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

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).

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. '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'

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 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.

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.