Algal oil, also known as microalgae oil, is derived from microalgae, which are a diverse group of aquatic, photosynthetic microorganisms. Algal oil is a rich source of omega-3 fatty acids, which are essential for human health. Algal oil is also used in various applications, including dietary supplements, food and beverages, and biofuels. The global algal oil market is expected to grow at a significant rate due to the growing demand for plant-based products and the increasing awareness of the health benefits of omega-3 fatty acids.
Plant-Based Products Driving Market Growth
The growing demand for plant-based products is a major factor driving the growth of the algal oil market. Plant-based products are becoming increasingly popular due to various reasons such as health and environmental concerns. According to a report by PMR the Algal Oil Market size was valued at USD 12.69 billion in 2018 and is expected to grow at a CAGR of 11.9% from 2019 to 2025. The report also states that the increasing adoption of veganism and flexitarianism is expected to drive the demand for plant-based products. Algal oil is used as a plant-based alternative to fish oil, which is traditionally used as a source of omega-3 fatty acids. The increasing demand for plant-based products is expected to drive the growth of the algal oil market.
Health Benefits of Omega-3 Fatty Acids
The health benefits of omega-3 fatty acids are well-known, and this has led to an increased demand for algal oil. Omega-3 fatty acids are essential for human health, and they play a crucial role in maintaining cardiovascular health, brain function, and eye health. Omega-3 fatty acids are also known to reduce inflammation in the body, which can help prevent chronic diseases such as heart disease, cancer, and arthritis. Algal oil is a rich source of omega-3 fatty acids, and it is a plant-based alternative to fish oil, which is traditionally used as a source of omega-3 fatty acids. The growing awareness of the health benefits of omega-3 fatty acids is expected to drive the growth of the algal oil market.
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