"Innovative Market Solutions to Help Businesses Make Informed Decisions"

Algae Oil Market Size, Share & Industry Analysis, By Grade (Food Grade, Feed Grade, Fuel Grade) By Application (Food, Nutraceuticals, Feedstock, Biofuels Others) Others and Regional Forecast, 2024-2032

Region :Global | Report ID: FBI102127 | Status : Ongoing



The shifting focus of the world on the production of energy from renewable sources has led to numerous natural sources being explored. Algae oil is one such renewable source that is used as a fuel due to its low carbon footprint and fast regeneration property of algae, but the high cost of algaculture limits its commercial adaptation. Several companies and government agencies are targeting a reduction in the capital as well as operating expenses for making the production of algal oil commercially viable. Several stakeholders have opted for alga-culture, which uses land and water unsuitable for other uses.

Algae oil is considered to be a superfood, and hence it is used as a food ingredient. It is an excellent source of monounsaturated fatty acids (MUFA) and Omega-3 fatty acids. Additionally, algae oil is used as a feed ingredient in the farming of fish and seafood. Several novel applications of algae oil are under research, which includes usage in the manufacture of synthetic polymers, soaps & surfactants, and nutraceuticals.

Up Arrow

Key Market Driver -

Rising demand for functional foods and nutraceuticals

Down Arrow

Key Market Restraint -

Lack of awareness among people in the developing countries

The key market driver for algae oil market is the rising demand for functional foods and nutraceuticals, globally. Concerns over health and fitness are the preliminary factors influencing the consumers to consume food and food supplements that provide high nutritional profile and support dietary restrictions. Algae oil is rich in nutrients that are necessary for a healthy heart profile but also complies with dietary regulations such as vegan and gluten-free. These factors have provided a thrust to the demand for algae oil as a functional food and a nutraceutical.

The key market restraint for algae oil market is the lack of awareness among people in developing countries. Even though the companies are actively advertising the benefits of algae oil, people in the developing economies of Asia Pacific and Latin America are not fully aware of the benefits of algae oil, which results in the slow growth of the market.

Market Segmentation:

By grade, the market is segmented into food grade, feed grade, and fuel grade. Based on application, the market is segmented into food, nutraceuticals, feedstock, biofuels, and others.

From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Key Players Covered:

The major companies in the global algae oil market are Inventure Renewables Inc., Tom Algae C.V.B.A., A4F Algae for Future, British Algoil Ltd., Algabloom International, Pond technologies Inc., Algenol, Cellana Inc., Chevron Corporation, Culture BioSystems, TerraVia Holdings Inc., Exxon Mobil, Algae Floating Systems Inc., Algix LLC., Koninklijke DSM N.V., DIC Corporation, Bioprocess Algae LLC., Rishon Group, Corbion N.V., Algisys, Veramaris V.O.F., among others.

Key Insights

  • Key Emerging Trends – For Major Countries

  • Key Developments: Mergers, Acquisition, Partnership, etc.

  • Latest Technological Advancement

  • Insights on Regulatory Scenario

  • Porters Five Forces Analysis

Regional Analysis:

To gain extensive insights into the market, Request for Customization

The global market for algae oil is led by North America, which accounts for a major revenue share. This region is expected to maintain its lead during the forecast period owing to the considerable demand for biofuel. Major companies in the market are located in North America, and these companies carry out awareness programs related to algae oil as a superfood. Similarly, increasing government support for the development of renewable sources of energy in China has made Asia Pacific the second-largest market for algae oil. On the other hand, the European Union has allowed the application of micro-algae oil as a novel food in 2018, which shall open newer avenues for algae oil in Europe. As companies in Latin America and Middle East & Africa invest a large amount of their budget on product development and awareness creation, the algae oil market in these regions is expected to grow steadily during the forecast period.




By Grade

  • Food Grade

  • Feed Grade

  • Fuel Grade

By Application

  • Food

  • Nutraceuticals

  • Feedstock

  • Biofuels

  • Others

By Geography

  • North America (USA, Canada)

  • Europe (UK, Germany, France, Italy, Spain, and Rest of Europe)

  • Asia Pacific (China, India, Japan, South Korea, South East Asia, Rest of Asia Pacific)

  • Latin America (Brazil, Mexico, and Rest of Latin America)

  • Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)

Algae Oil: Key Industry Developments

  • In July 2019, Veramaris opened its algal oil facility in Nebraska with an investment of US$ 200 million, allowing it for commercial scale production of algal oil for use in aquaculture feed.

  • In October 2018, the U.S. Department of Energy funded the University of Michigan to develop algae as an efficient biofuel source for diesel engines.

  • In September 2018, Exxon Mobil announced extension of its algal oil production capability. The company targets production of 10,000 barrels of oil by 2025.

  • Ongoing
  • 2023
  • 2019-2022

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Chemicals & Materials Clients

LG Chem

Client Testimonials

“We are quite happy with the methodology you outlined. We really appreciate the time your team has spent on this project, and the efforts of your team to answer our questions.”

- One of the largest & renowned medical research centers based in the U.S. on a report on the U.S. NIPT Market.

“Thanks a million. The report looks great!”

- Feedback from a consultant on a report on the U.S. Beef Market.

“Thanks for the excellent report and the insights regarding the lactose market.”

- Brazil based company specializing in production of protein ingredients.

“I liked the report; would it be possible to send me the PPT version as I want to use a few slides in an internal presentation that I am preparing.”

- Global Digital Services Agency on a report on the Global Luxury Goods Market.

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.