Chlorella Market Size, Share, Overview, Forecast To 2024

Written by MRFRresearch

The global chlorella market share is expected to grow at a higher growth rate supported by high nutritional value obtained from the product. Application of chlorella is also gaining popularity as a potential ingredient in animal feed and is further projected to increase the sale of the product. Technological strides are resulting in improved product quality, which is also adding fuel to the growth of this market.

All these factors will contribute to the estimated CAGR of 5.4% of Chlorella Market Size during the forecast period 2017-2023.

Rising sale of chlorella is driven majorly by its nutritional value and its wide applications in various industries. Chlorella is rich in fiber content and is consumed based on its property to detoxify the body. It also lowers the body’s cholesterol and supports the healthy heart functioning. Rising health consciousness and increasing healthy food consumption trends among the consumers’ is supporting the sale of chlorella on a global level. Based on nutraceutical properties and high protein content, chlorella is widely used in the production of protein supplements. The production and the consumption of chlorella is high in Asia Pacific region and is projected to increase at a growth rate in various countries of North America and Europe over the given forecast period.

Downstream Analysis

Based on origin, conventional chlorella dominates the market based on ease of production. However, high consumer-based demand for chemical-free food ingredients and products will affect the sale of organic chlorella positively. Furthermore, based on the form, powder form dominates the market owing to high shelf life and convenience usage of the product as a food ingredient.

Additionally, application of chlorella in food and beverages will hold a significant share in the global market. Also, high demand for nutritional pet feed is projected to increase the application of chlorella as an animal feed.

Competitive Analysis

The major key players in the chlorella market are

  • Tianjin Norland Biotech Co., Ltd. (China)
  • Fuqing King Dnarmsa Spirulina Co., Ltd. (China)
  • Sun Chlorella Corp (Japan)
  • FEMICO (Taiwan)
  • Yaeyama Chlorella (Japan)
  • Kingherbs, Inc. (U.S.)
  • Vedan Enterprise Corp. (Taiwan)

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Chlorella manufacturers across various regions are following the strategy of product innovations and increased focus on R & D to penetrate the global market and to meet the growing demand for the product. Enhancement in the product quality will further attract the consumers to choose chlorella over the close substitutes, thereby increasing its market share. In Asia Pacific, China dominates chlorella market and exports the product to various other countries, which include the U.S., Germany, the Netherlands, Iran, and others.

Regional Analysis

The global chlorella market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). Asia Pacific holds a major market share followed by North America. High demand for chlorella owing increasing health awareness and healthy food consumption trends from the developed countries of these regions is contributing to the growth of the chlorella market. China, Japan, the U.S., Thailand, and Australia are the major importers of chlorella. Developed trading channels and high demand for healthy food are also driving the growth of the market in these countries.

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