Chlorella Powder Ingredient Market Expected to Exhibit Huge Expansion in Future

From $423.7 million in 2018, the global chlorella powder ingredient market is predicted to attain a valuation of $1,106.8 million in 2024, demonstrating a CAGR of 16.5% from 2019 to 2024. The major factors powering the surge of the market are the increasing requirement of hair and skincare products, rising customer demand for plant-based protein supplements, and the surging awareness of health, fitness, and wellness amongst the people throughout the world. 

The rise in the working women population and disposable income of people around the world, especially in the emerging economies are the main reasons behind the growing usage of hair and skincare products. In addition to this, the increasing popularity of organic and natural products, on account of the soaring public awareness of the toxic effects of chemicals on the body, is causing a surge in the sales of chlorella-based cosmetic and personal care products across the globe.

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In the coming years, the growth of  chlorella powder ingredient market is predicted to demonstrate rapid expansion in North America and Asia-Pacific (APAC), with both regions predicted to hold more than 65% market share by 2024. This is attributed to the soaring sales of organic skincare and hair products, rising public awareness about health, fitness, and wellness, and growing usage of various plant-based protein supplements in the regions. The market will also exhibit rapid progress in Europe, Middle East and Africa (MEA), and Latin America (LATAM) in the upcoming years.

Hence, with the growing usage of organic and natural hair and skincare products, increasing customer preference for plant-based nutrient supplements, and the rising public awareness of health and wellness, the market will demonstrate substantial growth over the next several years.