Meticulous Research®—a leading global market research company, published a research report titled, ‘Europe Chlorella Market by Cultivation Method (Autotrophic), Product (Extracts), Source (Chlorella Vulgaris, Chlorella Pyrenoidosa or Sorokiniana), Application (Nutraceuticals, Food and Beverages, Animal Feed), Distribution Channel (B2C) – Forecast to 2030.’
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According to this latest publication from Meticulous Research®, in terms of value, the Europe chlorella market is projected to reach $240.3 million by 2030, at a CAGR of 7.2% from 2023 to 2030. In terms of volume, the Europe chlorella market is projected to reach 14,939.8 tons by 2030, at a CAGR of 8.2% from 2023 to 2030. The growth of this market is mainly driven by the development of innovative chlorella food and beverage products, growing inclination towards health and wellness, growing nutraceuticals industry, growing vegetarianism, and growing inclination of consumers towards a protein-rich diet. However, the risk of contamination, high production cost, and complex production of algae products restrain the growth of this market. Moreover, the growing demand for chlorella extracts is expected to create growth opportunities for the players operating in the Europe chlorella market.
The Europe chlorella market is segmented by cultivation method (autotrophic cultivation {open-pond autotrophic cultivation, closed-pond autotrophic cultivation}, heterotrophic cultivation), product (powder, tablets, extracts, capsules, and other chlorella products), source (chlorella vulgaris, chlorella pyrenoidosa/sorokiniana, and other sources), application (nutraceuticals, food & beverages, animal feed, cosmetics, and other applications), and distribution channel (business-to-business (B2B), business-to-consumer (B2C) {offline channel, online channel}). The study also evaluates industry competitors and analyzes the country-level markets.
Based on cultivation method, the Europe chlorella market is segmented into autotrophic cultivation and heterotrophic cultivation. The autotrophic cultivation segment is segmented into open-pond autotrophic cultivation and closed-pond autotrophic cultivation. In 2023, the autotrophic cultivation segment is expected to account for the larger share of the Europe chlorella market. The large market share of this segment is mainly attributed to the easy implementation and management of open ponds and the low cost of large-scale biomass production. The increasing production of chlorella in open ponds by major chlorella-producing countries, such as Germany, Japan, China, the Czech Republic, and Taiwan, is expected to boost the growth of the autotrophic cultivation segment.
Based on product, the Europe chlorella market is segmented into powder, tablets, extracts, capsules, and other chlorella products. The extracts segment is slated to register the highest CAGR during the forecast period. The fast growth of this segment is mainly driven by the factors such as growing demand for chlorella from functional food and supplement manufacturers and the presence of high levels of water-based nutrients, such as essential amino acids, vitamin A, B vitamins, iron, calcium, chlorophyll, lutein, and zeaxanthin. Further, chlorella extracts have a higher solubility and improved taste than chlorella powder.
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Based on source, the Europe chlorella market is segmented into the chlorella vulgaris, chlorella pyrenoidosa or sorokiniana, and other sources. In 2023, the chlorella vulgaris segment is expected to account for the larger share of the Europe chlorella market. The large market share of this segment is mainly driven by the growing demand for novel and naturally flavored plant-based protein-rich ingredients and growing applications in the biofuel industry. Moreover, it is more sustainable than other sources because of its high lipid yield without seasonal variations, low water and land requirements, and higher photosynthetic efficiency. These are the factors expected to drive the demand for chlorella vulgaris.
Based on application, the Europe chlorella market is segmented into nutraceuticals, food & beverages, animal feed, cosmetics, and other applications. The nutraceuticals segment is slated to register the highest CAGR during the forecast period. The growth of this market is driven by the factors such as 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 chlorella market is segmented into business-to-business (B2B) and business-to-consumer (B2C). In 2023, the business-to-business (B2B) segment is expected to account for the larger share of the Europe chlorella market. The large market share of this segment is mainly attributed to the huge purchase of bulk chlorella by various manufacturers, such as nutraceuticals, food and beverages, and animal feed, among others, for further product development. The B2B demand for chlorella in Europe is expected to continue to grow in the coming years due to the increasing consumer demand for natural and plant-based products and the expanding use of chlorella in various industries.
Based on geography, the Europe chlorella market is segmented into Germany, France, the U.K., Italy, Spain, the Netherlands, Denmark, Sweden, and the Rest of Europe. France is projected to record the highest CAGR during the forecast period. The growth of this market is mainly driven by increasing awareness regarding natural ingredients, a growing food industry, increasing demand for nutraceuticals, and rising health consciousness. Furthermore, the growing cosmetics and personal care sector is expected to create growth opportunities for stakeholders operating in this market.
Key Players
The key players operating in the Europe chlorella market include 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 Klötze 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), and Astaxa GmbH (Germany).
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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?
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