Algae Oil Market Share Worth $2.2 Billion by 2027 - New Research Report by IndustryARC

Augmenting Consumption of Meat and Dairy Products is Anticipated to Boost Algae Oil Market Demand

HYDERABAD, TELANGANA, INDIA, September 27, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Algae Oil Market size is estimated to reach $2.2 billion by 2027, growing at a CAGR of 4.3% during the forecast period 2022-2027. Algae oil can be delineated as oil fabricated from seaweed/marine algae. Algae oil has a variety of applications in animal feeds, nutraceuticals, foods, and medical drugs. Moreover, the oil extends tons of health benefits as it is a sound source of polyunsaturated fats like omega 3 fatty acids and omega 9 fatty acids. Eicosapentaenoic acid (EPA), docosahexaenoic acid (DHA), and alpha-linoleic acid (ALA) are the primary forms of omega-3. Present in algae oil that helps in improving retinitis pigmentosa (vision problem), inflammatory ailments, lower bad cholesterol levels, stabilize blood sugars, and prevent risks of cardiac unrest. Moreover, it has been proven to be of utmost usefulness in improving brain functions such as thinking skills. Being a prodigious source of energy, algae oil ensures the appropriate functioning of vital organs such as the heart, lungs, kidney, and liver. The algae oil market outlook is fairly captivating as several life-threatening ailments are roaming around the world. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

Click here to browse the complete report summary:
https://www.industryarc.com/Research/Algae-Oil-Market-Research-503631

Key takeaways:

1. Geographically, the North American Algae Oil Market accounted for the highest revenue share in 2021. The growth is owing to high after-tax income and health attentiveness. Furthermore, Asia-Pacific is poised to dominate the market over the period 2022-2027.

2. The increasing vegan population, spiking spread of acute and chronic illnesses, high malnutrition cases in Africa and Asia, and broadening demand for the nutritional diet are said to be preeminent drivers driving the growth of the Algae Oil Market. Harsh climate conditions are challenging the steady growth of algae and lack of cognizance among consumers living in pastoral areas, and COVID restrictions are the factors said to reduce the market growth.

3. Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Algae Oil Market report.

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https://www.industryarc.com/pdfdownload.php?id=503631

Segmental Analysis:

1. The growth is owing to widescale usage of algae oil in the preparation of dietary supplements and functional foods. Nutraceuticals along with the animal feed segment is estimated to be the fastest-growing segments with a CAGR of 5.1% over the forecast period 2022-2027.

2. The Algae Oil Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held the largest share with 37% of the overall market in 2021.

3. The Algae Oil Market based on distribution channels can be further segmented offline and online. The offline segment held the largest share in 2021. Offline medium of sales enjoys their wide-ranging presence in both developed and developing countries.

4. Online segment is estimated to be the fastest-growing segment with a CAGR of 5.6% over the forecast period 2022-2027. This growth is owing to sweeping digitalization and technological breakthroughs.

Competitive Landscape:

The top 5 players in the Algae Oil industry are -

1. DIC Corporation

2. Cargill Corporation

3. Bioprocess Algae

4. Alltech Company

5. Koninklijke DSM N.V.

Click on the following link to buy the Algae Oil Market Report:
https://www.industryarc.com/reports/request-quote?id=503631

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Related Reports:

A. Algae Protein Market
https://www.industryarc.com/Report/15474/algae-protein-market.html

B. Algae Biofuel Market
https://www.industryarc.com/Research/Algae-Biofuel-Market-Research-503633

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