The market is poised to register a CAGR of 12.6% during the forecast period. The market is competitive and driven by the increase in functional food and beverages and growing consumer demand for natural ingredients.
Market Dynamics
The functional food beverages market is one of the fastest growing market in the food sector. The market is expected to accelerate at a rate of 7.3%, during the forecast period. Chlorella is known as a superfood alternative and detoxifying agent, which identifies metal toxins and does not allow it to dissolve in the body. Therefore, owing to these advantages, the chlorella is an integral part of functional foods and beverages. The growth of functional foods and beverages are expected to drive the chlorella ingredients market for 23 impactful years. Further, the impact is expected to be medium, during the forecast period, due to the stability in the market.
Market Segmentation
Chlorella ingredient has a range of applications due to its health benefits. It helps in improving immune system, gut health, reduce cholesterol and also used as an antioxidant, thus predominantly used in functional foods. The adoption of chlorella in food and beverages market is a regular practice in developing countries. In addition, the growing demand for functional food and beverages has created a scope for chlorella in dietary supplements. Moreover, the natural and premium products application is driving the dietary supplements market.
Regional Analysis
The chlorella ingredients are used in the cuisines of many Asian countries, making them hub for the market. Further, with increasing importance of vegetable protein, the chlorella was spotlighted and commercialized. The market in Europe and North America are expected to boom, during the forecast period.
MAJOR PLAYERS: ALGAEBIO, AURORA, CELLANA, FEBICO, FUQING KING DNARMSA SPIRULINA CO., LTD., GUANGDONG LEJIN MEDICINE COMPANY LTD., HELIAE, INC., KINGHERBS, INC., PHARMAFREAK, PHYTOMER, ROQUETTE, SOLAZYME, and TIANJIN NORLAND BIOTECH CO., LTD., amongst others.
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Analyzing outlook of the market with the recent trends and Porter's five forces analysis
Market dynamics which essentially consider the factors which are impelling the present market scenario along with growth opportunities of the market in the years to come
Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and noneconomic aspects
Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
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