Overview:
Algae oil is extracted directly from algae and is a major source of omega 3 fatty acids. Majorly algae grow utilizing photosynthesis while some algae grow in dark utilizing sugar starch. Algae oil is one of the essential segments within omega-3 polyunsaturated fatty acid ingredients. It is highly expensive as compared to fish oil which is a significant factor restricting the market growth.
The global algae oil market is growing at a rapid pace and is expected to observe robust growth over the next seven years till 2023. Rising potential of algae oil due to its potential as vegetarian source for omega 3 fatty acids and DHA is expected to impel the growth of algae oil market over the forecast period.
At present, North America region captured the maximum share in revenue of algae oil market and is anticipated to dominate over the forecast period. Rising awareness related to benefits of consuming algae oil along with increasing demand by various companies in food and beverage and dietary supplement segment is projected to boost the demand for algae oil in Asia Pacific region over the coming few years and will expand the growth of the market during the forecast period.
The global algae oil market is mainly concentrated in North America. Major players are adopting different market strategies to enter and enhance their market position and distribution network.
Global Algae Oil market is segmented on the following bases:
Key Players Identified across the Value Chain in the Algae Oil Market include but are not limited to:
Royal DSM, Lonza Group Ltd., Cargill Alking Bioengineering, Runke Biological Company, Cellana Inc., Rishon International Group, Hubei Fuxing Biotechnology, and others.
This report offers:
