Asia Pacific Algae Omega-3 Ingredients Market Forecast (2024

Asia Pacific Algae Omega-3 Ingredients Market Forecast (2024 - Size

Study Period

2018 - 2030

Base Year For Estimation

2023

Forecast Data Period

2024-2030

Historical Data Period

2018-2021

CAGR

7 %

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

Asia Pacific Algae Omega-3 Ingredients Market Size and Growth Insights

Asia Pacific Algae Omega-3 Ingredients market was valued at $135.1 Million in 2021 and is expected to reach $304.1 Million by 2029, growing at a CAGR of around XX% during the forecast period. The Asia Pacific algae omega-3 ingredients market is mainly attributed to the factors such as the mounting wave of veganism and the rising number of consumers shifting to vegetarian diets. The Asia Pacific is dynamic and highly fragmented, with numerous small and domestic players occupying the major chunk of the Asia Pacific market share. The food & beverage industry has been undergoing health-driven transformations, increasing consumer awareness about health-benefit diets.

The future Omega-3 markets will need new sources to meet the increasing demand from the food and pharma industry. Algae, a vegetarian source, provides much higher levels of Omega-3 FAs and does not contain contaminants such as mercury, PCBs and dioxins that could be found in marine sourced fish oils. Due to this reason, algae oils are only permitted in the USA’s DHA fortification of infant formula. Moreover, algae offer year-round cultivation and can provide predictable yields.

COVID-19 Impact on Algae Omega-3 Ingredients Market:

The COVID-19 pandemic in 2020 has garnered Asia Pacific attention for nearly a year. During the pandemic, much has been said about vitamin D and zinc, but a major nutrient largely overlooked is the omega-3 fatty acids EPA and DHA. Found mostly in oily fish like salmon, albacore tuna, sardines and herring—as well as dietary supplements (fish oil, krill oil, algal oils)—these fatty acids may also play a potential role in the fight against COVID-19. The pandemic has steered the customers’ attention toward nutritious food with health benefits for their infants to curb the virus. This has prompted the rise in the use of algae omega-3 ingredients in infant products to support healthy well-being. The impact of COVID-19 resulted in the generation of opportunities for manufacturers of health-oriented products, especially dietary supplements. In May 2021, a recent study revealed that COVID-19 patients

Asia Pacific Algae Omega-3 Ingredients Market Forecast (2024 - Growth

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

with a higher omega-3 index had a lower risk of death due to COVID-19.

Asia Pacific Algae Omega-3 Ingredients Market Segments Share:

The Asia Pacific Algae Omega-3 Ingredients market is segregated on the basis of product type, application and geography.

By product type, EPA held the largest market share and is estimated to hold the same during the forecast period. Eicosapentaenoic acid (EPA) is a long-chain omega-3 fatty acid found in plants and animals. EPA are essential fatty acid for brain function and human growth and development. EPA fatty acid consumption lowers the risk of chronic diseases such as cancer, heart disease, and arthritis. EPA has used an essential compound that is used in the treatment of depression and protection against thrombosis.

By application, the dietary supplements segment is projected to witness robust CAGR during the forecast period. Dietary Supplements are products like vitamins, minerals, herbs, amino acids, enzymes, and others that are added to a diet to complete dietary needs or to make up for a nutrition deficiency. Dietary supplements dosage forms include pills, capsules, powders, drinks, energy bars, and others. Supplement use can also be considered complementary or alternative medicine. Rapid urbanization and growing disposable income worldwide is driving the demand for products that can cover the nutritional deficit at higher convenience. The rising interest of millennials in building health through a healthy diet and the growing prevalence of diseases is expected to increase the demand for dietary supplements, especially in energy and weight management, gastrointestinal health, and cardiac health applications.

Based on geography, the global algae omega-3 ingredients market is categorized into China, India, Japan, South Korea, Australia & New Zealand, Malaysia, Singapore, and Others. Due to growing middle-class population, disposable income, and health awareness, China holds a significant market share in the Asia Pacific algae omega-3 ingredients market. China has many key companies that manufacture algae omega-3 ingredients and finished products (fortified foods). With the high demand in the infant food nutrition segment, the increasing demand from sports nutrition, and booming opportunities in personalized nutrition,

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Asia Pacific Algae Omega-3 Ingredients Market Forecast (2024 - Porter's Five Force Analysis

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

omega-3 ingredients hold a promising future in China. The algae oil segment is estimated to grow faster than the fish oil segment, due to the growing vegetarian population, aggressive campaigns on animal cruelty-free products and rising vegan population. China’s high consumption of infant formula products is one of the major factors driving the market.

Asia Pacific Algae Omega-3 Ingredients Market Trends:

In March 2022, Neptune Wellness Solutions Inc. announced the launch of Forest Remedies Multi Omega 3-6-9, a line of innovative supplements made with Ahiflower oil, in Sprouts Farmers Market stores nationwide.
In 2019, ADM unveiled a new line of Onavita™ Algal DHA and Almega™ EPA blends available via a collaboration with Qualitas Health, a leader in algae cultivation. ADM is offering three different EPA/DHA blends containing omega-3, 6 and 9, which offer benefits that can help support cognitive, heart, immune system or eye health.

Asia Pacific Algae Omega-3 Ingredients Market Research Report Include:

An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.
To have complete market analysis through industry value chain analysis, porter’s five, PESTLE, SWOT analysis, and Y-o-Y analysis.
Regional and Asia Pacific diversity is analyzed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year
Identifying DROC in the current market and their impact in altering the market dynamics.
Competitive landscape analysis to identify the merger and acquisition which will have a comparative financial analysis with major competitors.
Expertise investment opportunities by analyst to the individual and organization to have better foothold in the market.
Identify the latest developments, market shares and strategies that are employed by the major market players, such as
Archer Daniels Midland Company
Koninklijke DSM NV
Corbion N.V.
BASF SE
Neptune Wellness Solutions, Inc.

Along with these companies, there were many other companies considered/ cited in the report while analyzing the Algae Omega-3 Ingredients market. These companies hold substantial share-owning to the nature of the industry whereas rest of the market shares are marginal chunks to regional and local level manufacturers. other players have considerable presence owing to its robust brand image, geographical reach and strong customer base.

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