Algae Fats Market Size
Projected to show more than 5% CAGR from 2023 to 2032, algae fats market size estimated USD 280 million in 2022.
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Growing nutritional needs and a fast change from animal-derived to plant-based supplements will drive business development. Consumer attitude for new algae-based Omega 3 fatty acid supplements has definitely changed recently. Consumed to cure cardiovascular disorders as well as to promote general health, algal oil is a high source of omega-3s. Among their several health advantages are anti-inflammatory ones that help reduce depression, rheumatoid arthritis, and age-related macular degeneration risk. It can also contribute to the moms' and young infants' health enhancement.
Algae Fats Market Report Attributes
| Report Attribute |
Details |
| Base Year |
2022 |
| Algae Fats Market Size in 2022 |
USD 280 Million |
| Forecast Period |
2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR |
5.2% |
| 2032 Value Projection |
USD 464.8 Million |
| Historical Data for |
2018 to 2022 |
| No. of Pages |
230 |
| Tables, Charts & Figures |
206 |
| Segments covered |
Type, Application |
| Growth Drivers |
- The growing demand for algae-based Omega 3 supplements is driving the market growth
- Rising demand owing to the different functional properties
|
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Algae Fats Market Analysis
With so many people choosing a plant-based diet, veganism is a common trend among European Union nations. Plant-based fats will be in more demand in Europe as vegan snacking, flexitarian lifestyles and dairy products become more and more popular. This increase is probably going to increase the use of algae in vegan diets, so helping the general expansion of the market for algal fuels.
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Between 2023 and 2032, food-grade algae fats market would expand at a 5.5% CAGR. Demand for dietary supplements is resulting from growing consumer awareness of holistic wellbeing and nutrition as well as predisposition toward it. Furthermore naturally occurring Omega-3, including DHA, must be obtained outside from foods include dairy products, grass-fed meat, cold-water fish, or eggs reared on a pasture. Food-grade algal oil is becoming more and more in demand as dietary intake declines, nutritional shortages abound, and plant-based nutraceuticals appeal more and more.
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Dietary supplement section of the algae fats market is expected to bring USD 126 million income in 2022. Pandemics, infectious disease outbreaks, and the growing frequency of chronic diseases have driven greater usage of dietary supplements meant to promote gut health and raise general immunity. Over the projection period, the expanding geriatric population globally will stimulate demand for dietary supplements.
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Europe algae fats market size dominated over USD 61.5 million in 2022. Europe is set to emerge as a hotpot for algae-based food products, dietary supplements, and nutraceuticals. Rapid penetration of trends such as vegan diets is fueling the demand for novel plant-based formulations. Moreover, the growing focus on biofuels to eliminate the environmental impact of conventional power systems and the carbon footprint associated with fossil fuels will boost the adoption of algal oils in the region.
Algae Fats Market Share
Some of the key companies include
Algae Fats Industry News
- In March 2023, Cargill entered an agreement with food tech startup Cubiq Foods to develop and commercialize novel plant-based fat technologies.
- In July 2022, Batory Foods, and DouxMatok, a food tech company, announced a commercial distribution agreement for the expansion of the product portfolio comprising cakes, protein bars, snacks, candy, cookies, chocolate, and spreads.
This algae fats market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilo Tons and revenue in USD Million from 2018 to 2032 for the following segments
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Market, By Type
- Food Grade
- Feed Grade
- Industrial Grade
Market, By Application
- Biofuel
- Dietary Supplement
- Animal Feed
- Poultry
- Swine
- Cattle
- Aquaculture
- Pet food
The above information has been provided for the following regions and countries
- North America
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Asia Pacific
- China
- India
- Japan
- Indonesia
- South Korea
- Malaysia
- Latin America
- Middle East & Africa
- UAE
- South Africa
- Saudi Arabia
