PUBLISHER: DataM Intelligence | PRODUCT CODE: 1279684
PUBLISHER: DataM Intelligence | PRODUCT CODE: 1279684
Global Algae Fats Market - 2023-2030
Market Overview
The Global Algae Fats Market reached US$ 290.2 million in 2022 and is projected to witness lucrative growth by reaching up to US$ 435.3 million by 2030. The market is growing at a CAGR of 5.2% during the forecast period (2023-2030).
The global algae fats market is a rapidly growing sector that offers various opportunities for manufacturers, consumers and investors. The key factors driving the growth of this market are the increasing demand for sustainable and renewable energy sources, the rising awareness about the health benefits of omega-3 fatty acids and the growing adoption of plant-based diets among consumers. The market for algae fats is still in its early stages, but it is expected to grow rapidly in the coming years as more companies look for sustainable alternatives to traditional fats.
Market Dynamics
The Rising Trend Towards Clean Labels and Natural Ingredients Drives the Market Growth
In the food industry, the term "clean label" refers to products that are made with simple, recognizable ingredients and do not contain synthetic additives. Algae fats are a rich source of healthy omega-3 fatty acids, which are considered natural and healthy ingredients.
This makes algae fats an attractive option for companies that are looking to develop products that meet consumer demand for healthier and more sustainable food options.
Advancements in Technology and Extraction Methods Drive the Market Growth
The development of new and more efficient methods for extracting and processing algae fats has made them more accessible and cost-effective for food manufacturers. The advancements in technology have enabled the development of more sustainable production methods, such as closed-system photobioreactors, which offer a more environmentally-friendly source of algae fats, which are factors expected to drive the global algae fats market.
COVID-19 Impact Analysis
The pandemic has also led to significant economic uncertainties, which have impacted the overall growth of the market. The closure of food service outlets and reduced consumer spending have also affected the demand for algae fats in certain market segments. However, the shift in consumer preferences towards plant-based and natural ingredients has created opportunities for companies to develop and launch new products incorporating algae fats, which are led to an increase the market demand.
Ukraine-Russia War Impact Analysis
The conflict between Ukraine and Russia has disrupted the supply and demand of algae fat, a valuable ingredient for many industries. Algae fat is mainly produced in the Black Sea region, which is now under threat of military escalation. This has caused a global shortage and a spike in prices for algae fat products.
Artificial Intelligence Impact Analysis
Artificial Intelligence (AI) can be used to improve sustainability in the algae fats industry by optimizing resource utilization and reducing waste. AI has the potential to revolutionize the algae fats industry, creating opportunities for companies to improve efficiency, reduce costs and develop innovative and sustainable products that meet the evolving needs of consumers.
Segment Analysis
The global algae fats market is segmented based on grade, application, and region.
Increasing Consumption of Algae Fats in Biofuels
Biofuels dominated the global algae fat market in 2022. Algae fat is a renewable and sustainable source of energy that can be used for various applications. Biofuels accounted for more than 60% of the total algae fat consumption, followed by food and feed, cosmetics and pharmaceuticals. The high demand for biofuels was driven by environmental concerns, government policies and cost advantages.
Geographical Analysis
The Strong Presence of Vendors in North America
North America region dominated the global algae fats market in 2022. This can be attributed to the high demand for algae fat from various end-use industries such as food and beverages, cosmetics, pharmaceuticals and biofuels in the region. Moreover, the presence of leading algae fat producers and suppliers in North America also contributed to its market dominance.
Competitive Landscape
The major global algae fats market players include: DSM, Polaris, Lonza Group Ltd., Evonik Industries AG, Cellana, Cargill Inc., Algix, Cyanotech, Corbion Biotech and BASF.
Why Purchase the Report?
- To visualize the global algae fats market segmentation based on grade, application, and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of algae fats market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as Excel consisting of key products of all the major players.
The Global Algae Fats Market Report Would Provide Approximately 53 Tables, 49 Figures and 102 Pages.
Target Audience 2023
- Manufacturers / Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
Table of Contents
1. Methodology and Scope
- 1.1. Research Methodology
- 1.2. Research Objective and Scope of the Report
2. Definition and Overview
3. Executive Summary
- 3.1. Snippet by Grade
- 3.2. Snippet by Application
- 3.3. Snippet by Region
4. Dynamics
- 4.1. Impacting Factors
- 4.1.1. Drivers
- 4.1.1.1. Growing awareness of the health benefits of omega-3 fatty acids drives the market growth
- 4.1.2. Restraints
- 4.1.2.1. The high cost of production hampers the market growth
- 4.1.3. Opportunity
- 4.1.3.1. Increasing demand for plant-based and sustainable ingredients drives the market growth
- 4.1.4. Impact Analysis
- 4.1.1. Drivers
5. Industry Analysis
- 5.1. Porter's Five Force Analysis
- 5.2. Supply Chain Analysis
- 5.3. Pricing Analysis
- 5.4. Regulatory Analysis
6. COVID-19 Analysis
- 6.1. Analysis of COVID-19
- 6.1.1. Before COVID-19 Scenario
- 6.1.2. Present COVID-19 Scenario
- 6.1.3. Post COVID-19 or Future Scenario
- 6.2. Pricing Dynamics Amid COVID-19
- 6.3. Demand-Supply Spectrum
- 6.4. Government Initiatives Related to the Market During the Pandemic
- 6.5. Manufacturers' Strategic Initiatives
- 6.6. Conclusion
7. By Grade
- 7.1. Introduction
- 7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Grade
- 7.1.2. Market Attractiveness Index, By Grade
- 7.2. Food Grade*
- 7.2.1. Introduction
- 7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 7.3. Feed Grade
- 7.4. Fuel Grade
8. By Application
- 8.1. Introduction
- 8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 8.1.2. Market Attractiveness Index, By Application
- 8.2. Food and Beverages*
- 8.2.1. Introduction
- 8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 8.3. Biofuels
- 8.4. Dietary Supplements
- 8.5. Pharmaceuticals
- 8.6. Others
9. By Region
- 9.1. Introduction
- 9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
- 9.1.2. Market Attractiveness Index, By Region
- 9.2. North America
- 9.2.1. Introduction
- 9.2.2. Key Region-Specific Dynamics
- 9.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Grade
- 9.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 9.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 9.2.5.1. The U.S.
- 9.2.5.2. Canada
- 9.2.5.3. Mexico
- 9.3. Europe
- 9.3.1. Introduction
- 9.3.2. Key Region-Specific Dynamics
- 9.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Grade
- 9.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 9.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 9.3.5.1. Germany
- 9.3.5.2. The UK
- 9.3.5.3. France
- 9.3.5.4. Italy
- 9.3.5.5. Spain
- 9.3.5.6. Rest of Europe
- 9.4. South America
- 9.4.1. Introduction
- 9.4.2. Key Region-Specific Dynamics
- 9.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Grade
- 9.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 9.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 9.4.5.1. Brazil
- 9.4.5.2. Argentina
- 9.4.5.3. Rest of South America
- 9.5. Asia-Pacific
- 9.5.1. Introduction
- 9.5.2. Key Region-Specific Dynamics
- 9.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Grade
- 9.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 9.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 9.5.5.1. China
- 9.5.5.2. India
- 9.5.5.3. Japan
- 9.5.5.4. Australia
- 9.5.5.5. Rest of Asia-Pacific
- 9.6. Middle East and Africa
- 9.6.1. Introduction
- 9.6.2. Key Region-Specific Dynamics
- 9.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Grade
- 9.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
10. Competitive Landscape
- 10.1. Competitive Scenario
- 10.2. Market Positioning/Share Analysis
- 10.3. Mergers and Acquisitions Analysis
11. Company Profiles
- 11.1. DSM*
- 11.1.1. Company Overview
- 11.1.2. Product Portfolio and Description
- 11.1.3. Financial Overview
- 11.1.4. Key Developments
- 11.2. Polaris
- 11.3. Lonza Group Ltd.
- 11.4. Evonik Industries AG
- 11.5. Cellana
- 11.6. Cargill Inc.
- 11.7. Algix
- 11.8. Cyanotech
- 11.9. Corbion Biotech
- 11.10. BASF
LIST NOT EXHAUSTIVE
12. Appendix
- 12.1. About Us and Services
- 12.2. Contact Us
