Global Algae Oil Market to Reach USD 2.9 Billion by 2033, Impelled by Rising Health Consciousness Among Consumers

December 19, 2024 | Food & Beverages

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The latest report by IMARC Group, titled “Algae Oil Market Report by Grade (Fuel Grade, Food Grade, Feed Grade), Distribution Channel (Direct Sales, Supermarkets and Hypermarkets, Specialty Stores, Pharmacy, Online), Application (Biofuel, Dietary Supplement, Food and Beverage, Animal Feed, and Others), and Region 2025-2033,” finds that the global algae oil market size reached USD 2.1 Billion in 2024. Algae oil is an oil extracted from certain marine algae. It is rich in animal-free omega-3 fatty acids, including eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA). It offers several health benefits, such as lowering cholesterol levels, regulating blood pressure, minimizing the risk of stroke or heart attack, reducing inflammation, promoting low triglyceride levels, and improving vision among individuals with retinitis pigmentosa. It is widely utilized as a stabilizing agent in preparing ice creams, pet food, and other food supplements. Moreover, since algae oil is an excellent source of minerals and vitamins, it is used along with other fatty acids for fortifying foods and baby and infant formulas.

Global Algae Oil Market Trends:

The rising health consciousness among consumers and the surging awareness regarding the health benefits of algae oil represent the primary factors driving the market growth. In addition, since omega-3 fatty acids are generally obtained from animal sources, the shifting consumer inclination toward a vegetarian diet is another major growth-inducing factor. Besides this, the widespread availability of cooking oils, nutrition bars, juices, milk, yogurts, salad dressings, marinades, and other foods fortified with algae oil has catalyzed market growth. Furthermore, with the growing environmental concerns and depleting fossil fuels, algae oil is gaining traction as a renewable biofuel due to its low carbon footprint and sustainability. In line with this, the introduction of stringent government regulations to control greenhouse gas (GHG) emissions and promote energy conservation has accelerated the product adoption rate. Moreover, the emerging applications of algae oil in manufacturing DHA-based capsules to relieve intraocular pressure in individuals suffering from macular degeneration, an age-related vision loss disorder, are positively influencing the market growth. Other factors, including the escalating demand for functional foods and nutraceuticals, rising product adoption in animal feed, changing consumer lifestyle preferences, and extensive research and development (R&D) activities, are also creating a positive market outlook. Looking forward, IMARC Group expects the market value to reach USD 2.9 Billion by 2033, growing at a CAGR of 3.57% during the forecast period (2025-2033).

Market Summary:

Based on the grade, the market has been categorized into fuel, food, and feed grades.
On the basis of the distribution channel, the market has been divided into direct sales, supermarkets and hypermarkets, specialty stores, pharmacy, and online.
Based on the application, the market has been classified into biofuel, dietary supplement, food and beverage, animal feed, and others.
Region-wise, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
The competitive landscape of the market has also been analyzed, with some of the key players being Algae Floating Systems Inc., Algae Production Systems, Alltech, Inc., Cargill Incorporated, Cellana Inc., Corbion N.V., Cyanotech Corporation, Koninklijke DSM N.V., Lonza Group AG, Pond Technologies Inc., and Renewable Algal Energy LLC (RAE).

Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Segment Coverage	Grade, Distribution Channel, Application, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Algae Floating Systems Inc., Algae Production Systems, Alltech, Cargill Incorporated, Cellana Inc., Corbion N.V , Cyanotech Corporation, Koninklijke DSM N.V., Lonza Group AG, Pond Technologies Inc. and Renewable Algal Energy LLC (RAE)
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Algae Oil Market to Reach USD 2.9 Billion by 2033, Impelled by Rising Health Consciousness Among Consumers

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