Algae
oil is rich in Omega 3 fatty acids and DHA (docosahexaenoic acid). It
is synthesized directly from algae and hence the terminology algae
oil. Marine algae is harvested to obtain this product, which is
extracted and then refined, ready for use. The DHA present in algae
oil accounts for 97 percent of Omega 3 in the human brain, retina and
cerebral cortex. It can be called as a rich vegetable source of DHA
and Omega 3 which has several health benefits. It is also added in
food items, supplements and beverages.
Global
Algae
oil market is influenced by several parameters. The major
factors driving the growth of the global algae oil market are its
increasing use in the food and beverage industry owing to health
benefits associated with the healthy composition of algae oil which
involves high phycocyanin, proteins and antioxidants apart from DHA
and Omega 3. Algae oil is also used as specialty oil due to its low
saturated fat content. Algae oil provides high nutrition and health
benefits such as it helps in cholesterol reduction, improves eyesight
and memory. Rising health awareness and increasing preference to
nutritional vegetable sources is another aspect favoring the growth
of the global algae oil market. Algae oil is also used in energy
sector, where it is used to produce biofuel. Biofuel is widely used
today for its low carbon footprint, and hence consumption of algae
oil is increasing considerably in the respect which contributes to
the growth of the global algae oil market. However, higher pricing of
algae oil is a leg puller which challenges the growth of the global
algae oil market.
According
to Persistence Market Research, the global algae oil market is
estimated to reflect a value of around US$1.9 Bn by 2022 end, growing
at a moderate CAGR during the forecast period 2017-2022.
Fuel
Grade Segment to Gain High Momentum
By
grade type, the fuel grade segment is expected to reflect high growth
rate during the forecast period 2017-2022. This segment also reflects
high market share as of 2017, and according to Persistence Market
Research, it is expected to continue with this trend to surpass other
segments. It is also estimated to gain a higher BPS by 2022 end.
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more information on this report, fill the form @
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Pharmaceuticals
Show Strength, Aquaculture Shows Speed
By
end user, the pharmaceutical segment is expected to dominate the
global market, based on the fact that the segment reflected high
market share in 2016, and by the end of 2012, it is expected to
continue witness growth with a significant market share. On the other
hand, the aquaculture segment is projected to grow at a high CAGR of
5.3% during the period of forecast 2017-2022. This segment shows high
potential and presents manufacturers with several growth
opportunities in the coming years.
Biofuel
to Fuel Immense Growth
By
application, the biofuel segment is expected to show high potential
and project immense growth rate to reflect a higher CAGR of 5.5% as
compared to other segments in the application category. This segment
is also expected to dominate the global market in terms of high
market share during the forecast period. Following this segment, the
pharmaceuticals segment shows significant market value and moderate
growth rate during the period of forecast.
Direct
Sales Dominate the Global Market by Sales Channel
By
sales channel, the direct sales segment is expected to lead the
global market and is poised to reflect a high market share by 2022
end. This segment also shows high growth rate to reflect a CAGR of
5.8% during the 2017-2022 period along with a high gain in the BPS.
Tough call to make between hypermarket and supermarket segment and
specialty stores segment, which have similar growth statistics,
however, hyper/super markets segment expected to show high market
share.
North
America – the Leading Region in the Global Market
With
respect to geography, North America region shows high market
attractiveness. This region is expected to grow at a high CAGR during
the period of forecast, and reflect a high market share thus
dominating the global market by region, followed by Europe.
Asia-Pacific excluding Japan (APEJ) region is expected to show a
higher growth rate compared to other regions during the forecast
period.
Competition
Tracking
The
research report has profiled companies which are expected to remain
active in the expansion of global algae oil market throughout 2022.
Companies such as TerraVia Holdings Inc., DIC Corporation, Royal DSM
NV, Cyanotech Corporation, Cellana Llc, Cargill Inc., Bioprocess
Algae Llc, Diversified Energy Corporation, Seaweed Energy Solutions
A/S, Alltech Inc., and Lonza Group AG are profiled in the market
research report.
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