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).

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.