The global chlorella market is expected to reach a market value of USD 206.9 million in 2023 and ultimately to USD 444.6 million by registering a CAGR of 7.9% from 2023 to 2033.
The market's growth can be attributed to the increasing use of chlorella in different end-use industries. The demand for chlorella registered a CAGR of 2.8% from 2018 to 2022. in the historical period 2018 to 2022.
| Report Attribute | Details |
|---|---|
| Growth Rate (2018 to 2022) | 2.8% CAGR |
| Projected Growth Rate (2023 to 2033) | 7.9% CAGR |
| Expected Market Value (2023) | USD 206.9 million |
| Anticipated Forecast Value (2033) | USD 444.6 million |
Chlorella contains the highest chlorophyll amount compared to other plants. It consists of various active ingredients such as dietary essential amino acids, fatty acids, beta-carotene, RNA/DNA, and over 20 vitamins and minerals. It is widely used to treat constipation, fibromyalgia, high blood pressure, and high cholesterol.
Chlorella used for human consumption is cultivated outdoors in mineral-rich freshwater ponds under direct sunlight. Biologists closely monitor the cultivation process to ensure optimum nutrient value and product quality.
It's used for , ulcers, Crohn’s disease, and diverticulosis by increasing the number of good bacteria in the gastrointestinal (GI) tract.treating colitis, ulcers, Crohn's disease, and diverticulosis by increasing the number of good bacteria in the gastrointestinal (GI) tract.
North America is considered a highly lucrative market, and its different products are driven primarily by its utilization across the cosmetics, personal care, food, and beverage industry.utilization across cosmetics, personal care, food, and beverage industry.
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The global demand for chlorella is projected to increase at a CAGR of 7.9% during the forecast period between 2023 and 2033, reaching a total of USD 444.6 million in 2033, according to a report from Future Market Insights (FMI). From 2018 to 2022, sales witnessed significant growth, registering a CAGR of 2.8%.
The COVID-19 pandemic affected the sales of chlorella owing to the non-functioning of the major end-user industries such as food & beverage, pharmaceutical, and personal care industries.
On the other hand, the multi-purpose functionality of chlorella is changing the market dynamics.On the other hand, the multi-purpose functionality of chlorella is changing the dynamics of the chlorella market.
Furthermore, with research underway for maximizing the use of chlorella, the use of the same is expected to enter different end-user industries. In the upcoming years, chlorella is expected to be used for nearly all age groups effectively.
Extensive Uptake in the Personal Care Industry to generate Revenue Pools
The increasing use of cosmetics and personal care products influences the growth of the chlorella industry across the globe as chlorella is used as an ingredient for adding pigmentation in cosmetic products and a key source of chlorophyll used in personal care products such as skin care creams, lotions, and hair care products.
In addition, the growing innovation in the personal care industry and continuous research and development has given a wide scope of growth for chlorella in the market.
Health benefits of increasing use of chlorellaHealth benefits increasing use of chlorella
Chlorella helps improve immunity, reduces gastric ulcers, lowers blood sugar levels, lowers cholesterol, and increases hemoglobin concentrations. These factors have helped in driving the market for chlorella across the globe. Also, the growing government support for organic farming in different regions across the world.
This has further led to a rise in chlorella cultivation, driving the market for chlorella globally. Continuously increasing demand for healthy and nutritional food drives the growth of the chlorella industry in the coming years.
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Expensive nature of chlorella restraining market growth
Although the chlorella industry has numerous end-uses, numerous obstacles challenge market growth. The high cost associated with the research and development activities and the availability of alternatives is anticipated to be a significant growth barrier to the chlorella industry in forthcoming years.
The cost and complexities related to the development of the products will hinder the growth of the market in the forecasting period. obstacles that pose a challenge to market growth.
The high cost associated with the research and development activities and the availability of alternatives is anticipated to act as a significant growth barrier to the chlorella market in forthcoming years. The cost and complexities related to the development of the products will hinder the growth of the market in the forecasting period.
North America was the largest market for the chlorella industry, and the trend is expected to continue into the forecast period owing to the high production of chlorella in the region. The growing demand for chlorella for medicinal purposes is expected to increase the chlorella industry. The region is forecast to account for over 27.5% share in 2022.
With the rapid development and an increasing number of skin-related problems in North America, the demand for chlorella products is anticipated to rise in the region. The rapidly growing food and beverage sector and the growing popularity of vegetarian food among the population further drive the growth of the chlorella industry.
Demand for natural and organic skin care products bolstering demand for chlorella
According to Future Market Insights, Europe is expected to provide immense growth opportunities for the chlorella industry due to the increasing demand for chlorella in the cosmetic and personal care industry. Europe's market accounts for a 24.3% share of the global chlorella industry.
The increasing trend of natural, organic, and environment-friendly products drives the chlorella industry in the region. Also, rapidly changing food consumption patterns in favor of functional food, high disposable income, and an increase in various chronic diseases due to the growing aging population boost the demand for chlorella in the region.
Seed modification growing demand for chlorella
The agriculture sector is expected to increase sales of chlorella in the Asia Pacific region. The agricultural sector's strong presence and increasing awareness regarding genetically modified seeds contribute to the growth of chlorella in the region. Japan is the largest consumer of chlorella in the Asia Pacific.
Furthermore, the increasing investments in skincare products, especially by millennials and Generation Z, positively influence the demand for chlorella in the region. Thus, Asia Pacific is expected to possess a 20% market share for chlorella in 2022.
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Organic Chlorella Helping in fighting against DiseasesOrganic Chlorella helping in fighting against Diseases
Organic chlorella is gaining popularity due to multiple reasons. Consumption of organic, chemical-free, and clean chlorella has increased. In addition, organic chlorella helps fight against multiple health ailments such as diabetes, heart problems, cancer, and cognitive diseases.
This has led to manufacturers using organic chlorella to attract consumers. Thus, organic chlorella is expected to register a CAGR of 7.9% for the chlorella industry by 2033.
Algenuity, Seagrass Technology, Biotrino, Zara Biotech, AllMicroalgea, and ProFuture are some start-up companies operating in the chlorella industry.
Some of the key participants present in the global chlorella industry include Sun Chlorella Corp, Vedan Enterprise, FEMICO, International Chlorella, Taiwan Chlorella Manufacturing Company, Yaeyama Chlorella, Gong Bih Enterprise, Fuqing King Dnarmsa Spirulina, Like Chlorella Biotech, Jiangxi Mingjun, Guangzhou Jinqiu Chlorella, Dongtai City Spirulina Bioengineering, Shandong Enkang, Tianjin Norland Biotech, and Ivanqi among others.
The market is highly competitive due to the presence of such a large number of participants. While global players such as Sun Chlorella Corp, Vedan Enterprise, FEMICO, International Chlorella, and Taiwan Chlorella Manufacturing Company account for a considerable market size, several regional-level players are also operating across key growth regions, particularly in the Asia Pacific.operating across key growth regions, particularly in the Asia Pacific.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 7.9% from 2023 to 2033 |
| Expected Market Value (2023) | USD 206.9 million |
| Anticipated Forecast Value (2033) | USD 444.6 million |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
Type, Application, Region |
| Regions Covered |
North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled |
The USA, Canada, Mexico, Brazil, Germany, Italy, UK, Spain, France, China, Japan, South Korea, Malaysia, Singapore, Australia, GCC, South Africa, Israel |
| Key Companies Profiled |
Sun Chlorella Corp; Vedan Enterprise; FEMICO; International Chlorella; Taiwan Chlorella Manufacturing Company; Yaeyama Chlorella; Gong Bih Enterprise; Fuqing King Dnarmsa Spirulina; Like Chlorella Biotech; Jiangxi Mingjun; Guangzhou Jinqiu Chlorella; Dongtai City Spirulina Bioengineering; Shandong Enkang; Tianjin Norland Biotech |
| Customization | Available Upon Request |
By 2033, the market will expand at a 7.9% CAGR.
The 2023 market value is USD 206.9 million.
From 2018 to 2022, the market expanded at a 2.8% CAGR.
By 2033, the market will reach USD 444.6 million.
Sun Chlorella Corp, Vedan Enterprise, FEMICO are some key players.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 5.1. Organic Chlorella 5.2. Inorganic Chlorella 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Food and Beverage Industry 6.2. Pharmaceutical Industry 6.3. Personal Care Industry 6.4. Other Applications 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Sun Corp 17.2. Vedan Enterprise 17.3. FEMICO 17.4. International Chlorella 17.5. Taiwan Manufacturing Company 17.6. Yaeyama Chlorella 17.7. Gong Bih Enterprise 17.8. Fuqing King Dnarmsa Spirulina 17.9. Like Biotech 17.10. Jiangxi Mingjun 17.11. Guangzhou Jinqiu Chlorella 17.12. Dongtai City Spirulina Bio-engineering 17.13. Shandong Enkang 17.14. Tianjin Norland Biotech 18. Assumptions & Acronyms Used 19. Research Methodology
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Chlorella Market
