Global Chlorella Market

Chlorella Market Size, Share, Growth Analysis, By Type(Chlorella Pyrenoidosa, Chlorella Vulgaris, Chlorella Ellipsoidea, Others), By Application(Functional Food, Beverages Industry, Personal Care Industry, Nutraceuticals), By Region - Industry Forecast 2024-2031

Report ID: SQMIG30G2051 | Region: Global | Published Date: July, 2001
Pages: 165 | Tables: 67 | Figures: 75

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.

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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).

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. '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'

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.

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.

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.

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Global Chlorella Market

Report ID: SQMIG30G2051

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