Indonesia Docosahexaenoic Acid (DHA) Oil Market Outlook
The Indonesia DHA oil market was valued at USD 47.7 million in 2019 and is projected to reach USD 133.3 million by 2027, expanding at a CAGR of 13.4% during the forecast period. In terms of volume Indonesia DHA oil market was valued at 59.5 tons and expected to grow at CAGR of 12.6% during forecasted timeline. Docosahexaenoic acid (DHA) is a one of the chief components of omega 3 fatty acids, it has several health benefits.
DHA is a part of a cell in body and plays a vital role in brain development, infancy, pregnancy, and others. To gain the daily dosage of DHA, people consume DHA supplements sourced from fish oil, krill oil, algal oil, and DHA rich foods such as dietary supplements, juices, cow milk, and poultry eggs, among others. In infant formulae, DHA is main a component added, as it is effective for the brain development of infants, it also has several applications in healthcare such as for treating attention-deficit hyperactivity disorder (ADHD) and to reduce the risk of preterm birth.
DHA has antioxidant and anti-inflammatory properties. Fish oil is an essential factor for the reduction of ailments such as depression, menstrual pain, lupus, and Raynaud syndrome, cardiovascular diseases, Alzheimer’s disease, and cancer. Oils extracted from fish such as tuna, salmon herring, shellfish, and sardines are rich sources of DHA.
Indonesia Docosahexaenoic Acid (DHA) Oil Market Dynamics
The market is driven by factors such as Growing consumer awareness among people regarding the health benefits of omega-3 fatty acids, changing lifestyle and eating habits cause nutritional deficiencies, which increase the demand of fortified foods and dietary supplements to meet the daily nutritional requirement, increasing use of fish oil, krill oil, and algae oil in pharmaceutical products due to high medicinal properties present in oil such as DHA oil is propelling the growth of the market.
Few restraints for this market are lack of knowledge among people about the daily dose or recommend intake of nutrients through these oils causes an excess in intake, which can lead to side effects and high costs of manufacturing these products and availability of alternative products hinders market growth. Also, Growing trend of adopting naturally products, rich in nutrients, vitamin, and minerals scope in the market. Increase in focus on research & development for finding alternative vegetarian and vegan sources of omega 3 fatty acids is a key opportunity propelling the growth of the market.
Indonesia Docosahexaenoic Acid (DHA) Oil Market Segmental Outlook
On the basis of types, the market has been divided into industrial fish oil, Algae oil, krill oil and other. The industrial grade segment dominates the market during the forecast period. Fish oil is used for several applications such as dietary supplement, prescription medicines for coronary heart diseases, and stroke, which are prescribed for weight loss, skin health, eye health, and bone health.
However, excess use of fish oil can increase health risks and cause side-effects such as high blood sugar and excessive bleeding. The algae oil is expected to expand at CAGR 13.3% as they are odorless and has several health benefits.
Based on applications, the DHA oil market has been segmented into infants’ formulae, dietary supplements, fortified food & beverages, pharmaceutical, and others. In terms of revenue, dietary supplements is expected to hold a significant market of 34.8% in 2019, as they are widely adopted by people to increase their metabolism and improve health.
New mothers are seeking for DHA supplements for their babies to provide essential nutrients and to boost their brain development. Increasing application of DHA oil in medicines for the treatment of several diseases is driving the sales of DHA source products in pharmaceuticals.
Fish Oil: Fish oil is a type of fat or oil, extracted from the fish tissue, which contains omega 3 fatty acids such as DHA and EPA, which are present in high quantities in fish such as mackerel, herring, salmon, anchovies, tuna, and cod and seal and whale blubber. Fish oil is used for several applications such as dietary supplement, prescription medicines for coronary heart diseases, and stroke, which are prescribed for weight loss, skin health, eye health, and bone health. However, excess use of fish oil can increase health risks and cause side-effects such as high blood sugar and excessive bleeding.
Algae Oil: Algae oil is obtained from marine algae (microalgae), which produces more oil as compared to land-based algae. Algae oil is a source of omega-3 fatty acids including DHA and EPA. This oil can be used for cooking, as it contains lesser quantity of unsaturated fats and higher amounts of good fats than ordinary cooking oil such as olive oil and coconut oil. Algae oil looks and feels similar to canola, vegetable, and other cooking oils. It is and odorless and has several health benefits. Algae oil is known as algal biofuel/algae fuel and is an alternative to liquid fossil fuel.
Krill Oil: Krill oil is obtained from a small crustacean of the Euphausiacea order, similar to shrimp, which are found in oceans. Krill are usually eaten by Baleen whales, mantas, and whale sharks. Krill oil has medicinal properties and can be used for treating dry eyes, high cholesterol, triglycerides, osteoarthritis, and premenstrual syndrome (PMS).
Key Benefits for Industry Participants & Stakeholders
- In-depth Analysis of the Indonesia DHA oil Market
- Historical, Current and Projected Market Size in terms of Value
- Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
- Industry Drivers, Restraints and Opportunities Covered in the Study
- Recent Industry Trends and Developments
- Competitive Landscape & Strategies of Key Players
- Neutral Perspective on Indonesia DHA oil Market Performance
- Fish Oil
- Algae Oil
- Krill Oil
- Infant Formulae
- Dietary Supplements
- Fortified Food & Beverages
By Distribution Channels
Key Market Players Profiled in the Report
Key players in the Indonesia DHA oil market includes Bioriginal Europe/Asia B.V., Stepan Company, FKS Multi Agro, ConnOils LLC, and PT MoBiol Algae Indonesia. These companies are considered as key manufacturers of Indonesia DHA oil drugs, based on their revenue, research & development activities, regional presence, and supply chain management system.
The players are adopting key strategies such as acquisition, and geographical expansion where potential opportunity for the Indonesia DHA oil extraction is added in the company’s capacity.
For instance, Bioriginal Europe/Asia B.V. launched odorless, tasteless OmegaPure Fish Oil, which can be incorporated into beverages, foods, and other delivery systems without changing its flavor or taste.
Stepan Company announced the launch of an omega-3 product that is rich in structured DHA, and has been certified by the sustainable by Friend of the Sea.