Chlorella Market to Reach $639.7 Million by 2031 - Exclusive Report by Meticulous Research®

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Jun 10, 2024, 10:46 ET

REDDING, Calif., June 10, 2024 /PRNewswire/ -- According to a new market research report titled, 'Chlorella Market Size, Share, Forecast, & Trends Analysis by Cultivation Method (Autotrophic, Heterotrophic), Product (Powder, Capsule, Tablets), Source (Chlorella Vulgaris), Application (Nutraceutical), Distribution Channel (B2B)- Global Forecast to 2031,' published by Meticulous Research^®, the chlorella market is projected to reach $639.7 million by 2031, at a CAGR of 6.3% from 2024 to 2031.

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Chlorella is a genus of green algae that have a spherical shape. The cultivation of chlorella involves relatively limited resources. Some of the main applications of the genus Chlorella are in biofuels (biodiesel, biomethane, and biohydrogen), cosmetics (skincare), supplementary foods (polyunsaturated fatty acids), pigments (carotenoids and chlorophyll), and waste-water treatments (reduction of chemical oxygen demand and bioremediation).

Chlorella is a scientifically researched algae with many publications from medical institutions, research institutions, and universities. It is the best-selling health food supplement in Japan, with over 30% of the Japanese population taking it as one of their principal health supplements. Chlorella has also been found to boost the immune system, reduce the intensities of many chronic health problems, and reduce the side effects of medications. Its detoxifying, nourishing, and revitalizing properties enable the body's natural defenses and repair systems to function more efficiently. Respective to these factors, the use of chlorella is increasing in nutraceuticals.

The chlorella market is segmented by cultivation method (autotrophic cultivation {open-pond autotrophic cultivation and closed-pond autotrophic cultivation} and heterotrophic cultivation), product (powder, tablets, chlorella extracts, capsules, and other chlorella products), source (chlorella vulgaris, chlorella pyrenoidosa or sorokiniana, and other sources), application (nutraceuticals, fruits & vegetables, animal feed, cosmetics, and other applications), distribution channel (business-to-business and business-to-consumer {offline channel and online channel) and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The study also evaluates industry competitors and analyzes the regional and country-level markets.

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The report includes an extensive assessment of the key strategic developments by leading market participants in the industry over the past four years (2021–2024). The chlorella market has witnessed several partnerships, agreements, collaborations, mergers, and acquisitions in recent years. 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).

Key Findings in the Global Chlorella Market Study:

Based on cultivation methods, the chlorella market is mainly segmented into autotrophic cultivation and heterotrophic cultivation. In 2024, the autotrophic cultivation segment is expected to account for the larger share of 95.4% of the chlorella market. The large market share of this segment is mainly attributed to factors such as the easy construction & management of open ponds, the inexpensive methods used to deliver large-scale biomass production, and exposure of the culture to sunlight. 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 chlorella production. However, the heterotrophic cultivation segment is projected to witness the highest growth rate during the forecast period of 2024–2031 owing to its higher productivity, lower risk of contamination, low water consumption, low space usage, and excellent purity of the biomass.

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Based on product, the chlorella market is mainly segmented into powder, tablets, chlorella extracts, and capsules. In 2024, the powder segment is expected to account for the largest share of 70% of the chlorella market. However, the chlorella extracts segment is projected to witness the highest growth rate during the forecast period of 2024–2031, due to the growing demand for chlorella from functional food and supplement manufacturers and the presence of high levels of water-based nutrients, such as essential amino acids, vitamin A, B vitamins, iron, calcium, chlorophyll, lutein, and zeaxanthin. In addition, chlorella extracts have a higher solubility and improved taste, further supporting growth of the market.

Based on source, the chlorella market is mainly segmented into the chlorella vulgaris, chlorella pyrenoidosa or sorokiniana, and other sources. In 2024, the chlorella vulgaris segment is expected to account for the largest share of the chlorella market. However, the chlorella pyrenoidosa or sorokiniana segment is projected to register the highest CAGR during the forecast period of 2024–2031, owing its ability to grow quickly, higher concentration of some vitamins and amino acids, like choline, higher protein content, and provides natural detoxification for immune support.

Based on application, the chlorella market is mainly segmented into nutraceuticals, food & beverages, animal feed, cosmetics, and other applications. In 2024, the nutraceuticals segment is expected to account for the largest share of 66.5% of the chlorella market. The nutraceuticals segment is also projected to register the highest CAGR during the forecast period of 2024–2031 owing to the growing curiosity among customers on 'healthy food' 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. Also, extracts of chlorella have possessed diverse antitumor, antioxidant, anti-inflammatory, and antimicrobial activities, which have gained a good reputation from consumers and ultimately drive demand for chlorella in the nutraceutical industry.

Based on distribution channel, the chlorella market is mainly segmented into business-to-business (B2B) and business-to-consumer (B2C). In 2024, the business-to-business segment is expected to account for the largest share of the chlorella market. However, the business-to-consumer segment is projected to register the highest CAGR during the forecast period of 2024–2031. The growth of this segment is mainly attributed to factors such as the opportunity to engage directly with its consumers, get a better understanding of their needs, and deliver a tailored and personalized experience.

Based on geography, the global chlorella market is majorly segmented into five regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Europe is expected to account for the largest share of 38.0% of the chlorella market, followed by North America and Asia-Pacific. The Europe chlorella market is estimated to be worth USD 158.6 million in 2024.

Europe is also slated to register the highest CAGR during the forecast period of 2024–2031, mainly due to the growing vegetarian population, increasing demand for vegan cosmetics products, growing consumption of natural food products, and increasing spending on health and wellness products.

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Scope of the Report:

Global Chlorella Market Assessment—by Cultivation Method

Autotrophic Cultivation
- Open-pond Autotrophic Cultivation
- Closed-pond Autotrophic Cultivation
Heterotrophic Cultivation

Global Chlorella Market Assessment—by Product

Powder
Tablets
Chlorella Extracts
Capsules
Other Chlorella Products

Global Chlorella Market Assessment—by Source

Chlorella Vulgaris
Chlorella Pyrenoidosa or Sorokiniana
Other Sources

Global Chlorella Market Assessment—by Application

Nutraceuticals
Food & Beverages
Animal Feed
Cosmetics
Other Applications

Global Chlorella Market Assessment—by Distribution Channel

Business-to-Business (B2B)
Business-to-Consumer (B2C)
- Offline Channel
- Online Channel

Global Chlorella Market Assessment—by Geography

North America
- U.S.
- Canada
Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Netherlands
- Denmark
- Sweden
- Rest of Europe (RoE)
Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific (RoAPAC)
Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America (RoLATAM)
Middle East and Africa

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