Global Algae Oil Market by Application (Biofuel, Animal Feed, F&B, Dietary Supplement), by Grade (Feed, Fuel, Food) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028
Summary of the Report
Alga oil's global market value was USD 1.38 billion in 2015. It is expected to grow at 4.3% CAGR over the forecast period due to increased biofuel application and its lower carbon footprint. Alga oil is a viable investment option as it provides a solution to depleting fossil fuels.
U.S. Alga Oil Market Revenue, Application, 2014-2025 (USD Million).
Due to its increased use of omega-3 fatty acid, phycocyanin and antioxidants, as well as proteins and other nutrients, the market demand for food & beverages and dietary supplements has been increasing. The demand for plant-based supplements has increased due to the rising popularity of natural products within the dietary supplement industry. This is expected to drive market growth in the next nine years. Because it is low in saturated and trans fats, it can be used as a specialty oil in the food sector. This makes it a healthier choice. It is expected that the industry will benefit from the expansion of applications in North America and Europe.
According to estimates, biofuel is the most popular application segment. It is expected to grow in importance due its increasing use as a sustainable fuel. Biofuel is being increasingly used as an alternative fuel for blending biodiesel with gasoline and jet fuel. Because it is an environmentally-friendly and low-sulfur-emitting fuel, it makes a great investment choice for countries that don't produce oil. Market demand will rise over the next nine year due to the emergence of alternative fuel sectors across all geographies.
Algae oil has a higher nutritional value than grain feed because it contains HTML3_ omega-3 HTML3_. This is driving the demand for animal feed. Algae cultivation is more efficient than using land crops for animal feed. It also requires less water and land. The market for algae oil will be driven by rising animal feed consumption between 2015 and 2025.
Industry growth will be limited by the need for specific temperature and humidity conditions, as well as other parameters for cultivation and harvesting. This is in addition to the high price of this product. The industry's growth may be impeded by the large area needed to produce algae in the future.
Application insights
Animal feed was the second most important application segment, accounting for more than 27% of global volume in 2015. Over the next nine-years, animal feed will see a rise in demand due to its primary ingredient of algae oil, which is micronutrients.
2015 was a record year for food & beverages. It can also be used to produce various types of edible oils. Market growth is expected to be accelerated by an increase in food industry growth and better health.
Global algae oil market volume, by grade, 2015
Global revenue share was more than 60% in 2015 for the biofuel and dietary supplement applications. These applications are in high demand due to environmental benefits and rich sources of omega-3.
Grade insights
In 2015, the fuel grade segment was worth USD 779.2 millions. It is expected to grow at a 4.5% CAGR over the next nine year. Fuel grade accounted for 57% of global market volume in 2015. It is used to make biofuel, including biodiesel and jet fuel.
The product has many environmental benefits, including a lower carbon footprint and less greenhouse gas emissions. It also emits less carbon dioxide. Different grades of algae oil will see significant growth in the future.
Regional Insights
Due to rising demand from biofuel applications, the U.S. accounted in 2015 for more than 80% of North America's market volume. Over the next nine years, the industry will benefit from the innovative cultivation and harvesting technologies to produce high-quality algae oil to meet fuel industry requirements.
In 2015, the demand in Asia Pacific was worth more than USD 300 million. The growth of several application sectors, including food & drink, dietary supplement, animal feed, and biofuel, is responsible for this increase. Asia Pacific will continue to be the second largest market in the period 2016-2025.
Higher overall production capacity is expected to be a result of China's increasing demand due to its pollution control mandates. The market is expected to grow due to substantial demand from Asia Pacific's biofuel industry over the forecast period.
Market Share in Algae Oil
TerraVia Holdings, Inc, Diversified Energy Corporation, Algix, LLC, Cellana Inc are key players in this market. Producers have focused on the affordability of the products, the integrated supply chain, as well as product differentiation. Companies have invested in integrating the supply chains to retain market share and focus on sustainable growth.
Algix, LLC was given the task of cleaning the pond scum from 10,000 acres of catfish farms in October 2014. This work would be used to convert to biodegradable plastics. This was an opportunity for Algix to establish an algae treatment plant that produces approximately 200 million pounds bio-plastic resin.
Algae Oil Market Report Scope
Report Attribute |
More Details |
2019 Market Size Value |
USD 1.63 Billion |
Forecast Revenues in 2025 |
USD 2.09 Billion |
Growth Rate |
CAGR of 4.3% between 2019 and 2025 |
Estimation base year |
2018 |
Historical data |
2014 - 2017 |
Forecast period |
2019 - 2025 |
Quantitative units |
From 2019 to 2025, revenue in USD billions and CAGR |
Report coverage |
Forecast revenue, company ranking and competitive landscape, growth factors and trends |
Segments covered |
Region, grade, and application |
Regional scope |
North America; Europe, Asia Pacific; Central & South America. Middle East & Africa |
Country coverage |
U.S., UK, Germany, China, India, Brazil |
Key companies profiled |
TerraVia Holdings, Inc, Diversified Energy Corporation, Algix, LLC, Cellana Inc. |
The scope of customization |
With purchase, you get free report customization (equivalent to up to 8 analysts working day) You can add or modify country, region and segment scope. |
Prices and purchase options |
You can get customized purchase options that meet your research needs. Explore your purchase options |
The report covers segments
This report predicts revenue growth at the global, regional and country levels. It also provides analysis on the most recent trends and opportunities in each sub-segment from 2014 through 2025. Grand View Research has divided the market for algae oil on the basis grade, region, and application.
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Grade Outlook (Volume of Gallons; Revenues, USD Millions; 2014-2025)
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Fuel Grade
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Food Grade
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Feed Grade
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Application Outlook (Volume of Gallons; Revenues, USD Million; 2014-2025)
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Biofuel
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Supplement for Diet
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Food & Beverage
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Animal Feed
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Regional Outlook (Volumes, Gallons, Revenues, USD Million; 2014-2025)
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North America
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U.S.
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Europe
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UK
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Germany
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Asia Pacific
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China
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India
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South & Central America
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Brazil
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Middle East and Africa
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These are the most frequently asked questions about this report
What is the market size for algae oil?b. Global market for algae oil was valued at USD 1.63 billion in 2019, and is forecast to grow to USD 2.09 billion by 2020.
What is the growth rate of the algae oil market?b. Global Alga Oil Market is expected to grow at a compound annual rate of 4.3% between 2019 and 2025, reaching USD 2.09 billion in 2025.
Which segment had the largest share of the algae oil market?b. With a 51.5% share in 2019, fuel grade dominated the market for algae oil. This can be attributed to factors like environmental benefits and rich source of omega 3.
What are the major players in the algae oil market?b. TerraVia Holdings, Inc, Diversified Energy Corporation, Algix, LLC, Cellana Inc. are some of the key players in the alg oil market.
What are the driving factors for the algal oil market?b. b.
Up Market Research published a new report titled “Algae Oil Market research report which is segmented by Application (Biofuel, Animal Feed, F&B, Dietary Supplement), by Grade (Feed, Fuel, Food), By Players/Companies TerraVia Holdings, Diversified Energy Corporation, LLC, Cellana IncIntense competition has made producers focus on the affordable pricing structure, Inc, Algix, integrated supply chain, companies have been investing in integrating the supply chain to maintain market share along with a focus on sustainable growth, product quality differentiation Hence”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Scope
Report Attributes | Report Details |
Report Title | Algae Oil Market Research Report |
By Application | Biofuel, Animal Feed, F&B, Dietary Supplement |
By Grade | Feed, Fuel, Food |
By Companies | TerraVia Holdings, Diversified Energy Corporation, LLC, Cellana IncIntense competition has made producers focus on the affordable pricing structure, Inc, Algix, integrated supply chain, companies have been investing in integrating the supply chain to maintain market share along with a focus on sustainable growth, product quality differentiation Hence |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 214 |
Number of Tables & Figures | 150 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
Global Algae Oil Market Report Segments:
The market is segmented by Application (Biofuel, Animal Feed, F&B, Dietary Supplement), by Grade (Feed, Fuel, Food).
Algae Oil Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
- Industry drivers, restraints, and opportunities covered in the study
- Neutral perspective on the market performance
- Recent industry trends and developments
- Competitive landscape & strategies of key players
- Potential & niche segments and regions exhibiting promising growth covered
- Historical, current, and projected market size, in terms of value
- In-depth analysis of the Algae Oil Market
Overview of the regional outlook of the Algae Oil Market:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
Highlights of The Algae Oil Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of Algae Oil Market.
- Historical data and forecast.
- Estimations for the forecast period 2028.
- Developments and trends in the market.
1. Biofuel
2. Animal Feed
3. F&B
4. Dietary Supplement
7. By Grade:1. Feed
2. Fuel
3. Food
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Algae Oil Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
Reasons to Purchase the Algae Oil Market Report:
- The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
- Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
- Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
- The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
- Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Algae Oil Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Algae Oil Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Algae Oil Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Algae Oil Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Algae Oil Market Size & Forecast, 2018-2028
4.5.1 Algae Oil Market Size and Y-o-Y Growth
4.5.2 Algae Oil Market Absolute $ Opportunity
Chapter 5 Global Algae Oil Market Analysis and Forecast by Application
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Application
5.1.2 Basis Point Share (BPS) Analysis by Application
5.1.3 Absolute $ Opportunity Assessment by Application
5.2 Algae Oil Market Size Forecast by Application
5.2.1 Biofuel
5.2.2 Animal Feed
5.2.3 F&B
5.2.4 Dietary Supplement
5.3 Market Attractiveness Analysis by Application
Chapter 6 Global Algae Oil Market Analysis and Forecast by Grade
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Grade
6.1.2 Basis Point Share (BPS) Analysis by Grade
6.1.3 Absolute $ Opportunity Assessment by Grade
6.2 Algae Oil Market Size Forecast by Grade
6.2.1 Feed
6.2.2 Fuel
6.2.3 Food
6.3 Market Attractiveness Analysis by Grade
Chapter 7 Global Algae Oil Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Algae Oil Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Algae Oil Analysis and Forecast
9.1 Introduction
9.2 North America Algae Oil Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Algae Oil Market Size Forecast by Application
9.6.1 Biofuel
9.6.2 Animal Feed
9.6.3 F&B
9.6.4 Dietary Supplement
9.7 Basis Point Share (BPS) Analysis by Application
9.8 Absolute $ Opportunity Assessment by Application
9.9 Market Attractiveness Analysis by Application
9.10 North America Algae Oil Market Size Forecast by Grade
9.10.1 Feed
9.10.2 Fuel
9.10.3 Food
9.11 Basis Point Share (BPS) Analysis by Grade
9.12 Absolute $ Opportunity Assessment by Grade
9.13 Market Attractiveness Analysis by Grade
Chapter 10 Europe Algae Oil Analysis and Forecast
10.1 Introduction
10.2 Europe Algae Oil Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Algae Oil Market Size Forecast by Application
10.6.1 Biofuel
10.6.2 Animal Feed
10.6.3 F&B
10.6.4 Dietary Supplement
10.7 Basis Point Share (BPS) Analysis by Application
10.8 Absolute $ Opportunity Assessment by Application
10.9 Market Attractiveness Analysis by Application
10.10 Europe Algae Oil Market Size Forecast by Grade
10.10.1 Feed
10.10.2 Fuel
10.10.3 Food
10.11 Basis Point Share (BPS) Analysis by Grade
10.12 Absolute $ Opportunity Assessment by Grade
10.13 Market Attractiveness Analysis by Grade
Chapter 11 Asia Pacific Algae Oil Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Algae Oil Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Algae Oil Market Size Forecast by Application
11.6.1 Biofuel
11.6.2 Animal Feed
11.6.3 F&B
11.6.4 Dietary Supplement
11.7 Basis Point Share (BPS) Analysis by Application
11.8 Absolute $ Opportunity Assessment by Application
11.9 Market Attractiveness Analysis by Application
11.10 Asia Pacific Algae Oil Market Size Forecast by Grade
11.10.1 Feed
11.10.2 Fuel
11.10.3 Food
11.11 Basis Point Share (BPS) Analysis by Grade
11.12 Absolute $ Opportunity Assessment by Grade
11.13 Market Attractiveness Analysis by Grade
Chapter 12 Latin America Algae Oil Analysis and Forecast
12.1 Introduction
12.2 Latin America Algae Oil Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Algae Oil Market Size Forecast by Application
12.6.1 Biofuel
12.6.2 Animal Feed
12.6.3 F&B
12.6.4 Dietary Supplement
12.7 Basis Point Share (BPS) Analysis by Application
12.8 Absolute $ Opportunity Assessment by Application
12.9 Market Attractiveness Analysis by Application
12.10 Latin America Algae Oil Market Size Forecast by Grade
12.10.1 Feed
12.10.2 Fuel
12.10.3 Food
12.11 Basis Point Share (BPS) Analysis by Grade
12.12 Absolute $ Opportunity Assessment by Grade
12.13 Market Attractiveness Analysis by Grade
Chapter 13 Middle East & Africa (MEA) Algae Oil Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Algae Oil Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Algae Oil Market Size Forecast by Application
13.6.1 Biofuel
13.6.2 Animal Feed
13.6.3 F&B
13.6.4 Dietary Supplement
13.7 Basis Point Share (BPS) Analysis by Application
13.8 Absolute $ Opportunity Assessment by Application
13.9 Market Attractiveness Analysis by Application
13.10 Middle East & Africa (MEA) Algae Oil Market Size Forecast by Grade
13.10.1 Feed
13.10.2 Fuel
13.10.3 Food
13.11 Basis Point Share (BPS) Analysis by Grade
13.12 Absolute $ Opportunity Assessment by Grade
13.13 Market Attractiveness Analysis by Grade
Chapter 14 Competition Landscape
14.1 Algae Oil Market: Competitive Dashboard
14.2 Global Algae Oil Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 TerraVia Holdings
14.3.2 Diversified Energy Corporation
14.3.3 LLC
14.3.4 Cellana IncIntense competition has made producers focus on the affordable pricing structure
14.3.5 Inc
14.3.6 Algix
14.3.7 integrated supply chain
14.3.8 companies have been investing in integrating the supply chain to maintain market share along with a focus on sustainable growth
14.3.9 product quality differentiation Hence