(MENAFN- P&S Intelligence) Chlorella powder is used in production of cosmetics, food and beverages, animal feed, and dietary supplements. The food and beverage industry is producing chlorella-based foods and drinks in large quantities, due to increasing shift toward vegan lifestyles. As chlorella is a rich source of minerals, vitamins, and proteins, people are increasingly consuming such foods and drinks for several health benefits. Thus, rapid shift toward veganism will assist the chlorella powder ingredient market in raising its value from $423.7 million in 2018 to $1,106.8 million by 2024, registering 16.5% CAGR during 2019–2024.

In the recent years, the consumption of chlorella powder has also surged in the cosmetics industry, due to the escalating demand for organic skin and hair care products. The minerals and vitamins in chlorella offer several benefits for the hair and skin, owing to which its application has increased in the personal care and cosmetics industry. Due to the growth in the disposable income and boom in working population, especially in developing countries, the adoption of chlorella-based organic skin and hair products will soar in the coming years.

The chlorella powder ingredient market is categorized, on the basis of end-use, into cosmetics, animal feed, dietary supplement, and food & beverages (F&B). Out of these, the F&B category recorded the highest growth in the market in the years gone by, because of the widespread consumption of various chlorella-based food items and drinks around the world. The rapid rise in the number of people following vegan lifestyles also pushed up the global demand for chlorella powder ingredients.

This is because chlorella is an excellent source of vitamins, minerals, and proteins. Geographically, the chlorella powder ingredient market would boom in North America and Asia-Pacific (APAC) in the forthcoming years, as per the forecast of P&S Intelligence, a market research company based in India. This would be because of the growing requirement for organic hair and skin care products, rising need for plant-based protein supplements, and the mushrooming public awareness of health and fitness in the regions.

Hence, it can be concluded that the demand for chlorella powder ingredient would skyrocket all over the world in the upcoming years, primarily because of the rising requirement for hair and skin care products and the growing consumption of dietary supplements around the world.

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