(Food-Beverage-News.Com, August 09, 2022 ) Chlorella is a single-celled freshwater alga native to Taiwan and Japan. It is naturally rich in proteins, vitamins, minerals, and dietary fiber. Its reported benefits include boosting antibody count, promoting weight loss, and fighting cancer & other diseases. The growing inclination toward protein-rich diet, increasing health & wellness trend, launch of chlorella-based F&B products, growing nutraceutical industry, and growing vegetarianism worldwide are some of the major factors driving the growth of the chlorella market. Moreover, the emergence of chlorella extract is expected to provide significant growth opportunities for players operating in this market. However, factors such as the risk of contamination, high production cost, and complex production process of algae products are expected to hinder the growth of the global chlorella market.
The global chlorella market is expected to grow at a CAGR of 5.9% from 2020 to 2027 to reach USD 195.3 million by 2027.
Europe is expected to command the largest share of the overall chlorella market in 2021. This region's large share is primarily attributed to the rising demand for chlorella in cosmetic and personal care items; consumers willing to pay higher prices for more natural, less processed, and environment-friendly products; and growing attraction among consumers for natural food products. Additionally, the desire for a healthy life, 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 boosts the demand for chlorella in the region.
Key Players
The report includes a competitive landscape based on an extensive assessment of the key strategic developments adopted by the leading market participants in the chlorella market over the last four years. The key players operating in the chlorella market are Flora Manufacturing & Distributing Ltd. (Canada), Roquette Klötze GmbH & Co. KG (Germany), Phycom (Netherlands), Tianjin Norland Biotech Co., Ltd. (China), Fuqing King Dnarmsa Spirulina Co. Ltd. (China), Far East Microalgae Industries, Co., Ltd. (FEMICO) (Taiwan), Allmicroalgae - Natural Products, S.A (Portugal), Qingdao Haizhijiao Biotechnology Co., Ltd. (China), STAUBER (U.S.), Alver World SA (Switzerland), AlgoSource (France), Taiwan Chlorella Manufacturing Company (Taiwan), E.I.D. - Parry (India) Limited (India), Dongtai City Spirulina Bio-engineering Co., Ltd. (China), Duplaco B.V. (Netherlands), Sun Chlorella Corporation (Japan), Algorigin (Switzerland), Yunnan Green A Biological Project Co., Ltd (China), Zhejiang Comp Spirulina Co., Ltd. (China), Gong Bih Enterprise Co., Ltd. (China), and Wilson Group (Taiwan).
