Algae Omega-3 Ingredients: Global Market Outlook to 2024 - EPA/DHA Ingredients Emerge as the Fastest Growing Segment - ResearchAndMarkets.com
The "Global Algae Omega-3 Ingredients Market (2019-2024): Growth, Trends and Forecastss" report has been added to ResearchAndMarkets.com's offering.
The "Global
Algae Omega-3 Ingredients Market (2019-2024): Growth, Trends and
Forecastss" report has been added to ResearchAndMarkets.com's
offering.
The global algae omega-3 ingredients market is forecasted to reach USD
1.2 billion by 2024 growing at a CAGR of 11.3% during the forecast
period (2019-2024).
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.
Dietary Supplements Hold the Major Share in Market
Algae Omega-3 oils are essential fatty acids that have a broad range of
health benefits, including cardiovascular, eye, and brain health. Hence,
it is being widely used in dietary supplements. The increasing
prevalence of obesity in developed countries has increased the
diet-consciousness among the younger generation, which is supporting the
growth of this segment of algae omega-3 ingredients in these markets.
For instance: Australia-based organic algae omega oil company Qponics
Limited had signed a collaboration with technAlgaeCytes Limited to start
producing commercial algae by Qponics Limited in 2016. It is also
focused on developing high-quality algae EPA for supplements through the
Algacytes photobioreactor ology. It also aims to expand the company
product in Europe and Australia.
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, with weightage
of 43% in the global algae omega-3 ingredients market.
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.
Key Topics Covered
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porters Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Eicosapentanoic Acid (EPA)
5.1.2 Docosahexaenoic Acid (DHA)
5.1.3 EPA/DHA
5.2 By Application
5.2.1 Food and Beverages
5.2.1.1 Infant Formula
5.2.1.2 Fortified Food and Beverages
5.2.2 Dietary Supplements
5.2.3 Pharmaceuticals
5.2.4 Animal Nutrition
5.2.5 Clinical Nutrition
5.3 By Concentration Type
5.3.1 High Concentrated
5.3.2 Medium Concentrated
5.3.3 Low Concentrated
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.1.4 Rest of North America
5.4.2 Europe
5.4.2.1 Spain
5.4.2.2 United Kingdom
5.4.2.3 Germany
5.4.2.4 France
5.4.2.5 Italy
5.4.2.6 Russia
5.4.2.7 Rest of Europe
5.4.3 Asia Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 Rest of Asia-Pacific
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle East and Africa
5.4.5.1 South Africa
5.4.5.2 United Arab Emirates
5.4.5.3 Rest of Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Strategies Adopted by Leading Players
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Archer Daniels Midland Company
6.4.2 Koninklijke DSM N.V.
6.4.3 Corbion N.V.
6.4.4 Neptune Wellness Solutions
6.4.5 Source Omega LLC
6.4.6 Polaris
6.4.7 BASF SE
6.4.8 Novotech Nutraceuticals Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/gwy6ew
View source version on businesswire.com: https://www.businesswire.com/news/home/20190523005391/en/