Global Algae Oil Market to Reach US$ 2.8 Billion by 2032, Impelled by Rising Health Consciousness Among Consumers

June 17, 2022 | Food & Beverages

The latest report by IMARC Group, titled “Algae Oil Market Report by Grade (Fuel Grade, Food Grade, Feed Grade), Distribution Channel (Direct Sales, Supermarkets and Hypermarkets, Specialty Stores, Pharmacy, Online), Application (Biofuel, Dietary Supplement, Food and Beverage, Animal Feed, and Others), and Region 2024-2032,” finds that the global algae oil market size reached US$ 2.0 Billion in 2023. Algae oil is an oil extracted from certain marine algae. It is rich in animal-free omega-3 fatty acids, including eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA). It offers several health benefits, such as lowering cholesterol levels, regulating blood pressure, minimizing the risk of stroke or heart attack, reducing inflammation, promoting low triglyceride levels, and improving vision among individuals with retinitis pigmentosa. It is widely utilized as a stabilizing agent in preparing ice creams, pet food, and other food supplements. Moreover, since algae oil is an excellent source of minerals and vitamins, it is used along with other fatty acids for fortifying foods and baby and infant formulas.

Global Algae Oil Market Trends:

The rising health consciousness among consumers and the surging awareness regarding the health benefits of algae oil represent the primary factors driving the market growth. In addition, since omega-3 fatty acids are generally obtained from animal sources, the shifting consumer inclination toward a vegetarian diet is another major growth-inducing factor. Besides this, the widespread availability of cooking oils, nutrition bars, juices, milk, yogurts, salad dressings, marinades, and other foods fortified with algae oil has catalyzed market growth. Furthermore, with the growing environmental concerns and depleting fossil fuels, algae oil is gaining traction as a renewable biofuel due to its low carbon footprint and sustainability. In line with this, the introduction of stringent government regulations to control greenhouse gas (GHG) emissions and promote energy conservation has accelerated the product adoption rate. Moreover, the emerging applications of algae oil in manufacturing DHA-based capsules to relieve intraocular pressure in individuals suffering from macular degeneration, an age-related vision loss disorder, are positively influencing the market growth. Other factors, including the escalating demand for functional foods and nutraceuticals, rising product adoption in animal feed, changing consumer lifestyle preferences, and extensive research and development (R&D) activities, are also creating a positive market outlook. Looking forward, IMARC Group expects the market value to reach US$ 2.8 Billion by 2032, growing at a CAGR of 3.8% during the forecast period (2024-2032).

Market Summary:

  • Based on the grade, the market has been categorized into fuel, food, and feed grades. 
  • On the basis of the distribution channel, the market has been divided into direct sales, supermarkets and hypermarkets, specialty stores, pharmacy, and online. 
  • Based on the application, the market has been classified into biofuel, dietary supplement, food and beverage, animal feed, and others. 
  • Region-wise, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the market has also been analyzed, with some of the key players being Algae Floating Systems Inc., Algae Production Systems, Alltech, Inc., Cargill Incorporated, Cellana Inc., Corbion N.V., Cyanotech Corporation, Koninklijke DSM N.V., Lonza Group AG, Pond Technologies Inc., and Renewable Algal Energy LLC (RAE).

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Grade, Distribution Channel, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Algae Floating Systems Inc., Algae Production Systems, Alltech, Cargill Incorporated, Cellana Inc., Corbion N.V , Cyanotech Corporation, Koninklijke DSM N.V., Lonza Group AG, Pond Technologies Inc. and Renewable Algal Energy LLC (RAE)
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

30 N Gould St, Ste R
Sheridan, WY 82801, USA
Americas: +1 631 791 1145 | Europe & Africa: +44-753-713-2163 | Asia: +91-120-433-0800

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
  • Include additional segments and countries to customize the report as per your requirement.
  • Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  • For further assistance, please connect with our analysts.
Global Algae Oil Market to Reach US$ 2.8 Billion by 2032, Impelled by Rising Health Consciousness Among Consumers
Purchase options

Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Get in Touch With Us

Phone: +1-631-791-1145


Phone: +91-120-433-0800


Phone: +44-753-714-6104


Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Greenfish S.A.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More