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The global Chlorella Ingredients Market is poised for significant growth between 2021 and 2032, fuelled by a surge in veganism and escalating health consciousness among consumers. The market, which held a value of approximately USD $$ billion in 2021, is anticipated to expand at a compound annual growth rate (CAGR) of over 10.25% from 2022 to 2028.
Chlorella, predominantly utilized as a dietary supplement, is earning recognition for its potential health benefits, including its touted capacity to treat cancer. The growth of the market is propelled by an increasing demand for natural ingredients, product launches, and a swelling population of vegans in various regions. For instance, the UK witnessed a rise in its vegan population from 2% to 5% from 2019 to 2021.
Despite the optimistic forecast, the market is not without its hurdles. High production costs loom as a potent challenge that could impede growth. The Asia Pacific region, however, continues to dominate the global market share, thanks to advancements in the food and beverage sector and a surge in the consumption of healthy food products. This region is also projected to be the fastest-growing.
Among the major market players are NP Nutra, Parry Nutraceuticals, Allmicroalgae – Natural Products, and several others. A shift in consumer focus towards healthy eating and natural ingredients is evident, with Prinova’s Functional Health Trends report underscoring nine consumer mega trends, including ‘Targeted Nutrition’, ‘Hack My Health’, and ‘State of Mind’. The report accentuates the rising demand for cost-effective solutions to alleviate stress, as well as the emphasis on personalized and natural nutrition. Additionally, it points to the increasing competition and demand for branded ingredients in the market.
Hadeel Hashem is an internationally acclaimed journalist recognized for her profound dedication to climate change and environmental reporting. With nearly a decade of experience under her belt, she has solidified her position as a trusted and respected figure in the world of journalism. Originating from Egypt, Hadeel has enriched the media landscapes of both Egypt and Saudi Arabia with her contributions since 2013, culminating in her recent role as Editor at MSN Arabia. Throughout her illustrious career, Hadeel has garnered several esteemed awards, a testament to her unparalleled expertise and unwavering dedication to factual reporting.
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