DUBLIN – (BUSINESS WIRE) – Added “Global Algae Omega-3 Ingredients Market (2019-2024): Growth, Trends, and Forecast” report added ResearchAndMarkets.com
The global algae omega-3 ingredient market is projected to reach USD 1.2 billion by 2024 and grow at a CAGR of 11.3% over the forecast period (2019-2024).
The market for algae omega-3 ingredients is dynamic and highly fragmented, with numerous small and domestic suppliers taking up most of the global market share.
Omega-3 oils are essential fatty acids that have a wide range of health benefits, including cardiovascular, eye, and brain health, for which they are used in various end-user applications such as nutritional supplements, infant formula, functional foods and beverages, and pharmaceutical and clinical nutrition .
Seaweed oil is becoming increasingly popular with vegans and other people looking for a source of long-chain omega-3 fatty acids (EPA and DHA). There is no risk of contamination with harmful substances such as polychlorinated biphenyls.
Important market trends
EPA / DHA ingredients are the fastest growing segment
EPA is often used in combination with DHA in various baby foods. Most of the products on the market are available as a combination of EPA and DHA because of their combinatorial health effects. Algae oil is becoming increasingly popular with vegans and vegetarians and other people who want a source of long-chain omega-3 fatty acids (EPA and DHA). There is no risk of contamination with harmful substances such as polychlorinated biphenyls.
In India, for example, the dietary supplement sector is the largest consumer of omega-3 ingredients. The main source of the omega-3 ingredient is algae oil. Its use is expected to increase faster than that of fish oil due to India’s large vegetarian population. The combination of EPA and DHA in dietary supplements is said to have benefits for fetal development, cardiovascular health, and cognitive function, among other things.
Dietary supplements hold the major share in the market
Algae omega-3 oils are essential fatty acids that have a wide range of health benefits, including cardiovascular, eye, and brain health. Hence, it is widely used in nutritional supplements. The rising prevalence of obesity in developed countries has raised the nutritional awareness of the younger generation, which supports the growth of this segment of algae omega-3 ingredients in these markets.
For example: Australia-based organic algae omega oil company Qponics Limited had signed a partnership with technAlgaeCytes Limited to start producing commercial algae from Qponics Limited in 2016. It also focuses on developing high quality algae EPA for dietary supplements through Algacytes photobioreactorology. It also aims to expand the company’s product in Europe and Australia.
The global algae omega-3 ingredients market is fragmented as key players such as DSM, Corbion, BASF, Polaris SA and Neptune Wellness Solutions Inc. face competition from local players in different regions. Partnerships remained the most common 43% weighting strategy in the global omega-3 seaweed ingredient market.
Key players such as ADM, DSM and Neptune Wellness Solutions Inc. are focusing on partnerships and joint ventures to increase their production capacity and customer base in different regions.
Key issues covered
2 RESEARCH METHOD
4 MARKET DYNAMICS
4.1 Market drivers
4.2 Market Restrictions
4.3 Porter’s 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 After application
5.2.1 Food and drinks
126.96.36.199 Infant formula
188.8.131.52 Fortified foods and beverages
5.2.2 Food supplements
5.2.4 Animal nutrition
5.2.5 Clinical nutrition
5.3 By concentration type
5.3.1 Highly concentrated
5.3.2 Medium concentrated
5.3.3 Low concentration
5.4.1 North America
184.108.40.206 United States
220.127.116.11 Rest of North America
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
126.96.36.199 Rest of Asia Pacific
5.4.4 South America
188.8.131.52 Rest of South America
5.4.5 Middle East and Africa
184.108.40.206 South Africa
220.127.116.11 United Arab Emirates
18.104.22.168 Rest of the Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 The most active companies
6.2 Strategies of leading players by
6.3 Market Share Analysis
6.4 Company profiles
6.4.1 Archer Daniels Midland Company
6.4.2 Royal DSM NV
6.4.3 Corbion NV
6.4.4 Neptun wellness solutions
6.4.5 Source Omega LLC
6.4.7 BASF SE
6.4.8 Novotech Nutraceuticals Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Please visit https://www.researchandmarkets.com/r/gwy6ew for more information on this report