(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.

Apart from this, chlorella powder is also used as a sports nutrition supplement because it helps in increasing oxygen uptake capacity in young women and men. The young athletes and sportspersons are generating hefty demand for plant-based supplements to meet the high oxygen requirement during exercise and sports activities. To meet this requirement from the sports fraternity, sports nutrition brands, such as Global Health Trax Inc. offers a wide range of vegan supplements under the brand name Vegan Life Nutrition.

All these chlorella-based products are easily available at online platforms, convenience stores, supermarkets/hypermarkets, pharmacies, and specialty stores. Among the various distribution channels, supermarkets/hypermarkets, in China, the U.A.E., Mexico, the U.S., and other countries, are the largest providers of these products. Furthermore, the rising number of e-commerce platforms and the growing number of internet users, along with greater product variation, home delivery, and easy price comparison, will attract more consumers toward online platforms in the coming years.

According to P&S Intelligence, North America and Asia-Pacific (APAC) will collectively dominate the chlorella powder ingredient market in the foreseeable future. This can be ascribed to the spurring demand for organic skin and hair products, accelerating consumption of plant-based protein supplements, and growing focus on health fitness among the populace of these regions. Among APAC countries, China adopts the highest quantity of chlorella-based products, due to the rising consciousness regarding healthy lifestyle among the people in the country.

Owing to the shift toward a healthy lifestyle and organic products, companies such as Sun Chlorella Corp., Roquette Frères S.A., PureBulk, Phycom BV, Organika Health Products Inc., Healthworks, Tianjin Norland Biotech Co. Ltd., Organika Health Products Inc., Fuqing King Dnarmsa Spirulina Co. Ltd., NOW Health Group Inc., and E.I.D – Parry (India) Limited are launching a variety of chlorella-based products. These players focus on maintaining product purity and quality, which depend on the cultivation methods used by the manufacturers.

Owing to the high nutritional value of chlorella, it is widely used in the production of organic cosmetics, supplements for sportspersons and athletes, and vegan food products. With the changing lifestyle, the adoption of these products will tremendously increase in the coming years.

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