Sarasota, FL -- (SBWIRE) -- 12/28/2018 -- 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.

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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.

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).

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By geography, the global chlorella market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The Asia Pacific chlorella market is estimated to grow at a high rate of growth over the estimated timeframe. The Asia Pacific region is the major producer and consumer of chlorella. Japan, Korea, China, and Taiwan are large contributors to the chlorella market.

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.

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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