Algae Oil Market to Reach US$ 2.40 Billion by 2027 | Cellana Inc, Corbion N.V

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. 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.

Algae oil is an odorless, plant-based liquid which is produced by collecting, extracting, and mechanically pressing aquatic algae. It is enriched with monounsaturated fatty acids (MUFA) and several omega-3 fatty acids, including eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA). These nutrients lower the risk of cardiovascular diseases (CVDs), regulate heartbeat, decrease inflammation, and improve eyesight and cognitive growth. Moreover, algal oil is safer to use and tastes better than fish oil, with fewer digestive side effects; thus, it is widely utilized as a cooking oil and a vital ingredient in animal feed, infant formula.

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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Global Algae Oil Market Trends:

The growing demand for EPA/DHA-based algae omega-3 in newborn formulations that support bone and skin health and promote brain development is primarily driving the market growth. Moreover, the rapid expansion in the food and beverage (F&B) vertical and the rising consumption of ready-to-eat (RTE) are fueling the incorporation of algae oil as a stabilizer to improve the physical and chemical properties of food items. Moreover, the widespread product usage in diverse applications on account of escalating consumer awareness regarding its nutritious characteristics is influencing the market growth. Additionally, the implementation of green programs by governments to minimize greenhouse gas (GHG) emissions has encouraged the market adoption of algae-based biofuel as a sustainable alternative to reduce carbon emissions, which is favoring the market growth. Besides this, the extensive utilization of algae oil to produce multiple antivirals, antifungals, therapeutic proteins, and antimicrobials as they exhibit pharmacologically active substances is contributing to the market growth.

Key Market Segmentation:

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).

Based On Grade:

Fuel Grade
Food Grade
Feed Grade

Based On Distribution Channel:

Direct Sales
Supermarkets and Hypermarkets
Specialty Stores
Pharmacy
Online

Based On Application:

Biofuel
Food and Beverage
Animal Feed
Others

Based On Region:

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
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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