Chlorella Ingredients Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The global chlorella ingredient market is forecasted to witness a CAGR of 10.25% during the forecast period (2022 - 2027).

The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products.

Various health benefits of consuming chlorella are another major driver for this market. It is a good source of fiber, fats, chlorophyll, protein, carbohydrates, vitamins, and minerals. As a medicine, chlorella is used in the prevention of cancer, minimizing side effects of radiation treatment, improving reaction to the flu vaccine, stimulating the immune system, preventing cold, increasing white blood cell counts, and slowing the aging process.

The high production cost involved in chlorella production is a key challenge affecting the growth of the market. Consumable chlorella requires carbonated water for its growth, which increases its production cost.

Key Market Trends

Rising Adoption Of Veganism

The chlorella ingredients market driver can be attributed to the increasing adoption of algae-based ingredients, such as chlorella among consumers has increased the consumption rich in protein and provides health and wellness attributes of nutritional products. Moreover, the increase in demand of chlorella ingredients for functional food products is estimated to drive the chlorella ingredients market. Furthermore, as a medicine, chlorella ingredients are used in preventing cancer, reducing the side effects of radiation therapy, improving interaction with the flu vaccine, stimulating the immune system, preventing colds, increasing the number of white blood cells, and slowing the aging process.

North America Dominates the Market.

North America dominated the Chlorella Ingredients Market, owing to the rising consumption of healthy food products that increases the preference of chlorella ingredients. Moreover, rising advancement in food and beverage sector and growing adoption of veganism among population further driving the growth of Chlorella Ingredients Market. However, Asia Pacific is projected to be the significant-growing market during the forecast period 2021-2026 owing to rising health consciousness among consumers and changing lifestyle among Asian countries. The chlorella ingredients are used in variety of cuisines in Asian countries that rise the adoption of chlorella ingredients and thus rising the market growth.

Competitive Landscape

Unique cultivation methods and upcoming innovative applications are expected to help the chlorella market globally in the years to come. The competition in this market is expected to intensify further, in the coming years, due to increased industrialization, product extensions, technological innovations, and the high-quality of the products manufactured. The key players in the chlorella market are NP Nutra, Phycom BV, Duplaco, Sun Chrolella Corp, Like Chlorella Biotech ,Vedan Enterprise, Parry Nutraceuticals, and Roquette Klötze GmbH & Co. KG,seagrass tech private limited,Allmicroalgae - Natural Products, among others. As a result of the growing demand for chlorella as an ingredient in the market, new product launches, with varied grades and concentrations, are the approach adopted by leading companies.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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