The global DHA from algae market size was worth around USD 384.1 million in 2021 and is estimated to grow to about USD 569.9 million by 2028, with a compound annual growth rate (CAGR) of approximately 6.8% over the forecast period.
The global DHA from algae market size was worth around USD 384.1 million in 2021 and is estimated to grow to about USD 569.9 million by 2028, with a compound annual growth rate (CAGR) of approximately 6.8% over the forecast period. The report analyzes the DHA from algae market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the DHA from algae market.
Docosahexaenoic Acid (DHA), a supplement derived from algae, is one of the two essential fatty acids found in fish oil. The EPA is another (Eicosapentaenoic Acid). DHA, which has the molecular formula C22H3202, is a major structural element of the human brain, cerebral cortex, skin, sperm, testicles, and retina. The benefits of microalgae oil over fish oil, such as longer shelf life, high oxidative stability, and a palatable odor and flavor, are what is driving the worldwide DHA from the algae market. The global DHA from algae market is expanding as a result of rising consumer awareness of health issues and growing demand for DHA in the newborn formula. Macroeconomic factors such as the speed of urbanization, the increase in per capita income, the change in lifestyles, and the developing economy are driving the global DHA from the algae market. Manufacturers of DHA are investing in R&D and making an effort to differentiate their product line as the global market for DHA derived from algae is on the rise. By cooperating with regional rivals and expanding market integration, the business, which offers microalgae DHA, can increase its market share. When compared to alternative sources of polyunsaturated fatty acids, manufacturers of microalgae oil are unable to sell their goods at competitive prices due to the high cost of production—particularly for DHA and eicosapentaenoic acid from fish oil. In the end, this limits the global market for DHA derived from algae.
Governments all across the world have imposed travel bans and shut down businesses, offices, and markets due to the COVID 19 epidemic, disrupting the value chain. This has had a significant impact on the supply of raw materials used to make DHA from algae. Locking down production facilities due to this epidemic may reduce the amount of DHA from algae. However, growing consumer awareness of the importance of having a robust immune system to combat COVID-19 is anticipated to increase demand for nutrient-dense food products, such as protein bars and nutritious snacks, among other things. The market is anticipated to develop as a result of the rise in health products during and after the pandemic, as well as the growing shift from meat to plant-based products due to concerns about viral transmission through animal products.
In addition, a pattern of high cardiovascular diseases has been observed in nations with high HDI. Cardiovascular diseases have become widespread in the economies around them. For instance, the USA CDC estimates that diseases like diabetes and hypertension are responsible for 10 million fatalities per year. In addition, 1 in 4 deaths in the USA is related to heart disease. Omega 3 and omega 6 have been demonstrated to be beneficial when used with algae, and this has led to the synthesis of important lipids, which are simpler to degrade since they lack cell walls. Eicosapentaenoic acid and docosahexaenoic acid are the important fatty acids that make up this group of bioactive substances from a nutritional standpoint. These long-chain omega-3 fatty acids have a positive impact on human health, especially in the prevention of cardiac disorders like arrhythmia, stroke, and high blood pressure. All of these factors are projected to spur the global DHA from algae market growth.
With its numerous advantages, including its ability to lower LDL and promote heart health, regulate blood pressure, and, most significantly, treat some mental problems, fish oil has long had a market presence. It has also been in use for a considerable amount of time, making it a preferred option for many customers. However, while having greater or comparable nutritional content, DHA from algal still faces difficult production and extraction problems. Researchers and business people are still looking for more effective ways to lower costs by up to 25% and bring products up to par with supplements made from fish oil. Additionally, the price of 90 capsules of DHA based algal might reach INR 1699 whereas that of 90 capsules of fish oil can cost up to INR 1000.
The global DHA from algae market is segregated on the basis of type, application, distribution channel, and end-user.
By end-user, the market is divided into consumers, food manufacturers, nutraceutical manufacturers, cosmetics manufacturers, pharmaceutical manufacturers, and animal feed manufacturers. In 2021, the manufacturers of food accounted for the highest market share. It is because several infant formulae and other beverages are made with microalgae. Additionally, according to a number of studies, algae have relatively thin cell walls, which leads to good oxidative stability and facilitates commercial manufacturing of a variety of foods and beverages. The following also shows a variety of product innovations; additionally, they are cultivated in pure water to remove contaminants by up to 98 percent. Nevertheless, it is anticipated that the nutraceutical manufacturers segment would develop at the quickest rate, with a CAGR of 7.8% over the projection period of 2022–2027. It is a result of the product's numerous health advantages. Furthermore, the industry will advance due to the growing tendency of obtaining nourishment through vegan means.
Based on type, the market is divided into DHA powder and DHA oil. In 2021, the DHA powder accounted for the highest market share. Based on application, the market is divided into infant formula, nutritional supplements, food & beverage, and others. In 2021, the infant formula held the highest proportion.
By distribution network, the market is divided into convenient stores, hypermarkets or supermarkets, e-commerce, and individual stores. In 2021, the hypermarkets and supermarkets held the highest proportion. It is because there are many different microalgae items available on the shelves of such models, making it simpler to choose. The next distribution channel additionally provides customers with sizable discounts in exchange for the invoicing of "healthy" food items and supplements. However, it is anticipated that the market for online retail stores would expand the fastest, with a CAGR of 7.3 percent over the projected period of 2022–2028. It results from the manufacturer's decision to cut out the middleman and sell products straight to customers. In addition, the following channel frequently uses enticing discounts, cash backs, and wallet money as techniques to outpace the basic models.
|Historic Years||2016 - 2020|
|Forecast Years||2021 - 2028|
|Segments Covered||By Product Type, By Application, and By End Use|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Quantitative Units||Revenue in USD million/billion and CAGR from 2021 to 2028|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World|
|Countries Covered||U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others|
|Number of Companies Covered||10 companies with scope for including additional 15 companies upon request|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.|
|Customization Scope||Avail customized purchase options to meet your exact research needs.|
The North American region is anticipated to account for a significant portion of the global DHA from algae market due to the high adoption from nations like the U.S. and Canada. The global market for DHA from algae components is expanding primarily due to rising instances of cardiovascular illnesses and obesity in various nations. In the USA, for example, only 0.5 percent of people were considered vegans a few years ago; today, that number is more like 6 percent. The succeeding trend reflects the shift in food consumption away from vegan and healthy sources. The United States holds the largest share of the North American market for DHA from algae components. This is due to the increased use of Omega 3 supplements and foods, as well as increased public awareness of the substance's health benefits. The major companies' ongoing product introductions with improved formulae and domestic expansion have also fueled the expansion of the local market.
Some of the main competitors dominating the global DHA from algae market include - Goerlich Pharma, Nordic Naturals, Inc., Source Omega Llc, Kangcare Bioindustry Co., Ltd., Inovobiologic Inc., Xiamen Huison Biotech Co., Ltd., Deva Nutrition Llc, Wuhan Bioco Sci. & Tech. Dev. Co., Ltd., Hubei Ruiren Biotechnology Co., Ltd, and Polaris.
By Distribution Network
By End User
Growing demand for DHA in infant formula and rising consumer awareness of health issues are driving the growth of the global DHA from the algae market. The global DHA from the algae market is being driven by the advantages of microalgae oil over fish oil, such as longer shelf life, high oxidative stability, and a pleasing odor and flavor.
According to the report, the global DHA from algae market was worth about 389.1 (USD million) in 2021 and is predicted to grow to around 569.9 (USD million) by 2028, with a compound annual growth rate (CAGR) of around 6.80%.
The North American region is anticipated to account for a significant portion of the market due to the high adoption from nations like the U.S. and Canada. The global market for DHA from algae components is expanding primarily due to rising instances of cardiovascular illnesses and obesity in various nations.
Some of the main competitors dominating the Global DHA from algae market include - Goerlich Pharma, Nordic Naturals, Inc., Source Omega Llc, Kangcare Bioindustry Co., Ltd., Inovobiologic Inc., Xiamen Huison Biotech Co., Ltd., Deva Nutrition Llc, Wuhan Bioco Sci. & Tech. Dev. Co., Ltd., Hubei Ruiren Biotechnology Co., Ltd, and Polaris.