Algae Omega-3 Ingredients: Global Market Outlook to 2024 - EPA/DHA Ingredients Emerge as the Fastest Growing Segment - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--May 23, 2019--
The “Global Algae Omega-3 Ingredients Market (2019-2024): Growth, Trends and Forecastss” report has been added to ResearchAndMarkets.com’s offering.
The global algae omega-3 ingredients market is forecasted to reach USD 1.2 billion by 2024 growing at a CAGR of 11.3% during the forecast period (2019-2024).
The market for algae omega-3 ingredients is dynamic and highly fragmented, with numerous small and domestic players occupying the major chunk of the global market share.
Omega-3 oils are essential fatty acids that have a broad range of health benefits, including cardiovascular, eye, and brain health, for which they are being widely used in various end-user applications, like dietary supplements, infant nutrition, functional food and beverages, and pharmaceutical and clinical nutrition.
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.
Key Market Trends
EPA/DHA Ingredients Emerge as the Fastest Growing Segment
EPA is commonly used in combination with DHA in various infant formulas. Most products in the market are present as a combination of EPA and DHA, owing to their combinatorial health effects. Algal oil is gaining popularity among vegans and vegetarians, 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.
For instance, in India, the dietary supplements sector is the largest consumer of omega-3 ingredients. The main source of the omega-3 ingredient is algal oil. Its usage is expected to increase faster than the fish oil, due to the large vegetarian population in India. The combination of EPA and DHA in dietary supplements claims to have benefits for fetal development, cardiovascular health, and cognitive function, among others.
Dietary Supplements Hold the Major Share in Market
Algae Omega-3 oils are essential fatty acids that have a broad range of health benefits, including cardiovascular, eye, and brain health. Hence, it is being widely used in dietary supplements. The increasing prevalence of obesity in developed countries has increased the diet-consciousness among the younger generation, which is supporting the growth of this segment of algae omega-3 ingredients in these markets.
For instance: Australia-based organic algae omega oil company Qponics Limited had signed a collaboration with technAlgaeCytes Limited to start producing commercial algae by Qponics Limited in 2016. It is also focused on developing high-quality algae EPA for supplements through the Algacytes photobioreactor ology. It also aims to expand the company product in Europe and Australia.
The global algae omega-3 ingredients market is fragmented, as key players, like DSM, 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, with weightage of 43% in the global algae omega-3 ingredients market.
Key players, like ADM, DSM, and Neptune Wellness Solutions Inc. are focusing on partnerships and joint ventures to increase their production capabilities and consumer base across various regions.
Key Topics Covered
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porters Five Force Analysis
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
220.127.116.11 Infant Formula
18.104.22.168 Fortified Food and Beverages
5.2.2 Dietary Supplements
5.2.4 Animal Nutrition
5.2.5 Clinical Nutrition
5.3 By Concentration Type
5.3.1 High Concentrated
5.3.2 Medium Concentrated
5.3.3 Low Concentrated
5.4.1 North America
22.214.171.124 United States
126.96.36.199 Rest of North America
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
5.4.3 Asia Pacific
220.127.116.11 Rest of Asia-Pacific
5.4.4 South America
18.104.22.168 Rest of South America
5.4.5 Middle East and Africa
22.214.171.124 South Africa
126.96.36.199 United Arab Emirates
188.8.131.52 Rest of Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Strategies Adopted by Leading Players
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Archer Daniels Midland Company
6.4.2 Koninklijke DSM N.V.
6.4.3 Corbion N.V.
6.4.4 Neptune 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
For more information about this report visit https://www.researchandmarkets.com/r/gwy6ew
View source version on businesswire.com:https://www.businesswire.com/news/home/20190523005391/en/
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Related Topics:Vitamins and Dietary Supplements,Nutraceuticals and Weight Loss,Food Ingredients
INDUSTRY KEYWORD: HEALTH FITNESS & NUTRITION
SOURCE: Research and Markets
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PUB: 05/23/2019 08:38 AM/DISC: 05/23/2019 08:38 AM