The global algae oil market is expected to reach USD $2.09 billion by 2025,
according to a new report by Grand View Research, Inc. Rising algae oil use in
biofuel applications such as biodiesel, jet fuel, aviation fuel, and gasoline,
will augment growth over the next nine years.
The algae oil is being
employed in food & beverage applications as a natural source of omega-3,
fatty acids, antioxidants, and proteins. Rising demand from the food &
beverage sector on account of its low fat content is expected to have positive
impact on the market. Growing awareness about the naturally obtained
supplements is expected to fuel its demand in the dietary supplement market
which in turn will fuel the overall market growth.
Rising demand from the
animal feed sector can be attributed to its higher nutritional content as
compared to the grain feed. The algae production & harvesting requires
comparatively lower amount of water & land as compared to the land crops
grown for animal feed. These factors would cumulatively drive the market from
2015 to 2025.
However, the higher
price of algae oil than conventional oil may challenge the market growth over
the forecast period. Apart from this, specific parameters required for the
growth of algae, which imply a high production cost, results in increased
product price. These factors may restrain the industry development over the
forecast period.
Access Research Report of Algae Oil Market@ www.grandviewresearch.com/industry-analysis/algae-oil-market
Further key findings from the report suggest:
· The global market is expected to grow at a
CAGR of 4.3% from 2016 to 2025 on account of increasing use in the biofuel
application
· Food & beverage as an application of
the algae oil will witness fastest growth in terms of revenue at a CAGR of over
5.0% from 2016 to 2024 owing to its use as natural source of omega-3
· North America market is expected to witness
significant development and was estimated at over USD 465 million in 2015 on
account of rising demand from the food and beverage sector
· Key participants include TerraVia Holdings,
Inc, Diversified Energy Corporation, Algix, LLC, and Cellana Inc. Key companies
are focused on providing algae oil at affordable pricing structure to increase
their global presence
· In January 2017, TerraVia Holdings, Inc
obtained approval for Whole Algal Protein ingredient for food use in Canada and
this regulatory approval would enable the company to sell its various algae
food products across North America.
Grand View Research has
segmented the global algae oil market on the basis of grade, application and
region:
Algae Oil Market, Grade Outlook (Volume, Gallons;
Revenue, USD Million, 2014 - 2025)
·
Fuel Grade
·
Food Grade
·
Feed Grade
Algae Oil Market, Application Outlook (Volume, Gallons;
Revenue, USD Million, 2014 - 2025)
·
Biofuel
·
Dietary Supplement
·
Food & Beverage
·
Animal Feed
Algae Oil Market, Regional Outlook (Volume, Gallons,
Revenue, USD Million, 2014 - 2025)
·
North America
o
U.S.
·
Europe
o
UK
o
Germany
·
Asia Pacific
o
China
o
India
·
South & Central America
o
Brazil
·
Middle East and Africa
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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