At a CAGR 6.2% Algae Derived Oil Market is expected to reach over USD 23.4 Billion by 2030

Algae-derived oil, also known as algal oil, is a type of renewable oil that is extracted from algae. Algal oil is rich in omega-3 fatty acids, which are important for human health and have various industrial applications.

Algae-derived oil Market  is driven by the growing demand for sustainable and renewable sources of oil, as well as the increasing awareness of the health benefits of omega-3 fatty acids. Algal oil is used in various industries, including food and beverages, dietary supplements, animal feed, and biofuels.

The algal oil market is segmented based on type, application, and geography. By type, the market is segmented into DHA (docosahexaenoic acid) oil, EPA (eicosapentaenoic acid) oil, and ARA (arachidonic acid) oil. By application, the market is segmented into dietary supplements, food and beverage, animal feed, and others.Geographically, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America is expected to be the largest market for algal oil, due to the increasing demand for omega-3 fatty acids in the region.

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Companies Covered in This Report –

• Archer Daniels Midland Company (ADM)
• Royal DSM
• Arizona Algal Products, LLC
• AlgiSys LLC
• Algalr NutraPharms Pvt. Ltd.
• Corbion
• Algarithm
• Progress Biotech
• Bioriginal Food & Science Corp.
• Lyxia Corporation
• LLC.
• Polaris
• Inlife Care
• Kauffman’s
• Meteoric Biopharmaceuticals Pvt. Ltd.
• Mara Corp.
• Fermentalg

Algae-Derived Oil Market Industry Research Categorization

• Algae-Derived Oil Market by Grade: Food Grade Algal Oil, Feed Grade Algal Oil, Fuel Grade Algal Oil
• Algae-Derived Oil Market by Nature: Organic Algal Oil, Conventional Algal Oil
• Algae-Derived Oil Market by Application: Food and Beverages, Personal Care and, Cosmetics, Pharmaceuticals, Animal Feed, Nutraceuticals, Biofuels
• Algae-Derived Oil Market by Region: North America Algal Oil Market, Latin America Algal Oil Market, Europe Algal Oil Market, South Asia & Pacific Algal Oil Market, East Asia Algal Oil Market, Middle East And Africa Algal Oil Market

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lobal algae-derived oil market size was valued at USD 1.4 billion in 2020 and is expected to grow at a CAGR of 4.2% from 2021 to 2028. The market is driven by the increasing demand for sustainable and renewable sources of oil, as well as the growing use of algal oil in dietary supplements and functional foods.

However, the high production costs of algal oil and the lack of large-scale commercial production facilities have limited the growth of the market. As a result, there is a need for more investment in research and development to improve the efficiency and reduce the production costs of algal oil.

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