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Redding, California - June 7, 2024

Chlorella Market Worth $412.3 million by 2028

Chlorella Market Size, Share, Forecast, & Trends Analysis by Cultivation Method (Autotrophic, Heterotrophic), Product (Powder, Capsule, Tablets), Source (Chlorella Vulgaris), Application (Nutraceutical), Distribution Channel (B2B) - Global Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled ‘Chlorella Market Size, Share, Forecast, & Trends Analysis by Cultivation Method (Autotrophic, Heterotrophic), Product (Powder, Capsule, Tablets), Source (Chlorella Vulgaris), Application (Nutraceutical), Distribution Channel (B2B)- Global Forecast to 2031’.

According to this latest publication from Meticulous Research^®, the chlorella market is projected to reach $639.7 million by 2031, at a CAGR of 6.3% from 2024 to 2031. In terms of volume, this market is projected to reach 43,810 tons by 2031, at a CAGR of 7.4% during the forecast period of 2024–2031. The growth of the chlorella market is driven by the growing inclination of consumers toward a protein-rich diet, increasing health and wellness trends, the development of innovative chlorella food & beverages products, the growing nutraceutical industry, and growing vegetarianism. However, the risk of contamination, high production cost, and complex production of algae products restrain the growth of the chlorella market. The growing demand for chlorella extracts is expected to generate market growth opportunities.

Key Players

The chlorella market is characterized by a moderately competitive scenario due to the presence of many large- and small-sized global, regional, and local players. The key players operating in the chlorella market are Fuqing King Dnarmsa Spirulina Co., Ltd. (China), E.I.D. - Parry (India) Limited (A Subsidiary of M/S. Ambadi Investments Limited) (India), YUNNAN GREEN A BIOLOGICAL PROJECT CO., LTD. (Yunnan Spirin Biotechnology Co. Ltd) (China), JIANGSHAN COMP SPIRULINA CO.,LTD (China), Inner Mongolia Rejuve Biotech Co., Ltd. (China), Bluetec Naturals CO., LTD. (China), Taiwan Chlorella Manufacturing Company (TCMC) (Taiwan), Sun Chlorella Corporation (Japan), Roquette Klötze GmbH & Co. KG (Germany), Gong Bih Enterprise Co., Ltd. (Taiwan), Yaeyama Shokusan Co., Ltd. (Euglena Co Ltd) (Japan), Vedan Biotechnology Corporation (Taiwan), AlgoSource (France), Tianjin Norland Biotech Co., Ltd (China), Phycom BV (Netherlands), Allmicroalgae Natural Products S.A. (Portugal), Aliga Microalgae (Denmark), TAIWAN WILSON ENTERPRISE INC. (Taiwan), DAESANG Corporation (Korea), Seagrass Tech Private Limited, Plankton Australia Pty Limited (Australia), Hangzhou Ouqi Food Co., Ltd. (China), Far East Microalgae Industries, Co., Ltd.(FEMICO) (Taiwan), Qingdao Haizhijiao Biotechnology Co., Ltd (China), Pond Technologies Inc. (Canada), Necton S.A. (Portugal), and Astaxa GmbH (Germany).

The chlorella market is segmented by cultivation method (autotrophic cultivation {open-pond autotrophic cultivation and closed-pond autotrophic cultivation} and heterotrophic cultivation), product (powder, tablets, chlorella extracts, capsules, and other chlorella products), source (chlorella vulgaris, chlorella pyrenoidosa or sorokiniana, and other sources), application (nutraceuticals, fruits & vegetables, animal feed, cosmetics, and other applications), distribution channel (business-to-business and business-to-consumer {offline channel and online channel) and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The study also evaluates industry competitors and analyzes the regional and country-level markets.

Based on cultivation method, the chlorella market is segmented into autotrophic cultivation and heterotrophic cultivation. In 2024, the autotrophic cultivation segment is expected to account for the larger share of 95.4% of the chlorella market. The large market share of this segment is attributed to several factors, including easy construction & management of open ponds, inexpensive methods 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.

Based on product, the chlorella market is segmented into powder, tablets, chlorella extracts, and capsules. In 2024, the powder segment is expected to account for the largest share of 69.9% of the chlorella market. The large market share of this segment is attributed to its strong coloring ability, the growing number of health-conscious customers, and chlorella powder's ability to get rid of heavy metal & ash content like mercury from the body. Furthermore, the large use of chlorella powder in chlorella tablets, chlorella capsules, extracts, instant noodles, dumplings, bakery, beverages, ice cream, and dietary supplements is driving its demand in the market. Also, due to powder's free flow property, it can blend easily with any product and dissolve uniformly, making it the most preferred form of chlorella for consumption.

Based on source, the chlorella market is segmented into the chlorella vulgaris, chlorella pyrenoidosa or sorokiniana, and other sources. In 2024, the chlorella vulgaris segment is expected to account for the largest share of 53.3% of the chlorella market. The large market share of this segment is attributed to the growing demand for novel and naturally flavored plant-based protein-rich ingredients and growing application in the biofuel industry. Furthermore, 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 with immune-boosting properties, further propelling the market growth.

Based on application, the chlorella market is segmented into nutraceuticals, food & beverages, animal feed, cosmetics, and other applications. In 2024, the nutraceuticals segment is expected to account for the largest share of 66.5% of the chlorella market. The large market share of this segment is attributed to the properties and advantages of chlorella as an ideal health product that regulates immune effects and balances the body. Also, growing curiosity among customers about ‘healthy food’ or nutrition-rich food drives chlorella's demand in the nutraceutical industry.

Based on distribution channel, the chlorella market is segmented into business-to-business (B2B) and business-to-consumer (B2C). In 2024, the business-to-business segment is expected to account for the largest share of 68.7% of the chlorella market. The large market share of this segment is attributed to the huge purchase of bulk chlorella by various manufacturers, such as nutraceuticals, food and beverages, and animal feed, among others, for further product development (finished product).

This research report analyzes major geographies and provides a comprehensive analysis of North America (the U.S. and Canada), Europe (Germany, U.K., France, Italy, Spain, Netherlands, Denmark, Sweden, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, Argentina, and Rest of Latin America), and the Middle East & Africa.

In 2024, Europe is expected to account for the largest share of 38.0% of the chlorella market, followed by North America and Asia-Pacific. Europe's chlorella market is estimated to be worth USD 158.6 million in 2024. The large share of this market is attributed to the rising demand for chlorella in cosmetic and personal care items, consumers willing to pay higher prices for more natural, less processed, and environment-friendly products, and growing attraction 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 rising aging population boost the demand for chlorella in the region.

Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5162

Key Questions Answered in the Report:

What is the value of revenue generated by the chlorella market?
At what rate is the global demand for chlorella projected to grow for the next 5-7 years?
What is the historical market size and growth rate for the chlorella market?
What are the major factors impacting the growth of this market at global and regional levels?
What are the major opportunities for existing players and new entrants in the market?
Which cultivation method, product, source, application, and distribution channel segments create major traction for the manufacturers in this market?
What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the chlorella market?
Who are the major players in the chlorella market? What are their specific product offerings in this market?
What recent developments have taken place in the chlorella market? What impact have these strategic developments created on the market?

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Redding, California - June 7, 2024

Chlorella Market Worth $412.3 million by 2028

Chlorella Market Size, Share, Forecast, & Trends Analysis by Cultivation Method (Autotrophic, Heterotrophic), Product (Powder, Capsule, Tablets), Source (Chlorella Vulgaris), Application (Nutraceutical), Distribution Channel (B2B) - Global Forecast to 2031

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