San Francisco, Oct 26 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.
Browse full research report on 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: 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
- U.S.
- Europe
- UK
- Germany
- Asia Pacific
- China
- India
- South &
Central America
- Brazil
- Middle East
and Africa
Browse press release of this report
by Grand View Research: 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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