New York, NY, Dec. 07, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Chlorella Market By Source (Chlorella vulgaris, Chlorella pyrenoidosa, Chlorella ellipsoidea, and Other Sources) and By Application (Food Industry, Pharmaceutical Industry, Cosmetic Industry, and Others (Feed Industry and Biofuel)): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2024”. According to the report, the global chlorella market was valued at around USD 49 million in 2017 and is expected to reach approximately USD 68 million by 2024, growing at a CAGR of around 5.0% between 2018 and 2024.
Chlorella is a single cell alga found in fresh water. It is spherical in shape and measures between 3 and 8 microns in diameter. It has a high photosynthesis efficacy along with a broad range of distribution. Moreover, it is rich in proteins, chlorophyll, vitamins, dietary fiber, minerals, which include carotenoids (canthaxanthin, astaxanthin, flavoxanthin, neoxanthin, loraxanthin, and violaxanthin), enzymes (pepsin), and nucleic acid. Hence, it is considered a superfood or complete food, owing to its role in detoxification.
Browse through 37 Tables & 18 Figures spread over 110 Pages and in-depth TOC on “Global Chlorella Market Size & Share Research Analysis and Forecast, 2017 – 2024”.
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Furthermore, Chlorella Growth Factor (CGF) has fascinating regenerative effects and stimulates peristalsis in the bowels. This makes it one of the main diet ingredients followed in numerous weight-loss programs and sold as a dietary supplement globally. Therefore, due to its high nutritive properties, it is likely that the global demand for chlorella will increase in the future, which would eventually help in the expansion of the global market of chlorella over the estimated timeframe.
The global chlorella market is primarily driven by growing industries, such as pharmaceutical, food and beverages, and cosmetic and personal care globally, due to the high buyers’ demand for health supplements and organic foods. Alteration in food habits and lifestyle is positively influencing people to adopt chlorella as it hugely benefits the human body. Additionally, increasing disposable income is another factor fueling this market’s growth. Henceforth, it is projected that the global market of chlorella will attain an increased market value over the forecast time period.
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However, chlorella has some drawbacks, such as allergic reactions for those with autoimmune diseases or people allergic to iodine. Product contamination with toxins might cause liver damage and damage to the nervous system if it takes extended timeframe. Besides, it also has some negative interaction with certain drugs. In addition, it can make people more sensitive to sunlight and cause cramping, bloating, and diarrhea. According to some researchers, it is not particularly harmful but still is likely to have some side effects.
By source, the chlorella market is fragmented as chlorella vulgaris, chlorella pyrenoidosa, chlorella ellipsoidea, and other sources. Chlorella Vulgaris is likely to attain a major share in the global chlorella market over the forecast time period, due to its comprehensive application in food, health, and bioenergy industries.
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By application, the chlorella market is segmented into the food industry, pharmaceutical industry, cosmetic industry, and other application including feed and biofuel industry. The food industry is anticipated to hold a significant market share over the estimated timeframe. Chlorella is extensively used in food supplements and consumed to stop cancer from spreading in the body, lower blood cholesterol, increase immunity, and maintain a good balance of bacteria in the gastrointestinal tract (GIT).
By geography, the global chlorella market is mainly segmented into North America, Asia Pacific, Europe, the Middle East and Africa, and Latin America. Asia Pacific is expected to contribute a major share toward the global chlorella market over the forecast time period. This region is the largest producer and consumer of chlorella. Japan, Korea, China, and Taiwan are among the largest markets for chlorella in this region, whereas Japan is the leading chlorella consumer in the world. Additionally, growing awareness regarding genetically modified seeds and increasing chlorella applications in crop production are anticipated to further fuel this region’s chlorella market over the forecast time period.
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The European chlorella market is the third largest market in the world, due to high investments made in cosmetic product lines by the majority of the leading market players, which, in turn, is expected to augment the penetration of the chlorella market in the European region.
The North American chlorella market is estimated to account for a significant share globally over the forecast time period, due to the growing awareness of health benefits derived from chlorella consumption, which subsequently increases the use of chlorella in the food industry, pharmaceutical industry, personal care, and cosmetic care products. Thereby, it is projected to attain a substantial share in the chlorella market globally within the forecast time period.
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Latin American and the Middle Eastern and African chlorella markets are projected to account for comparatively less market share and are expected to expand at a reasonably low rate of growth over the forecast time period. The speedy population growth and rapid expansion of personal care and food and beverages are likely to spur the growth of this market in these regions.
The report includes detailed profiles of the leading global players in the chlorella market, such as FEMICO, Vedan, Febico, Taiwan Chlorella, Wilson, Sun Chlorella, King Dnarmsa, Lvanqi, Gong Bih, Yaeyama, WuliLvqi, and Tianjin.
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This report segments the global chlorella market as follows:
Global Chlorella Market: Source Segment Analysis
- Chlorella vulgaris
- Chlorella pyrenoidosa
- Chlorella ellipsoidea
- Other sources
Global Chlorella Market: Application Segment Analysis
- Food Industry
- Pharmaceutical Industry
- Cosmetic Industry
- Others (Feed Industry and Biofuel)
Global Chlorella Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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