Algal Oil Market Segmentation and Analysis by Revenue Forecast, consumption by Regional data, Development, Investigation, Growth -2022-2032

 One of the primary drivers driving the algal oil market growth is growing awareness of omega-3 fatty acid advantages, such as lowering the risk of cardiovascular disease (CVD) and encouraging low triglyceride levels.

According to Future Market Insights (FMI), the sales of algae oil are expected to surpass a value of US$ 3.1 Bn in 2032, rising at a CAGR of around 4.7% by the end of 2032.

Furthermore, omega-3 fatty acids are often derived from animal sources, the growing trend of veganism is fueling the demand in the market. Besides this, numerous food companies are offering algae oil-fortified juices, cooking oils, milk, nutrition bars, yogurts, marinades, salad dressings, and other goods.

Further, increased demand for dietary supplements due to surging awareness of weight management is also a major factor driving algae oil market. As per FMI, the demand for biofuels due to their lower carbon footprint will also facilitate the growth in algal oil market over the forecast period.

Key Takeaways from the Algae Oil Market Study

  • In terms of grade, the feed grade segment is expected to dominate the global algal oil market over the forecast period.
  • Based on sales channel, online segment is projected to lead the algae oil market during the assessment period.
  • In 2021, the biofuel and dietary supplement application segments combined accounted for almost 60% of the share of global sales.
  • China is expected to lead the growth in East Asia algae oil market on the back of expansion of food & beverage industry.
  • In application category, the biofuel section is predicted to exhibit strong growth at a CAGR of 5.8% between 2022 and 2032

“Key players are investing extensively in research and development (R&D) in order to introduce new products and gain a competitive advantage. Companies are also pursuing strategies such as collaboration, acquisitions, mergers, and partnerships in order to extend their client base and increase revenues.” said a lead analyst at FMI.

Who is winning?

Key players operating in the global algae oil market are focusing on reaching a large consumer base by implementing various strategies such as product innovations, marketing & promotional activity, strengthening distribution channels, and adopting sustainable production.

Some of the leading companies offering algal oil are Algae Floating Systems, Inc., Cargill, Algae Production Systems, Lonza Group, Algatech Ltd., Seaweed Energy Solutions, Royal DSM, Algix LLC, Cyanotech, Pond Technologies Inc., and others.

Get Valuable Insights into Algae Oil Market 

FMI, in its new offering, provides an unbiased analysis of algal oil presenting historical demand data (2017-2022) and forecast statistics for the period from (2022-2032). The study divulges compelling insights on the demand for algae oil based on the by grade (feed grade, food grade, and fuel grade), by application (food & beverages, animal feed, dietary supplements, pharmaceuticals, personal care, biofuels, and others), and sales channel (direct sales, hyper/supermarket, specialty stores, online, and other retail formats) across five major regions.

About the Food & Beverage Division at Future Market Insights

Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.

Main Report Link: https://www.futuremarketinsights.com/reports/algae-oil-market

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