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
- Animal Feed
- Infant Formula
- Dietary Supplements
- food and beverage
- Rest of Europe
- Rest of APAC
- Rest of the World
- rest of Latin America
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.