SAN FRANCISCO, March 27, 2017 /PRNewswire/ --
The global algae oil market is expected to reach USD $2.09 billion by 2025, according to a new report by Grand View Research, Inc. Rising algae oil use in biofuel applications such as biodiesel, jet fuel, aviation fuel, and gasoline, will augment growth over the next nine years.
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The algae oil is being employed in food & beverage applications as a natural source of omega-3, fatty acids, antioxidants, and proteins. Rising demand from the food & beverage sector on account of its low fat content is expected to have positive impact on the market. Growing awareness about the naturally obtained supplements is expected to fuel its demand in the dietary supplement market which in turn will fuel the overall market growth.
Rising demand from the animal feed sector can be attributed to its higher nutritional content as compared to the grain feed. The algae production & harvesting requires comparatively lower amount of water & land as compared to the land crops grown for animal feed. These factors would cumulatively drive the market from 2015 to 2025.
However, the higher price of algae oil than conventional oil may challenge the market growth over the forecast period. Apart from this, specific parameters required for the growth of algae, which imply a high production cost, results in increased product price. These factors may restrain the industry development over the forecast period.
Browse full research report with TOC on "Algae Oil Market Analysis, By Grade (Fuel, Food, Feed), By Application (Biofuel, Dietary Supplement, F&B, Animal Feed), By Region (North America, Europe, Asia Pacific, South & Central America & MEA), And Segment Forecasts, 2014 - 2025" at: http://www.grandviewresearch.com/industry-analysis/algae-oil-market
Further key findings from the report suggest:
Browse related reports by Grand View Research:
Grand View Research has segmented the global algae oil market on the basis of grade, application and region:
Read Our Blog: Algae Oil: A potential alternative for conventional oil
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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Grand View Research, Inc
Phone: 1-415-349-0058
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Email: sales@grandviewresearch.com
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