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Global Algae Oil Market: By Grade: Food Grade, Feed Grade, Fuel Grade; By Application: Biofuel, Dietary Supplements, Pharmaceuticals, Animal Feed, Food and Beverage; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Value Chain Analysis; Competitive Landscape; Industry Events and Developments

Global Algae Oil Market Outlook

The global algae oil market stood at a value of around USD 1.63 billion in 2020. The market is further expected to grow at a CAGR of 4% in the forecast period of 2023-2028 to attain a value of nearly USD 2.07 billion by 2026.

 

Algae Oil Market

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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.

 

Algae Oil Market by Application

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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.

 

Algae Oil Market by Region

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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 2022
Historical Period 2018-2022
Forecast Period 2023-2028
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 (2018-2022) 
    8.3    Global Algae Oil Market Forecast (2023-2028)
    8.4    Global Algae Oil Market by Grade
        8.4.1    Food Grade
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2022)
            8.4.1.3    Forecast Trend (2023-2028)
        8.4.2    Feed Grade
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2022)
            8.4.2.3    Forecast Trend (2023-2028)
        8.4.3    Fuel Grade
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2018-2022)
            8.4.3.3    Forecast Trend (2023-2028)
    8.5    Global Algae Oil Market by Application
        8.5.1    Biofuel
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2022)
            8.5.1.3    Forecast Trend (2023-2028)
        8.5.2    Dietary Supplements
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2022)
            8.5.2.3    Forecast Trend (2023-2028)
        8.5.3    Pharmaceuticals
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2018-2022)
            8.5.3.3    Forecast Trend (2023-2028)
        8.5.4    Animal Feed 
            8.5.4.1    Market Share
            8.5.4.2    Historical Trend (2018-2022)
            8.5.4.3    Forecast Trend (2023-2028)
        8.5.5    Food and Beverage
            8.5.5.1    Market Share
            8.5.5.2    Historical Trend (2018-2022)
            8.5.5.3    Forecast Trend (2023-2028) 
    8.6    Global Algae Oil Market by Region
        8.6.1    North America
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2022)
            8.6.1.3    Forecast Trend (2023-2028)
        8.6.2    Europe
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2022)
            8.6.2.3    Forecast Trend (2023-2028)
        8.6.3    Asia Pacific
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2018-2022)
            8.6.3.3    Forecast Trend (2023-2028)
        8.6.4    Latin America
            8.6.4.1    Market Share
            8.6.4.2    Historical Trend (2018-2022)
            8.6.4.3    Forecast Trend (2023-2028)
        8.6.5    Middle East and Africa
            8.6.5.1    Market Share
            8.6.5.2    Historical Trend (2018-2022)
            8.6.5.3    Forecast Trend (2023-2028)
9    North America Algae Oil Market Analysis
    9.1    United States of America
        9.1.1    Market Share
        9.1.2    Historical Trend (2018-2022)
        9.1.3    Forecast Trend (2023-2028)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2018-2022)
        9.2.3    Forecast Trend (2023-2028)
10    Europe Algae Oil Market Analysis
    10.1    United Kingdom
        10.1.1    Market Share
        10.1.2    Historical Trend (2018-2022)
        10.1.3    Forecast Trend (2023-2028)
    10.2    Germany
        10.2.1    Market Share
        10.2.2    Historical Trend (2018-2022)
        10.2.3    Forecast Trend (2023-2028)
    10.3    France
        10.3.1    Market Share
        10.3.2    Historical Trend (2018-2022)
        10.3.3    Forecast Trend (2023-2028)
    10.4    Italy
        10.4.1    Market Share
        10.4.2    Historical Trend (2018-2022)
        10.4.3    Forecast Trend (2023-2028)
    10.5    Others
11    Asia Pacific Algae Oil Market Analysis
    11.1    China
        11.1.1    Market Share
        11.1.2    Historical Trend (2018-2022)
        11.1.3    Forecast Trend (2023-2028)
    11.2    Japan
        11.2.1    Market Share
        11.2.2    Historical Trend (2018-2022)
        11.2.3    Forecast Trend (2023-2028)
    11.3    India
        11.3.1    Market Share
        11.3.2    Historical Trend (2018-2022)
        11.3.3    Forecast Trend (2023-2028)
    11.4    ASEAN
        11.4.1    Market Share
        11.4.2    Historical Trend (2018-2022)
        11.4.3    Forecast Trend (2023-2028)
    11.5    Australia
        11.5.1    Market Share
        11.5.2    Historical Trend (2018-2022)
        11.5.3    Forecast Trend (2023-2028)
    11.6    Others
12    Latin America Algae Oil Market Analysis
    12.1    Brazil
        12.1.1    Market Share
        12.1.2    Historical Trend (2018-2022)
        12.1.3    Forecast Trend (2023-2028)
    12.2    Argentina
        12.2.1    Market Share
        12.2.2    Historical Trend (2018-2022)
        12.2.3    Forecast Trend (2023-2028)
    12.3    Mexico
        12.3.1    Market Share
        12.3.2    Historical Trend (2018-2022)
        12.3.3    Forecast Trend (2023-2028)
    12.4    Others
13    Middle East and Africa Algae Oil Market Analysis
    13.1    Saudi Arabia
        13.1.1    Market Share
        13.1.2    Historical Trend (2018-2022)
        13.1.3    Forecast Trend (2023-2028)
    13.2    United Arab Emirates
        13.2.1    Market Share
        13.2.2    Historical Trend (2018-2022)
        13.2.3    Forecast Trend (2023-2028)
    13.3    Nigeria
        13.3.1    Market Share
        13.3.2    Historical Trend (2018-2022)
        13.3.3    Forecast Trend (2023-2028)
    13.4    South Africa
        13.4.1    Market Share
        13.4.2    Historical Trend (2018-2022)
        13.4.3    Forecast Trend (2023-2028)
    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 (2018-2022) and Forecast (2023-2028)
    16.2    Europe Historical Price Trends (2018-2022) and Forecast (2023-2028)
    16.3    Asia Pacific Historical Price Trends (2018-2022) and Forecast (2023-2028)
    16.4    Latin America Historical Price Trends (2018-2022) and Forecast (2023-2028)
    16.5    Middle East and Africa Historical Price Trends (2018-2022) and Forecast (2023-2028)
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 2028
2.    Global Algae Oil Historical Market: Breakup by Grade (USD Million), 2018-2022
3.    Global Algae Oil Market Forecast: Breakup by Grade (USD Million), 2023-2028
4.    Global Algae Oil Historical Market: Breakup by Application (USD Million), 2018-2022
5.    Global Algae Oil Market Forecast: Breakup by Application (USD Million), 2023-2028
6.    Global Algae Oil Historical Market: Breakup by Region (USD Million), 2018-2022
7.    Global Algae Oil Market Forecast: Breakup by Region (USD Million), 2023-2028
8.    North America Algae Oil Historical Market: Breakup by Country (USD Million), 2018-2022
9.    North America Algae Oil Market Forecast: Breakup by Country (USD Million), 2023-2028
10.    Europe Algae Oil Historical Market: Breakup by Country (USD Million), 2018-2022
11.    Europe Algae Oil Market Forecast: Breakup by Country (USD Million), 2023-2028
12.    Asia Pacific Algae Oil Historical Market: Breakup by Country (USD Million), 2018-2022
13.    Asia Pacific Algae Oil Market Forecast: Breakup by Country (USD Million), 2023-2028
14.    Latin America Algae Oil Historical Market: Breakup by Country (USD Million), 2018-2022
15.    Latin America Algae Oil Market Forecast: Breakup by Country (USD Million), 2023-2028
16.    Middle East and Africa Algae Oil Historical Market: Breakup by Country (USD Million), 2018-2022
17.    Middle East and Africa Algae Oil Market Forecast: Breakup by Country (USD Million), 2023-2028
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 2020, the global algae oil market attained a value of nearly USD 1.63 billion.

The market is projected to grow at a CAGR of 4% between 2021 and 2026.

The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach USD 2.07 billion by 2026.

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 1.63 billion in 2020, 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 2023-2028, growing at a CAGR of 4%. The market is projected to reach USD 2.07 billion by 2026.

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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