According to IMARC Group’s latest report “Algae Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027 “, the global algae oil market reached a value of US$ 1.86 Billion in 2021. Algae oil contains a significant amount of vitamins and minerals and is an animal-free source of omega-3 fatty acids. It also contains eicosatetraenoic acid (EPA) and docosahexaenoic acid (DHA), which aids in reducing inflammation, lowering cholesterol, promoting vision, and minimizing the risk of stroke among people with retinitis pigmentosa. Algae oil is extensively used with other fatty acids to fortify baby and infant formulas and as a stabilizing agent in pet food, ice creams, and other food supplements.
COVID-19 scenario-
We are constantly tracing and assessing the impact of the COVID-19 pandemic on the industry. These influences have been covered in our report as significant market contributors.
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The expansion of the food and beverage and dietary supplement industries has significantly increased the demand for algae oil, which is one of the key factors driving the market growth. Additionally, the increasing awareness among the consumers regarding the benefits of omega-3 fatty acids and the shifting consumer inclination toward the vegetarian-based diet are acting as other growth-inducing factors. Apart from this, the rising prevalence of macular degeneration and the growing geriatric population are creating a positive outlook for the market. Looking forward, IMARC Group expects the market to reach US$ 2.40 Billion by 2027, exhibiting at a CAGR of 4.32% during 2022-2027.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global algae oil market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on grade, distribution channel and application.
Competitive Landscape:
- Algae Floating Systems Inc.
- Algae Production Systems
- Alltech
- Cargill Incorporated
- Cellana Inc.
- Corbion N.V
- Cyanotech Corporation
- Koninklijke DSM N.V.
- Lonza Group AG
- Pond Technologies Inc
- Renewable Algal Energy LLC (RAE).
- Fuel Grade
- Food Grade
- Feed Grade
- Direct Sales
- Supermarkets and Hypermarkets
- Specialty Stores
- Pharmacy
- Online
- Biofuel
- Dietary Supplement
- Food and Beverage
- Animal Feed
- Others
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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