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Algae Fats Market Size
Algae Fats Market size valued at USD 280 million in 2022 and is projected to depict more than 5% CAGR from 2023 to 2032.
Growing nutritional requirements and a rapid shift from animal-derived to plant-based supplements will propel the industry growth. In the recent past, consumer inclination toward novel algae-based Omega 3 fatty acid supplements has increased notably. Algal oil is a rich source of omega-3 and is consumed to improve overall health and even to treat patients with cardiovascular diseases. They have an array of health benefits including anti-inflammatory, which helps prevent the risk of age-related macular degeneration, rheumatoid arthritis, and depression. It can also help improve the health of young babies and mothers.
How big is the algae fats market?
The market size of algae fats was worth USD 280 million in 2022 and will expand more than 5% CAGR from 2023 to 2032.
Why is the demand for food-grade algae fats growing?
Food-grade algae fats market size will depict a 5.5% CAGR between 2023 and 2032, driven by the increasing demand for plant-based Omega-3 supplements.
Who are the major algae fats producers?
Batory Foods, ADM, PLT Health Solutions, AGT Food, and Ingredients, Cyanotech Corporation, Cargill, Inc., Earthrise Nutritional, and Ingredion Inc. are some of the major manufacturers of algae fats.
What factors are augmenting the Europe algae fats industry growth?
Europe market valued at USD 61.5 million in 2022, due to the growing preference for vegan diets and plant-based alternatives.