Meticulous Research® has published a comprehensive report indicating that the chlorella market is set to reach $639.7 million by 2031, expanding at a CAGR of 6.3% from 2024. The market volume is expected to grow to 43,810 tons by 2031, with a CAGR of 7.4%. This anticipated growth is fueled by a rising consumer preference for protein-rich diets, increasing health and wellness awareness, and ongoing innovations in chlorella-based products. Furthermore, the growth of the nutraceutical industry and the rise of vegetarian diets contribute to this market expansion. However, the market faces challenges such as contamination risks, high production costs, and complex algae production processes. Nonetheless, the increasing demand for chlorella extracts presents new growth opportunities.
The market is segmented by cultivation method into autotrophic and heterotrophic. In 2024, autotrophic cultivation is expected to dominate with a 95.4% market share, owing to its cost-effectiveness and efficient open pond systems.
Product-wise, the market is divided into powder, tablets, chlorella extracts, and capsules. Chlorella powder is projected to hold a 69.9% market share in 2024, driven by its versatility and effectiveness across various applications.
By source, chlorella vulgaris is expected to capture 53.3% of the market in 2024. This is due to its high productivity, sustainability, and health benefits.
The application segment is forecasted to be led by nutraceuticals, which are expected to hold a 66.5% market share, driven by increased consumer interest in health products.
Distribution channels are categorized into B2B and B2C, with B2B expected to dominate with a 68.7% share, reflecting the significant bulk purchases made by manufacturers.
Regionally, Europe is expected to lead with a 38.0% market share in 2024, driven by high demand for natural and eco-friendly products.
Key Players
The chlorella market is characterized by a moderately competitive scenario due to the presence of many large- and small-sized global, regional, and local players. The key players operating in the chlorella market are Fuqing King Dnarmsa Spirulina Co., Ltd. (China), E.I.D. – Parry (India) Limited (A Subsidiary of M/S. Ambadi Investments Limited) (India), YUNNAN GREEN A BIOLOGICAL PROJECT CO., LTD. (Yunnan Spirin Biotechnology Co. Ltd) (China), JIANGSHAN COMP SPIRULINA CO.,LTD (China), Inner Mongolia Rejuve Biotech Co., Ltd. (China), Bluetec Naturals CO., LTD. (China), Taiwan Chlorella Manufacturing Company (TCMC) (Taiwan), Sun Chlorella Corporation (Japan), Roquette Klötze GmbH & Co. KG (Germany), Gong Bih Enterprise Co., Ltd. (Taiwan), Yaeyama Shokusan Co., Ltd. (Euglena Co Ltd) (Japan), Vedan Biotechnology Corporation (Taiwan), AlgoSource (France), Tianjin Norland Biotech Co., Ltd (China), Phycom BV (Netherlands), Allmicroalgae Natural Products S.A. (Portugal), Aliga Microalgae (Denmark), TAIWAN WILSON ENTERPRISE INC. (Taiwan), DAESANG Corporation (Korea), Seagrass Tech Private Limited, Plankton Australia Pty Limited (Australia), Hangzhou Ouqi Food Co., Ltd. (China), Far East Microalgae Industries, Co., Ltd.(FEMICO) (Taiwan), Qingdao Haizhijiao Biotechnology Co., Ltd (China), Pond Technologies Inc. (Canada), Necton S.A. (Portugal), and Astaxa GmbH (Germany).
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Key Questions Answered in the Report:
- What is the value of revenue generated by the chlorella market?
- At what rate is the global demand for chlorella projected to grow for the next 5-7 years?
- What is the historical market size and growth rate for the chlorella market?
- What are the major factors impacting the growth of this market at global and regional levels?
- What are the major opportunities for existing players and new entrants in the market?
- Which cultivation method, product, source, application, and distribution channel segments create major traction for the manufacturers in this market?
- What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the chlorella market?
- Who are the major players in the chlorella market? What are their specific product offerings in this market?
- What recent developments have taken place in the chlorella market? What impact have these strategic developments created on the market?
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