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Sustainable Sourcing: The Key to Algae Oil's Success in the Market

According to Future Market Insights (FMI), the sales of algae oil are expected to surpass a value of US$ 3.1 Billion in 2032, rising at a CAGR of around 4.7% by the end of 2032.

One of the primary drivers driving the algae oil market growth is growing awareness of omega-3 fatty acid advantages, such as lowering the risk of cardiovascular disease (CVD) and encouraging low triglyceride levels.

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Additionally, because omega-3 fatty acids are frequently obtained from animal sources, the industry is seeing an increase in demand due to the vegetarianism movement. In addition, a lot of food businesses are selling products including milk, nutrition bars, yoghurt, marinades, salad dressings, and juices that have been supplemented with algae oil.

A major element driving the market for algae oil is also the rise in demand for dietary supplements brought on by rising awareness of weight management. According to FMI, the market for algae oil would expand throughout the projected period due to the desire for biofuels, which have a smaller carbon footprint.

Key Takeaways from the Algae Oil Market Study

In terms of grade, the feed grade segment is expected to dominate the global algae oil market over the forecast period.
Based on sales channel, online segment is projected to lead the algae oil market during the assessment period.
In 2021, the biofuel and dietary supplement application segments combined accounted for almost 60% of the share of global sales.
China is expected to lead the growth in East Asia algae oil market on the back of expansion of food & beverage industry.
In application category, the biofuel section is predicted to exhibit strong growth at a CAGR of 5.8% between 2022 and 2032

By Grade:

Feed Grade
Food Grade
Fuel Grade
By Application:

Food & Beverages
Animal Feed
Dietary Supplements
Pharmaceuticals
Personal care
Biofuels
Others
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From Microbes to Cheese: The Fermented Chymosin Market Unveiled

The global fermented chymosin market is expected to gather a revenue of nearly US$ 6.7 billion by 2032, up from US$ 4.6 billion in 2022. The market is said to register a CAGR of 3.5% during the forecast period of 2022 to 2032.

An enzyme that causes milk to coagulate, chymosin, is fermented and used to make cheese. Chymosin that has undergone fermentation and is as a result is an excellent coagulant. Aspergillus niger and Saccharomyces (Kluyveromyces) lactic are the most often used microbes for the manufacture of fermented chymosin. Some manufacturers make fermented chymosin using recombinant DNA techniques. The genes required to manufacture the chymosin enzyme are introduced into the bacteria, which are subsequently used to produce chymosin through the fermentation process.

The Increasing Vegan Population Drive the Demand for Fermented Chymosin

A Vegetarian Times study found that 3.2% of US adults, or about 7.3 million people, consume vegetarian food. Of the 7.3 billion individuals on the planet, one million do not consume any animal products. The number of vegans is increasing globally. The market for fermented chymosin is anticipated to grow as more people adopt flexitarian and vegan diets.

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The increasing demand for cheese is estimated to serve as a driver for the fermented chymosin market. The major concern of the cheese manufacturers is to optimize the texture, taste, whey value, and slice ability of cheese to fulfill the increasing requirements of the consumers. Thus, fermented chymosin serves as a suitable coagulant as it helps to improve the taste and texture of cheese. Also, as the health-awareness among the consumers is increasing the manufacturers are trying to develop fermented chymosin that helps to lower the salt content of cheese. The manufacturers of cheese have the opportunity to develop cheese with low salt content to attract health-conscious consumers.

The presence of various alternatives such as animal and microbial rennet is anticipated to hamper the sales of fermented chymosin. The microbial rennet is an excellent substitute as it is not derived from animals and provides similar important properties as that of fermented chymosin. But the rennet obtained from animal and microbial source can also cause unwanted accumulation of the by-products and further can lead to contamination of rennet, and thus, the cost for purification of rennet increases. Therefore, the manufacturers are using genetic engineering to insert the rennet genes and are inserting it into some fungi and bacteria to obtain chymosin using fermentation process. Also, the GMO (Genetically Modified Organisms) are killed after the fermentation process to avoid the contamination of fermented chymosin.

Fermented Chymosin Market: Regional Analysis

The demand for cheese is anticipated to increase in the Asia Pacific region, which is expected to boost the sales of fermented chymosin. The impact of Western culture, rise in disposable income, increase in demand for fast food, and large youth population is estimated to serve as a few drivers for the increase in the demand for cheese. Also, the vegan population is increasing at a high rate in the Asia Pacific. Thus, the increasing vegan population and demand for cheese are expected to create an opportunity for fermented chymosin manufacturers to establish themselves in the Asia Pacific region.

Cheese consumption is high in North America and Europe but the changes in consumer preferences are estimated to have a positive impact on the fermented chymosin market. In recent years, the consumer demand for products free from animal-derived ingredients is increasing, and thus, fermented chymosin is a good option as it is aligned with consumer requirements.

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Fermented Chymosin Market: Key Participants

Few key market players in the fermented chymosin market are:

Hansen A/S
Koninklijke DSM N.V.
Maysa G?da
Mayasan AS
Nelson-Jameson
The report covers an exhaustive analysis on:

Fermented chymosin Market Segments
Market Dynamics
Market Size
Supply and Demand
Current Trends/Issues/Challenges pertaining to fermented chymosin market
Competition Landscape and Emerging Market Participants in fermented chymosin market
Technology related to Production/Processing of fermented chymosin
Value Chain Analysis of the fermented chymosin market