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Increasing Focus of Consumers on Health and Fitness Driving

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Increasing Focus of Consumers on Health and Fitness Driving

In 2018, the global chlorella powder ingredient market reached a value of $423.7 million and is projected to attain $1,106.8 million in 2024, advancing at a 16.5% CAGR during the forecast period (2019–2024). The increasing consumption of plant-based protein supplements, rising demand for organic skin and hair care products, and surging focus of consumers on health and fitness are the major driving factors of the market. Chlorella powder is produced from Chlorella, which is a genus of freshwater and terrestrial unicellular green alga containing several micronutrients and macronutrients.

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When end use is taken into consideration, the chlorella powder ingredient market is divided into cosmetics, dietary supplements, animal feed, and food & beverages. Among these, the food & beverages division accounted for the major share of the market during the historical period (2014–2018) and is further projected to retain its position during the forecast period. This is due to the rising demand for plant-based food products around the world. The dietary supplements division is expected to grow at the fastest pace during the forecast period.

On the basis of distribution channel, the chlorella powder ingredient market is categorized into convenience stores, specialty stores, supermarkets/hypermarkets, online platforms, and pharmacies. Out of these, the supermarkets/hypermarkets category dominated the market during the historical period and is expected to hold the largest share of the market during the forecast period as well. The reason for this is the rise in number of supermarkets/hypermarkets in countries such as Mexico, the U.A.E, China, and the U.S. The online platforms category is projected to witness the highest CAGR during the forecast period.

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A key driving factor of the chlorella powder ingredient market is the growing focus of consumers on health and fitness. The primary reason for the popularity of nutrient-dense alga is its health benefits. Chlorella helps in detoxing the body by facilitating the removal of several harmful compounds, such as cadmium, lead, and mercury. Furthermore, it has been found that chlorella stimulates the production of antibodies that improve the immune system. In addition to this, chlorella contains fiber, antioxidants, niacin, and carotenoids which help reduce cholesterol and triglycerides in the body.

Another factor driving the chlorella powder ingredient market is the rising consumption of plant-based protein supplements. The increasing health consciousness and risk of cardiovascular diseases and type 2 diabetes, which is associated with the consumption of animal proteins, are leading to the increased consumption of plant-based proteins. The market for plant-based protein supplements is predicted to reach $8 billion in 2025 from $4 billion in 2017 due to the rising preference toward vegan protein supplements, which is taking place because of their benefits including enhanced metabolism, cardiovascular health, and digestion.

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The surging requirement for organic skin and hair care products is also among the primary driving factors of the chlorella powder ingredient market. As the disposable income of people and the population of working women around the world is rising, the demand for natural and organic skin and hair care products in also increasing. Consumers in the market are looking for products which are free from harmful chemicals and since chlorella contains several minerals, nutrients, and vitamins, its requirement is rising rapidly.

Thus, the market is registering significant growth due to the increasing focus of consumers on fitness and health, surging demand for organic hair and skin care products, and rising consumption of plant-based protein supplements.

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This release was published on openPR.

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