USD 275.21 million
Global Chlorella Market Size, Share, Growth Analysis, By Type(Chlorella Pyrenoidosa, Chlorella Vulgaris), By Application(Functional Food, Beverages Industry) - Industry Forecast 2024-2031
Report ID:
SQMIG30G2051 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|
Tables:
67 |
Figures:
75
Global Chlorella Market Insights
Chlorella Market size was valued at USD 275.21 million in 2019 and is poised to grow from USD 292.55 million in 2023 to USD 506.99 million by 2031, growing at a CAGR of 6.3% in the forecast period (2024-2031).
Chlorella is a type of single-celled green algae that belongs to the division chlorophyta. The adoption of algae-based supplements as a result of people's increased health consciousness has fueled the growth of the chlorella market. Furthermore, the growth of the chlorella market ingredients is boosted by the rising demand for natural functional ingredients in a variety of application industries. The chlorella market has higher production costs, which contribute to the expansion of the global market.
The chlorella market has been severely impacted by COVID-19, along with other global markets. The worldwide lockdown caused a number of issues for the chlorella industry. It was impacted because all the transportation was shut down and there wasn't enough labor to produce the goods. After a while, though, things have changed, and the global market is now accelerating its growth in the direction of its objective.
US Chlorella Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Functional Food and Beverages Industry
Fastest Growth
Personal Care Industry
Growth Rate
6.3% CAGR
Global Chlorella Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Chlorella Market Size By Application, 2021-2028 ($ Bn)
Global Chlorella Market Size By Application, 2021-2028 (%)
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Global Chlorella Market Segmental Analysis
The global chlorella market is segmented based on type, application and regions. Based on type the Chlorella Market is further sub segmented into chlorella pyrenoidosa, chlorella vulgaris, chlorella ellipsoidea and others segments. Based on applications the Chlorella Market can be segregated into functional food and beverages industry, personal care industry, nutraceuticals and pharmaceuticals industry and other sub segments. The regional insights of the Chlorella Market are into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa.
Chlorella Market Analysis by Application
The main factor fueling segmental growth is the high consumption of beverages, particularly functional beverages. Chlorella is expected to be used more effectively in many other food categories in the upcoming years as a result of food manufacturers' exploration of functional natural ingredients in response to rising consumer demand for natural ingredients. Chlorella grown for human consumption is grown outdoors in freshwater ponds rich in minerals in full sunlight. Biologists closely monitor the entire cultivation process to guarantee the best nutrient value and product quality. By boosting the quantity of beneficial bacteria in the gastrointestinal (GI) tract, it is used to treat colitis, ulcers, Crohn's disease, and diverticulosis.
Global Chlorella Market By Application , 2021(%), 2023 (%)
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Global Chlorella Market Regional Insights
Due to the high production of chlorella in the region, North America was the largest market for chlorella, and this trend is anticipated to last into the forecast period. The market for chlorella is anticipated to grow as a result of the rising demand for it as a medicine. In 2022, the region is expected to hold a greater than 27.5% share. During the forecast period, North America is anticipated to be the next dominant region with high chlorella adoption rates. The demand for chlorella products is expected to increase in North America due to the country's rapid development and rising number of skin-related issues. The market for chlorella is expanding quickly thanks in part to the expanding food and beverage industry as well as the rising popularity of vegetarian cuisine in general.
Due to the rising demand for chlorella in the cosmetic and personal care industry, Europe is predicted to offer the chlorella market tremendous growth opportunities. The chlorella market in Europe makes up 24.3% of the global chlorella market. The market for chlorella in the area is driven by the rising trend of natural, organic, and environmentally friendly products. Additionally, the region's rapidly evolving food consumption habits in favor of functional foods, high disposable income, and an uptick in chronic diseases brought on by the region's aging population all contribute to the demand for chlorella.
Global Chlorella Market By Geography, 2021 - 2028, 2024-2031
- Largest
- Fastest
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Global Chlorella Market Dynamics
Chlorella Market Driver
- Since chlorella is a key source of chlorophyll used in personal care products like skin care creams, lotions, and hair care products as well as an ingredient for adding pigmentation to cosmetic products, the use of cosmetics and personal care products is a major factor in the growth of the chlorella market globally.
- Chlorella aids in boosting the immune system, decreasing gastric ulcers, lowering blood sugar and cholesterol, and raising hemoglobin levels. These elements have influenced the chlorella market all over the world. In addition, governments around the world are increasingly supporting organic farming. This has also increased chlorella cultivation, which has driven the chlorella market globally. The chlorella market is expected to grow over the course of the forecasting period due to the rising consumer demand for wholesome, nutrient-rich foods.
Chlorella Market Restraint
- The chlorella market has a wide range of end uses, but there are a lot of barriers that could potentially restrain market expansion. In the upcoming years, it is anticipated that the high cost of research and development activities and the availability of alternatives will significantly impede the growth of the chlorella market. The expense and difficulties associated with product development will limit market expansion during the forecasted period.
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Global Chlorella Market Competitive Landscape
Major corporations, such as Sun Chlorella Corp, Vedan Enterprise, FEMICO, International Chlorella, Taiwan Chlorella Manufacturing Company, Yaeyama Chlorella are widely implementing collaborative strategies in the competition, which accounts for their dominant market share. Adopting competitive strategies like mergers and acquisitions, new product development initiatives, and geographic expansion are top priorities for these players.
Chlorella Market Top Players Company Profiles
- Sun Chlorella Corp
- FEMICO
- Far East Bio-Tec Co., Ltd.
- Roquette Frères S.A.
- Taiwan Chlorella Manufacturing Company
- DIC Corporation
- Cellana Inc.
- Kingherbs Limited
- Green Gem Chlorella Co., Ltd.
- Allmicroalgae Natural Products S.A.
- Heliae Development, LLC
- Algomed
- Tianjin Norland Biotech Co., Ltd.
- Piveg, Inc.
- Fuqing King Dnarmsa Spirulina Co., Ltd.
- Dongtai City Spirulina Bio-Engineering Co., Ltd.
- Algae Natural Food & Health Ingredients S.L.
- Pond Technologies Inc.
- E.I.D. - Parry (India) Limited
- Cyanotech Corporation
Chlorella Market Recent Developments
- In March 2022, ProFuture created light microalgae for fish-free plant-based protein. Researchers have created strains of high-protein microalgae that have better tastes.
Global Chlorella Key Market Trends
- Since Chlorella is a suitable substitute for animal-based proteins, rising veganism is anticipated to fuel market growth during the review period, particularly in the US and several countries in Europe. Because of these health advantages, chlorella supplements are becoming more popular among people who are concerned about their health. However, the high cost of production is limiting the expansion of the world market.
Global Chlorella Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the global chlorella market is segmented based on type, application and regions. The main factor fueling segmental growth is the high consumption of beverages, particularly functional beverages. Chlorella is expected to be used more effectively in many other food categories in the upcoming years as a result of food manufacturers' exploration of functional natural ingredients in response to rising consumer demand for natural ingredients. Due to the high production of chlorella in the region, North America was the largest market for chlorella, and this trend is anticipated to last into the forecast period. The market for chlorella is anticipated to grow as a result of the rising demand for it as a medicine.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 275.21 million |
| Market size value in 2031 | USD 506.99 million |
| Growth Rate | 6.3% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Chlorella Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Chlorella Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Chlorella Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Chlorella Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Chlorella Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Chlorella Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Chlorella Market Report Snapshots
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