PUBLISHER: The Business Research Company | PRODUCT CODE: 1414572
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414572
“Single Cell Oil Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on single cell oil market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for single cell oil? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The single cell oil market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Single-cell oil refers to edible oils produced by microorganisms such as algae, yeast, and fungi. These oils are highly desirable for biodiesel production due to their rapid production rates, minimal labor requirements, independence from seasonal and climatic fluctuations, and ease of scale-up for industrial processing.
The primary types of microorganisms used for single-cell oil production include bacteria, yeast, microalgae, and fungi. Bacteria, as single-celled microorganisms found in diverse environments such as soil and water, offer versatility and are categorized into different grades, including fuel oils, feed oils, and food oils. Single-cell oils derived from bacteria are processed from various raw materials such as sugarcane mills and agro-industrial wastes. They find applications in various sectors, serving as bio-fuel feedstock, substitutes for fish oil, functional oils, ingredients in animal feed, components of infant formula, and inputs for pharmaceutical products and aquaculture. The flexibility and multiple applications of single-cell oils make them a valuable and sustainable resource in various industries.
The single-cell oil market research report is one of a series of new reports from The Business Research Company that provides single-cell oil market statistics, including single-cell oil industry global market size, regional shares, competitors with a single-cell oil market share, detailed single-cell oil market segments, market trends and opportunities, and any further data you may need to thrive in the single-cell oil industry. This single-cell oil market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The single cell oil market size has grown exponentially in recent years. It will grow from $96.71 billion in 2023 to $123.93 billion in 2024 at a compound annual growth rate (CAGR) of 28.1%. The growth observed in the historic period can be attributed to several factors, including an increasing demand for nutritional supplements, a search for sustainable oil sources, a heightened focus on functional foods, the exploration of alternatives to fish oil, and the diverse applications of single-cell oils in the food industry. These drivers collectively contributed to the expansion of the single-cell oil market during that timeframe.
The single cell oil market size is expected to see exponential growth in the next few years. It will grow to $336 billion in 2028 at a compound annual growth rate (CAGR) of 28.3%. The anticipated growth in the forecast period is attributed to several factors, including the sustained expansion of the nutraceuticals market, increased biofuel production, the continual growth of the plant-based protein market, a rising demand for vegan products, and the expanding application of single-cell oils in personal care products. Notable trends expected in the forecast period encompass strategic partnerships and collaborations within the industry, the development of customized lipid profiles, advancements in fermentation processes, biotechnological innovations, and the commercialization of algal oils. These trends are poised to play a significant role in driving the growth of the single-cell oil market in the coming years.
The anticipated growth in the single-cell oil market is strongly driven by the increasing demand for biofuels. Biofuels, derived from renewable biological sources such as plants or animal waste, are gaining prominence due to factors such as the depletion of fossil fuel reserves, concerns over climate change, rapid urbanization, and growing worries about energy security. Biofuels are perceived as a sustainable and cost-effective alternative to traditional fossil fuels. Given the similarity in fatty acid composition and structure to plant oil, single-cell oils find application in the production of biodiesel. A notable forecast from the International Energy Agency (IEA) in 2021 indicates a global demand increase of approximately 41 billion liters, or 28%, for biofuels between 2021 and 2026. Hence, the rising demand for biofuels is poised to be a significant driver fueling the growth of the single-cell oil market.
The increasing demand for sustainable and renewable energy is expected to contribute significantly to the expansion of the single-cell oil market. Sustainable and renewable energy, sourced from elements naturally replenished on a human timescale with minimal environmental impact, aligns with the growing global emphasis on cleaner energy sources. Single-cell oils, with their diverse applications in renewable energy, particularly in the biofuels sector, are positioned to benefit from this trend. According to the International Renewable Energy Agency (IRENA) in March 2023, global renewable energy capacity increased by 10% in 2022, representing a 0.4% rise from the previous year. This upward trajectory in the demand for sustainable and renewable energy reinforces the positive growth outlook for the single-cell oil market.
Product innovation stands out as a prominent trend gaining traction in the single-cell oil market, with major players strategically focusing on the development of innovative products to enhance their market position. A notable example is the October 2022 launch of Norwegian herring fish oil by Grøntvedt Pelagic AS, a Norway-based producer of marinated herring. This new brand of Norwegian herring fish oil provides consumers with a high-quality and sustainable source of cetoleic acid. A distinctive feature of this product is its taste and smell-free nature, making it suitable for various applications, including food supplements, pet food, and pharmaceuticals.
Strategic partnerships have also become a prevalent approach among major companies in the single-cell oil market, particularly in promoting the use of biofuels. In July 2022, Neste Oyj, a Finland-based single-cell oil manufacturing company, announced a partnership with ALTEN and MAN Truck & Bus SE. This collaboration aims to enhance the shared understanding of the crucial role that biofuels play in sustainable transportation for people and goods. The partnership strengthens MAN's multi-biofuel strategy, with a focus on sustainable biofuels over fossil fuels due to their significant reduction in CO2 emissions and their ease of adoption in the short term. ALTEN, based in France, is a biofuel supplier, and MAN Truck & Bus SE is a Germany-based company specializing in commercial vehicles.
In August 2021, Lanxess AG, a Germany-based specialty chemicals company, acquired the microbial control business unit of International Flavors & Fragrances Inc. (IFF). With this acquisition, Lanxess solidifies its position among the top global suppliers of microbial control products. International Flavors & Fragrances Inc. (IFF), based in the United States, is known for its expertise in microbial oils. This strategic move enhances Lanxess's capabilities in the microbial control segment.
Major companies operating in the single cell oil market report are Royal DSM N.V., Goerlich Pharma GmbH, DIC Corporation, Cellana Inc., Cargill Incorporated, Alltech Inc., Xiamen Huison Biotech Co. Ltd., Qingdao Seawit Life Science Co. Ltd., Bioriginal Food & Science Corp., Novosana BV, Hubei Xinhe Biotechnology Co. Ltd., The Lubrizol Corporation, Corbion NV, Aurora Algae Inc., TerraVia Holdings Inc., Solazyme Inc., Algix LLC, Sapphire Energy Inc., Heliae Development LLC, Algenol Biofuels Inc., Blue Marble Biomaterials LLC, Elevance Renewable Sciences Inc., Solix Biofuels Inc., OriginOil Inc., Joule Unlimited Technologies Inc., Synthetic Genomics Inc., Genomatica Inc., LS9 Inc., Amyris Inc., Evolva SA, Solvay SA
Asia-Pacific was the largest region in the single-cell oil market in 2023. The regions covered in the single cell oil market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the single cell oil market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The single-cell oil market consists of sales of biofuel, biodiesel, food and feed supplements, cosmetics, and personal care supplements that are derived from microorganisms. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.