Home > Food & Beverages > Nutraceuticals > Omega 3 > Algae Oil Market

Algae Oil Market Trends

Report ID: GMI2222
Published Date: Jul 2024
Report Format: PDF

Download Free Sample

Algae Oil Market Trends

The algae oil industry is witnessing strong growth, propelled by rising consumer preferences for sustainable and health-focused oil alternatives. A significant shift is evident, with algae oil increasingly finding its way into dietary supplements and functional foods, lauded for its high omega-3 content and nutritional advantages.

Beyond food, the market is diversifying, with the cosmetics and personal care segments embracing algae oil for its moisturizing and anti-aging attributes. Technological strides in cultivation and extraction are streamlining production, driving efficiency, and trimming costs. Furthermore, a heightened emphasis on environmental sustainability is amplifying the appeal of algae oil across various sectors.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of algae oil reached USD 5.2 billion in 2023 and is set to register over 5.9% CAGR between 2024 and 2032, due to rapid advancements in cultivation and extraction technologies.

The green algae segment in the algae oil industry is expected to reach USD 2.3 billion by 2032, owing to its high content of beneficial nutrients and bioactive compounds and ability to grow in a variety of environments.

North America market is expected to reach USD 2.48 billion by 2032, attributed to its advanced technological infrastructure and increasing investment in R&D.

Algaetech International Sdn Bhd, Algama, Algenuity, Algix, Alltech, Cellana, Corbion, DIC Corporation, Enerkem, and Heliae Development LLC.