Dublin, July 19, 2023 (GLOBE NEWSWIRE) -- The "Europe Chlorella Market by Cultivation Method, Product, Source, Application, Distribution Channel - Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
Europe's chlorella market is set to achieve significant growth, with a projected value of $240.3 million by 2030, representing a CAGR of 7.2% from 2023 to 2030. Additionally, the market volume is expected to reach 14,939.8 tons by 2030, growing at a CAGR of 8.2%.
This growth is primarily attributed to several factors, including the development of innovative chlorella food and beverage products, the increasing focus on health, wellness, and protein-rich diets among individuals, and the expanding nutraceuticals industry.
The rise in vegetarianism is also contributing to the market's expansion. Although the demand for chlorella extracts presents growth opportunities for market players, challenges such as the risk of contamination, high production costs, and the complexity of algae product production hinder the market's growth prospects.
Based on cultivation method, the heterotrophic cultivation segment is projected to register the higher CAGR during the forecast period due to the benefits of heterotrophic cultivation systems, such as higher productivity, lower risk of contamination, low water consumption, low space requirements, and excellent purity of biomass. However, the construction, maintenance, and operation of heterotrophic systems are considerably more costly, which limits the adoption of the heterotrophic cultivation method.
Based on product, in 2023, the powder segment is expected to account for the largest share of the Europe chlorella market. The large market share of this segment is mainly attributed to the growing usage of chlorella powder as a strong coloring agent, the growing number of health-conscious consumers, increasing demand from the food & beverages industry to use it as an ingredient, and the ability of chlorella powder to get rid of heavy metal and ash content like mercury from the body.
Based on application, in 2023, the nutraceuticals segment is expected to account for the largest share of the Europe chlorella market. The large market share of this segment is mainly driven by the factors such as the increasing consumer awareness regarding the health benefits of chlorella, growing demand for functional foods, and advantages of chlorella as an ideal health product that integrates metabolism, balances the body, and regulates immune effects.
Based on distribution channel, the business-to-consumer (B2C) segment is projected to register the higher CAGR during the forecast period. The growth of this segment is mainly driven by the growing vegan population, rising healthy eating habits, rising disposable income, the growing preference for personalization, consumer convenience, and greater product selection. Furthermore, the increasing consumer inclination towards online shopping is one of the factors expected to provide growth opportunities for stakeholders operating in this market.
In 2023, Germany is expected to account for the largest share of the Europe chlorella market. The large share of this market is mainly attributed to the growing vegetarian population, rising consumer awareness about the health and environmental impacts of conventional meat and animal welfare, and rising technological advancements in chlorella production.
The report offers a competitive landscape based on an extensive assessment of the product portfolio offerings, geographic presences, and key strategic developments adopted by leading market players in this market in the last three to four years.
Key Questions Answered in the Report:
- Which are the high-growth market segments in terms of cultivation method, product, source, application, distribution channel and region/country?
- What is the size of the Europe chlorella market, and at what CAGR is this market projected to grow during 2023-2030?
- What are the market forecasts and estimates for 2023-2030?
- What are the major drivers, restraints, and opportunities in the Europe chlorella market?
- Who are the major players in the Europe chlorella market?
- How is the competitive landscape, and who are the market leaders in the Europe chlorella market?
- What are the recent developments in the Europe chlorella market?
- What are the geographical trends and high-growth countries?
Market Insights
Drivers
- Development of Innovative Chlorella F&B Products
- Inclination Towards Health & Wellness Trends
- Growing Nutraceuticals Industry
- Growing Vegetarianism
- Growing Inclination Towards a Protein-Rich Diet
Restraints
- Risk of Contamination
- High Production Cost
- Complex Production of Algae Products
Opportunities
- Growing Demand for Chlorella Extracts
Porter's Five Forces Analysis
Value Chain Analysis
- Overview
- Inputs/Suppliers
- Cultivation and Processing
- Packaging, Storage, and Logistics
- Distribution Channels (B2B & B2C)
- Algae-Based Product Formulators and Consumers
Nutritional Profile of Chlorella
- Recommended Daily Intake of Chlorella Nutraceutical Products
Company Profiles (Company Overview, Financial Overview, Product Portfolio, and Strategic Developments)
- E.I.D. - Parry (India) Limited (A Subsidiary of M/S. Ambadi Investments Limited) (India)
- C.B.N. Bio-Engineering Co. Ltd (China)
- YUNNAN GREEN A BIOLOGICAL PROJECT CO. Ltd. (Yunnan Spirin Biotechnology Co. Ltd) (China)
- JIANGSHAN COMP SPIRULINA CO.,LTD (China)
- DAESANG Corporation (Korea)
- Fuqing King Dnarmsa Spirulina Co. Ltd. China)
- Taiwan Chlorella Manufacturing Company (TCMC) (Taiwan)
- AlgoSource (France)
- Bluetec Naturals CO. Ltd. (China)
- Yaeyama Shokusan Co. Ltd. (Euglena Co Ltd) (Japan)
- Sun Chlorella Corporation (Japan)
- Roquette Klotze GmbH & Co. KG (Germany)
- Inner Mongolia Rejuve Biotech Co. Ltd. (China)
- Tianjin Norland Biotech Co. Ltd (China)
- Far East Microalgae Industries
- Co. Ltd.(FEMICO) (Taiwan)
- Far East Bio-Tec. Co. Ltd. (FEBICO) (Taiwan)
- Allmicroalgae Natural Products S.A. (Portugal)
- Aliga Microalgae (Denmark)
- Necton S.A. (Portugal)
- BlueBioTech Group (Germany)
- Qingdao Haizhijiao Biotechnology Co. Ltd (China)
- Pond Technologies Inc. (Canada)
- Hangzhou OuQi Food co. Ltd. (China)
- Reed Mariculture Inc. (U.S.)
- Vedan Biotechnology Corporation (Taiwan)
- Phycom BV (Netherlands)
- TAIWAN WILSON ENTERPRISE INC. (Taiwan)
- Gong Bih Enterprise Co. Ltd. (Taiwan)
- Astaxa GmbH (Germany).
Scope of the report
Europe Chlorella Market Assessment, by Cultivation Method
- Autotrophic Cultivation
- Open Pond Autotrophic Cultivation
- Closed Pond Autotrophic Cultivation
- Heterotrophic Cultivation
Europe Chlorella Market Assessment, by Product
- Powder
- Tablets
- Extract
- Capsules
- Other Chlorella Products
Europe Chlorella Market Assessment, by Source
- Chlorella Vulgaris
- Chlorella Pyrenoidosa or Sorokiniana
- Other Sources
Europe Chlorella Market Assessment, by Application
- Nutraceuticals
- Food & Beverages
- Animal Feed
- Cosmetics
- Other Applications
Europe Chlorella Market Assessment, by Distribution Channel
- Business-to-Business (B2B)
- Business-to-Consumer (B2C)
- Offline Channel
- Online Channel
Europe Chlorella Market Assessment, by Geography
- Germany
- France
- U.K.
- Italy
- Spain
- Netherlands
- Denmark
- Sweden
- Rest of Europe
For more information about this report visit https://www.researchandmarkets.com/r/m2r23m
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