Analysis of Algae Omega 3 market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Algae omega 3 is also called as ω−3 fatty acids or n−3 fatty acids. Being an essential part of human metabolism, algae omega 3 plays a significant role in the human diet. Omega 3 has a broad range of health benefits including eye, cardiovascular and brain health. Algae omega 3 is widely used for various end-use application such as infant nutrition, dietary supplements, functional food & beverages, clinical nutrition and pharmaceutical.
Nowadays, algae oil is gaining traction among people practicing a vegan diet, who want a healthy vegetarian source of fatty acids (DHA and EPA). The rising demand for algae omega 3 is mainly influenced by its major use of dietary supplements.
The growing health concerns about processed meat in developed countries is increasing diet-consciousness among the younger generation, which is uplifting the growth of dietary supplement segment of algae omega 3 in the market. To fulfill this enormous demand for algae omega 3, manufacturers are shifting from traditional algae farming to closed photo-bioreactor technology for obtaining a faster production rate. The demand for algae omega 3 is expected to increase in the emerging countries during the forecast period. Increasing R&D to extract omega 3 from various types of algae is likely to create a lucrative opportunity for algae omega 3 market in the near future.
The global market of algae omega 3 is likely to increase in the upcoming forecast period because of its three primary end-use industries including food, pharmaceuticals and nutrition industry. According to Fact.MR, its market is likely to grow at a higher-digit CAGR (compound annual growth rate) in the forecast period. Europe dominated the global market for algae omega 3 in 2018.
North America and APEJ region are expected to witness a sizable rise in the overall sales of algae omega 3. Countries including Japan, Australia, China and Brazil, among others are expected to witness a significant market share of algae omega 3. Prominent companies are significantly contributing to the production of algae, thereby boosting the growth of algae omega 3 market globally.
The global algae omega 3 market is highly fragmented. Leading players such as BASF, DSM and Corbion are using new innovative technology and expending their production capacity. Prominent companies are focused on partnership and joint ventures to increase their production capacity and global presence.
In 2017, the global leader DSM acquired ‘Martek Bioscience’ to increase their strength in algae omega 3 market. Increasing vegetarian population worldwide is boosting the algae omega 3 market at a greater extent. However, high cost related to R&D activities is likely to hamper market growth.
The global market for algae omega 3 comprises several developers, who are primarily converging on developing advance version of algae omega 3 mainly for food and beverage products.
The companies engaged in the manufacturing and distribution of algae omega 3 are focused on expanding their business footprint by enhancing their product portfolio related to algae omega 3. Some key market participants are Archer Daniels Midland Company, Cellana, Inc. Nordic Naturals, AlgiSys, Solarvest BioEnergy, Novotech Nutraceuticals Inc., Koninklijke DSM N.V., Corbin N.V., Polaris Industries, BASF SE, Source Omega LLC, Neptune Wellness Solutions Inc., Algaecytes, BioProcess Algae, LLC, TerraVia Holdings, Inc., and Qualitas Health, among other prominent players.
The research report presents a comprehensive assessment of the Algae omega 3 market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also includes projections using a suitable set of assumptions and methodologies for Algae omega 3. The research report provides analysis and information according to Algae omega 3 market segmented into type, form, concentration type, and packaging type
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The report is a compilation of first-hand information of qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain for algae omega 3. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments of algae omega 3. The report also maps the qualitative impact of various market factors on market segments and geographies.
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The algae omega 3 market can be segmented into type, form, concentration type and packaging type.
The global algae omega 3 market can be segmented on the basis of type such as
The global algae omega 3 market can be segmented on the basis of form such as
The global algae omega 3 market can be segmented on the basis of concentration such as
The global algae omega 3 market can be segmented on the basis of application type
The global algae omega 3 market can be segmented on the basis of packaging type such as
The global algae omega 3 market can be segmented on the basis of the geographical region such as
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The algae omega 3 Market is predicted to grow at 11.5% CAGR during the forecast period.
The algae omega 3 market has high growth potential due to rising awareness about the health benefits of consuming algae omega 3.
Manufacturers find the most opportunities in the algae omega 3 market as high demand from end-use industries such as nutritional supplements and the infant formula manufacturing sector.
The algae omega3 ingredients market is likely to be worth US$ 976.87 Million in 2022.
The algae omega3 ingredients market has high growth potential due to the rising customer attention towards nutritious food.
The manufacturers in the algae omega3 ingredients industry are likely to find the most opportunities in the North American region.
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