Chlorophyll Extract Market Size, Share, Trends, Growth and Forecast 2030

Chlorophyll Extract Industry Prospective:

The global chlorophyll extract market size was worth around $ 273.56 million in 2022 and is predicted to grow to around $ 503.64 million by 2030 with a compound annual growth rate (CAGR) of roughly 7.94% between 2023 and 2030.

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The report analyzes the global chlorophyll extract market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the chlorophyll extract industry.             

Chlorophyll Extract Market: Overview

Chlorophyll extract is a pigment derived from all types of plants, generally from green vegetables like parsley, kale, and spinach. It is an important component of photosynthesis; photosynthesis is a process by which plants convert light energy into chemical energy for food production. Chlorophyll plays a vital role in capturing sunlight and transforming it into glucose, providing plants with the energy required for the development and growth of plants. Apart from its fundamental role in photosynthesis, chlorophyll extract has gained popularity in the wellness industry and health due to its important health benefits. It is supposed to possess antioxidant properties, aiding in the removal of harmful free radicals and reducing oxidative stress in the body. Moreover, chlorophyll extract has been discovered for its potential as a natural detoxifying agent, supporting liver health and helping the elimination of toxins from the body.

Key Insights

• As per the analysis shared by our research analyst, the global chlorophyll extract market is estimated to grow annually at a CAGR of around 7.94% over the forecast period (2023-2030).
• In terms of revenue, the global chlorophyll extract market size was valued at around $ 273.56 million in 2022 and is projected to reach $  503.64 million, by 2030.
• Increasing consumer awareness regarding health and wellness has resulted in an increased demand for natural and plant-based products. Chlorophyll extract, with its verified antioxidant properties and probable detoxification benefits, has gathered significant attention among the health-conscious person. Users are enthusiastically seeking options for pharmaceuticals and synthetic supplements, leading them to discover the potential advantages of chlorophyll extract as a nutritional supplement.
•  Based on application, the food & beverages segment is expected to dominate the market during the forecast period.
• Based on form, the powder segment is expected to dominate the market during the forecast period.
• Based on distribution channel, the business-to-business segment is expected to capture the largest revenue share over the forecast period.
• Based on region, North America is expected to dominate the market during the forecast period.

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Chlorophyll Extract Market: Growth Drivers

Increasing consumer awareness regarding health and wellness is likely to boost global market growth.

With the increasing consumer awareness regarding the health & wellness benefits of chlorophyll extract, the demand for natural and plant-based products has been on the rise. Chlorophyll extract, with its verified antioxidant properties and detoxification benefits, has gathered significant attention among health-conscious people. Users are enthusiastically seeking options for pharmaceuticals and synthetic supplements, leading them to discover the potential advantages of chlorophyll extract as a nutritional supplement. Moreover, the rising adoption of healthy lifestyles and preventive healthcare processes has fueled the popularity of natural products like chlorophyll extract. The easy availability of chlorophyll supplements in various forms and the expanding supply channels additionally contribute to the growth of the global chlorophyll extract market. Moreover, as positive consumer and scientific research experiences are put forth, the market for chlorophyll extract is likely to witness a steady expansion in the incoming years.

Another driving factor of the global market is the increasing demand for functional food and nutraceutical products. As consumers become health-conscious and proactive in managing their well-being, there is a rising interest in incorporating functional foods and supplements into their daily food. Functional foods provide additional health benefits as compared to basic nutrition, while nutraceuticals are dietary supplements that provide specific health benefits. For Instance, in March 2023, Herbalife Nutrition, a global nutrition company, announced that it was adding chlorophyll extract to its line of dietary supplements. This move is part of Herbalife Nutrition's strategy to offer products that support overall health and well-being.

Chlorophyll Extract Market: Restraints

Regulatory uncertainty and lack of standardization to restrict global industry expansion.

Regulatory uncertainty and lack of standardization are likely to restrict global chlorophyll extract industry expansion. Regulatory uncertainty in the market denotes the lack of clear and consistent regulations governing the labeling, production, and marketing of chlorophyll-based products. Various countries and regions may have different requirements and standards for these products, leading to problems and obstacles for suppliers and manufacturers. The lack of standardization in the chlorophyll extract market refers to the absence of commonly accepted safety standards and quality for chlorophyll products. Standardization involves creating consistent rules & regulations for product purity, composition, testing method, and labeling.

Chlorophyll Extract Market: Opportunities

Increasing demand for natural food colorants is likely to open new growth avenues for the global market.

The chlorophyll extract market presents a promising opportunity in response to the rising demand for natural food colorants. As consumers become more aware of the probable health risks associated with synthetic food colorants and additives, the food industry is witnessing a shift towards using natural alternatives. Chlorophyll extract, with its exciting green color derived from plant sources, emerges as a better option for food producers seeking safe and natural alternatives to synthetic colorants. Chlorophyll extract can be used to enhance the visual appeal of a wide range of dairy products & food products, including beverages, baked goods, and confectioneries. Its natural origin aligns with the clean label movement, which emphasizes the use of slightly processed and easily identifiable ingredients. Including chlorophyll extract in food formulations not only imparts a visually appealing green hue but also offers high health benefits related to the extract's antioxidant properties. For instance, in January 2023, Sensient Technologies Corporation acquired the assets of Flavor Solutions, Inc. This acquisition will help Sensient Technologies to expand its portfolio of natural food colors and flavors.

Chlorophyll Extract Market: Challenges

Competition from synthetic alternatives and artificial colorants to be a major challenge for the global industry surge.

Competition from synthetic alternatives and artificial colorants is a major challenge for the global chlorophyll extract industry surge. Chlorophyll extract provides a plant-derived and natural solution for different applications, however, synthetic colorants often present a cheaper and more readily available option for manufacturers. Artificial colorants, derived from petrochemicals, offer stability, a wide range of colors, and consistency in comparison to natural extracts like chlorophyll.

Chlorophyll Extract Market: Segmentation

The global chlorophyll extract market is segmented based on application, form, distribution channel, and region.

Based on the application, the global market is bifurcated into pharmaceuticals, personal care, cosmetics, food & beverages, supplements, and others. The food & beverages segment is expected to capture the largest revenue share over the forecast period. Chlorophyll extract in the food and beverage segment is rising with the growing user approach for natural food colorants. Synthetic colorants and artificial additives have come under scrutiny due to potential health concerns, thus making consumers choose alternatives with fewer chemical components. Chlorophyll extract aligns perfectly with this trend, offering a safe and plant-derived colorant that meets consumer demands for cleaner and healthier food options.

Based on the form, the chlorophyll extract industry is divided into powder, liquid, capsules, tablets, and others. The powder segment is expected to capture the largest revenue share over the forecast period. The growing trend of natural and plant-based cosmetic products also contributes to the demand for chlorophyll extract powder. As people become more aware of the potential dangers of synthetic ingredients in cosmetics, they are seeking products that have natural and eco-friendly formulations. Chlorophyll extract powder, which has soothing properties and a green pigment, is becoming more popular in skincare and cosmetic items, such as natural moisturizers, creams, and makeup. The use of chlorophyll extract fits in with the clean beauty movement, where consumers prioritize products that are free from harmful chemicals and have a sustainable sourcing footprint.

Based on the distribution channel, the chlorophyll extract industry is segmented into business-to-business, offline retail, and online retail. The business-to-business segment is expected to capture the largest revenue share during the forecast period. The business-to-business segment plays an important role in facilitating the supply chain, distribution, and production of chlorophyll extract products. One of the main growth drivers for B2B transactions in this market is the rising demand from producers of cosmetics, functional, dietary supplements, and other sectors that use chlorophyll extract as an ingredient. As users' consciousness of the potential health advantages and natural origin of chlorophyll extract rise, organizations in different sectors are seeking reliable suppliers of high-quality chlorophyll extract to include in their products.

Chlorophyll Extract Market: Report Scope

Chlorophyll Extract Market: Regional Analysis

North America is expected to dominate the market during the forecast period

North America is the largest market in the global chlorophyll extract market, accounting for a 35% share in 2022. The development of the market is fueled by increasing consumer consciousness and preference for natural & plant-based products. As wellness and health continue to be significant concerns for North American consumers, the requirement for dietary supplements and functional foods containing chlorophyll extract has surged. The region's well-established dietary supplement and health food sector further help the market's growth.

Europe is the second-largest market for chlorophyll extract, accounting for a 25% share in 2022. The market benefits from a strong focus on clean-label products and the demand for natural food colorants. With users becoming more cautious about the potential health risks associated with synthetic colorants and artificial additives, chlorophyll extract presents an attractive option for food & beverage producers. The region's rising regulations on food additives & colorants also drive the requirement for natural options like chlorophyll extract.

Chlorophyll Extract Market: Competitive Analysis

The global chlorophyll extract market is dominated by players like:

• British Chlorophyll
• Global Essence
• Fengming Chlorophyll Co. Ltd
• Knowde
• Hansen
• Natural Health Products (INT) Ltd
• Merck Group (Sigma-Aldrich)
• Sensient Colors
• Pioneer Herbals
• Xi an Sost Biotech Co. Ltd.

The global chlorophyll extract market is segmented as follows:

By Application

• Food and Beverages
• Supplements
• Pharmaceuticals
• Cosmetics
• Personal Care
• Others

By Form

• Powder
• Liquid
• Capsules
• Tablets
• Others

By Distribution Channel

• Online Retail
• Offline Retail
• Business-to-business

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa