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Algae Products Market Share, Industry Growth, Trend, Drivers, Challenges, Key Companies by 2027 | Top Companies - Euglena Co Ltd, Algae Systems, Cyanotech Corporation, Cargill and More
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Marine Oil Market to Account for a Valuation of US$ 2 6 Bn Towards 2030 End: Fact MR
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Market players are focusing on increased usage of algae for production to reduce reliance on wild catch fish and fulfil high demand for marine oil
DUBAI, UAE / ACCESSWIRE / January 15, 2021 / The global marine oil market is likely to record a steady CAGR amid the assessment period of 2020-2030. The growth can be mainly attributed to increasing demand from various end use industries, particularly from regions such as East Asia where the most lucrative prospects are likely to be offered for stakeholders. However, the market will foresee a short terms effect due to COVID-19 outbreak. Market players are optimizing their production to decrease costs via backward integration, to conciliate for the instability in prices. Procurement of raw material, which is still inconsistent, prompt a huge demand-supply gap at the worldwide level. Procurement sources for taking out marine oil must be categorized in an organized manner, as government regulations and climatic events can make procure