- In October 2024, GC Rieber VivoMega will debut its new VivoMega Algal EPA+DHA ingredient at SupplySide West, and since its launch in March 2024, the company has doubled its expected algal production
- In March 2024, Veramaris completed the three-year registration process required to supply Canadian salmonid farming, and the approval allows Veramaris to provide MSC and ASC-certified DHA and EPA derived from its algal oil, a regional alternative to fish oil that supports the shift to alternative omega-3 sources in aquaculture
- In March 2024, biotechnology firm Checkerspot entered a joint agreement with AAK to develop, scale, and commercially produce an alternative source of oils and fats, and Checkerspot specializes in producing renewable oils through the fermentation of microalgae for food ingredients and performance products
- In May 2024, MegaFood, a Certified B Corporation and member of 1% for the Planet, launched Omega 3-6-9, a plant-powered complex featuring 600 mg of Omega-3, sourced from farm-traceable Ahiflower® and fish-free algae oil, and this product supports heart, brain, vision, and joint health while being environmentally conscious, coated with organic lemon oil to reduce aftertaste
- In June 2022, Fermentalg, an industrial biotechnology company, received European Novel Food authorization for its DHA-enriched oil, marking the company's first product launch aimed at the human nutrition market
Frequently Asked Questions
The key trends in the Algae Oil market include the increasing adoption of algae oil in aquaculture as a sustainable alternative to fish oil, the growing demand for plant-based omega-3s in dietary supplements, and the rising focus on reducing the environmental impact of oil production.
The major factors driving the growth of the Algae Oil market are increasing demand for sustainable and plant-based omega-3 sources, advancements in algae cultivation and oil extraction technologies, and rising consumer awareness regarding the environmental impact of traditional oils.
The major challenges in the Algae Oil market include high production costs, competition with alternative oils, and limited large-scale production capacity.
The Application (Biofuel) segment is expected to dominate the global Algae Oil market, holding a major market share in 2025.
Europe is expected to witness fastest growth in the algae oil market, driven by an increasing preference for plant-based health supplements and sustainable dietary options. The rising demand in the food and beverage sector, along with the expanding dietary supplement industry, is significantly contributing to this growth.
