Dublin, Feb. 03, 2021 (GLOBE NEWSWIRE) -- The "Chlorella Ingredients Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The chlorella ingredient market is forecasted to witness a CAGR of 10.25% during the forecast period (2020 - 2025).
The growing demand for vegan protein consumption is one of the major drivers supporting the growth of the global chlorella ingredients market.
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.
Moreover, it is a nutrient-dense superfood that contains 60% protein, 18 amino acids (including all the essential amino acids), and various vitamins and minerals. One of its unique properties is a phytonutrient called CGF. 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
Growing Demand for Vegan Protein
The expanding global vegan population is one of the primary drivers for the growth of the chlorella ingredients market. With the rising awareness about the various health benefits of vegan diets, the number of people adopting vegan lifestyles is increasing globally. Algae-based ingredients, like chlorella, are rich in protein and may offer health and wellness attributes to food products. For example, they may boost plant protein levels in cheese crackers or smoothies, or they may improve the nutritional profile of an ice cream product. Microalgae like chlorella have emerged as a promising sustainable alternative protein source.
Increasing Penetration of Chlorella in the Developed Economies
The chlorella ingredients are used in the cuisines of many Asian countries, making them hub for the market around the wrold. Furthermore, with increasing importance of vegetable protein, the chlorella was spotlighted and commercialized. Therefore, market in Europe and North America are expected to boom, during the forecast 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 industr. Thereby, it is projected to attain a substantial share in the chlorella market globally within the forecast time period particularly in the North American and European nations.
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, Parry Nutraceuticals, and Roquette Klotze GmbH & Co. KG, 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.
Reasons to Purchase this report:
The market estimate (ME) sheet in Excel format
3 months of analyst support
Key Topics Covered:
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Application
5.1.1 Food and Beverages
5.1.2 Animal Feed
5.1.3 Dietary Supplements
5.1.4 Other Applications
5.2.1 North America
220.127.116.11 United States
18.104.22.168 Rest of North America
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 Rest of Asia-Pacific
5.2.4 Rest of the World
184.108.40.206 South America
220.127.116.11 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Position Analysis
6.4 Company Profiles
6.4.1 NP Nutra
6.4.2 Phycom BV
6.4.4 Parry Nutraceuticals
6.4.5 Roquette Klotze GmbH & Co. KG
6.4.6 Seagrass Tech Private Limited
6.4.7 Allmicroalgae - Natural Products
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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