Home > Pressrelease > Single Cell Oil Market size to hit $670 Mn by 2032
Single Cell Oil Market size to hit $670 Mn by 2032
- Published Date: March 6, 2023
Single Cell Oil Market size is anticipated to cross USD 670 million by 2032, according to a new research report by Global Market Insights Inc.
As per the report, strong demand for ingredients that help enhance the nutritional content of infant formulas is a key driver behind the market growth. In fact, recent studies have shown that single cell-derived LC-PUFAs have no adverse effects on the overall health and growth of infants. Conversely, DHA-rich single cell oil and ARA-rich single cell oil are potent sources of long-chain polyunsaturated fatty acids (LCPUFAs), the dietary supply of which has been shown to benefit pre-term infants. Single cell oils (SCOs) are also used as a lipid source in infant formulae, making them highly viable in the baby food field.
Strong demand from the biodiesel sector to impel fuel grade SCO segment expansion
Based on grade, single cell oil market from fuel segment is slated to reach USD 100 million by 2032, driven by its growing usage in biodiesel production. Owing to their similar composition and structure to plant oils, single cell oils have emerged as a highly attractive feedstock for sustainable biodiesel production. Biofuel is used extensively in industries such as heating, electricity generation, and transportation. It is a potential renewable energy source that can effectively reduce environmental contaminants such as atmospheric carbon dioxide, and wastewater. Fuel grade SCOs provide cost-effective production and purification of fuels of higher value and are ideal for a bio-based economy.
Higher degree of unsaturation to spur fungal micro-organisms segment demand
Based on micro-organisms, the single cell oil market from fungal segment will expand at over 18% CAGR between 2023 and 2032, fueled by the higher degree of unsaturation of fungal SCOs. The oils produced by filamentous fungi are ideal as starting materials for producing biodiesel. In fact fungal SCOs find substantial applications in the production of sustainable biodiesel as they can provide oils with similar properties as that vegetable oils.
Filamentous fungi are increasingly being used in the synthesis of single cell oil due to their hydrolyzing enzymes and distinctive pellet morphology, which aids the downstream harvesting process.
Browse key industry insights spread across 390 pages with 614 market data tables and 31 figures & charts from the report, “Single Cell Oil Market Size By Grade (Fuel grade, Feed grade, Food grade), By Micro-Organisms (Bacteria, Yeast, Microalgae, Fungal) By Raw Material (Sugarcane Mill, Agro-Industrial Waste), By Application (Bio-Fuel Feedstock, Fish Oil Substitute, Functional Oils, Animal Feed, Infant Formulae, Pharmaceutical Products, Aquaculture), Covid-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:
Fast production rates of SCOs to bolster bio-fuel feedstock application segment growth
With respect to application, the single cell oil market from bio-fuel feedstock applications was valued at more than USD 9 million in 2022, led by the fast production rates of bio-fuel feedstock. The lipids used in bio-fuel feedstock applications are not affected by seasonal and climatic conditions and have minimum labor requirements. Additionally, the SCOs production from these materials can easily be scaled-up for industrial processing, which makes them suitable for biodiesel production.
Growing vegetarian population to strengthen Asia Pacific single cell oil industry
Asia Pacific single cell oil market is expected to grow at over 17% CAGR from 2023 to 2032, spurred by the growing usage of SCOs as fish oil substitutes. In recent years, industries such as fish oil substitutes, infant formula, and functional oil have witnessed immense growth in the region due the high demand for single cell microorganism-derived oils.
The region’s fast-growing vegetarian population is increasingly consuming single cell oils as fish oil substitutes as they become more aware about their benefits. The vegetarian consumer demographic is also expanding in historically meat-eating countries such as Japan, which in June 2021 began the developing Japan Agricultural Standards (AGS) for vegan and vegetarian processed foods in the country.
Expansion strategies to outline the competitive landscape for single cell oil industry
Key participants operating in the single cell oil market are Goerlich Pharma GmbH, Cellana Inc., Alltech, Royal DSM NV, Xiamen Huison Biotech Co., Ltd., DIC Corporation and Cargill Incorporated. Many of these players are focusing on expansion strategies to reinforce their position in the market. For example, in April 2022, Royal DSM, a Dutch multinational corporation, unveiled the launch of a sustainability-focused campaign to promote the use of algae-derived omega-3 ingredients. The campaign aligns with its newly expanded range of algal omega-3 products.