Chlorella Industry Research Report
• Asia Pacific Chlorella Industry Research Report
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