Meticulous Research® – a leading global market research company published a research report titled “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.”
According to this latest publication from Meticulous Research®, the chlorella market is expected to grow at a CAGR of 6.3% from 2021 to 2028 to reach $412.3 million by 2028. The growth of this market is mainly attributed to key factors such as the growing inclination of consumers toward a protein-rich diet, increasing health & wellness trend, development of innovative chlorella food and beverages products, growing nutraceutical industry, and growing vegetarianism. Moreover, the emergence of chlorella extract provides significant opportunities for the growth of the market. However, the risk of contamination, high production cost, and complex production of algae products are expected to hinder the growth of the chlorella market to some extent.
The chlorella market is mainly segmented on the basis of technology, product type, source, application, distribution channel, and geography. The study also evaluates industry competitors and analyzes the market at the country level.
Based on technology, the chlorella market is mainly segmented into autotrophic and heterotrophic. The autotrophic segment is estimated to command the largest share of the global chlorella market in 2021. The dominant position of this segment is mainly attributed to factors such as easy construction & management of open ponds, inexpensive method used to deliver 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 chlorella production. Moreover, the heterotrophic segment is expected to grow with the fastest CAGR during the forecast period. The fast growth of this segment is primarily attributed to major factors such as higher productivity, lower risk of contamination, low water consumption, low space usage, and excellent purity of biomass.
Based on product type, the chlorella market is mainly segmented into powder, tablets, extracts, and capsules. The extracts segment is expected to grow with the fastest CAGR during the forecast period. The growing demand for chlorella from functional food and supplement manufacturers and the presence of high levels of water-based nutrients, such as essential amino acids, vitamin A, B vitamins, iron, calcium, chlorophyll, lutein, and zeaxanthin are the factors driving the growth of this segment. Further, chlorella extracts have a higher solubility and improved taste.
Based on source, the chlorella market is mainly segmented into the chlorella Vulgaris, chlorella pyrenoidosa or sorokiniana, and others. The chlorella vulgaris segment is estimated to command the largest share of the global chlorella market in 2021. 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 it more sustainable. Besides, chlorella vulgaris is pegged as a healthy, natural, and sustainable superfood, which is in-demand during the COVID-19 period due to its immune-boosting properties.
Based on application, the chlorella market is mainly segmented into nutraceuticals, food & beverages, animal feed, cosmetics, and others. The nutraceutical segment is expected to command the fast growth of the overall chlorella market during the forecasted period. The fast growth of this segment is primarily attributed to the growing curiosity among customers on ‘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, extracts of chlorella have possessed diverse antitumor, antioxidant, anti-inflammatory, and antimicrobial activities, which have gained a good reputation from consumers and ultimately drive demand for chlorella in the nutraceutical industry.
Based on sales/distribution channel, the chlorella market is mainly segmented into B2B and B2C. The B2B segment is estimated to command the largest share of the global chlorella market in 2021. The large share of this segment is mainly due to the huge purchase of bulk chlorella by various manufacturers such as nutraceutical, food and beverages, and animal feed, among others, for further product development (finished product).
Geographically, Europe is expected to command the major share of the overall chlorella market in 2021. The leading position of Europe in the chlorella market 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. Additionally, the desire for a healthy life, changing food consumption patterns in favor of functional food, high disposable income, and an increase in various chronic diseases due to the growing aging population boosts the demand for chlorella in the region.
The key players operating in the chlorella market are 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).
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