Algae fats are natural sources of protein, omega-3 fatty acids, antioxidants along with other vital nutrients including fats minerals, vitamins, and fiber. The algae fats are signficantly gaining prominence in global market owing to rich nutritional profile and are extensively used in production of dietary supplement. The significant growth owing to factors such as rising consciousness towards health and taste is expected to promote the demand for algae fats in global market.
MARKET SCOPE
The "Global Algae Fats Market Analysis to 2028" is a specialized and in-depth study of the food and beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the algae fats market with detailed market segmentation by type, end use, and geography. The report provides key statistics on the market status of the leading algae fats market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on type, the global algae fats market is segmented into food grade and feed grade.
- Based on end use, the global algae fats market is segmented into biofuel, dietary supplement, animal feed, and others.
MARKET DYNAMICS
Drivers:
- Shift in consumer eating patterns.
- Rise in disposable income along with expanding application bases and new product launches.
Restraints:
- High cost associated with production of algae fats.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The algae fats market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the algae fats market in these regions.
IMPACT OF COVID-19 ON ALGAE FATS MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The chemical & materials industry is one of the major industries suffering serious disruptions, such as supply chain breaks, technology events cancellations, and office shutdowns, as a result of this pandemic. The shutdown of various plants and factories in leading regions such as North America, Europe, Asia Pacific, South America, and the Middle East & Africa has affected the global supply chain and negatively impacted the manufacturing, delivery schedules, and sales of various goods. Furthermore, various companies have already announced possible delays in product deliveries and slump in future sales of their products.
MARKET PLAYERS
The report covers key developments in the algae fats market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from algae fats market are anticipated to lucrative growth opportunities in the future with the rising demand for algae fats in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the algae fats market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Algae Production Systems
- Archer Daniels Midland
- BASF SE
- Biotech
- Bunge
- Cargill Inc
- Corbion
- Cyanotech
- DSM
- Evonik Industries AG