Chlorella Market by Technology, by Product Type by Source by Application, Geography - Global Forecast to 2028

The report “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 2028" provides an in-depth analysis of the chlorella market in five major geographies and emphasizes the current market trends, market size, market share, recent developments, and forecast till 2028. The chlorella market is expected to grow at a CAGR of 6.3% from 2021 to 2028 to reach $412.3 million by 2028.

The growing inclination of consumers toward a protein-rich diet, increasing health & wellness trend, development of chlorella F&B products, growing nutraceutical industry, and growing vegetarianism are some of the major drivers for the growth of this market. Moreover, the emergence of a new product: chlorella extract, provides significant opportunities for the growth of the market. However, the risk of contamination, high production cost, and complex production of algae products is expected to hinder the growth of the chlorella market.

The study offers a comprehensive analysis of the chlorella market with respect to technology, product type, source, application, and geography. The chlorella market is mainly segmented by technology (autotrophic and heterotrophic), product type (powder, tablets, extracts, and capsules), source (chlorella vulgaris, chlorella pyrenoidosa or sorokiniana, and others), application (nutraceuticals, food & beverages, animal feed, cosmetics, and others), and geography. The study also evaluates industry competitors and analyses the market at a country level.

Based on technology, the autotrophic segment is expected to command the dominant share of the overall chlorella market in 2021. The easy construction & management of open ponds, low cost for biomass production, and exposure of the culture to sunlight are the drivers for this market. Besides, chlorella production in open ponds by major chlorella-producing countries, such as Germany, Japan, China, the Czech Republic, and Taiwan is expected to boost its production.

Based on product type, the extracts segment is expected to grow at the highest CAGR during the forecast period. Factors such as the growing demand for chlorella from the functional food and supplement manufacturer and high water-based nutrients such as essential amino acids, vitamin A, B vitamins, iron, calcium, chlorophyll, lutein, and zeaxanthin are driving the growth of this segment.

Based on the source, the chlorella vulgaris segment is expected to command a large share of the overall chlorella market in 2021. This market's large share is mainly attributed to the growing demand for novel and natural flavored plant-based protein-rich ingredients and growing application in the biofuel industry.

Based on application, the nutraceutical segment is expected to command the largest share and fast growth of the overall chlorella market in 2021. The large share of this segment is primarily attributed to the growing interest among customers in healthy or nutrition-rich food and the properties and advantages of chlorella as an ideal health product that integrates metabolism, balances the body, and regulates immune effects.

Geographically, Europe is expected to command the major share of the overall chlorella market in 2021. The leading position of Europe in the chlorella market is primarily attributed to the rising demand for chlorella in lotions, moisturizers, powders, and other personal care items; scientific and technological development in the field of micro-algae research for various health foods and dietary supplements; and growing awareness among consumers for natural food products.

The report includes a competitive landscape based on an extensive assessment of the key strategic developments adopted by the leading market participants in the chlorella market over the last four years (2017-2021). The key players operating in the chlorella market are Flora Manufacturing & Distributing Ltd. (Canada), Roquette Klötze GmbH & Co. KG (Germany), Phycom (The 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. (The 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.

Key questions answered in the report

• Which are the high growth market segments in terms of the technology, product type, source, application, and countries/regions?
• What is the historical market for chlorella across the globe?
• What are the market forecasts and estimates for 2021-2028?
• What are the major drivers, restraints, and opportunities in the chlorella market?
• Who are the major players in the global market, and what share of the market do they hold?
• Who are the major players in various countries, and what share of the market do they hold?
• How is the competitive landscape?
• What recent developments have taken place in the chlorella market?
• What are the different strategies adopted by the major players in this market?
• What are the key geographic trends and the high growth countries?
• Who are the local emerging players in the chlorella market, and how do they compete with the other market players?