USD 2.02 billion
DHA Algae Oil Market Size, Share, Growth Analysis, By Type(Standard 30%-40% Content, 40%-50% Content, Others), By Application(Food & Beverage, Dietary Supplements, Infant Formula, Animal Feed), By Region - Industry Forecast 2024-2031
Report ID:
SQSG30H2020 |
Region:
Global |
Published Date: February, 2024
Pages:
221
|Tables:
65
|Figures:
75
DHA Algae Oil Market Insights
Global DHA Algae Oil Market size was valued at USD 2.02 billion in 2019 and is poised to grow from USD 2.11 billion in 2023 to USD 3.17 billion by 2031, growing at a CAGR of 4.6% in the forecast period (2024-2031).
It contains Omega-3 unsaturated fat, which is an important auxiliary component of the human brain. It is also essential for proper cell function and has numerous health benefits for the body and brain. Its consumption aids in cognitive development as well as heart and eye development. The growing use of this oil in the food and beverage industries is the primary driver of the global market. It has gained popularity in the medical field due to its high concentration of phycocyanin, proteins, and cell reinforcements derived from DHA and Omega-3.
Growing consumer awareness about the importance of having a strong immune system to fight COVID-19 is expected to drive demand for nutritional food products containing high levels of protein, such as protein bars and healthy snacks, among other things. The expansion of health products during and after the pandemic, as well as the increasing shift from meat products to plant-based products due to the fear of virus transmission through meat products, are expected to boost the DHA algae oil market revenue. Since algae oil is regarded as a superfood, it is used as a food ingredient. It is high in monounsaturated fatty acids (MUFA) and Omega-3 fatty acids. Algae oil is also used as a feed ingredient in fish and seafood farming. Several novel applications of algae oil are being investigated, including its use in the production of synthetic polymers, soaps and surfactants, and nutraceuticals.
US DHA Algae Oil Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Food & Beverage
Fastest Growth
Food & Beverage
Growth Rate
4.6% CAGR
Global DHA Algae Oil Market, 2021-2028($ Bn)
Country Share for North America Region- 2021 (%)
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DHA Algae Oil Market Segmental Analysis
The global DHA algae oil market is segmented based on the type, application, and region. Based on the type, DHA Algae Oil Market is segmented into standard 30%-40% content, 40%-50% content, and others. Based on application, DHA Algae Oil Market is segmented into food & beverage, dietary supplements, infant formula, animal feed, and others. Based on region DHA Algae Oil Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
DHA Algae Oil Market Analysis by Application
The global DHA Algae Oil market is segmented based on application into food & beverage, dietary supplements, infant formula, animal feed, and others. The infant formula segment is anticipated to hold the largest share in the market. The infant formula market plays a significant role in the consumption of DHA, as DHA is one of the two significant nutrients included in essentially ever commercially viable infant formula marketed due to its immense benefits. Demand for DHA-based algae omega-3 in infant formulations is increasing, which is driving up demand for DHA algal oil. In various regulations and WHO recommendations, DHA has well-established legal strains for incorporation into infant formula products. Increased demand for dietary supplements due to increased weight management awareness among working professionals is a major factor driving the market.
Global DHA Algae Oil Market By Application, 2021(%)
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DHA Algae Oil Market Regional Insights
The global DHA Algae Oil market is studied on the basis of geography as North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America region is expected to account for the largest market. A significant increase in female labour force participation, a lack of awareness about the benefits of breastfeeding, and a growing perception that infant formula and breast milk provide similar health benefits should drive market growth in North America. Breastfeeding is widely perceived as a threat to the mother's lifestyle habits, freedom, and independence. Growing awareness among young parents about the nutritional needs of infants, as well as their willingness to pay more for premium products, is expected to drive the DHA algae oil market forward.
Global DHA Algae Oil Market By Geography, 2021 - 2028
- Largest
- Fastest
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DHA Algae Oil Market Dynamics
DHA Algae Oil Market Driver
High Demand in the Food and Beverage Sector to Drive the market
- The food and beverage industry is expected to account for a sizable portion of the market. Algae oil is high in antioxidants, proteins, and essential omega-3 fatty acids, all of which have numerous health benefits. Furthermore, rising health and fitness awareness is increasing consumer preference for nutritious foods and healthier alternatives, which is helping the market.
DHA algae oil's various health benefits have been increased to drive market growth
- The growth of the market is being driven by its increased use in newborn child formula and growing customer awareness. DHA algae oil is high in omega-3 fatty acids, which are required for normal tissue function. Furthermore, because of its low soaked fat, it is used as a forte oil. Algae oil has numerous health benefits, including lowering cholesterol and improving vision and memory.
DHA Algae Oil Market Restraints
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According to the Global Seafood Alliance, the cost price per kilogram of algae is too high because of the demand for labor, water, and energy. The higher price will cause the major hindrance in growth of the market.
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DHA Algae Oil Market Competitive Landscape
Major players in the global DHA algae oil industry include JC Biotech, DSM, Lonza, and Roquette. Companies collaborate or partner for technology development and product launches, which allows them to establish and supply guarantees and royalties for product supply. Participants in the DHA algae oil market is deploying business strategies such as new product launches, partnerships and collaborations, mergers and acquisitions, and capacity expansions. For Instance, Polaris, introduced its novel Omega vie DHA 650 Qualitysilver5 product in April 2018. The product is entirely made in France from sustainable microalgae sources, making it suitable for vegetarians and vegans.
DHA Algae Oil Market Top Company Profiles
- Lonza
- DSM Nutritional Products AG
- Cellana Inc.
- Nordic Naturals Inc.
- BASF SE
- Archer Daniels Midland Company
- Polaris SA
- Source Omega LLC
- Cabio Bioengineering (Wuhan) Co., Ltd.
- AlgaeBio LLC
- Bioprocess Algae LLC
- Hubei Fuxing Biotechnology Co., Ltd.
- Qingdao Keyuan Marine Biochemistry Co., Ltd.
- Henry Lamotte Oils GmbH
- Corbion NV
- Qualitas Health Inc.
- Guangdong Runke Bioengineering Co., Ltd.
- Xiamen Huison Biotech Co., Ltd.
- Sinomega Biotech Engineering Co., Ltd.
- Goerlich Pharma GmbH
DHA Algae Oil Market Recent Developments
- In September 2021, KD Pharma Group introduced Alga3, sustainable, vegan omega-3 solutions. KD Nutra's superior technology and production flexibility allow for a wide range of omega-3 concentrates. This means the companies can customize the EPA and DHA ratio on customer needs, and for any kd-pur fish.
- In July 2021, Polaris has launched Omegavie DHA 800 algae oil derived from microalgae. The ingredient provides a plant-based, sustainable source of polyunsaturated fatty acids (PUFAs). It is made in France and employs Polaris' patented Qualitysilver technology to protect and stabilise microalgae.
DHA Algae Oil Key Market Trends
- DHA algae oil is used in a variety of end products, including cookies, condiments, flavored milk, and milk products, due to its numerous health benefits. These factors are stipulated to the global market share and are expected to remain significant over the forecast period.
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The recent trends of using vegan products are fuelling the market. The rising desire for naturally sourced health supplements is another factor influencing the market to grow.
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The oil is anticipated to experience significant growth due to demand for environmentally friendly and sustainable products. It has a lower carbon footprint, emits fewer greenhouse gases, and consumes carbon dioxide, among other environmental benefits.
DHA Algae Oil Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global market analysis, Omega-3 unsaturated fat, found in this oil, is an important auxiliary component of the human brain. It is also required for proper cell function and provides numerous health benefits to the body and brain. Consumption of this oil promotes cognitive development as well as heart and eye development. The rising demand for it in the food and beverage industries is driving the global market. Because of its high concentration of phycocyanin, proteins, and cell reinforcements derived from DHA and Omega-3, DHA algae oil has gained popularity in the medical field.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 2.02 billion |
| Market size value in 2031 | USD 3.17 billion |
| Growth Rate | 4.6% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on DHA Algae Oil Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on DHA Algae Oil Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the DHA Algae Oil Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the DHA Algae Oil Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the DHA Algae Oil Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the DHA Algae Oil Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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