Algae Omega 3 Market to Grow Rapidly at a CAGR of 4.5% by 2030 | DataM Intelligence
The Global Algae Omega 3 Market reached USD 1.2 billion in 2022 and is expected to reach USD 1.7 billion by 2030 and is expected to grow with a CAGR of 4.5% during the forecast period 2023-2030. The market is expected to expand positively as a result of the rising demand for sustainable and plant-based omega-3 fatty acid sources. The addition of algae-derived omega-3s to animal and fish feed helps in market growth.
Algae-derived Omega 3s are one of the major driving factors in the Algae Omega-3 market as they are a potent shield against chronic diseases and a path to preventive health.
Globally, the major players in the Algae Omega-3 Market include DSM Nutritional Products, BASF SE, Nordic Naturals, Lonza Group Ltd., Polaris, Source Omega, Algisys LLC, Algatech, Qualitas Health and Nature’s Way.
DataM Intelligence’s Global Algae Omega-3 Market report provides insights on the current and forecast market analysis, individual leading algae omega 3 companies’ market shares, challenges, algae omega 3 market drivers, barriers, trends, opportunities and key market algae omega 3 companies in the market.
Key Takeaways from the Global Algae Omega-3 Market
As per DataM estimates, North America is anticipated to hold the largest share of the global algae omega-3 market during the forecast period.
- On May 08, 2023, Corbion, a supplier of algae-based feed ingredients, announced to launches of Algal Omega-3 and Omega-9 Products for Dietary Supplements. The ingredients, rich in omega-3 and omega-9 fatty acids, are produced through algal fermentation to reduce pressure on marine resources as well as the carbon footprint associated with the production of dietary supplements.
- On April 17, 2023, MiAlgae, A biotechnology company, officially launched its omega-3 product NaturAlgae, which is targeted at the fish feed and pet food sectors.
- On January 20, 2022, Wellness Innovations, a Dutch producer of algae oil goods, raised € 1.2m in investment for a fish-free future in which omega-3 is sourced in an environmentally friendly way.
To read more about the latest highlights related to the algae omega 3 market, get a snapshot of the key highlights entailed in the Global Algae omega 3 Market Report
Algae omega 3 Market Insights
North America Dominates the Algae Omega 3 Market
The North America Algae omega-3 market holds the largest share of the global algae omega-3 market. The North American algae omega-3 market has witnessed significant growth in recent years, driven by rising consumer awareness of the health benefits associated with Omega-3 Fatty Acids.
Algal oil and algal biomass have emerged as sustainable sources of omega-3, contributing to the market’s expansion. With a focus on sustainable practices, algal cultivation has gained traction in the region.
The North American algae omega-3 producers are also developing new products to meet the growing demand for omega-3s in a variety of formats.
For instance, some companies are now offering algae omega-3 powders that can be added to food and beverages, as well as algae omega-3 capsules that are designed to be more sustainable than fish oil capsules. The increasing popularity of algae-derived omega-3 products leads to the expansion of the algae omega-3 market size.
To know more about why North America is leading the market growth in the algae omega-3 market, get a snapshot of the market here.
Algae Omega 3 Market Dynamics
Algae Omega-3 Market Dominated by DHA and its Essential Brain Health Benefits Drive Market Growth
The global algae omega-3 market has been segmented by type into ALA, EPA and DHA.
DHA is another long-chain omega-3 fatty acid that is essential for brain health, cognitive function, and fetal development during pregnancy.
It is a crucial component of the brain and retina and is associated with various neurological benefits. It is holding approximately 50-55% of the algae omega-3 market.
ALA is a short-chain omega-3 fatty acid primarily found in plant-based sources like flaxseed, chia seeds, and algae. According to the algae omega-3 market analysis, it is holding approximately 5-10% of the algae omega-3 market.
While ALA is essential for health, the human body needs to convert it into EPA and DHA to realize their full health benefits. However, this conversion process is limited, making EPA and DHA more desirable for direct consumption.
EPA is a long-chain omega-3 fatty acid known for its anti-inflammatory properties and its role in supporting cardiovascular health. It plays a vital role in reducing inflammation and maintaining healthy heart function. It is holding approximately 40-45% of the algae omega-3 market.
However, challenges associated with Algal-Derived Omega-3 Oil on blood clotting and blood pressure pose a potential impact on the Algae Omega 3 Market Growth
Growing Demand for Sustainable Plant-Based Nutrition Drives Industry Growth and Innovation in the Algae Omega-3 Market
The algae omega-3 market trend is driven by the increasing demand for sustainable and plant-based sources of omega-3 fatty acids. Algae, being naturally rich in omega-3s, has gained prominence due to its dual applications – as an alternative and renewable source for biofuels and for producing omega-3 supplements and food additives for human consumption.
Get a sneak peek at the Algae Omega 3 Market dynamics for a better understanding.
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Metrics |
Details |
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CAGR |
4.5% |
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Size Available for Years |
2021-2030 |
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Forecast Period |
2023-2030 |
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Data Availability |
Value (US$) |
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Segments Covered |
Type, Application, End-User and Region |
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Regions Covered |
North America, Europe, Asia-Pacific, South America and Middle East & Africa |
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Fastest Growing Region |
Asia-Pacific |
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Largest Region |
North America |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
Do not miss out on the key players of the Algae Omega 3 Market as they are set to emerge as trendsetters in the industry.
Table of Contents
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1 |
Report Methodology and Scope |
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2 |
Report Definition and Overview |
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3 |
Executive Summary |
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4 |
Market Dynamics |
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5 |
Industry Factors |
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6 |
COVID-19 Analysis |
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7 |
Algae Omega 3 Market Segments and Region |
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8 |
Global Company Share Analysis – 10 Key Companies |
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9 |
Algae Omega 3 Market Company and Product Profiles |
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10 |
About DataM |
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