Algal oil is extracted directly from algae and is a major source of omega-3 fatty acids. The majority of algae grow through photosynthesis, while some grow in the dark using 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's growth.
The global algae oil market is growing at a rapid pace and is expected to observe robust growth over the next seven years until 2023. The rising potential of algae oil due to its potential as a vegetarian source of omega-3 fatty acids and DHA is expected to impel the growth of the algae oil market over the forecast period.
At present, the North American region captured the maximum share in the revenue of the algae oil market and is anticipated to dominate over the forecast period. Rising awareness related to the benefits of consuming algae oil, along with increasing demand by various companies in the food and beverage and dietary supplement segments, is projected to boost the demand for algae oil in the Asia Pacific region over the coming few years and will expand the growth of the market during the forecast period.
The global market for algae oil is mainly concentrated in North America. Major players are adopting different market strategies to enter and enhance their market position and distribution network.
The global algae oil market is segmented on the following basis:
By Production Type
Feed Grade
Food Grade
Others
By Application
Animal Feed
Infant Formula
Dietary Supplements
food and beverage
Others
By Geography
North America
U.S.
Canada
Europe
U.K.
France
Germany
Italy
Russia
Rest of Europe
Asia Pacific
Japan
China
India
Australasia
Rest of APAC
Rest of the World
Latin America
Brazil
rest of Latin America
Middle-East& Africa
Africa
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 the following:
An overview of the global algae oil market
Market trends assessment for the period 2016-2023, with historical information for 2013 and 2014 and projections through 2023, with respective CAGRs during 2016-2023 and 2015 as the base year
Qualitative assessment tools such as market drivers, challenges, and future prospects, and competitive analysis: market positioning of key market players
Focus on each level of market segmentation based on product approvals, launches, and current and anticipated market dynamics.
A general overview of the industry structure
Company profiles highlighting key information about the major players operating in the global algae oil market,
This report includes an estimation of market sizes for value. Both top-down and bottom-up approaches have been used to estimate and validate the size of the algae oil market.
Frequently Asked Questions:
The market for Algae Oil is expected to reach XX Mn in 2023.
The Algae Oil is expected to see significant CAGR growth over the coming years, at XX%.
The report is forecasted to 2016-2023.
The base year of this report is 2015.
Royal DSM, Lonza Group Ltd., Cargill Alking Bioengineering, Runke Biological Company, Cellana Inc., Rishon International Group, Hubei Fuxing Biotechnology, and others
