Market Size of Algae Omega-3 Ingredients Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 1.11 Billion |
| Market Size (2029) | USD 2.07 Billion |
| CAGR (2024 - 2029) | 13.36 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Algae Omega-3 Ingredients Market Analysis
The Algae Omega-3 Ingredients Market size is estimated at USD 1.11 billion in 2024, and is expected to reach USD 2.07 billion by 2029, growing at a CAGR of 13.36% during the forecast period (2024-2029).
- Omega-3 oils are essential fatty acids that have a broad range of health benefits, including cardiovascular, eye, and brain health. More specifically, omega-3 fatty acids are of three main types, alphalinolenic acid (ALA), eicosapentaenoic acid (EPA), and docosahexaenoic acid (DHA). Omega-3 products are consumed in the form of supplements and are also an important ingredient in a number of food products including, functional foods, infant formulae and others.
- 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.
- Globally, algae omega-3 ingredients are gaining prominence and becoming a part of the consumer's daily diet. The key reasons for this change have been the increased prevalence of lifestyle diseases and people taking preventive healthcare measures.
- The impact of the COVID-19 resulted in the generation of opportunities for manufacturers of health-oriented products, especially dietary supplements. The respective market has been prompted with the increase in consumer perception of these products to be helpful in maintaining immunity and its efficiency in fighting with the deadly virus. This in turn surges the demand for associated ingredients including algae omega-3.
