Reports
Global Algae Oil Market Share, Size, Report, Forecast: By Grade: Food Grade, Feed Grade, Fuel Grade; By Application: Biofuel, Dietary Supplements, Pharmaceuticals, Animal Feed, Food and Beverage; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand; Competitive Landscape; 2024-2032
Global Algae Oil Market Outlook
The global algae oil market stood at a value of around USD 1.83 billion in 2023. The market is further expected to grow at a CAGR of 4.10% in the forecast period of 2024-2032 to attain a value of nearly USD 2.63 billion by 2032.
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Heightened Demand in the Food and Beverage Sector to Bolster the Algae Oil Industry
Based on application, the food and beverage sector is estimated to hold a significant share in the market. Algae oil is rich in many antioxidants, proteins, and essential omega-3 fatty acids, which have extraordinary health benefits. In addition, the growing awareness regarding health and fitness is resulting in increased consumer preference for nutritious foods and healthier alternatives, thus, aiding the market.
Based on grade, the feed grade segment is expected to expand in the forecast period since algae oil serves as a nutrient-rich alternative to grain feed. Also, the cultivation of algae requires less quantity of water and land, giving an added advantage.
North America to Account for a Considerable Share of the Global Algae Oil Industry
In terms of region, North America is expected to account for a significant share in the global algae oil industry in the forecast period because of the growing demand in the biofuel and food and beverage industries. This growth can be attributed to the health benefits and environment-friendly properties of algae oil. Meanwhile, an increased growth can also be observed in the Asia Pacific region due to the rapid developments in the application segments of dietary supplements, food and beverage, and animal feed. In addition, in China, the increasing government efforts to control the rising pollution levels in the country are predicted to enhance the demand for algae oil in the biofuel segment.
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Algae Oil: Market Segmentation
Algae oil is an oil produced from marine algae. It serves as a significant source of omega-3 fatty acids such as docosahexaenoic acid (DHA) and eicosapentaenoic acid (EPA). Some of the benefits of algae oil include vision improvement in people with certain eye conditions, cholesterol-lowering, and reduced blood pressure and improvement in blood vessel function. In addition, algae oil is utilised in the animal feed sector, for instance, in seafood farming, because of its high nutritional value compared to grain feed.
By grade, the market is divided into:
- Food Grade
- Feed Grade
- Fuel Grade
Based on application, the industry can be divided into:
- Biofuel
- Dietary Supplements
- Pharmaceuticals
- Animal Feed
- Food and Beverage
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Escalating Environmental Consciousness to Drive the Global Algae Oil Industry
The global algae oil industry is expected to witness a healthy growth in the forecast period due to the heightened environmental concerns, which, in turn, is resulting in increased demand for renewable and eco-friendly fuel resources. Algae oil is increasingly being used in biofuel production acclaimed for its low carbon footprint. Biofuel serves as an efficient and low sulphur-emitting alternative to fossil fuels. Furthermore, in the pharmaceutical segment, algae oil is an essential ingredient in the production and development of various end-products, including drugs, antiviral formulations, and antifungals. In addition, a growing shift towards a nutritional vegan diet is expected to be a compelling force in the overall expansion of the algae oil industry, as algae oil offers a vegan and gluten-free alternative to fish oil. However, some possible constraints such as the high cost of algae oil and the challenges associated with algae production, including required temperature and humidity conditions during the harvesting and cultivation process, may hamper the industry growth in the forecast period.
Key Industry Players in the Global Algae Oil Market
The report gives a detailed analysis of the following key players in the global algae oil market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Algae Floating Systems, Inc.
- Algae Production Systems
- Algatech Ltd.
- Algix LLC
- Cellana Inc.
- Pond Technologies Inc.
- Corbion N.V.
- Others
The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model and SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Grade, Application, Region |
| Breakup by Grade | Food Grade, Feed Grade, Fuel Grade |
| Breakup by Application | Biofuel, Dietary Supplements, Pharmaceuticals, Animal Feed, Food and Beverage |
| Breakup by Region | North America, Latin America, Europe, Middle East and Africa, Asia Pacific |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Price Analysis | Historical and Forecast Price Trends- Regional |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Algae Floating Systems, Inc., Algae Production Systems, Algatech Ltd., Algix LLC, Cellana Inc., Pond Technologies Inc., Corbion N.V., Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Algae Oil Market Analysis
8.1 Key Industry Highlights
8.2 Global Algae Oil Historical Market (2018-2023)
8.3 Global Algae Oil Market Forecast (2024-2032)
8.4 Global Algae Oil Market by Grade
8.4.1 Food Grade
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Feed Grade
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Fuel Grade
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.5 Global Algae Oil Market by Application
8.5.1 Biofuel
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Dietary Supplements
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Pharmaceuticals
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Animal Feed
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Food and Beverage
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
8.6 Global Algae Oil Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Algae Oil Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Algae Oil Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Algae Oil Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Algae Oil Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Algae Oil Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Price Analysis
16.1 North America Historical Price Trends (2018-2023) and Forecast (2024-2032)
16.2 Europe Historical Price Trends (2018-2023) and Forecast (2024-2032)
16.3 Asia Pacific Historical Price Trends (2018-2023) and Forecast (2024-2032)
16.4 Latin America Historical Price Trends (2018-2023) and Forecast (2024-2032)
16.5 Middle East and Africa Historical Price Trends (2018-2023) and Forecast (2024-2032)
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 Algae Floating Systems, Inc.
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 Algae Production Systems
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 Algatech Ltd.
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.4 Algix LLC
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 Cellana Inc.
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.6 Pond Technologies Inc.
17.2.6.1 Company Overview
17.2.6.2 Product Portfolio
17.2.6.3 Demographic Reach and Achievements
17.2.6.4 Certifications
17.2.7 Corbion N.V.
17.2.7.1 Company Overview
17.2.7.2 Product Portfolio
17.2.7.3 Demographic Reach and Achievements
17.2.7.4 Certifications
17.2.8 Others
18 Key Trends and Developments in the Market
Additional Customisations Available
1 Manufacturing Process
1.1 Overview
1.2 Detailed Process Flow
1.3 Operation Involved
2 Project Requirement and Cost Analysis
2.1 Land, Location and Site Development
2.2 Construction
2.3 Plant Machinery
2.4 Cost of Raw Material
2.5 Packaging
2.6 Transportation
2.7 Utilities
2.8 Manpower
2.9 Other Capital Investment
List of Key Figures and Tables
1. Global Algae Oil Market: Key Industry Highlights, 2018 and 2032
2. Global Algae Oil Historical Market: Breakup by Grade (USD Million), 2018-2023
3. Global Algae Oil Market Forecast: Breakup by Grade (USD Million), 2024-2032
4. Global Algae Oil Historical Market: Breakup by Application (USD Million), 2018-2023
5. Global Algae Oil Market Forecast: Breakup by Application (USD Million), 2024-2032
6. Global Algae Oil Historical Market: Breakup by Region (USD Million), 2018-2023
7. Global Algae Oil Market Forecast: Breakup by Region (USD Million), 2024-2032
8. North America Algae Oil Historical Market: Breakup by Country (USD Million), 2018-2023
9. North America Algae Oil Market Forecast: Breakup by Country (USD Million), 2024-2032
10. Europe Algae Oil Historical Market: Breakup by Country (USD Million), 2018-2023
11. Europe Algae Oil Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Asia Pacific Algae Oil Historical Market: Breakup by Country (USD Million), 2018-2023
13. Asia Pacific Algae Oil Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Latin America Algae Oil Historical Market: Breakup by Country (USD Million), 2018-2023
15. Latin America Algae Oil Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Middle East and Africa Algae Oil Historical Market: Breakup by Country (USD Million), 2018-2023
17. Middle East and Africa Algae Oil Market Forecast: Breakup by Country (USD Million), 2024-2032
18. North America Historical Price Trends and Forecast 2018-2028
19. Europe Historical Price Trends and Forecast 2018-2028
20. Asia Pacific Historical Price Trends and Forecast 2018-2028
21. Latin America Historical Price Trends and Forecast 2018-2028
22. Middle East and Africa Historical Price Trends and Forecast 2018-2028
23. Global Algae Oil Market Structure
Key Questions Answered in the Report
In 2023, the global algae oil market attained a value of nearly USD 1.83 billion.
The market is projected to grow at a CAGR of 4.10% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 2.63 billion by 2032.
The major drivers of the industry, such as the thriving food and beverages sector, rising disposable incomes, increasing population, rising health awareness, and growing demand for dietary supplements and vegan products, are expected to aid the market growth.
The key market trends guiding the growth of the industry include the growing applications of algae oil in the preparation of biofuel, favourable government initiatives, and increasing R&D activities.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant grades of algae oil are food grade, feed grade, and fuel grade.
The major applications of the product include biofuel, dietary supplements, pharmaceuticals, animal feed, and food and beverage.
The major players in the industry are Algae Floating Systems, Inc., Algae Production Systems, Algatech Ltd., Algix LLC, Cellana Inc., Pond Technologies Inc., and Corbion N.V., among others.
Analyst Review
The global algae oil market reached a value of nearly USD 1.83 billion in 2023, driven by the rising demand from the food and beverage industry. Aided by the rising R&D activities, the market is expected to witness a moderate growth in the forecast period of 2024-2032, growing at a CAGR of 4.10%. The market is projected to reach USD 2.63 billion by 2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on grade, the market is divided into food grade, fuel grade, and feed grade. On the basis of application, the industry is segmented into biofuel, dietary supplements, pharmaceuticals, animal feed, and food and beverage. The major regional markets for algae oil are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Algae Floating Systems, Inc., Algae Production Systems, Algatech Ltd., Algix LLC, Cellana Inc., Pond Technologies Inc., and Corbion N.V., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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