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The global algae omega-3 ingredients market is segmented by Type (Eicosapentaenoic Acid (EPA), Docosahexaenoic Acid (DHA), and EPA/DHA); by Application (Food and Beverage, Dietary Supplements, Pharmaceuticals, and Animal Nutrition); and by Geography.
2016 - 2026
Fastest Growing Market:
The global algae omega-3 ingredients market is projected to grow at a CAGR of 11.90% during the forecast period (2020 - 2025).
The global algae omega-3 ingredients market offers ingredient types such as Eicosapentaenoic Acid (EPA), Docosahexaenoic Acid (DHA), and EPA/DHA applicable to food and beverage, dietary supplements, pharmaceuticals, and animal nutrition. By geography, the market studied covers the major countries in the region, including North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
|Eicosapentanoic Acid (EPA)|
|Docosahexaenoic Acid (DHA)|
|Food and Beverages|
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The market studied is being dominantly driven by the increasing demand for infant formula products in developing regions. China is the world’s largest consumer of infant formula products, due to the high birth rate in the country. DHA and EPA are essential for infant brain development and immunity strength. DHA has well-established legal strains for incorporation into infant formula products in different regulations and WHO recommendations. Infant formula holds the major market share for algae omega-3 consumer products in China.
According to a Norwegian study, omega-3 demonstrates a positive effect on a child's brain and enhances a child’s problem-solving abilities. According to recent research studies, high doses of DHA in baby formula or breast milk can have a positive effect on the growth of pre-term infants, such as an increase in height. In countries, such as China, where both the adult population and infant population are on the rise, the demand for infant nutrition and baby food is constantly increasing. The demand for infant nutrition fortified with omega-3 is increasing from the parents who have busy lifestyles and less time to prepare meals.
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United States in North America accounts for the largest share in the global algae omega 3 ingredient 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.
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The global algae omega-3 ingredients market is fragmented, as key players, like Koninklijke DSM N.V, 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, Koninklijke DSM N.V, and Neptune Wellness Solutions Inc. are focusing on partnerships and joint ventures to increase their production capabilities and consumer base across various regions.
1.1 Study Deliverables and Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porters Five Force Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Eicosapentanoic Acid (EPA)
5.1.2 Docosahexaenoic Acid (DHA)
5.2 By Application
5.2.1 Food and Beverages
5.2.2 Dietary Supplements
5.2.4 Animal Nutrition
5.3 By Geography
5.3.1 North America
126.96.36.199 United States
188.8.131.52 Rest of North America
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
5.3.3 Asia Pacific
18.104.22.168 Rest of Asia-Pacific
5.3.4 South America
22.214.171.124 Rest of South America
5.3.5 Middle East and Africa
126.96.36.199 South Africa
188.8.131.52 Saudi Arabia
184.108.40.206 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Strategies Adopted by Leading Players
6.2 Market Positioning Analysis
6.3 Company Profiles
6.3.1 Archer Daniels Midland Company
6.3.2 Koninklijke DSM N.V.
6.3.3 Corbion N.V.
6.3.4 Neptune Wellness Solutions
6.3.5 Source Omega LLC
6.3.7 BASF SE
6.3.8 Novotech Nutraceuticals Inc.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
** Subject to Availability