Algae Omega 3 ingredient Market Size, Share & Growth | 2031
Algae Omega 3 ingredient Market Size, Share & Growth | 2031
Segments - Algae Omega 3 ingredient Market by Types (Eicosapentaenoic Acid (EPA), Docosahexaenoic Acid (DHA), and EPA/DHA), Applications (Food and Beverages, Dietary Supplements, Pharmaceuticals, and Animal Nutrition), and Regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023–2031
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| Report ID :FB-1237
| 4.4 Rating
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| 198 Pages
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Report Description
The global algae omega 3 ingredient market size was valued at USD 6.4 Billon in 2022 and is likely to reach USD 15.85 Billion by 2031, expanding at a CAGR of 6.40% during 2023–2031. The growth of the market is attributed to rising demand for algae omega-3 ingredients in various applications, such as food & beverages and dietary supplements.
Algae is the common name for a group of photosynthetic eukaryotic organisms. Algae omega-3 ingredients can be found in spirulina and chlorella products, shellfish, marine spices, and turquoise seaweed. These ingredients have high nutritional value in terms of protein content. Algae omega-3 ingredients are composed of essential fatty acids that are beneficial for the health of brain, eyes, and heart.
Omega-3 oils are essential fatty acids that have a broad range of health benefits. This, in turn, has increased its end-user applications such as dietary supplements, infant nutrition, functional food and beverages, and pharmaceutical and clinical nutrition.
Algal oil is gaining high traction among vegans and people who wants a source of long-chain omega-3 fatty acids (EPA and DHA). Moreover, it does not pose the risk of contamination with pollutants, such as polychlorinated biphenyls.
Algae Omega 3 Ingredient Market Trends, Drivers, Restraints, and Opportunities
- Growing consumer preference for healthy lifestyle is one of the major drivers that is contributing to the growth of the global algae omega 3 ingredient market.
- Increasing disposable income is expected to augment the market growth.
- Lack of awareness about the benefits of algae omega 3 ingredients can restrain the growth of the market.
- The outbreak of COVID-19 has positively impacted the algae omega 3 ingredient market, as consumers are increasingly including nutritional products in their daily diet.
- Rising awareness about the importance of growth in infants is anticipated to create lucrative opportunities for the market growth.
Scope of Algae Omega 3 Ingredient Market Report
The report on the global algae omega 3 ingredient market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Algae Omega 3 Ingredient Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Types (Eicosapentaenoic Acid (EPA), Docosahexaenoic Acid (DHA), and EPA/DHA), Applications (Food and Beverages, Dietary Supplements, Pharmaceuticals, and Animal Nutrition) |
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Regional scope |
North America, Latin America, Europe, Asia Pacific and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
DSM, Corbion, BASF, Polaris S.A., and Neptune Wellness Solutions Inc. |
Algae Omega 3 Ingredient Market Segment Insights
Types Segment Analysis
Based on types, the market is divided into eicosapentaenoic acid (EPA), docosahexaenoic acid (DHA), and EPA/DHA. The EPA/DHA segment is anticipated to account for a key market share and is anticipated to grow at a steady rate during the forecast period. Quinolones is mainly ascribed to the fact that DHA and EPA are essential for infant brain development and immunity strength. DHA has well-established legal strains for its incorporation into infant formula products.
Applications Segment Analysis
Based on applications, the market is divided into food and beverages, dietary supplements, pharmaceuticals, and animal nutrition. The dietary supplements segment is anticipated to account for a major share due to growing preference for algae omega-3 infused products in the daily diet. Moreover, increasing prevalence of lifestyle diseases and growing number of people taking preventive healthcare measures are further driving the segment growth.
Regional Analysis
On the basis of regions, the market is segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America is anticipated to account for a considerable market share owing to rising consumption of Omega 3 supplements and fortified foods. Furthermore, domestic expansion of the leading companies and frequent launches of products with enhanced formulations in the US and Canada are fueling the growth of the market in the region.
Segments
The global algae omega 3 ingredient has been segmented on the basis of
Types
- Eicosapentaenoic Acid (EPA)
- Docosahexaenoic Acid (DHA)
- EPA/DHA)
Applications
- Food and Beverages
- Dietary Supplements
- Pharmaceuticals
- Animal Nutrition
Regions
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Key Players
Competitive Landscape
The major players of the market are Teva Pharmaceutical Industries Ltd, Sun Pharmaceutical Industries Ltd, Mylan N.V., ALLERGAN, Pfizer Inc., Cipla Ltd, F. Hoffmann-La Roche Ltd, Shionogi Inc., Amway, DuPont Nutrition & Biosciences. Companies are majorly focusing on partnerships and expansion of product portfolio to expand their market share.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Algae Omega 3 ingredient Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Algae Omega 3 ingredient Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Algae Omega 3 ingredient Market - Supply Chain
4.5. Global Algae Omega 3 ingredient Market Forecast
4.5.1. Algae Omega 3 ingredient Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Algae Omega 3 ingredient Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Algae Omega 3 ingredient Market Absolute $ Opportunity
5. Global Algae Omega 3 ingredient Market Analysis and Forecast by Region
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Region
5.2.2. Y-o-Y Growth Projections by Region
5.3. Algae Omega 3 ingredient Market Size and Volume Forecast by Region
5.3.1. North America
5.3.2. Latin America
5.3.3. Europe
5.3.4. Asia Pacific
5.3.5. Middle East and Africa (MEA)
5.4. Absolute $ Opportunity Assessment by Region
5.5. Market Attractiveness/Growth Potential Analysis by Region
5.6. Global Algae Omega 3 ingredient Demand Share Forecast, 2019-2026
6. North America Algae Omega 3 ingredient Market Analysis and Forecast
6.1. Introduction
6.1.1. Basis Point Share (BPS) Analysis by Country
6.1.2. Y-o-Y Growth Projections by Country
6.2. North America Algae Omega 3 ingredient Market Size and Volume Forecast by Country
6.2.1. U.S.
6.2.2. Canada
6.3. Absolute $ Opportunity Assessment by Country
6.4. Market Attractiveness/Growth Potential Analysis
6.4.1. By Country
6.4.2. By Product Type
6.4.3. By Application
6.5. North America Algae Omega 3 ingredient Demand Share Forecast, 2019-2026
7. Latin America Algae Omega 3 ingredient Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.1.3. Latin America Average Pricing Analysis
7.2. Latin America Algae Omega 3 ingredient Market Size and Volume Forecast by Country
7.2.1. Brazil
7.2.2. Mexico
7.2.3. Rest of Latin America
7.3. Absolute $ Opportunity Assessment by Country
7.4. Market Attractiveness/Growth Potential Analysis
7.4.1. By Country
7.4.2. By Product Type
7.4.3. By Application
7.5. Latin America Algae Omega 3 ingredient Demand Share Forecast, 2019-2026
8. Europe Algae Omega 3 ingredient Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Europe Average Pricing Analysis
8.2. Europe Algae Omega 3 ingredient Market Size and Volume Forecast by Country
8.2.1. Germany
8.2.2. France
8.2.3. Italy
8.2.4. U.K.
8.2.5. Spain
8.2.6. Russia
8.2.7. Rest of Europe
8.3. Absolute $ Opportunity Assessment by Country
8.4. Market Attractiveness/Growth Potential Analysis
8.4.1. By Country
8.4.2. By Product Type
8.4.3. By Application
8.5. Europe Algae Omega 3 ingredient Demand Share Forecast, 2019-2026
9. Asia Pacific Algae Omega 3 ingredient Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Asia Pacific Average Pricing Analysis
9.2. Asia Pacific Algae Omega 3 ingredient Market Size and Volume Forecast by Country
9.2.1. China
9.2.2. Japan
9.2.3. South Korea
9.2.4. India
9.2.5. Australia
9.2.6. Rest of Asia Pacific (APAC)
9.3. Absolute $ Opportunity Assessment by Country
9.4. Market Attractiveness/Growth Potential Analysis
9.4.1. By Country
9.4.2. By Product Type
9.4.3. By Application
9.5. Asia Pacific Algae Omega 3 ingredient Demand Share Forecast, 2019-2026
10. Middle East & Africa Algae Omega 3 ingredient Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Middle East & Africa Average Pricing Analysis
10.2. Middle East & Africa Algae Omega 3 ingredient Market Size and Volume Forecast by Country
10.2.1. Saudi Arabia
10.2.2. South Africa
10.2.3. UAE
10.2.4. Rest of Middle East & Africa (MEA)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Market Attractiveness/Growth Potential Analysis
10.4.1. By Country
10.4.2. By Product Type
10.4.3. By Application
10.5. Middle East & Africa Algae Omega 3 ingredient Demand Share Forecast, 2019-2026
11. Competition Landscape
11.1. Global Algae Omega 3 ingredient Market: Market Share Analysis
11.2. Algae Omega 3 ingredient Distributors and Customers
11.3. Algae Omega 3 ingredient Market: Competitive Dashboard
11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
11.4.1. DSM
11.4.2. Corbion
11.4.3. BASF
11.4.4. Polaris S.A.
11.4.5. Neptune Wellness Solutions Inc.
Methodology
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