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.
Full Research Report On algae oil market Analysis:
http://www.grandviewresearch.com/industry-analysis/algae-oil-market
http://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.
View More Reports Of This Category By Grand View Research
At: https://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: https://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: https://www.grandviewresearch.com/