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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.
Download Report Sample for Additional Information :
https://www.futuremarketinsigh....ts.com/reports/sampl
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
For More Information Click Here :
https://www.futuremarketinsigh....ts.com/reports/algae
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