Global Chlorella Ingredients Market - 2023-2030

Global Chlorella Ingredients Market - 2023-2030

Global Chlorella Ingredients Market reached US$ 141.87 million in 2022 and is expected to reach US$ 247.42 million by 2030, growing with a CAGR of 7.2% during the forecast period 2023-2030.

The rising trend of vegan, non-GMO and kosher diet patterns gives a better opportunity for nutrient products like chlorella ingredients to get exposed to various food and non-food applications. The natural and sustainable properties of chlorella ingredients support its use in food, feed and personal care products.

According to the Global New Product Database, in 2022, 22.2% of the new skincare products that were launched in U.S. are composed of chlorella or spirulina. Further, the continuous R&D activities, advancements in the food and beverage industry and wide use of functional ingredients improve the product value fuel the market growth.

The rising population and increased demand for organic and sustainable ingredients in the application of various product productions expand the market size of North America to 1/3rd of global market. Rapid urbanization, increasing consumer disposable incomes and the growing popularity of algal-based supplements among all age groups fuel the market growth.

Dynamics

Increased Awareness About the Benefits of Chlorella Ingredients

The chlorella ingredients are trending among health-conscious people due to their health advantages. Rich vitamins, minerals and other essential nutrients in the chlorella ingredients increase their nutritional properties, making them a better choice for people ready to adopt various food types to improve their health conditions. It has antioxidant properties and plays a key role in improving gastrointestinal health.

Chlorella has various applications in the medical field due to its ability to deal with some health conditions. It is used as a medicinal ingredient for preventing cancer. It clears out toxins from the body, improves the immune system and develops white blood cell count. Chlorella reacts more to the flu vaccine and helps with radiation treatment. Chlorella ingredients are popular for their use in eliminating heavy metals and harmful compounds from the body.

Chlorella is used in manufacturing snacks such as cookies and other food and beverage products. They are used in yogurt, ice cream and other snack production. Further, globally people are looking for safe and eco-friendly personal care products. Increased consumer focus on the ingredients in their skincare products and cosmetics and the need for natural skin care ingredients drive the market for chlorella ingredients in this field.

Rising Demand for Vegan Protein

Veganism is a global trend among health-conscious people. The greater shift in consumer preferences from animal-based products to alternative products with nutritional properties positively drives market growth. People are adopting plant-derived proteins and other nutrients to meet their nutritional requirements leaving behind animal-based products, mostly due to health and environmental concerns caused by animal products.

According to NIH, chlorella contains Vit D and Vit B12, which are not seen in plant-derived sources. Chlorella is composed of about 55-60% protein. The high protein content of chlorella ingredients drives its use as a substitute for animal-based protein. 10% vitamins and minerals and 5% fibre make chlorella a more nutritious vegan ingredient in food and beverage products.

High Cost

The expensive nature of chlorella ingredients may limit its use in some of the applications. Chlorella needs to undergo a few mechanisms in order to free its nutrients from its cell wall. The breakdown of its cell wall to release its nutrient content is an expensive process. The use of various techniques, such as thermal hydrolysis, adds to production costs. The use of enzymes and other essential resources increases manufacturing expenses.

Expensive machinery and delicate processing of chlorella ingredients are needed for their use in applications such as food and pharmaceutical sectors. High manufacturing costs of chlorella result in the high cost of finished goods, retraining the market growth. Further, a lack of consumer awareness about the benefits of chlorella ingredients hinders market growth.

Segment Analysis

The global chlorella ingredients market is segmented based on source, form, nature, consumer age group, distribution channel, application, end-user and region.

Increased Use in Various Industries

The global chlorella ingredients market is segmented based on their end-user into the industrial and retail sectors. The industrial sector of chlorella ingredients held the largest segment due to its increased application in various industries. The food and beverage, health and medical industries widely use chlorella ingredients in their product productions.

The chlorella ingredients are successfully incorporated into various food products such as bread, pasta and cookies. Chlorella ingredient is used in food and beverage sectors to enhance colour and flavour. They also help in inducing freshness in the product. Chlorella's phenolic compounds are used in the medical and health industries. In feed and pet food industries, chlorella ingredients are used as its high protein and chlorophyll content strengthens animal health.

Geographical Penetration

Demand for Healthy Food Products in North America

North America holds the largest share of the global chlorella ingredients market, due to increased health consciousness among people of this region. The growing health concerns drive consumers to take up healthy and nutritious products to improve their health and well-being. Chlorella ingredients induce the growing popularity of food products.

The emerging advancements in the food industries and new product launches infused with chlorella ingredients boost this region’s chlorella ingredients market growth. According to the World Animal Foundation, around 6 % of the U.S. population is declared vegan. The rising trend of veganism fuels the demand for plant and algal-based food ingredients, fueling the market.

Increased demand for natural skincare products and the high use of chlorella ingredients due to its soothing and hydrating properties make it a popular choice. This region's high demand for conventional products with nutritional benefits drives market growth. Increasing health consciousness among people, raising disposable incomes and improving purchasing power of people boost this region’s market growth.

Competitive Landscape

The major global players in the market include Parry Nutraceuticals, Seagrass Tech Private Limited, Sun Chlorella Corporation London, Nutriphys, Taiwan Chlorella Manufacturing Company, Yaeyama Chlorella, Gong Bih Enterprise, Fuqing King Dnarmsa Spirulina Co. Ltd., Algenuity and Tianjin Norland Biotech.

COVID-19 Impact Analysis

The outbreak of the COVID-19 pandemic had a mixed impact on the global chlorella ingredients market. The lack of resources, such as raw materials and labor, decreased production at the industrial level. The lockdowns and strict government regulations about social distancing also had a negative impact on the production and distribution of the products.

Supply chain and distribution channel disturbances critically affected the reach of raw materials to manufacturing units and the final product to consumers. The interruption of the whole demand-supply chain created economic crises for some manufacturers. Internationally, restrictions impacted the import and export procedures.

The pandemic made people realise the importance of nutritious food products for a healthy life. Consumers changed their food habits and increased their intake of special foods with nutritious ingredients such as chlorella. The increased consumption of food products with chlorella ingredients to improve their health positively affected the market. The wide use of online platforms for food and grocery shopping boosted product sales.

Russia- Ukraine War Impact

The Russia-Ukraine war negatively impacted every possible sector, especially food. The scarcity of raw materials and reduced workforce halted product production at the industrial level. The interrupted processes at the industrial level badly impact the manufacturers’s demand-supply chain. Unfavourable conditions halted the distribution channels.

The trade functions were badly affected due to war. Disturbances in the import and export trade transactions resulted in economic disturbances globally. Issues of food security developed, disturbing manufacturers and consumers. The political and economic uncertainty created by the war had a negative impact on the chlorella ingredients market.

By Source
• Marine Water
• Fresh Water

By Form
• Liquid
• Powder
• Others

By Nature
• Organic
• Conventional

By Consumer Age Group
• Children
• Adult
• Elderly

By Distribution Channel
• Supermarkets/Hypermarkets
• Health Stores
• Convenience Stores
• Online Stores
• Others

By Application
• Food and Beverages
• Health and Medical
• Animal Feed
• Pet Food
• Cosmetics and Personal Care
• Fertilizers
• Others

By End-User
• Industrial Sector
• Retail Sector

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Russia
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Key Developments
• In November 2022, Allma, a Portuguese microalgae supplier, introduced new crispy chlorella snacks, including carrot, lemon and rosemary.
• In November 2022, Singapore-based Sophie’s BioNutrients announced their collaboration with the Danish Technological Institute to introduce their new plant-based frozen ice cream from chlorella protein concentrate. This product is growing in popularity due to its dairy-free nature.
• In September 2022, Europe’s largest chlorella algae facilities in Holland were purchased by a Danish-based food technology company, Aliga Microalgae. This facility is equipped with modern production units and helps commercialise chlorella products.

Why Purchase the Report?
• To visualize the global chlorella ingredients market segmentation based on source, form, nature, consumer age group, distribution channel, application, end-user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of chlorella ingredients market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global chlorella ingredients market report would provide approximately 96 tables, 101 figures and 220 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies