Algae Omega-3 Ingredients Market - Growth, Trends and Forecasts (2020 - 2025)

August 2020 •
118 pages •
Report ID: 5778223 •
Format: PDF

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The global algae omega-3 ingredients market is projected to grow at a CAGR of 11.90% during the forecast period (2020 - 2025). The market for algae omega-3 ingredients is dynamic and highly fragmented, with numerous small and domestic players occupying the major chunk of the global market share. Omega-3 oils are essential fatty acids that have a broad range of health benefits, including cardiovascular, eye, and brain health, for which they are being widely used in various end-user applications, like dietary supplements, infant nutrition, functional food and beverages, and pharmaceutical and clinical nutrition. Algal oil is gaining popularity among vegans and other people who want a source of long-chain omega-3 fatty acids (EPA and DHA). It does not pose the risk of contamination with pollutants, such as polychlorinated biphenyls.

Key Market Trends
EPA/DHA Ingredients Emerge as the Fastest Growing Segment

EPA is commonly used in combination with DHA in various infant formulas. Most products in the market are present as a combination of EPA and DHA, owing to their combinatorial health effects. Algal oil is gaining popularity among vegans and vegetarians, and other people who want a source of long-chain omega-3 fatty acids (EPA and DHA). It does not pose the risk of contamination with pollutants, such as polychlorinated biphenyls. For instance, in India, the dietary supplements sector is the largest consumer of omega-3 ingredients. The main source of the omega-3 ingredient is algal oil. Its usage is expected to increase faster than the fish oil, due to the large vegetarian population in India. The combination of EPA and DHA in dietary supplements claims to have benefits for fetal development, cardiovascular health, and cognitive function, among others.

North America & Asia-Pacific to Drive the Global Market

United States in North America followed by Asia-Pacific accounts for the largest share in the global market. This is due to the increased consumption of Omega 3 supplements, fortified foods and rising awareness regarding the health benefits of Omega 3. Also, domestic expansion of the leading companies and frequent launches of products with enhanced formulations have further fueled the market growth in the region. In the United States, docosahexaenoic acid (DHA) is a major ingredient that is being used in infant nutrition. Almost all the brands offering infant nutrition formula in the country uses DHA as an ingredient that adds to the cost of formula, which is augmenting the growth of algae omega-3 ingredients market in the country. For instance, Enfamil, a US-based company offers Enfagrow A+ Stage 4 Nutritional Milk Powder, which consists of DHA, along with other essential prebiotics and micronutrients.

Competitive Landscape
The global algae omega-3 ingredients market is fragmented, as key players, like DSM, Corbion, BASF, Polaris S.A., and Neptune Wellness Solutions Inc. are facing competition from local players across various regions. Partnerships remained the most common strategy. Key players, like ADM, DSM, and Neptune Wellness Solutions Inc. are focusing on partnerships and joint ventures to increase their production capabilities and consumer base across various regions.

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