PUBLISHER: Persistence Market Research | PRODUCT CODE: 1475890
PUBLISHER: Persistence Market Research | PRODUCT CODE: 1475890
Algal Oil Market by Geography (North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa): Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2024-2031
Persistence Market Research has released a detailed report on the global Algal Oil Market, offering a comprehensive analysis of market dynamics, growth drivers, challenges, and emerging trends. This report provides key insights to stakeholders, focusing on market projections from 2024 to 2031, alongside historical data and statistical information, to support strategic planning and informed decision-making.
The global algal oil market is anticipated to grow substantially during the forecast period, with a projected CAGR of 6.2% from 2024 to 2031. The market is expected to increase from an estimated value of USD 150.4 million in 2024 to USD 229.1 million by the end of 2031.
Key Insights:
- Estimated Market Value (2024): USD 150.4 million
- Projected Market Value (2031): USD 229.1 million
- Global Market Growth Rate (CAGR 2024 to 2031): 6.2%
Algal Oil Market - Report Scope:
Algal oil, derived from algae, is gaining traction due to its health benefits and sustainability. It is rich in omega-3 fatty acids, particularly DHA (docosahexaenoic acid), making it an appealing alternative to fish oil. Algal oil production is considered environmentally friendly, with a lower carbon footprint compared to traditional sources of omega-3. The versatility of algal oil, used in dietary supplements, food and beverages, pharmaceuticals, and cosmetics, is a key driver of its market growth. Additionally, the vegan and vegetarian segments favor algal oil over animal-based sources, further driving demand.
Market Growth Drivers:
The growth of the algal oil market is fueled by rising health awareness and a shift toward plant-based products. Consumers are increasingly adopting plant-based diets, driving demand for algal oil as an alternative to fish-derived oils. The growing body of evidence supporting the health benefits of omega-3 fatty acids has led to a surge in demand for algal oil in dietary supplements and functional foods. Additionally, the sustainability of algal oil production aligns with the global movement toward eco-friendly practices, attracting environmentally conscious consumers and businesses.
Market Restraints:
Despite its positive outlook, the algal oil market faces several challenges. The high production cost of algal oil compared to fish oil is a significant barrier to wider adoption. Additionally, algal oil production requires specialized facilities and technology, leading to a limited number of manufacturers and potential supply chain issues. Regulatory hurdles and varying standards across different regions can further complicate market expansion. Finally, consumer awareness about algal oil is still in the early stages, necessitating education and marketing efforts to increase market penetration.
Market Opportunities:
The algal oil market presents various opportunities for growth and innovation. As consumer interest in plant-based and sustainable products increases, companies can focus on expanding their product lines with algal oil-based offerings. Partnerships with health and wellness influencers can raise awareness about the benefits of algal oil, driving consumer demand. Technological advancements in algal oil production could lead to reduced costs, making it more accessible to a broader audience. Additionally, expanding distribution networks and targeting emerging markets can further enhance market growth.
Key Questions Addressed in the Report:
- What is the Expected Value CAGR of the Algal Oil Market?
- What are the Key Factors Driving the Growth of the Algal Oil Market?
- Which Region Holds the Largest Market Share in the Algal Oil Market?
- Who are the Key Players in the Global Algal Oil Market?
- What Challenges Does the Algal Oil Market Face in Its Expansion?
Competitive Landscape and Business Strategies:
Leading players in the algal oil market include DSM, Corbion, Cellana, Inc., and TerraVia Holdings. These companies focus on innovation, research, and development to maintain their competitive edge. Strategic partnerships and collaborations with other industry players allow these companies to broaden their market reach and enhance product offerings. Investments in sustainable production methods and advanced technology are also key strategies to ensure long-term growth and compliance with environmental regulations.
Key Companies Profiled:
- Archer Daniels Midland
- Arizona Algal Products, LLC
- AlgiSys LLC
- Algalr NutraPharms Pvt. Ltd.
- Corbion
- Algarithm
- Progress Biotech
- DSM
- Bioriginal Food & Science Corp.
Algal Oil Market Segmentation:
Algal Oil Market by Grade:
- Food Grade Algal Oil
- Feed Grade Algal Oil
- Fuel Grade Algal Oil
Algal Oil Market by Nature:
- Organic Algal Oil
- Conventional Algal Oil
Algal Oil Market by Application:
- Food and Beverages
- Personal Care and Cosmetics
- Pharmaceuticals
- Animal Feed
- Nutraceuticals
- Biofuels
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Table of Contents
1. Executive Summary
- 1.1. Global Market Outlook
- 1.2. Market Viewpoints
- 1.3. Analysis and Recommendations
2. Market Overview
- 2.1. Market Coverage / Taxonomy
- 2.2. Market Definition / Scope / Limitations
3. Key Market Trends
- 3.1. Increasing Plant-Based Ingredients Usage to Enhance the Market Growth.
- 3.2. Increase in demand for Innovative Algae Strains in the Market
4. Key Success Factors
- 4.1. Product USPs
- 4.2. Product Features
5. Global Algal Oil Market Demand Analysis 2019-2023 and Forecast, 2024-2031
- 5.1. Historical Market Value & Volume (Metric Tons) Analysis, 2019-2023
- 5.2. Current and Future Market Volume (Metric Tons) Projections, 2024-2031
- 5.2.1. Y-o-Y Growth Trend Analysis
- 5.2.2. Absolute $ Opportunity Analysis
6. Global Algal Oil Market - Pricing Analysis
- 6.1. Regional Pricing Analysis By Nature
- 6.2. Pricing Break-up
- 6.2.1. Manufacturer Level Pricing
- 6.2.2. Distributor Level Pricing
7. Market Background
- 7.1. Impact of COVID-19 on Animal Feed Additive Market
- 7.2. Impact of COVID-19 on Food & beverage Industry
- 7.3. COVID-19 Impact on Algal Oil Market
- 7.4. Global Food & Beverage Industry Overview
- 7.5. Global Pharmaceutical Industry Overview
- 7.6. Global Nutraceutical Industry Overview
- 7.7. Global Organic Agriculture Land Outlook
- 7.8. Global Feed Industry Overview
- 7.9. Impact of COVID-19 on Nutraceutical Industry
- 7.10. Production Overview of Algal
- 7.11. Macro-Economic Factors
- 7.11.1. Global Economic Outlook
- 7.11.2. Global Urbanization Outlook
- 7.11.3. Global Food Security Index
- 7.11.4. Final Consumption Expenditure
- 7.11.5. Global Rank - Ease of Doing Business Rank
- 7.11.6. Global Rank - Trading Across Borders
- 7.12. Covid-19 Risk Assessment/Impact
- 7.13. Industry Value and Supply Chain Analysis
- 7.13.1. Profit Margin Analysis at each point of sales
- 7.13.1.1. Algal Oil Processors
- 7.13.1.2. Distributors/Suppliers/Wholesalers
- 7.13.1.3. Traders/Retailers
- 7.13.1.4. End-Users
- 7.13.1. Profit Margin Analysis at each point of sales
- 7.14. Key Regulations
- 7.15. Market Dynamics
- 7.15.1. Drivers
- 7.15.2. Restraints
- 7.15.3. Opportunity Analysis
- 7.16. Forecast Factors - Relevance & Impact
8. Global Algal Oil Market Analysis 2019-2023 and Forecast 2024-2031, By Grade
- 8.1. Introduction / Key Findings
- 8.2. Historical Market Size (US$ Mn) and Volume Analysis By Grade, 2019 - 2023
- 8.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By Grade, 2024-2031
- 8.3.1. Food
- 8.3.2. Feed
- 8.3.3. Fuel
- 8.4. Market Attractiveness Analysis By Grade
9. Global Algal Oil Market Analysis 2019-2023 and Forecast 2024-2031, By Nature
- 9.1. Introduction / Key Findings
- 9.2. Historical Market Size (US$ Mn) and Volume Analysis By Nature, 2019 - 2023
- 9.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By Nature, 2024-2031
- 9.3.1. Organic
- 9.3.2. Conventional
- 9.4. Market Attractiveness Analysis By Nature
10. Global Algal Oil Market Analysis 2019-2023 and Forecast 2024-2031, By Application
- 10.1. Introduction / Key Findings
- 10.2. Historical Market Size (US$ Mn) and Volume Analysis By Application, 2019 - 2023
- 10.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By Application, 2024-2031
- 10.3.1. Food & beverage Industry
- 10.3.2. Personal Care & Cosmetics
- 10.3.3. Pharmaceutical Industry
- 10.3.4. Animal Feed
- 10.3.5. Nutraceuticals
- 10.3.6. Biofuels
- 10.4. Market Attractiveness Analysis By Application
11. Global Algal Oil Market Analysis 2019-2023 and Forecast 2024-2031, By Region
- 11.1. Introduction
- 11.2. Historical Market Size (US$ Mn) and Volume Analysis By Region, 2019 - 2023
- 11.3. Current Market Size (US$ Mn) and Volume Analysis and Forecast By Region, 2024-2031
- 11.3.1. North America
- 11.3.2. Latin America
- 11.3.3. Europe
- 11.3.4. South Asia & Pacific
- 11.3.5. East Asia
- 11.3.6. Middle East and Africa (MEA)
- 11.4. Market Attractiveness Analysis By Region
12. North America Algal Oil Market Analysis 2019-2023 and Forecast 2024-2031
- 12.1. Introduction
- 12.2. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2019 - 2023
- 12.3. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2024-2031
- 12.3.1. By Country
- 12.3.1.1. U.S.
- 12.3.1.2. Canada
- 12.3.2. By Grade
- 12.3.3. By Nature
- 12.3.4. By Application
- 12.3.1. By Country
- 12.4. Market Attractiveness Analysis
- 12.4.1. By Country
- 12.4.2. By Grade
- 12.4.3. By Nature
- 12.4.4. By Application
- 12.5. Drivers and Restraints - Impact Analysis
13. Latin America Algal Oil Market Analysis 2019-2023 and Forecast 2024-2031
- 13.1. Introduction
- 13.2. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2019 - 2023
- 13.3. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2024-2031
- 13.3.1. By Country
- 13.3.1.1. Brazil
- 13.3.1.2. Mexico
- 13.3.1.3. Rest of Latin America
- 13.3.2. By Grade
- 13.3.3. By Nature
- 13.3.4. By Application
- 13.3.1. By Country
- 13.4. Market Attractiveness Analysis
- 13.4.1. By Country
- 13.4.2. By Grade
- 13.4.3. By Nature
- 13.4.4. By Application
- 13.5. Drivers and Restraints - Impact Analysis
14. Europe Algal Oil Market Analysis 2019-2023 and Forecast 2024-2031
- 14.1. Introduction
- 14.2. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2019 - 2023
- 14.3. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2024-2031
- 14.3.1. By Country
- 14.3.1.1. Germany
- 14.3.1.2. UK
- 14.3.1.3. France
- 14.3.1.4. Italy
- 14.3.1.5. Spain
- 14.3.1.6. BENELUX
- 14.3.1.7. Nordic
- 14.3.1.8. Russia
- 14.3.1.9. Poland
- 14.3.1.10. Rest of Europe
- 14.3.2. By Grade
- 14.3.3. By Nature
- 14.3.4. By Application
- 14.3.1. By Country
- 14.4. Market Attractiveness Analysis
- 14.4.1. By Country
- 14.4.2. By Grade
- 14.4.3. By Nature
- 14.4.4. By Application
- 14.5. Drivers and Restraints - Impact Analysis
15. South Asia & Pacific Algal Oil Market Analysis 2019-2023 and Forecast 2024-2031
- 15.1. Introduction
- 15.2. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2019 - 2023
- 15.3. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2024-2031
- 15.3.1. By Country
- 15.3.1.1. India
- 15.3.1.2. ASEAN
- 15.3.1.3. Oceania
- 15.3.1.4. Rest of South Asia & Pacific
- 15.3.2. By Grade
- 15.3.3. By Nature
- 15.3.4. By Application
- 15.3.1. By Country
- 15.4. Market Attractiveness Analysis
- 15.4.1. By Country
- 15.4.2. By Grade
- 15.4.3. By Nature
- 15.4.4. By Application
- 15.5. Drivers and Restraints - Impact Analysis
16. East Asia Algal Oil Market Analysis 2019-2023 and Forecast 2024-2031
- 16.1. Introduction
- 16.2. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2019 - 2023
- 16.3. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2024-2031
- 16.3.1. By Country
- 16.3.1.1. China
- 16.3.1.2. South Korea
- 16.3.1.3. Japan
- 16.3.2. By Grade
- 16.3.3. By Nature
- 16.3.4. By Application
- 16.3.1. By Country
- 16.4. Market Attractiveness Analysis
- 16.4.1. By Country
- 16.4.2. By Grade
- 16.4.3. By Nature
- 16.4.4. By Application
- 16.5. Drivers and Restraints - Impact Analysis
17. Middle East and Africa Algal Oil Market Analysis 2019-2023 and Forecast 2024-2031
- 17.1. Introduction
- 17.2. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2019 - 2023
- 17.3. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2024-2031
- 17.3.1. By Country
- 17.3.1.1. GCC
- 17.3.1.2. Turkey
- 17.3.1.3. South Africa
- 17.3.1.4. Rest of MEA
- 17.3.2. By Grade
- 17.3.3. By Nature
- 17.3.4. By Application
- 17.3.1. By Country
- 17.4. Market Attractiveness Analysis
- 17.4.1. By Country
- 17.4.2. By Grade
- 17.4.3. By Nature
- 17.4.4. By Application
- 17.5. Drivers and Restraints - Impact Analysis
18. Country Wise Algal Oil Market Analysis, 2023
- 18.1. Introduction
- 18.1.1. Market Value Proportion Analysis, By Key Countries
- 18.1.2. Global Vs. Country Growth Comparison
- 18.2. U.S. Algal Oil Market Analysis
- 18.2.1. By Grade
- 18.2.2. By Nature
- 18.2.3. By Application
- 18.3. Canada Algal Oil Market Analysis
- 18.3.1. By Grade
- 18.3.2. By Nature
- 18.3.3. By Application
- 18.4. Brazil Algal Oil Market Analysis
- 18.4.1. By Grade
- 18.4.2. By Nature
- 18.4.3. By Application
- 18.5. Mexico Algal Oil Market Analysis
- 18.5.1. By Grade
- 18.5.2. By Nature
- 18.5.3. By Application
- 18.6. Germany Algal Oil Market Analysis
- 18.6.1. By Grade
- 18.6.2. By Nature
- 18.6.3. By Application
- 18.7. Italy Algal Oil Market Analysis
- 18.7.1. By Grade
- 18.7.2. By Nature
- 18.7.3. By Application
- 18.8. France Algal Oil Market Analysis
- 18.8.1. By Grade
- 18.8.2. By Nature
- 18.8.3. By Application
- 18.9. U.K. Algal Oil Market Analysis
- 18.9.1. By Grade
- 18.9.2. By Nature
- 18.9.3. By Application
- 18.10. Spain Algal Oil Market Analysis
- 18.10.1. By Grade
- 18.10.2. By Nature
- 18.10.3. By Application
- 18.11. Russia Algal Oil Market Analysis
- 18.11.1. By Grade
- 18.11.2. By Nature
- 18.11.3. By Application
- 18.12. Poland Algal Oil Market Analysis
- 18.12.1. By Grade
- 18.12.2. By Nature
- 18.12.3. By Application
- 18.13. China Algal Oil Market Analysis
- 18.13.1. By Grade
- 18.13.2. By Nature
- 18.13.3. By Application
- 18.14. Japan Algal Oil Market Analysis
- 18.14.1. By Grade
- 18.14.2. By Nature
- 18.14.3. By Application
- 18.15. South Korea Algal Oil Market Analysis
- 18.15.1. By Grade
- 18.15.2. By Nature
- 18.15.3. By Application
- 18.16. India Algal Oil Market Analysis
- 18.16.1. By Grade
- 18.16.2. By Nature
- 18.16.3. By Application
- 18.17. Turkey Algal Oil Market Analysis
- 18.17.1. By Grade
- 18.17.2. By Nature
- 18.17.3. By Application
- 18.18. South Africa Algal Oil Market Analysis
- 18.18.1. By Grade
- 18.18.2. By Nature
- 18.18.3. By Application
19. Market Structure Analysis
- 19.1. Market Analysis By Tier of Companies
- 19.2. Market Concentration
- 19.3. Market Presence Analysis
20. Competition Analysis
- 20.1. Competition Dashboard
- 20.2. Competition Benchmarking
- 20.3. Competition Deep Dive
- 20.3.1. Archer Daniels Midland Company (ADM)
- 20.3.1.1. Overview
- 20.3.1.2. Product Portfolio
- 20.3.1.3. Key Developments
- 20.3.1.4. Strategy Overview
- 20.3.2. Royal DSM
- 20.3.2.1. Overview
- 20.3.2.2. Product Portfolio
- 20.3.2.3. Key Developments
- 20.3.2.4. Strategy Overview
- 20.3.3. Arizona Algal Products, LLC
- 20.3.3.1. Overview
- 20.3.3.2. Product Portfolio
- 20.3.3.3. Key Developments
- 20.3.3.4. Strategy Overview
- 20.3.4. AlgiSys LLC
- 20.3.4.1. Overview
- 20.3.4.2. Product Portfolio
- 20.3.4.3. Key Developments
- 20.3.4.4. Strategy Overview
- 20.3.5. Algalr NutraPharms Pvt. Ltd.
- 20.3.5.1. Overview
- 20.3.5.2. Product Portfolio
- 20.3.5.3. Key Developments
- 20.3.5.4. Strategy Overview
- 20.3.6. Corbion
- 20.3.6.1. Overview
- 20.3.6.2. Product Portfolio
- 20.3.6.3. Key Developments
- 20.3.6.4. Strategy Overview
- 20.3.7. Algarithm
- 20.3.7.1. Overview
- 20.3.7.2. Product Portfolio
- 20.3.7.3. Key Developments
- 20.3.7.4. Strategy Overview
- 20.3.8. Progress Biotech
- 20.3.8.1. Overview
- 20.3.8.2. Product Portfolio
- 20.3.8.3. Key Developments
- 20.3.8.4. Strategy Overview
- 20.3.9. Bioriginal Food & Science Corp.
- 20.3.9.1. Overview
- 20.3.9.2. Product Portfolio
- 20.3.9.3. Key Developments
- 20.3.9.4. Strategy Overview
- 20.3.10. Lyxia Corporation
- 20.3.10.1. Overview
- 20.3.10.2. Product Portfolio
- 20.3.10.3. Key Developments
- 20.3.10.4. Strategy Overview
- 20.3.11. Amandean. LLC.
- 20.3.11.1. Overview
- 20.3.11.2. Product Portfolio
- 20.3.11.3. Key Developments
- 20.3.11.4. Strategy Overview
- 20.3.12. Polaris
- 20.3.12.1. Overview
- 20.3.12.2. Product Portfolio
- 20.3.12.3. Key Developments
- 20.3.12.4. Strategy Overview
- 20.3.13. Inlife Care
- 20.3.13.1. Overview
- 20.3.13.2. Product Portfolio
- 20.3.13.3. Key Developments
- 20.3.13.4. Strategy Overview
- 20.3.14. Kauffman's
- 20.3.14.1. Overview
- 20.3.14.2. Product Portfolio
- 20.3.14.3. Key Developments
- 20.3.14.4. Strategy Overview
- 20.3.15. Meteoric Biopharmaceuticals Pvt. Ltd.
- 20.3.15.1. Overview
- 20.3.15.2. Product Portfolio
- 20.3.15.3. Key Developments
- 20.3.15.4. Strategy Overview
- 20.3.16. Mara Corp.
- 20.3.16.1. Overview
- 20.3.16.2. Product Portfolio
- 20.3.16.3. Key Developments
- 20.3.16.4. Strategy Overview
- 20.3.17. Fermentalg
- 20.3.17.1. Overview
- 20.3.17.2. Product Portfolio
- 20.3.17.3. Key Developments
- 20.3.17.4. Strategy Overview
- 20.3.18. Vegan Vitality
- 20.3.18.1. Overview
- 20.3.18.2. Product Portfolio
- 20.3.18.3. Key Developments
- 20.3.18.4. Strategy Overview
- 20.3.19. Solutex
- 20.3.19.1. Overview
- 20.3.19.2. Product Portfolio
- 20.3.19.3. Key Developments
- 20.3.19.4. Strategy Overview
- 20.3.20. Qponics Limited
- 20.3.20.1. Overview
- 20.3.20.2. Product Portfolio
- 20.3.20.3. Key Developments
- 20.3.20.4. Strategy Overview
- 20.3.21. Other Companies (on Additional Request)
- 20.3.21.1. Overview
- 20.3.21.2. Product Portfolio
- 20.3.21.3. Key Developments
- 20.3.21.4. Strategy Overview
- 20.3.1. Archer Daniels Midland Company (ADM)
21. Assumptions and Acronyms Used
22. Research Methodology
