As per a study conducted on algal oil by Persistence Market Research, Europe dominates the market for with over 27.2% value share in 2021. Biofuels and nutraceuticals together account for more than 57% share in the global market, mainly due to increased acceptability of algae-based products among consumers.
Overall, the market for algal oil is worth US$ 124.9 Mn, and is projected to reach a valuation of US$ 230.5 Mn by 2031. Highest growth potential is depicted by feed grade algal oil, which is projected to register a CAGR at 6.9% over the forecast period of 2021 to 2031.
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FACTS AT A GLANCE
Companies:Archer Daniels Midland,Arizona Algal Products,LLC,AlgiSys LLC,Algalr NutraPharms Pvt. Ltd.,Corbion,Algarithm,Progress Biotech,DSM,Bioriginal Food & Science Corp.,Lyxia Corporation,Amandean. LLC.,Polaris,Inlife Care,Kauffman’s,Meteoric Biopharmaceuticals Pvt. Ltd.,Mara Corp.,Fermentalg,Vegan Vitality,Solutex,Qponics Limited,Others (on Request)
Coverage: All major geographies and key segments
Segments: Nature(Organic Algal Oil,Conventional Algal Oil); Applications(Food & Beverage industry,Personal Care & Cosmetics,Pharmaceuticals,Animal Feed,Nutraceuticals,Biofuels)
Geographies: North America (U.S., Canada),Latin America (Mexico, Brazil, Argentina, Chile, Peru),Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Eastern Europe),CIS and Russia,Asia-Pacific (China, India, ASEAN, South Korea),Japan,Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
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Algal Oil Market: Report Scope
A latest market report by Persistence Market Research on the global algal oil market evaluates the opportunities and current market scenario, providing insights and updates about corresponding segments involved in the market for the forecast period of 2021-2031.
The report provides detailed assessment of key market dynamics, and comprehensive information about the structure of the market. This study contains detailed insights into how the market is anticipated to grow during the forecast period of 2021-2031.
The primary objective of the report is to provide insights regarding opportunities in the market that are supporting the transformation of global businesses associated with algal oil. It is very important to consider that, in an ever-wavering economy, we provide estimated (Y-o-Y) year-on-year growth rate in addition to compound annual growth rate (CAGR) for overall forecasts, to enable readers better understand the analysis and evaluation of the market, and to discover lucrative opportunities in this space.
This report also provides an estimate of market size and corresponding revenue forecasts carried out in terms of absolute $ opportunity. It also offers actionable insights based on the future trends in the market. Furthermore, new and emerging players in the global algal oil market can make use of the information presented in the study for effective business decisions, which will provide momentum to their businesses as well as the global market.
The study is relevant for manufacturers, suppliers, distributors, and investors in the global algal oil market. All stakeholders, as well as industry experts, researchers, journalists, and business researchers can leverage the information and data represented in the report.
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