Chlorella Market Worth $195.3 Million by 2027- Exclusive Report Covering Pre and Post COVID-19 Market Analysis and Forecasts by Meticulous Research® & EABA

Chlorella Market by Technology (Autotrophic {Open Pond}, Heterotrophic), by Product Type (Powder, Extract, Capsules) by Source (Chlorella Vulgaris) by Application (Nutraceutical, Food and Beverages, Animal Feed), Geography– Global Forecast To 2027

/EIN News/ -- London, Feb. 01, 2021 (GLOBE NEWSWIRE) -- According to a new market research report titled, “Chlorella Market by Technology (Autotrophic {Open Pond}, Heterotrophic), by Product Type (Powder, Extract, Capsules) by Source (Chlorella Vulgaris) by Application (Nutraceutical, Food, and Beverages, Animal Feed), Geography– Global Forecast to 2027”, the chlorella market is expected to grow at a CAGR of 5.9% from 2020 to 2027 to reach $195.3 million by 2027.

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This report is executed in collaboration with the European Algae Biomass Association (EABA). Combining Meticulous Research®’ market intelligence services with EABA’s broad expertise in the development of research, technology and industrial capacities in the field of algae, the two organizations have leveraged their research capabilities to come up with the most reliable and accurate market assessments in this field.

The consumer preference has shifted towards consuming natural, free-from-additives, and organic food. Well-being is becoming nothing short of a global movement, as consumers seek to ensure healthy lives as long as possible—particularly as average life-spans continue to rise. Further, rapid changes in diets and lifestyles have occurred with industrialization, urbanization, economic development, and globalization.

This has a significant impact on the populations' health and nutritional status, particularly in developing countries. Also, “all-natural” and “clean label” trends within the food and beverage markets increase the demand for natural ingredients, such as plant-based proteins from food industries to produce natural and clean label products. As the global trend for healthy and convenient food products continues, chlorella can be used in products with natural health claims, such as GMO-free, organic, and no additives. Since chlorella is high in protein and other essential nutrients, such as antioxidants, chlorophyll, vitamins, minerals, and fiber, changing food preferences and increasing health consciousness among consumers will positively impact the growth of the chlorella market.

The chlorella market study presents historical market data in terms of value (2018 and 2019), estimated current data (2020), and forecasts for 2027. The market is segmented based on technology, product type, source, application, and geography. The study also evaluates industry competitors and analyses the market at a country level.

Impact of COVID-19 on the Chlorella Market

The chlorella market is experiencing a positive impact mainly due to its key role in the immune system. Chlorella is a healthy, natural, and sustainable superfood, which is experiencing huge demand during the COVID-19 period. During the pandemic, consumers are demanding more food or ingredients to strengthen their immune and digestive systems. For this reason, microalgae/algae have been one of the superfoods trends in Europe. The microalgae chlorella is rich in nutrients and bio compounds.

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However, food & beverage companies worldwide continue to feel the impact of COVID-19. Social distancing, self-isolation, and city-wide lockdowns have forced many establishments to halt their operations. In addition, various government bodies have passed various rules and regulations to purchase essential goods—for instance, Singapore's clampdown on products that claim to have COVID-19 health claims. In 2020, the South Korean Ministry of Food and Drug Safety re-evaluated 12 functional raw material safety and functionality. Similarly, the Taiwan Food and Drug Administration also introduced new labeling rules for special medical foods.

Further, according to trade organizations in the nutritional products industry, there is a significant impact on many global supply chain points for functional foods and dietary supplements. This will result in a slowdown in chlorella's sales and consumption by its end users, impacting the chlorella market. Thus, the negative impact on the global economy, supply chains, and trade is indirectly expected to hamper the growth of the chlorella market.

Key Findings in the Chlorella Market Study:

Based on technology, the chlorella market is mainly segmented into autotrophic and heterotrophic. The heterotrophic segment is expected to grow at the highest CAGR during the forecast period. The fast growth of this segment is primarily due to its use to obtain higher cell concentration and products that are more suitable to produce pure pharmaceuticals, nutraceuticals, and cosmetics. Further, higher productivity, lower risk of contamination, low water consumption, low space usage, and excellent purity of the biomass are some of the major factors driving the demand for heterotrophic technology in the market. However, the construction, maintenance, and operation costs of closed systems are considerably higher, which is one of the major factors restricting the growth of this segment.

Based on product type, the chlorella market is mainly segmented into powder, tablets, extracts, and capsules. The powder segment commanded the largest share of the overall chlorella market in 2020. The large share of this segment is mainly attributed to the use of chlorella powder in the chlorella tablets, chlorella capsules, extracts, instant noodles, dumplings, bakery, beverages, ice cream, and dietary supplements, etc. Further, strong coloring ability, a growing number of health-conscious customers, and chlorella powder's ability to get rid of heavy metal and ash content like mercury from the body are some of the major factors that are driving its demand in the market.

Based on source, the chlorella market is mainly segmented into the chlorella vulgaris, chlorella pyrenoidosa or sorokiniana, and others. The chlorella pyrenoidosa or sorokiniana segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment is mainly due to its potential to provide natural detoxification for immune support.

Based on the application, the chlorella market is mainly segmented into nutraceuticals, food & beverages, animal feed, cosmetics, and others. The nutraceutical segment is expected to command the largest share and fast growth of the overall chlorella market in 2020. The large share of this segment is primarily attributed to the properties and advantages of chlorella as an ideal health product that regulates immune effects and balances the body. Also, growing curiosity among customers on nutrition-rich food is expected to drive the demand for chlorella in the nutraceutical industry.

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Geographically, Europe is expected to grow with the fastest CAGR during the forecast period. The rising demand for chlorella in cosmetic and personal care items; consumer inclination to pay higher prices for more natural, less processed, and environment-friendly products; and growing attraction among consumers for natural food products are the key factors driving this demand in Europe. 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.

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) among others.

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Scope of the report:

Chlorella Market, by Technology

• Autotrophic
  • Open Pond
  • Closed Pond
• Heterotrophic

Chlorella Market, by Product Type

• Powder
• Tablets
• Extract
• Capsules

Chlorella Market, by Source

• Chlorella Vulgaris
• Chlorella Pyrenoidosa or Sorokiniana
• Others

Chlorella Market, by Application

• Nutraceuticals
• Food & Beverages
• Animal Feed
• Cosmetics
• Others

Chlorella Market, by Geography

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific (APAC)
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of The Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East and Africa

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Content Source: https://www.meticulousresearch.com/pressrelease/374/chlorella-market-2027

Mr. Khushal Bombe
                    Meticulous Research®
                    Email- sales@meticulousresearch.com