Algae Oil Market is Expected to Reach USD 1.87 billion by 2023: Some Major Players are Diversified Energy Corporation, Cellana, TerraVia and Algix

Industry Outlook and Trend Analysis
The Algae Oil Market was worth USD 1.28 billion in 2014 and is anticipated to reach approximately USD 1.87 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 4.35% during the forecast period. The algae oil would be a lucrative investment option as it provides a solution for depleting fossil fuels. The market demand has been increasing in dietary supplement and food & beverage industry by virtue of its expanding use as phycocyanin, proteins, omega-3 fatty acids, antioxidants, and others. The rising requirement of natural products in dietary supplement industry has driven the requirement for plant-based health supplements and is foreseen to push development of the market throughout the following years. It is useful as specialty oil in the food industry attributable to low content of saturated and Trans fats, making it a healthy option.

Competitive Insights
The major players in the market are Diversified Energy Corporation, Cellana, TerraVia and Algix. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.

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Grade Outlook and Trend Analysis
The fuel grade segment was esteemed at USD 779.2 million of every 2015 and is expected to grow significantly amid the following years. The fuel grade was the biggest portion by volume representing over 57% of the worldwide market in 2015. It is used in the manufacturing of biofuel which incorporates jet fuel, gasoline, biodiesel, and others. Different natural advantages of the product incorporate lower less greenhouse gas emissions, lower carbon footprint, and consume carbon dioxide. Consequently, unique evaluations of algae oil are anticipated to witness critical development over the conjecture time frame.

Application Outlook and Trend Analysis
Animal feed was evaluated as the second biggest application portion representing more than 27% of the worldwide volume in 2015. The existence of micronutrients and proteins as essential elements of animal feed acquired from algae oil is anticipated to boost its demand throughout the following years. Food & beverage application was evaluated at over USD 150 million out of 2015. It can be used as a part of the generation of different kinds of edible oil items.

Regional Outlook and Trend Analysis
The U.S. represented the more than 80% of the North America market volume in 2015 by virtue of rising need from the biofuel application section. The innovative usage of harvesting and cultivation technology to give quality algae oil according to the fuel industry requirement is anticipated to positively affect the business over the following years. Request in Asia Pacific was esteemed at over USD 300 million in 2015.

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The Algae Oil Market is segmented as follows-
By Grade:
Food Grade
Fuel Grade
Feed Grade

By Application:
Animal Feed
Biofuel
Food & Beverage
Dietary Supplement

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