The increasing health consciousness among people and growing
risk of cardiovascular diseases have resulted in a shift toward healthier food
options. Attributed to this, individuals are increasingly opting for
plant-based protein supplements, which is why the plant-based protein
supplements market is predicted to grow to about $8 billion in 2025 from $4
billion in 2017. The preference toward vegan protein supplements is rising
because of their various advantages, such as improved metabolism,
cardiovascular health, and digestion. Ascribed to all these factors, the demand
for chlorella is growing as it is considered to be a great source of protein,
containing 50–60% protein, which is much higher than other vegan and
animal-based protein sources.
Chlorella is produced from chlorella, which is a genus of
freshwater and terrestrial unicellular green alga that has several
micronutrients and macronutrients, such as vitamins, proteins, and minerals,
and provides various health benefits to animals and humans. According to a
research conducted by P&S Intelligence, the global chlorella powder ingredient market generated a revenue of $423.7 million in 2018 and is projected to
reach $1,106.8 million in 2024, registering a 16.5% CAGR during the forecast
period (2019–2024). The powder is distributed by different channels, namely
convenience stores, pharmacies, supermarkets/hypermarkets, specialty stores,
and online platforms. Among these, the largest demand for chlorella powder
ingredient was created by supermarkets/hypermarkets during 2014–2018.
Another key driving factor of the chlorella powder
ingredient market is the rising demand for organic skin and hair care
products. The different reasons for this growing requirement for hair and skin
care products are the increasing population of working women around the globe,
surging need for organic and natural products, and rising disposable income of
people. At the present time, the consumers are looking for products which are
free from any harsh chemicals. As chlorella contains various vitamins,
minerals, and other nutrients, which benefit skin and hair immensely, its
requirement from several cosmetic product and personal care companies is
increasing.
Apart from the aforementioned companies, other players offering chlorella powder ingredient products, across the globe include Phycom BV, Tianjin Norland Biotech Co. Ltd., Organika Health Products Inc, NOW Health Group Inc., Green Foods Corporation, Swanson Health Products Inc., TOOTSI IMPEX Inc., Taiwan Chlorella Manufacturing Company, Health Ranger Inc., and Bionest Corporation SDN. BHD.
