Major players are focusing on investing in improving distribution and supply chains to consolidate their regional presence.
DUBAI, UAE / ACCESSWIRE / December 9, 2020 / Future Market Insights: The algae fats market is anticipated to reflect sturdy expansion over the forecast period, 2020-2030. Increasing awareness about health benefits amid health-care practitioners and consumers, largely based on solutions for lifestyle based diseases fuels long-term growth. The market is also fueled by demand in animal feed formulations and biofuels along with usage in dietary applications regarding enhancing immunity amid the COVID-19 pandemic.
"Algae fats are natural sources of protein, omega-3 fatty acids, and antioxidants, which is a primarily fueling implementation as dietary supplement ingredients. Consequently, algae fats are notably gaining popularity amid health-conscious customers worldwide.," says an FMI analyst.
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Algae Fats Market - Key Highlights
- South Asia & Pacific region trailed by the MEA region will be reflecting positive growth prospects in the market.
- Feed grade type will foresee relatively increased sales, fueled by innovations in personalized formulations for animal nutritional products.
- Food and beverage applications, pertaining mainly to edible oils is gaining traction due to growing for demand for healthier ingredients.
Algae Fats Market - Drivers
- Rising health awareness amid consumers is slated to fuel growth.
- Niche applications in the pharmaceutical and animal nutrition sectors are driving the demand in recent years.
- Depletion of fossil fuel reserves and environmental concerns are expected to benefit the industry.
Algae Fats Market - Restraints
- Higher production cost associated in the industry operations is primary restraining implementation of algae fat products.
- Dearth of adequately skilled professionals and complication of production processes can negatively impact market growth.
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COVID-19 Impact on the Market
The COVID-19 outbreak has largely affected the global economy due to limitations on industry and business in varied sectors. On the other hand, on the basis of fortified foods, pharmaceuticals and supplements, the demand for algae fats is projected to increase amid the crisis boosting market growth for the short term. FMI analysts in their report stated that the market will exhibit healthy, steady growth with splayed scope of usage in nutritional supplements.
Competitive Landscape
Key players identified in the algae fats market are Novosana Co. Ltd., Thrive Algae, Polaris, Simris ALG AB, Evonik Industries AG, Lonza Group Ltd., Cargill Inc., Cellana, DSM, Algix, Corbion Biotech, Cyanotech, Archer Daniels Midland Company, and BASF. Market players have majorly invested in improving product portfolios for commercialization with research into extending the scope of applications, as well as strategic collaborations to attain significance for long-term market opportunities.
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About the Study
The study offers readers a comprehensive assessment of the algae fats market. Global, regional and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights on the basis of type (food grade and feed grade), application (biofuel, dietary supplements, and animal feed), and distribution channels (e-commerce, specialty retailers, supermarket/hypermarket, and others), across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).
Table Of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Product Evolution Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Taxonomy
2.2. Market Definition
3. Key Market Trends
3.1. Key Trends In the Market
3.1.1. Trend of Growing Consciousness About Grooming Among Consumers
3.1.2. Product Premiumization
3.1.3. Consumers Selecting for At-home Services, Using e-Commerce
3.1.4. Rise in Dairy Trial Ups Consumption
3.1.5. Changing Retail landscape
3.1.6. Packaging, A Key To Brand Differentiation For Food & Nutrition
3.1.7. Globalization Impacting Lifestyles
3.2. Product Innovation Trends
3.2.1. Companies Increasingly Spending on R&D and Stepping Up Innovation
3.2.2. Growing Consumer Interest in Multifunctional Products
3.2.3. Prominent Players are Now Diversifying Into other Profitable Segments
3.2.4. Evolution in Product Design
3.3. Future Prospects of Food and Nutrition Industry
3.3.1. Factors Fuelling Growth
3.3.2. Influx of Brands
3.3.3. Innovative Distribution & Marketing Strategies
4. Risk and Opportunities in The Market
4.1. Associated Risk
4.1.1. Regulatory Landscape Associated Risk
4.1.2. Standard & Certification Risk
4.1.3. Risk of Alternatives & Advanced Technology
4.2. Opportunities
4.2.1. Niche Within The Existing Product Line
4.2.2. Opportunities In New Product Categories
4.2.3. Latent Opportunities In Established Market
4.3. Key Regulations & Industrial Standards
4.3.1. Rules & Regulations By Countries
4.3.2. Natural Ingredients Overview
4.3.3. Pre-Market Approval
4.3.4. Regulations With Respect To Imports
4.3.5. Labelling Aspects for Food and Nutrition
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About Future Market Insights
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SOURCE: Future Market Insights