Global Chlorophyll Extracts Market Analysis by Type (Liquid, Tablet and Powder) and Application (Food Additive, Cosmetics, Dietary Supplements)-Opportunities and Forecast till 2033

Market Overview

The global demand for the Chlorophyll Extract market was valued at USD 255.65 Million in 2022 is expected to reach USD 428.38 Million in 2033 growing at a CAGR of 7.6% between 2023 and 2033. The demand for chlorophyll extract is huge from various end-use industries including dietary supplement, personal care, food and beverages, and cosmetics. The demand for chlorophyll extract in several industries is growing owing to their characteristics that make it the better choice for different applications.

Report Scope

Chlorophyll extract has a tremendous demand in dietary supplement application owing to its characteristics such as antioxidant and low toxicity. Chlorophyll extract is extensively used for increasing efficacy of dietary supplements. Furthermore, the application of chlorophyll extract in skincare and cosmetics production is expected to heave the demand for chlorophyll extract. It helps to improve the texture and appearance of cosmetics and personal care products. In addition, chlorophyll extract when used in personal care products changes the flow properties of water. Thus, benefiting a variety of personal care products by allowing manufacturers to create crystal clear serum, softer creams and lotions, and enhanced cleansing systems. All these benefits of chlorophyll extract in different applications are expected to drive the global chlorophyll extract market.

Cosmetics and personal care products with chlorophyll extract are in the market since years. Use of cosmetic products is flourished with rising image of cosmetic brands across middle income class. In the early 21st century, low-middle income class across the globe started adopting new fashion world quickly. With increase in the adoption of fashion trends, aesthetic value of the body increased leading to higher adoption of cosmetics and personal care products. In the pharmaceutical and cosmetic sector demand for chlorophyll extract has increased as these sectors have increased use of chlorophyll extract as an antioxidant, antiseptic, and anti-inflammatory in their products, driving the global chlorophyll extract market.

Segmental Overview

On the basis of types, the market is segmented into power, liquid, and tablets. Chlorophyll extract is converted to tablet, liquid, and powder to increase its ease of use. This ultimately increases its adoption rate, benefiting the overall market growth.

Chlorophyll extract in a powder form is generally used across food and beverages sector, cosmetics, and personal care industry. Demand of chlorophyll extract as powder is more from industrial sector as compared to the retail consumer sector. Chlorophyll extract in powder form is used for wound healing, acne, and hay fever conditions, but there is no good scientific evidence to support these uses well enough.

Based on application, the global chlorophyll extract market is segmented into food additive, cosmetics, and dietary supplement. Application array of chlorophyll extract is expanding with time through which demand and adoption will thrive.

Chlorophyll extract provide a possibility for food & beverage industry to improve their product portfolio and enclose demand. Food and beverage sector has high demand for chlorophyll extract as better taste, texture, color, flavor, quality, and nutrition are the characteristics that food products need today. There are many applications across the food & beverage industry that can be explored with increasing indulgence of chlorophyll extract as food additive. It is used to encapsulate flavors and nutritional ingredients against active interactions, oxidation, release of active ingredients, and hydrolysis.

Regional Trends

Regionally, the market for Chlorophyll Extract is fragmented into North America, Latin America, Asia-Pacific, Europe, and Middle East & Africa.

Europe is one of the leading food & beverages, cosmetics, and personal care products markets across the globe due to the high spending power of consumers and their willingness to try on new and advanced products. Food products and personal care brands have strong production unit presence across Europe, which is expected to increase demand for chlorophyll extract in Europe, driving the European chlorophyll extract market. However, in the last two years, the U.K chlorophyll extract market is hampered due to Brexit (Britain Exit) because it has brought in several changes in the trade policies and international tax rates, hampering the regional chlorophyll extract market growth. Packaged food material industries are major contributors in the European chlorophyll extract market. Consumer trend in the Europe is leaning towards new age; the consumer is demanding technologically advanced food products, cosmetics, and personal care products. Technologically advanced consumer products is using chlorophyll extract as antiseptic and anti-inflammatory in high amounts, supporting the Europe chlorophyll extract market growth.

The Middle East is modern technology-driven market due to high per capita spending and high imports from Europe, North America, and Asia Pacific. Since the early 21st century, ethical beliefs in the Middle East are slowly fading off, which subsequently has been propelling the adoption of advanced cosmetics, personal care products, food & beverages, and beauty products, driving the Middle East chlorophyll extract market. Moreover, flourished food & beverages industry across Middle East and tremendously grown personal care industry, are boosting the demand for chlorophyll extract in the Middle East market.

Africa accounts for the least share of the global chlorophyll extract market due to very low awareness regarding chlorophyll extract infused food & beverages, personal care, and beauty products in the region. In addition, Africa is struggling with poor economic growth, extremely low per capita income, and very poor healthcare infrastructure. Thus, the consumption of cosmetic products with chlorophyll extract is low in the region. Moreover, slow GDP growth, very low adoption of chlorophyll extract infused packaged food products, very low awareness, and many other factors, are some of the major factors hindering the African chlorophyll extract market growth.

Competitive landscape

Some of the major companies operating within the market are: Sigma Aldrich, Fengming Chlorophyll Co., LTD, Mane Kancor, Sensient Colors, Pioneer Herbals, British Chlorophyll and Others. Out of which, British Chlorophyll dominates the market with an active market share of 10.60% in 2021, followed by Sigma Aldrich with 6.92%.

Why to buy this Report?

The report provides quantitative and qualitative aspect for the market in terms of value and volume, along with supporting market trends, challenges, restraints.

The report provides an in depth analysis from both production and consumption point of view at the regional and country level. Key Factors considered within the report scope are Production capacity by countries/regions, average price, consumption ratio, revenue earned and gross margin.

The report provides competitive analysis of around 30-50 companies operated in the market, these companies are bifurcated into niche players, the leaders and major contenders. The companies are analyzed in terms of following factors such as:

§  Business Model

§  Production Capacity, Revenue, Sales, Gross Margin

§  Key Business Strategy

§  SWOT Analysis

In terms of competitive landscape, the report provides distinctive factors that would help the end user in taking a key decision within the business:

§  Company Share Analysis from 2018-2022

§  Company Analysis by Revenue and Sales

§  Company Production Capacity, Gross Margin

§  Company Share Analysis by Application/End Use

§  Company Share Analysis by Product/Specification

Segments

By Type

·         Liquid

·         Tablet

·         Powder

By Application

·         Food Additive

·         Cosmetics

·         Dietary Supplement

Major Companies

·         Sigma Aldrich

·         Fengming Chlorophyll Co., LTD

·         Mane Kancor

·         Sensient Colors

·         Pioneer Herbals

·         British Chlorophyll

·         Others

By Region

·         North America

o   U.S.

o   Canada

o   Mexico

·         Europe

o   Germany

o   France

o   UK

o   Italy

o   Spain

o   Russia

o   Rest of Europe

·         Asia Pacific

o   China

o   Japan

o   India

o   Australia

o   South Korea

o   ASEAN

o   Rest of APAC

·         South America

o   Brazil

o   Argentina

o   Chile

o   Rest of South America

·         Middle East and Africa

o   Saudi Arabia

o   UAE

o   South  Africa

o   Rest of MEA