Chlorophyll Extract Market Share, Size, Trends, Industry Analysis Report, By Type (Liquid, Tablet, Powder); By Application (Food Additive, Cosmetics, Dietary Supplement); By Region; Segment Forecast, 2022 - 2030
- Published Date:Mar-2022
- Pages: 113
- Format: PDF
- Report ID: PM2325
- Base Year: 2021
- Historical Data: 2018 - 2020
Report Outlook
The global chlorophyll extract market was valued at USD 252.18 million in 2021 and is expected to grow at a CAGR of 8.0% during the forecast period. Chlorophyll is a naturally driven fat-soluble green pigment that is present in all plants & algae. This pigment absorbs light from the sun for the photosynthesis process and has the ability to convert light to chemical energy.
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It is for the speedy healing of wounds and majorly among cancer patients owing to its anti-cancer effects are the significant factors that are likely to drive the growth of this extract market. The rising adoption of cosmetic products that contain chlorophyll extract is also anticipated to gain huge traction among the population, as individuals are more inclined towards the usage of organic cosmetic products for personal care.
The COVID-19 pandemic had a huge negative impact on the global economy. As the virus spread, a large number of businesses were shut down, out of which most were small businesses, but large businesses were impacted too. These effects of the COVID-19 outbreak are leading nations as well as the global economy towards recession. Due to this, the reduced consumer and institutional spending are anticipated to hinder the growth of the industry.
The increasing health problems, reducing income, and the reduction in resources are anticipated to reduce the global demand. The growing investments towards the development of a vaccine for COVID-19 along with the rising spending towards patient treatment are anticipated to hinder the investments towards the application of the chlorophyll extract market. However, the industry is anticipated to grow as the governments across nations lift lockdown restrictions, and the global economy grows.
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Industry Dynamics
Growth Drivers
The growing acceptance of herbal extract globally is gaining traction across developed countries such as Europe and North America due to the increasing number of health-conscious consumers, which is anticipated to drive the growth of the segment. The use of chlorophyll extract is not limited to health benefits but is also used in cosmetic products too. Chlorophyll contains cream or ointment that is a natural treatment for improving skin and hair.
Furthermore, the rising demand for plant-based ingredients such as cucumber, spinach, avocado, broccoli, snow pea, lettuce, kiwi, and others that contain nutrients such as calcium, folate, lutein, zeaxanthin, vitamin C, and others, is likely to drive the market growth as these are beneficial as food colorants and are used in the food coloring market.
Additionally, the benefits offered by the chlorophyll extract market are anticipated to boost their demand globally. This extract is used for the treatment of herpes naturally, improves liver detoxification, helps in controlling obesity & indigestion, speeds up the healing process, and further improves skin quality.
Report Segmentation
The market is primarily segmented on the basis of type, application, and region.
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By Type |
By Application |
By Region |
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Insight by Application
The food additive segment is recorded to hold the largest share and is expected to lead the market in the forecasting years. The increasing demands for food additives globally, coupled with the growing consumption of packaged foods, are propelling the demand for food additives. In addition, the surging demand for organic food additives such as chlorophyll extract and others on account of the increasing consumer health consciousness is further projected to drive the growth of the segment around the world.
The cosmetics segment is projected to witness the highest growth rate in the forecasting years. The increasing demand for natural & organic cosmetic products globally and growing awareness regarding the harmful chemicals used in conventional cosmetic products are the foremost factors that are expected to surge the segment demand worldwide.
Moreover, the rising use of chlorophyll extract-based cosmetic product owing to their anti-aging and anti-wrinkle properties further helps in improving the skin quality are also positively influencing the segment demand. Thus, these benefits offered by the chlorophyll extract market are anticipated to drive segment growth in the near future.
Geographic Overview
North America is accounted for the largest revenue share. The growing focus of the population towards health, along with the high acceptance of chlorophyll extract across the US and Canada, is estimated to drive the growth of the market. The huge share of the market can be attributed to the presence of key industry players. Furthermore, the increasing developments made by these companies are anticipated to offer huge growth opportunities.
The growing sale of dietary supplements on account of the increasing stress level along with hectic routines, leading to lifestyle diseases such as diabetes, obesity & blood pressure, among others, is expected to boost the demand for dietary supplements containing this extract. Moreover, APAC is projected to exhibit the highest growth rate over the study period. The growth of the segment can be attributed to the increasing urbanization, increasing per capita income, improving living standards, and changing the lifestyle of the population across emerging nations. The rising prevalence of online retailing in the Asia Pacific is projected to present growth opportunities.
Moreover, in China and India, chlorophyll derived from parsley is used as a cure for bad breath. The emerging nations such as China, India, and Japan, among others, are positively attributing to this extract development. Furthermore, the increasing number of global players investing in the Asia Pacific is likely to augment the market growth. The presence of a large consumer base is anticipated to offer huge market growth opportunities. The rising consumer awareness regarding health & the benefits of chlorophyll extract is anticipated to drive the demand in the Asia Pacific.
Competitive Insight
Some of the major players operating in the global market include British Chlorophyll, Fengming Chlorophyll Co., LTD, Global Essence, Hansen, Knowde, Merck Group (Sigma-Aldrich), Natural Health Products (INT) Ltd, Pioneer Herbals, Sensient Colors, and Xi an Sost Biotech Co., LTD.
Chlorophyll Extract Market Report Scope
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Report Attributes |
Details |
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Market size value in 2021 |
USD 252.18 million |
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Revenue forecast in 2030 |
USD 482.23 million |
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CAGR |
8.0% from 2022 - 2030 |
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Base year |
2021 |
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Historical data |
2018 - 2020 |
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Forecast period |
2022 - 2030 |
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Quantitative units |
Revenue in USD million/billion and CAGR from 2022 to 2030 |
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Segments covered |
By Type, By Application, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Key companies |
British Chlorophyll, Fengming Chlorophyll Co., LTD, Global Essence, Hansen, Knowde, Merck Group (Sigma-Aldrich), Natural Health Products (INT) Ltd, Pioneer Herbals, Sensient Colors, and Xi an Sost Biotech Co., LTD |
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