Press release
Chlorella Market Poised for Remarkable Growth, Projected to Reach $412.3 Million by 2028
Meticulous Research®, a globally recognized market research company, has recently unveiled its latest 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."
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In this insightful publication, Meticulous Research® anticipates the chlorella market to exhibit a noteworthy Compound Annual Growth Rate (CAGR) of 6.3% from 2021 to 2028, reaching an impressive value of $412.3 million by 2028. The report provides a comprehensive analysis of market dynamics, including factors fueling market growth such as the increasing consumer preference for a protein-rich diet, a rising trend in health and wellness, innovative chlorella-based food and beverage products, a flourishing nutraceutical industry, and the growing adoption of vegetarianism. However, challenges like the risk of contamination, high production costs, and the complex production of algae products are expected to pose constraints on the chlorella market.
The chlorella market is meticulously segmented based on technology, product type, source, application, distribution channel, and geography. The report also assesses industry competitors and conducts a thorough analysis at the country level.
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
Technology Segmentation
The chlorella market is categorized based on technology into autotrophic and heterotrophic. In 2021, the autotrophic segment is expected to dominate the global chlorella market. This dominance is attributed to factors such as the ease of construction and management of open ponds, cost-effectiveness in delivering large-scale biomass production, and exposure of the culture to sunlight. Additionally, chlorella production in open ponds by major chlorella-producing countries is anticipated to boost overall production. The heterotrophic segment is projected to witness the fastest CAGR during the forecast period, primarily due to factors like higher productivity, lower risk of contamination, low water consumption, low space usage, and excellent biomass purity.
Product Type Segmentation
The chlorella market is segmented by product type into powder, tablets, extracts, and capsules. The extracts segment is poised to experience the fastest CAGR during the forecast period. This growth is driven by the increasing demand for chlorella from functional food and supplement manufacturers, considering the high levels of water-based nutrients present in chlorella, such as essential amino acids, vitamins, iron, calcium, chlorophyll, lutein, and zeaxanthin. Furthermore, chlorella extracts exhibit higher solubility and improved taste.
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Source Segmentation
Segmented by source, the chlorella market includes Chlorella Vulgaris, Chlorella Pyrenoidosa or Sorokiniana, and others. In 2021, Chlorella Vulgaris is expected to command the largest market share. The significant share of this segment is attributed to the growing demand for natural, plant-based protein-rich ingredients and its application in the biofuel industry. Chlorella Vulgaris boasts advantages over other sources, such as high lipid productivity, resistance to seasonal changes, less water and land requirement, and greater photosynthetic efficiency, making it more sustainable.
Application Segmentation
The chlorella market is segmented based on application into nutraceuticals, food & beverages, animal feed, cosmetics, and others. The nutraceutical segment is poised for rapid growth during the forecast period. This growth is primarily driven by increasing consumer interest in healthy and nutrition-rich foods. Chlorella is recognized as an ideal health product that integrates metabolism, balances the body, and regulates immune effects. Chlorella extracts, known for their diverse health benefits, further contribute to the growth of this segment.
Distribution Channel Segmentation
The chlorella market is segmented by sales/distribution channel into B2B and B2C. The B2B segment is estimated to command the largest market share in 2021. This dominance is due to significant bulk purchases by various manufacturers, such as those in the nutraceutical, food and beverages, and animal feed industries, for further product development.
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Geographical Insights
In 2021, Europe is anticipated to hold the major share of the overall chlorella market. This leadership position is primarily attributed to the rising demand for chlorella in personal care items, scientific and technological advancements in micro-algae research, and growing consumer awareness of natural food products. Factors such as the pursuit of a healthy lifestyle, changing food consumption patterns in favor of functional food, high disposable income, and an increase in chronic diseases due to an aging population contribute to the demand for chlorella in the region.
Key Players Steering the Industry
Key players in the chlorella market include 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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Related Research:
1. Europe Chlorella Market by Cultivation Method (Autotrophic), Product (Extracts), Source (Chlorella Vulgaris, Chlorella Pyrenoidosa or Sorokiniana), Application (Nutraceuticals, Food and Beverages, Animal Feed), Distribution Channel (B2C) - Forecast to 2030
https://www.meticulousresearch.com/product/europe-chlorella-market-5490
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