Single Cell Oil Market Size, Share, Future Growth, Challenges, 2024-2032
Market Overview:
The global single cell oil market size was valued at USD 57.90 million in 2023. The market is projected to grow from USD 67.36 million in 2024 to USD 338.51 million by 2032, exhibiting a CAGR of 22.36% during the forecast period.
Single cell oils, or microbial oils, are extracted from unicellular organisms such as yeasts, bacteria, fungi, and microalgae. They are classified as nutritional oils based on their fatty acid composition, with Omega-3 oils being particularly in demand due to their high nutritional value. Growing interest in microbial oil production is prompting manufacturers to create customized products for human consumption and biofuel production, reflecting the increasing market expansion.
List of Key Players Mentioned in the Report:
DSM-Firmenich (Netherlands)
Cellana (U.S.)
Corbion N.V. (Netherlands)
Algatech (Israel)
DIC Corporation (Japan)
Henry Lamotte Oils (Germany)
Algaecytes (U.K.)
Bioriginal Food & Science Corp (Canada)
ALGENOL (U.S.)
Chevron Corporation (U.S.)
Segmentation:
Filamentous Fungi and Yeasts Segment Dominates Due to its Easy Harvesting
Based on microorganism, the market is fragmented into bacteria, filamentous fungi and yeasts, and microalgae. Filamentous fungi and yeasts will exhibit the highest growth rate as they have the ability to adapt to changing climate and can be easily harvested.
Food supplements Segment Held a Dominant Share due to Increased Adoption
In terms of application, the market is classified into functional food, food supplements, cosmetics, biodiesel, aquaculture, and others. The food supplements segment captures the largest single cell oil market share owing to the rising uptake of products for the production of dietary supplements.
In terms of region, the market is categorized into Europe, North America, Asia Pacific, South America, and the Middle East & Africa.
Source: fortunebusinessinsights.com/single-cell-oil..
Report Coverage:
The report delves into the market, encompassing product types, leading applications of the product, and leading companies. It provides insights into trends, industry developments, and factors driving recent market growth. The report also highlights the impact of the COVID-19 on the market.
Drivers and Restraints:
Environment Sustainability of Microbial Oils in Comparison to Traditional Oilto Impel Market Growth
Concerns about the environmental impact of traditional oil and gas exploration are driving governments to implement stringent policies aimed at reducing greenhouse gas emissions, encouraging manufacturers to seek sustainable oil alternatives. Microbial oil presents a viable alternative that minimizes environmental impact, as microbes can be rapidly cultivated, have high oil content, and offer the potential for co-generating valuable by-products.
However, the need for a complicated production process, which requires precise control of heat and oxygen, contributes to the high costs of producing such products, hindering the single cell oil market growth.
Regional Insights:
Europe Dominates the Market Owing to Sustainable Innovation
Europe leads the global market, with a value of USD 25.58 million in 2023, driven by sustainable innovation such as DSM-Firmenich's algal oil, which serves as an eco-friendly alternative to fish oil in aquaculture.
North America is a key player in the global single cell oil market, with the U.S. and Canada being major adopters for industrial uses. Manufacturers are targeting these regions for expansion, as shown by Veramis’s 2024 approval from Canadian regulators to sell its algal oil after a three-year testing phase.
Competitive Landscape:
Industry Participants Focus on R&D Activitiesto Boost their Product Portfolio
The single cell oil market is highly fragmented, featuring numerous startups and small-scale manufacturers focused on R&D for the global market. Key players such as DIC Corporation, DSM-Firmenich, and Corbion N.V. are employing strategies such as new product launches, investment in clinical trials, and partnerships with industries to enhance production and expand their product offerings.
Key Industry Development:
April 2024: In a bid to promote sustainability, Cargill Canada collaborated with Cermaq and Veramaris to introduce algal oil as a feed alternative in Canada's aquaculture sector.