Chlorella is a close substitute of spirulina and is obtained from green edible algae. It is considered a super food based on its high protein content. It is widely used as a protein supplement for human consumption. Chlorella is known to reduce excess body fat and also helps in boosting up the body’s immune system. High nutritional value and increasing popularity of naturally derived food products and health supplements is driving the global demand for chlorella. Celebrity endorsements and product promotions is playing a vital role in increasing the sale of chlorella on a global level.
The need to discover new alternatives to sugar has led to the discovery of different options one of which is chlorella. It is among the healthiest nutritional supplements in the world which is derived from algae which are prompting the market’s expansion. Market intensive reports associated with the food, beverages & nutrition industry among others recently have been made accessible by Market Research Future which issues reports on this industry. The market is expected to grow with a CAGR of 5.4 percent approximately in the forecast period.
The tremendous health benefits of the chlorella have been one of the chief factors driving the market. Increased usage of chlorella in various products such as beverages and eatables, has increased the market share considerably in the past few years. The rising focus of consumers on health and fitness is increasing their demand for chlorella and chlorella based products. Manufacturers are also heavily investing in the market to raise the demand further especially in the forecast period.
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Major Key Players Analysis:
The odds for growing revenue inflow in the business are likely to multiply through the forecast period. Aspects of the market related to pricing power and profit margins are expected to contribute in a major way to the revenue attractiveness of the market. Costs involved in targeting potential customers are expected to be reasonable so as to be conducive to the expansion of the market. The ability to withstand their competitive edge is one of the key factors fuelling their efforts in this period. The room for development in the market seems to be promising through the forecast period. Portfolio development is being significantly endorsed by market competitors to achieve high growth rates. Localization is among of the more preferred trends for growing the market portion of the competitors in the market. The ripple effects of the market’s growth have altered the competitive backdrop of the market. The key trends and players have established a positive tone for development.
Few of the prominent players that are a part of the Chlorella Market globally are Fuqing King Dnarmsa Spirulina Co., Ltd. (China), Tianjin Norland Biotech Co., Ltd. (China), FEMICO (Taiwan), Sun Chlorella Corp (Japan), Kingherbs, Inc. (U.S.), Yaeyama Chlorella (Japan), and Vedan Enterprise Corp. (Taiwan).
May 2018 Chlorella vulgaris microalgae of Allmicroalgae Natural Products’ has got an organic certification by the European Union as the Portugal based firm is looking to respond to the rising demand for fully traceable organic and plant-based ingredients. As only a few of European producers manufacturing organic certified Chlorella biomass, Allmicroalgae Natural Products join algae dealers such as DSM-Martek, Roquette, AlgoSource Technologies and Nutress in meeting the demand for food supplements that are Chlorella-based.
The segmentation of the market is carried out on basis of Origin, Form, Application and Region. The segmentation of the chlorella market has been segmented on the basis of origin, which consists of conventional and organic. The conventional chlorella category controls a major portion due to lesser maintenance cost and ease of production. The application based segmentation of the chlorella market comprises of food & beverages, pharmaceuticals, animal feed, others. Food and beverages based application holds a major share owning to rising consumers health consciousness and high demand for healthy food product. The segmentation of the market on form basis comprises of liquid, powder, tablet/capsules, and others. The powder segment among these segments, controls the market globally based on high shelf life and convenience storage of the product.
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Detailed Regional Analysis:
The chlorella market globally is segmented into North America, Europe, APAC, and Rest of the World (ROW). The Asia Pacific region holds a majority market share trailed by the North American region. The growing consumption of protein supplements in the nations of these regions is motivating the high production volume of chlorella. Due to the altering food consumption pattern, the market for chlorella is likely to generate high levels of revenue during the forecast period. Besides, the mounting population of health conscious customers is expected to support the sale of chlorella through the regions in the duration of the forecast period. The main importers of chlorella comprise of Thailand, China, the U.S., Japan and Australia.
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