San
Francisco, 25 October 2018 , The global algaeoil 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.
Full Research Report On Algae
Oil Market Analysis:
www.grandviewresearch.com/industry-analysis/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.
Browse More Reports Of This Category By Grand View Research At: www.grandviewresearch.com/industry/renewable-chemicals
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
Access Full Press
Release of this Report:
www.grandviewresearch.com/press-release/global-algae-oil-market
www.grandviewresearch.com/press-release/global-algae-oil-market
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.
For more
information: www.grandviewresearch.com/
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