Chlorella Market

Chlorella Market Size, Share, Growth (2023-2028)

Chlorella Market is expected to reach USD 0.22 billion in 2023 to USD 0.3 billion in 2028 with growth to record a CAGR of 6.31%.

Chlorella Market Overview:

Chlorella is a microscopic organism that resides and develops in freshwater. Chlorella is a single-celled alga that grows in pure water. It contains a large amount of chlorophyll compared to other plants. Besides, it includes multiple active ingredients, including fatty acids, dietary essential amino acids, RNA/DNA, beta-carotene, and more than 20 vitamins and minerals. Chlorella has many applications in the food, food, pharmaceutical, cosmetic, and biofuel sectors. It is widely applied in the treatment of constipation, high blood pressure, fibromyalgia, and high cholesterol. In addition, it also helps treat colitis, Crohn's disease, ulcers, and diverticulosis, by increasing the number of good bacteria in the stomach. Additionally, chlorella is also used for human consumption and grown outdoors in freshwater ponds in direct sunlight. Biologists monitor this growth process to ensure optimal nutritional value and product quality. Chlorella is a microscopic organism that grows in freshwater. It is a single-celled green alga that contains the highest chlorophyll amount when compared to other plants. It consists of various active ingredients such as fatty acids, dietary essential amino acids, beta-carotene, RNA/DNA, and over 20 vitamins and minerals. Chlorella is widely used to treat fibromyalgia, constipation, high blood pressure, and high cholesterol. It is also helpful in treating colitis, Crohn’s disease, ulcers, and diverticulosis by raising the number of good bacteria in the gastrointestinal tract. Chlorella used for human consumption is cultivated outdoors in mineral-rich freshwater ponds under the presence of direct sunlight. The entire cultivation process is closely monitored by biologists in order to ensure optimum product quality and nutrient value.

Chlorella Market Growth Factors:

A growing market for cosmetic and personal care products have played an important role in fuelling the growth of the chlorella market across the globe. Chlorella works as an ingredient responsible for adding pigmentation in the cosmetic line of products. Moreover, chlorella also is a key source of chlorophyll which is used in personal care products such as lotions, skin care creams, and hair care products. The rising number of health-conscious customers also has propelled the growth of the chlorella market globally. Chlorella helps in reducing gastric ulcers, improving immunity, lowering blood sugar levels, lowering cholesterol, and raise hemoglobin concentrations. These factors have helped in propelling the market for chlorella across the globe. Another factor responsible for the growth of the global chlorella market is the rising government support for organic farming in various regions across the globe. This has further led to a growth in chlorella cultivation and hence propelled the market for chlorella across the globe.

REPORT COVERAGE:

Chlorella Market Drivers and Restraints:

The global Chlorella market is assumed to experience significant growth during the outlook period as it is proven to be effective against various cancers due to its antioxidant, antimicrobial and anti-inflammatory properties.

It is also known to reduce blood pressure and cholesterol levels, improve wound healing, help control respiratory disease, promote eye health, support liver health, and strengthen the immune system. Chlorella can enhance the lifestyle of people with fibromyalgia, hypertension, and ulcerative colitis. Chlorella works as an element responsible for adding pigmentation to cosmetic products. These factors have helped stimulate the global chlorella market worldwide. The high consumption of beverages, especially, functional drinks, is the primary determinant of the growth of the Chlorella market. The increasing demand for natural ingredients has led food manufacturers to explore natural ingredients, which is supposed to intensify the application of chlorella in different food categories in the following years.Also, the increasing adoption of veganism, particularly in the United States and several European countries, is expected to spur market growth during the foreseen period, as chlorella is a viable alternative to animal protein. Therefore, the health benefits associated with chlorella have led to an increase in the adoption of chlorella supplements among the health-conscious population. This has also led to an increase in the cultivation of chlorella and has, therefore, stimulated the chlorella market worldwide.However, the high cost of production limits the growth of the world Chlorella market. Chlorella needs sparkling water and artificial light/shade for optimal growth, which increases the value. Additionally, using chlorella as a food source requires spraying cell walls effectively using expensive equipment. These costs are reflected in the price of the final product, which is presumed to hamper the chlorella market growth during the outlook period. 

Recent Developments in Chlorella Industry:

1. Algenuity's Chlorella Colors platform launched this year at Vitafoods Europe. The range of colors includes yellow, lime and white.

2. Sun Chlorella Corporation manufactures as well as distributes health care products. Sun Chlorella Corporation offers chlorella tablets, sun chlorella drinks, sun chlorella creams, extracts, and some other products. It also operates health management and nutritional supporting businesses.

3. With the change of company in March 2016, TerraVia acquired AlgaVia and AlgaWise, another brand of food ingredients. The AlgaVia brand provides food manufacturers with two whole algae powders that contain long-lasting, non-allergenic protein and lipids. As the name implies, the entire algae cell is used in the form of whole algae powders, ground into a fine powder. 

4. For Growth of the Chlorella in Taiwan, the first Manufacturing Company was established in 1964, the name called Taiwan Chlorella Manufacturing Company (TCMC). TCMC is the oldest and largest Chlorella producer in the world. TCMC is dedicated to creating a better life for humans and improving people's health while continuing to innovate and progress.

Chlorella Market Segmentation:

Based on Application:

• Food and beverage industry

• Pharmaceutical industry

• Personal care industry

• Other applications

Food and beverages hold the largest share in this segment. On the basis of type, the market is divided into organic chlorella and inorganic chlorella. Organic chlorella is expected to have the largest market share in the segment.

Based on Type:

• Organic Chlorella

• Inorganic Chlorella

Chlorella Market Regional Analysis:

• North America - United States, Canada

• Latin America - Brazil, Argentina, Mexico

• Europe - United Kingdom, France, Germany, Spain, Italy

• The Middle East and Africa - Saudi Arabia, United Arab Emirates, Lebanon, Jordan, Cyprus

• Asia Pacific - China, India, Japan, South America, Australia, New Zealand, and Southeast Asia

On the basis of the geographical segment, the chlorella market is segmented into different regions: North America (Canada, The US), Latin America (Mexico, Brazil, Rest Of Latin America ), Western Europe (Germany, Italy, France, U.K, Spain, Netherlands, BENELUX, Nordic countries ), Eastern Europe ( Russia, Rest Of Eastern Europe), Asia Pacific (Japan, China, India and Rest of APAC), and Middle-East & Africa. 

Among all the divisions, Asia Pacific is expected to form a dominant part of the Chlorella market during the forecast period. The region represented 37.89% of the market in 2018. China and Japan are among the main contributors to the growth of the Asia-Pacific market. The regional market is foreseen to record a significant CAGR of 4.7% during the forecast period. The rapid growth of the personal care sector in the emerging economies of Asia Pacific is promoting the growth of the Chlorella market in the area. Due to the trend in natural cosmetics, manufacturers are focusing on launching products made with natural ingredients like chlorella. In the Asia Pacific region, the chlorella application is high in Nutraceuticals products and Pharmaceuticals. These factors are expected to stimulate growth in the global Asia-Pacific Chlorella market during the forecast period. In addition, the North American market has a significant share of the Chlorella market due to the growing demand for organic chlorella.

Chlorella Market Key Companies:

1. Sun Chlorella Corp

2. Vedan Enterprise

3. FEMICO

4. International Chlorella

5. Taiwan Chlorella Manufacturing Company

6. Yaeyama Chlorella

7. Gong Bih Enterprise

8. Fuqing King Dnarmsa Spirulina

9. Like Chlorella Biotech

10. Jiangxi Mingjun

11. Guangzhou Jinqiu Chlorella