Global Algal Oils Industry

Global Algal Oils Industry

  • April 2021 •
  • 184 pages •
  • Report ID: 6030643 •
  • Format: PDF
Abstract:
- Global Algal Oils Market to Reach $2.5 Billion by 2027
- Amid the COVID-19 crisis, the global market for Algal Oils estimated at US$986.6 Million in the year 2020, is projected to reach a revised size of US$2.5 Billion by 2027, growing at a CAGR of 14% over the analysis period 2020-2027. Dietary Supplements, one of the segments analyzed in the report, is projected to record a 14.1% CAGR and reach US$1.3 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Functional Food & Beverages segment is readjusted to a revised 15.2% CAGR for the next 7-year period.
- The U.S. Market is Estimated at $266 Million, While China is Forecast to Grow at 18.2% CAGR
- The Algal Oils market in the U.S. is estimated at US$266 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$554.8 Million by the year 2027 trailing a CAGR of 18.2% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.9% and 12.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 11% CAGR.
- Other End-Uses Segment to Record 12.7% CAGR
- In the global Other End-Uses segment, USA, Canada, Japan, China and Europe will drive the 11.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$204.5 Million in the year 2020 will reach a projected size of US$448.8 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$371.9 Million by the year 2027, while Latin America will expand at a 14.3% CAGR through the analysis period.

- Select Competitors (Total 43 Featured) -
  • Alltech, Inc.
  • Bioprocess Algae Llc
  • Cargill, Inc.
  • Cellana Llc
  • Cyanotech Corporation
  • DIC Corporation
  • Diversified Energy Corporation
  • Royal DSM NV
  • Seaweed Energy Solutions A/S
  • TerraVia Holdings, Inc.