Algae Oil Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2024-2031

Description

Persistence Market Research has recently released a comprehensive report on the worldwide market for algae oil. The report offers a thorough assessment of crucial market dynamics, including drivers, trends, opportunities, and challenges, providing detailed insights into the market structure. This research publication presents exclusive data and statistics outlining the anticipated growth trajectory of the global algae oil market from 2024 to 2031.

Key Insights:

Algae Oil Market Size (2024E): USD 168.7 Mn
Projected Market Value (2031F): USD 298.6 Mn
Global Market Growth Rate (CAGR 2024 to 2031):6.6%

Algae Oil Market - Report Scope:

Algae oil is derived from algae species and is a rich source of omega-3 fatty acids, antioxidants, and other essential nutrients. It is widely used in the food and beverage industry, as well as in nutraceuticals, cosmetics, and biofuels. The algae oil market caters to several industries, offering products such as DHA and EPA oils, which are essential for human health. Market growth is driven by increasing awareness of the health benefits of algae oil, growing demand for sustainable sources of omega-3s, and advancements in algae cultivation and oil extraction technologies.

Market Growth Drivers:

The global algae oil market is propelled by several key factors, including rising health awareness among consumers and an increasing preference for plant-based alternatives to fish oil. The growing demand for omega-3 fatty acids, known for their cardiovascular, anti-inflammatory, and cognitive health benefits, is another significant driver. Moreover, algae oil is considered a more sustainable and environmentally friendly option compared to fish oil, contributing to its rising popularity in the nutraceutical and dietary supplement markets. Technological advancements in algae farming and oil extraction processes further enhance the efficiency and cost-effectiveness of algae oil production, fueling market growth.

Market Restraints:

Despite promising growth prospects, the algae oil market faces challenges related to high production costs and the complexity of large-scale algae cultivation. The initial investment in algae farming infrastructure and technology can be substantial, which may deter some potential entrants. Furthermore, the algae oil extraction process can be energy-intensive, contributing to the overall cost of the product. Additionally, the market's reliance on developing new and efficient extraction techniques presents a hurdle, as the technology is still evolving, and large-scale commercialization remains a challenge.

Market Opportunities:

The algae oil market presents significant growth opportunities driven by sustainability trends and the increasing demand for clean-label, plant-based products. The rising awareness about the environmental impact of fish oil harvesting has accelerated the adoption of algae oil as a preferred omega-3 source. Moreover, the growing use of algae oil in the cosmetics industry for skincare and anti-aging products offers a promising market expansion avenue. Strategic partnerships between algae oil producers and key players in the food, healthcare, and biofuel industries are expected to open new markets and improve access to diverse consumer segments.

Key Questions Answered in the Report:

What are the primary factors driving the growth of the algae oil market globally?
Which applications are driving the adoption of algae oil in various industries?
How are technological advancements reshaping the competitive landscape of the algae oil market?
Who are the key players contributing to the algae oil market, and what strategies are they employing to maintain market relevance?
What are the emerging trends and future prospects in the global algae oil market?

Competitive Intelligence and Business Strategy:

Leading players in the global algae oil market, including DSM, Corbion, and Algalife, focus on innovation, product differentiation, and strategic partnerships to gain a competitive edge. These companies invest in R&D to develop advanced algae oil products, including DHA and EPA oils, targeting both nutraceutical and industrial applications. Collaborations with food and beverage manufacturers, supplement producers, and cosmetic brands facilitate market access and promote technology adoption. Additionally, companies are exploring new applications for algae oil in biofuels and sustainable packaging materials, opening new revenue streams and enhancing market growth potential.

Key Companies Profiled:

DSM
Corbion
Algalife
Solazyme (now TerraVia)
Nurture Life
Evonik Industries
Cellana, Inc.
Lipoid Kosmetik AG
Algama

Market Taxonomy:

Grade Type

Fuel Grade
Feed Grade
Food Grade

End User

Pharmaceuticals
Nutraceuticals
Functional foods
Aquaculture
Infant & Clinical Nutrition

Application

Dietary Supplements
Food & Beverages
Animal Feed
Personal care
Pharmaceuticals
Biofuels

Sales Channel

Direct Sales
Hyper/SuperMarket
Specialty Stores
Online
Other retail formats

Region

North America
Latin America
Europe
Japan
APEJ
MEA

Product Code: PMRREP12478

1. Executive Summary

2. Global Algae Oil Market Overview

2.1. Introduction
- 2.1.1. Global Algae Oil Market Taxonomy
- 2.1.2. Global Algae Oil Market Definition
2.2. Global Algae Oil Market Size (US$ Mn) and Forecast, 2024-2031
- 2.2.1. Global Algae Oil Market Y-o-Y Growth
2.3. Global Algae Oil Market Dynamics
2.4. Supply Chain
2.5. Cost Structure
2.6. Pricing Analysis
2.7. Raw Material Sourcing Strategy and Analysis
2.8. List of Distributors
2.9. Key Participants Market Presence (Intensity Map) By Region

3. Global Algae Oil Market Analysis and Forecast By Grade Type

3.1. Global Algae Oil Market Size and Forecast By Grade Type, 2024-2031
- 3.1.1. Fuel Grade Algae Oil Market Size and Forecast, 2024-2031
  - 3.1.1.1. Revenue (US$ Mn) Comparison, By Region
  - 3.1.1.2. Market Share Comparison, By Region
  - 3.1.1.3. Y-o-Y growth Comparison, By Region
- 3.1.2. Feed Grade Algae Oil Market Size and Forecast, 2024-2031
  - 3.1.2.1. Revenue (US$ Mn) Comparison, By Region
  - 3.1.2.2. Market Share Comparison, By Region
  - 3.1.2.3. Y-o-Y growth Comparison, By Region
- 3.1.3. Food Grade Algae Oil Market Size and Forecast, 2024-2031
  - 3.1.3.1. Revenue (US$ Mn) Comparison, By Region
  - 3.1.3.2. Market Share Comparison, By Region
  - 3.1.3.3. Y-o-Y growth Comparison, By Region

4. Global Algae Oil Market Analysis and Forecast By End User

4.1. Global Algae Oil Market Size and Forecast By End User, 2024-2031
- 4.1.1. Pharmaceuticals Algae Oil Market Size and Forecast, 2024-2031
  - 4.1.1.1. Revenue (US$ Mn) Comparison, By Region
  - 4.1.1.2. Market Share Comparison, By Region
  - 4.1.1.3. Y-o-Y growth Comparison, By Region
- 4.1.2. Nutraceuticals Algae Oil Market Size and Forecast, 2024-2031
  - 4.1.2.1. Revenue (US$ Mn) Comparison, By Region
  - 4.1.2.2. Market Share Comparison, By Region
  - 4.1.2.3. Y-o-Y growth Comparison, By Region
- 4.1.3. Functional foods Algae Oil Market Size and Forecast, 2024-2031
  - 4.1.3.1. Revenue (US$ Mn) Comparison, By Region
  - 4.1.3.2. Market Share Comparison, By Region
  - 4.1.3.3. Y-o-Y growth Comparison, By Region
- 4.1.4. Aquaculture Algae Oil Market Size and Forecast, 2024-2031
  - 4.1.4.1. Revenue (US$ Mn) Comparison, By Region
  - 4.1.4.2. Market Share Comparison, By Region
  - 4.1.4.3. Y-o-Y growth Comparison, By Region
- 4.1.5. Infant & Clinical Nutrition Algae Oil Market Size and Forecast, 2024-2031
  - 4.1.5.1. Revenue (US$ Mn) Comparison, By Region
  - 4.1.5.2. Market Share Comparison, By Region
  - 4.1.5.3. Y-o-Y growth Comparison, By Region

5. Global Algae Oil Market Analysis and Forecast By Application

5.1. Global Algae Oil Market Size and Forecast By Application, 2024-2031
- 5.1.1. Dietary Supplements Algae Oil Market Size and Forecast, 2024-2031
  - 5.1.1.1. Revenue (US$ Mn) Comparison, By Region
  - 5.1.1.2. Market Share Comparison, By Region
  - 5.1.1.3. Y-o-Y growth Comparison, By Region
- 5.1.2. Food & Beverages Algae Oil Market Size and Forecast, 2024-2031
  - 5.1.2.1. Revenue (US$ Mn) Comparison, By Region
  - 5.1.2.2. Market Share Comparison, By Region
  - 5.1.2.3. Y-o-Y growth Comparison, By Region
- 5.1.3. Animal Feed Algae Oil Market Size and Forecast, 2024-2031
  - 5.1.3.1. Revenue (US$ Mn) Comparison, By Region
  - 5.1.3.2. Market Share Comparison, By Region
  - 5.1.3.3. Y-o-Y growth Comparison, By Region
- 5.1.4. Personal care Algae Oil Market Size and Forecast, 2024-2031
  - 5.1.4.1. Revenue (US$ Mn) Comparison, By Region
  - 5.1.4.2. Market Share Comparison, By Region
  - 5.1.4.3. Y-o-Y growth Comparison, By Region
- 5.1.5. Pharmaceuticals Algae Oil Market Size and Forecast, 2024-2031
  - 5.1.5.1. Revenue (US$ Mn) Comparison, By Region
  - 5.1.5.2. Market Share Comparison, By Region
  - 5.1.5.3. Y-o-Y growth Comparison, By Region
- 5.1.6. Biofuels Algae Oil Market Size and Forecast, 2024-2031
  - 5.1.6.1. Revenue (US$ Mn) Comparison, By Region
  - 5.1.6.2. Market Share Comparison, By Region
  - 5.1.6.3. Y-o-Y growth Comparison, By Region
- 5.1.7. Others Algae Oil Market Size and Forecast, 2024-2031
  - 5.1.7.1. Revenue (US$ Mn) Comparison, By Region
  - 5.1.7.2. Market Share Comparison, By Region
  - 5.1.7.3. Y-o-Y growth Comparison, By Region

6. Global Algae Oil Market Analysis and Forecast By Sales Channel

6.1. Global Algae Oil Market Size and Forecast By Sales Channel, 2024-2031
- 6.1.1. Direct Sales Algae Oil Market Size and Forecast, 2024-2031
  - 6.1.1.1. Revenue (US$ Mn) Comparison, By Region
  - 6.1.1.2. Market Share Comparison, By Region
  - 6.1.1.3. Y-o-Y growth Comparison, By Region
- 6.1.2. Hyper/SuperMarket Algae Oil Market Size and Forecast, 2024-2031
  - 6.1.2.1. Revenue (US$ Mn) Comparison, By Region
  - 6.1.2.2. Market Share Comparison, By Region
  - 6.1.2.3. Y-o-Y growth Comparison, By Region
- 6.1.3. Specialty Stores Algae Oil Market Size and Forecast, 2024-2031
  - 6.1.3.1. Revenue (US$ Mn) Comparison, By Region
  - 6.1.3.2. Market Share Comparison, By Region
  - 6.1.3.3. Y-o-Y growth Comparison, By Region
- 6.1.4. Online Algae Oil Market Size and Forecast, 2024-2031
  - 6.1.4.1. Revenue (US$ Mn) Comparison, By Region
  - 6.1.4.2. Market Share Comparison, By Region
  - 6.1.4.3. Y-o-Y growth Comparison, By Region
- 6.1.5. Other retail formats Algae Oil Market Size and Forecast, 2024-2031
  - 6.1.5.1. Revenue (US$ Mn) Comparison, By Region
  - 6.1.5.2. Market Share Comparison, By Region
  - 6.1.5.3. Y-o-Y growth Comparison, By Region

7. Global Algae Oil Market Analysis and Forecast By Region

7.1. Global Algae Oil Market Size and Forecast, 2024-2031
- 7.1.1. North America Algae Oil Market Size and Forecast, 2024-2031
  - 7.1.1.1. Revenue (US$ Mn) Comparison, By Grade Type
  - 7.1.1.2. Revenue (US$ Mn) Comparison, By End User
  - 7.1.1.3. Revenue (US$ Mn) Comparison, By Application
  - 7.1.1.4. Revenue (US$ Mn) Comparison, By Sales Channel
- 7.1.2. Latin America Algae Oil Market Size and Forecast, 2024-2031
  - 7.1.2.1. Revenue (US$ Mn) Comparison, By Grade Type
  - 7.1.2.2. Revenue (US$ Mn) Comparison, By End User
  - 7.1.2.3. Revenue (US$ Mn) Comparison, By Application
  - 7.1.2.4. Revenue (US$ Mn) Comparison, By Sales Channel
- 7.1.3. Europe Algae Oil Market Size and Forecast, 2024-2031
  - 7.1.3.1. Revenue (US$ Mn) Comparison, By Grade Type
  - 7.1.3.2. Revenue (US$ Mn) Comparison, By End User
  - 7.1.3.3. Revenue (US$ Mn) Comparison, By Application
  - 7.1.3.4. Revenue (US$ Mn) Comparison, By Sales Channel
- 7.1.4. Japan Algae Oil Market Size and Forecast, 2024-2031
  - 7.1.4.1. Revenue (US$ Mn) Comparison, By Grade Type
  - 7.1.4.2. Revenue (US$ Mn) Comparison, By End User
  - 7.1.4.3. Revenue (US$ Mn) Comparison, By Application
  - 7.1.4.4. Revenue (US$ Mn) Comparison, By Sales Channel
- 7.1.5. APEJ Algae Oil Market Size and Forecast, 2024-2031
  - 7.1.5.1. Revenue (US$ Mn) Comparison, By Grade Type
  - 7.1.5.2. Revenue (US$ Mn) Comparison, By End User
  - 7.1.5.3. Revenue (US$ Mn) Comparison, By Application
  - 7.1.5.4. Revenue (US$ Mn) Comparison, By Sales Channel
- 7.1.6. MEA Algae Oil Market Size and Forecast, 2024-2031
  - 7.1.6.1. Revenue (US$ Mn) Comparison, By Grade Type
  - 7.1.6.2. Revenue (US$ Mn) Comparison, By End User
  - 7.1.6.3. Revenue (US$ Mn) Comparison, By Application
  - 7.1.6.4. Revenue (US$ Mn) Comparison, By Sales Channel

8. North America Algae Oil Market Analysis and Forecast, By Country, 2024-2031

8.1. US Algae Oil Market Size and Forecast, 2024-2031
- 8.1.1. Revenue (US$ Mn) Comparison, By Grade Type
- 8.1.2. Revenue (US$ Mn) Comparison, By End User
- 8.1.3. Revenue (US$ Mn) Comparison, By Application
- 8.1.4. Revenue (US$ Mn) Comparison, By Sales Channel
8.2. Canada Algae Oil Market Size and Forecast, 2024-2031
- 8.2.1. Revenue (US$ Mn) Comparison, By Grade Type
- 8.2.2. Revenue (US$ Mn) Comparison, By End User
- 8.2.3. Revenue (US$ Mn) Comparison, By Application
- 8.2.4. Revenue (US$ Mn) Comparison, By Sales Channel

9. Latin America Algae Oil Market Analysis and Forecast, By Country, 2024-2031

9.1. Brazil Algae Oil Market Size and Forecast, 2024-2031
- 9.1.1. Revenue (US$ Mn) Comparison, By Grade Type
- 9.1.2. Revenue (US$ Mn) Comparison, By End User
- 9.1.3. Revenue (US$ Mn) Comparison, By Application
- 9.1.4. Revenue (US$ Mn) Comparison, By Sales Channel
9.2. Mexico Algae Oil Market Size and Forecast, 2024-2031
- 9.2.1. Revenue (US$ Mn) Comparison, By Grade Type
- 9.2.2. Revenue (US$ Mn) Comparison, By End User
- 9.2.3. Revenue (US$ Mn) Comparison, By Application
- 9.2.4. Revenue (US$ Mn) Comparison, By Sales Channel
9.3. Argentina Algae Oil Market Size and Forecast, 2024-2031
- 9.3.1. Revenue (US$ Mn) Comparison, By Grade Type
- 9.3.2. Revenue (US$ Mn) Comparison, By End User
- 9.3.3. Revenue (US$ Mn) Comparison, By Application
- 9.3.4. Revenue (US$ Mn) Comparison, By Sales Channel

10. Europe Algae Oil Market Analysis and Forecast, By Country, 2024-2031

10.1. Germany Algae Oil Market Size and Forecast, 2024-2031
- 10.1.1. Revenue (US$ Mn) Comparison, By Grade Type
- 10.1.2. Revenue (US$ Mn) Comparison, By End User
- 10.1.3. Revenue (US$ Mn) Comparison, By Application
- 10.1.4. Revenue (US$ Mn) Comparison, By Sales Channel
10.2. UK Algae Oil Market Size and Forecast, 2024-2031
- 10.2.1. Revenue (US$ Mn) Comparison, By Grade Type
- 10.2.2. Revenue (US$ Mn) Comparison, By End User
- 10.2.3. Revenue (US$ Mn) Comparison, By Application
- 10.2.4. Revenue (US$ Mn) Comparison, By Sales Channel
10.3. France Algae Oil Market Size and Forecast, 2024-2031
- 10.3.1. Revenue (US$ Mn) Comparison, By Grade Type
- 10.3.2. Revenue (US$ Mn) Comparison, By End User
- 10.3.3. Revenue (US$ Mn) Comparison, By Application
- 10.3.4. Revenue (US$ Mn) Comparison, By Sales Channel
10.4. Spain Algae Oil Market Size and Forecast, 2024-2031
- 10.4.1. Revenue (US$ Mn) Comparison, By Grade Type
- 10.4.2. Revenue (US$ Mn) Comparison, By End User
- 10.4.3. Revenue (US$ Mn) Comparison, By Application
- 10.4.4. Revenue (US$ Mn) Comparison, By Sales Channel
10.5. Italy Algae Oil Market Size and Forecast, 2024-2031
- 10.5.1. Revenue (US$ Mn) Comparison, By Grade Type
- 10.5.2. Revenue (US$ Mn) Comparison, By End User
- 10.5.3. Revenue (US$ Mn) Comparison, By Application
- 10.5.4. Revenue (US$ Mn) Comparison, By Sales Channel
10.6. Nordic Algae Oil Market Size and Forecast, 2024-2031
- 10.6.1. Revenue (US$ Mn) Comparison, By Grade Type
- 10.6.2. Revenue (US$ Mn) Comparison, By End User
- 10.6.3. Revenue (US$ Mn) Comparison, By Application
- 10.6.4. Revenue (US$ Mn) Comparison, By Sales Channel

11. Japan Algae Oil Market Analysis and Forecast, By Country, 2024-2031

11.1. Japan Algae Oil Market Size and Forecast, 2024-2031
- 11.1.1. Revenue (US$ Mn) Comparison, By Grade Type
- 11.1.2. Revenue (US$ Mn) Comparison, By End User
- 11.1.3. Revenue (US$ Mn) Comparison, By Application
- 11.1.4. Revenue (US$ Mn) Comparison, By Sales Channel

12. APEJ Algae Oil Market Analysis and Forecast, By Country, 2024-2031

12.1. China Algae Oil Market Size and Forecast, 2024-2031
- 12.1.1. Revenue (US$ Mn) Comparison, By Grade Type
- 12.1.2. Revenue (US$ Mn) Comparison, By End User
- 12.1.3. Revenue (US$ Mn) Comparison, By Application
- 12.1.4. Revenue (US$ Mn) Comparison, By Sales Channel
12.2. India Algae Oil Market Size and Forecast, 2024-2031
- 12.2.1. Revenue (US$ Mn) Comparison, By Grade Type
- 12.2.2. Revenue (US$ Mn) Comparison, By End User
- 12.2.3. Revenue (US$ Mn) Comparison, By Application
- 12.2.4. Revenue (US$ Mn) Comparison, By Sales Channel
12.3. Malaysia Algae Oil Market Size and Forecast, 2024-2031
- 12.3.1. Revenue (US$ Mn) Comparison, By Grade Type
- 12.3.2. Revenue (US$ Mn) Comparison, By End User
- 12.3.3. Revenue (US$ Mn) Comparison, By Application
- 12.3.4. Revenue (US$ Mn) Comparison, By Sales Channel
12.4. Thailand Algae Oil Market Size and Forecast, 2024-2031
- 12.4.1. Revenue (US$ Mn) Comparison, By Grade Type
- 12.4.2. Revenue (US$ Mn) Comparison, By End User
- 12.4.3. Revenue (US$ Mn) Comparison, By Application
- 12.4.4. Revenue (US$ Mn) Comparison, By Sales Channel
12.5. Singapore Algae Oil Market Size and Forecast, 2024-2031
- 12.5.1. Revenue (US$ Mn) Comparison, By Grade Type
- 12.5.2. Revenue (US$ Mn) Comparison, By End User
- 12.5.3. Revenue (US$ Mn) Comparison, By Application
- 12.5.4. Revenue (US$ Mn) Comparison, By Sales Channel
12.6. Australia Algae Oil Market Size and Forecast, 2024-2031
- 12.6.1. Revenue (US$ Mn) Comparison, By Grade Type
- 12.6.2. Revenue (US$ Mn) Comparison, By End User
- 12.6.3. Revenue (US$ Mn) Comparison, By Application
- 12.6.4. Revenue (US$ Mn) Comparison, By Sales Channel

13. MEA Algae Oil Market Analysis and Forecast, By Country, 2024-2031

13.1. GCC Countries Algae Oil Market Size and Forecast, 2024-2031
- 13.1.1. Revenue (US$ Mn) Comparison, By Grade Type
- 13.1.2. Revenue (US$ Mn) Comparison, By End User
- 13.1.3. Revenue (US$ Mn) Comparison, By Application
- 13.1.4. Revenue (US$ Mn) Comparison, By Sales Channel
13.2. South Africa Algae Oil Market Size and Forecast, 2024-2031
- 13.2.1. Revenue (US$ Mn) Comparison, By Grade Type
- 13.2.2. Revenue (US$ Mn) Comparison, By End User
- 13.2.3. Revenue (US$ Mn) Comparison, By Application
- 13.2.4. Revenue (US$ Mn) Comparison, By Sales Channel
13.3. Nigeria Algae Oil Market Size and Forecast, 2024-2031
- 13.3.1. Revenue (US$ Mn) Comparison, By Grade Type
- 13.3.2. Revenue (US$ Mn) Comparison, By End User
- 13.3.3. Revenue (US$ Mn) Comparison, By Application
- 13.3.4. Revenue (US$ Mn) Comparison, By Sales Channel
13.4. Israel Algae Oil Market Size and Forecast, 2024-2031
- 13.4.1. Revenue (US$ Mn) Comparison, By Grade Type
- 13.4.2. Revenue (US$ Mn) Comparison, By End User
- 13.4.3. Revenue (US$ Mn) Comparison, By Application
- 13.4.4. Revenue (US$ Mn) Comparison, By Sales Channel

14. Global Algae Oil Market Company Share, Competition Landscape and Company Profiles

14.1. Company Share Analysis
14.2. Competition Landscape
- 14.2.1. TerraVia Holdings Inc
- 14.2.2. DIC Corporation
- 14.2.3. Royal DSM NV
- 14.2.4. Cyanotech Corporation
- 14.2.5. Cellana Llc
- 14.2.6. Cargill Inc
- 14.2.7. Bioprocess Algae Llc
- 14.2.8. Diversified Energy Corporation
- 14.2.9. Seaweed Energy Solutions A/S
- 14.2.10. Alltech Inc
- 14.2.11. TerraVia Holdings Inc