Algae Omega-3 Ingredients Market by Type, Sales Distribution Channel, Application

Description

List of Tables

[184 Pages Report] The Algae Omega-3 Ingredients Market size was estimated at USD 1.31 billion in 2023 and expected to reach USD 1.44 billion in 2024, at a CAGR 10.72% to reach USD 2.67 billion by 2030.

Algae Omega-3 Ingredients are a category of nutritional supplements and food additives derived from algae sources rather than traditional fish oils or flaxseed oils. These ingredients primarily consist of the omega-3 fatty acids EPA (eicosapentaenoic acid) and DHA (docosahexaenoic acid), which are essential for human health, supporting cardiovascular health, cognitive function, and anti-inflammatory responses. Unlike their marine- and plant-based counterparts, algae omega-3s offer a sustainable and vegetarian-friendly source of these critical fatty acids. One of the main drivers behind the adoption of algae omega-3 ingredients is the sustainability issue surrounding fish oils. Overfishing and the environmental impact of fishing practices have led consumers and manufacturers to seek more eco-friendly alternatives. Algae cultivation does not deplete natural fish stocks and has a significantly lower environmental footprint. As people shift towards healthy diets due to rising sedentary lifestyles, the demand for algae omega-3 ingredients has significantly boosted. However, the high production cost and associated side effects may hamper the adoption rate of the algae omega-3 ingredients. Nevertheless, the ongoing innovations in the production cycle and the introduction of many vegan products can create lucrative opportunities for the market.

KEY MARKET STATISTICS
Base Year [2023]	USD 1.31 billion
Estimated Year [2024]	USD 1.44 billion
Forecast Year [2030]	USD 2.67 billion
CAGR (%)	10.72%

Regional Insights

The Americas, particularly North America, have been at the forefront of embracing health and wellness trends, which has significantly impacted the demand for algae omega-3 ingredients. From a geographical perspective, North America accounts for a sizable portion of the global market due to increased consumption of omega-3 supplements, fortified foods, and growing awareness of the health benefits of omega-3. Furthermore, key companies' domestic expansion and frequent launches of products with improved formulations have fueled regional market growth. Similarly, in European countries, people are increasingly shifting towards vegan products, which have increased the consumption of algae omega-3 ingredients. Moreover, the emerging EU regulatory approvals for newly launched vegan omega-3 oil have raised market growth. The APAC region presents a dynamic and rapidly growing market for algae omega-3 ingredients, driven by economic growth, increasing health consciousness, and rising disposable incomes. In Asia-Pacific, China is the largest consumer of algae omega-3 ingredients as China has many companies focused on manufacturing algae omega-3 ingredients and finished products such as fortified foods/supplements due to the growing middle-class population, disposable income, and health awareness. Furthermore, many research studies have claimed the positive health benefits of algae omega-3 products, which has created lucrative opportunities for the market in the future.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Algae Omega-3 Ingredients Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
- Rising demand for EPA/DHA-based algae omega-3 in infant formulations
- Growing burden of lifestyle disease across the globe
- Rapid inclination towards the use of healthy diet supplements

Market Restraints
- Concern associated with high production cost and expensive post-processing

Market Opportunities
- Introduction of novel vegan products by market players
- Ongoing exploration of innovative methods of producing omega-3

Market Challenges
- Issues pertaining to adverse health impacts of algae omega-3 supplements

Market Segmentation Analysis
- Type: Rising utilization of docosahexaenoic acid (DHA) as a major ingredient in infant nutrition
- Application: High potential of algae omega-3 ingredients across food & beverage industry due to their health benefits and vegetarian status

Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Algae Omega-3 Ingredients Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Algae Omega-3 Ingredients Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Seafood heavyweight Thai Union announces deal with algae-based omega-3 ingredient producer

Thai Union has taken a big leap in their commitment to sustainability by recently forging a partnership with an algae-based omega-3 ingredient producer. This move to enhance Thai Union's supply chain with more sustainable ingredients will certainly cause positive shifts for the global seafood industry, as well as for the countless ecosystems that depend on it. Consumers will also benefit from this collaboration, receiving access to better quality products thanks to improved traceability and greater safety standards offered throughout various channels. The producers of these omega-3 ingredients are also contributing greatly to the sustainability cause with their advanced technology creating a more efficient and safer source of nutrition through the replacement of wild-caught fish oils used in traditional production techniques. This is yet another strong message sent by Thai Union on its dedication towards making healthy and sustainable seafood available to consumers across the world. [Published On: 2023-02-09]

DSM Builds algal portfolio to help meet the growing demand for omega-3

Driven by a growing demand for sustainable omega-3 ingredients, DSM has recently increased its portfolio of algal DHA and EPA powered solutions. This expanded range provides an environmentally conscious alternative for food and dietary supplement manufacturers interested in Omega-3 ingredients sourced from marine sources. DSM is investing in the sustainability of this sector by vertically integrating production from cultivation to finished product, offering extensive control over quality, cost and supply security. In addition to providing nutritious products that meet customers' needs, DSM is taking an active stance in protecting our oceans and preserving our resources for future generations. [Published On: 2023-01-18]

GC Rieber VivoMega Announces $75 Million Expansion

GC Rieber's recent announcement of an expansion in algae-based omega-3 ingredients comes as a welcome surprise in the nutraceuticals market. With its complete range of products for both humans and animals, Vivomega is set to support the increasing demand for sustainable and traceable health solutions in the global market. The USD 77.90 million investment will result in additional production capacity and R&D, allowing greater access to these beneficial omega-3 fatty acids from a reliable source. This step further cements GC Rieber's commitment to delivering innovative and easy -to-use solutions that offer excellent value for money. [Published On: 2022-11-29]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Algae Omega-3 Ingredients Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Algae Omega-3 Ingredients Market, highlighting leading vendors and their innovative profiles. These include AlgaeCytes Limited, Algarithm Ingredients Inc., AlgiSys BioSciences, Inc., Archer Daniels Midland Company, Arizona Algae Products, LLC, BASF SE, Bioriginal Food & Science Corp, BIOTECNOLOGIAS APLICADAS SL, BrainMD Health, Chambio Co., Ltd., ConnOils LLC, Corbion NV, GC Rieber VivoMega AS, Goerlich Pharma GmbH, KD Pharma Group, Lonza Group PLC, MiAlgae Ltd., Nature's Way, Inc., Nordic Naturals, NORSAN by San Omega GmbH, NutraPakUSA, Purazell GmbH, Qualitas Health, Inc., R&G Strategic Inc., Royal DSM, Solutex GC S.L., Source-Omega LLC by Cooke, SPECTRUM ORGANIC PRODUCTS, LLC, Testa Omega 3, Together Health Ltd., and Vital Nutrients by RHG & Company, Inc..

Market Segmentation & Coverage

This research report categorizes the Algae Omega-3 Ingredients Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
- Docosahexaenoic Acid
- Eicosapentaenoic Acid

Sales Distribution Channel
- Offline
- Online

Application
- Animal Nutrition
- Dietary Supplements
- Food & Beverage
- Pharmaceuticals

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

Product Code: MRR-B16853777438

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising demand for EPA/DHA-based algae omega-3 in infant formulations
  - 5.1.1.2. Growing burden of lifestyle disease across the globe
  - 5.1.1.3. Rapid inclination towards the use of healthy diet supplements
- 5.1.2. Restraints
  - 5.1.2.1. Concern associated with high production cost and expensive post-processing
- 5.1.3. Opportunities
  - 5.1.3.1. Introduction of novel vegan products by market players
  - 5.1.3.2. Ongoing exploration of innovative methods of producing omega-3
- 5.1.4. Challenges
  - 5.1.4.1. Issues pertaining to adverse health impacts of algae omega-3 supplements
5.2. Market Segmentation Analysis
- 5.2.1. Type: Rising utilization of docosahexaenoic acid (DHA) as a major ingredient in infant nutrition
- 5.2.2. Application: High potential of algae omega-3 ingredients across food & beverage industry due to their health benefits and vegetarian status
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Algae Omega-3 Ingredients Market, by Type

6.1. Introduction
6.2. Docosahexaenoic Acid
6.3. Eicosapentaenoic Acid

7. Algae Omega-3 Ingredients Market, by Sales Distribution Channel

7.1. Introduction
7.2. Offline
7.3. Online

8. Algae Omega-3 Ingredients Market, by Application

8.1. Introduction
8.2. Animal Nutrition
8.3. Dietary Supplements
8.4. Food & Beverage
8.5. Pharmaceuticals

9. Americas Algae Omega-3 Ingredients Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Algae Omega-3 Ingredients Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Algae Omega-3 Ingredients Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. Seafood heavyweight Thai Union announces deal with algae-based omega-3 ingredient producer
- 12.3.2. DSM Builds algal portfolio to help meet the growing demand for omega-3
- 12.3.3. GC Rieber VivoMega Announces $75 Million Expansion
- 12.3.4. Corbion and IQI strengthen their partnership for supplying sustainable Algae DHA for pet food applications
- 12.3.5. DSM's "Game-Changing" Vegan Omega-3 Oil Gets EU Regulatory Approval
- 12.3.6. Whiskey for microalgae? MiAlgae lands USD 2.7M for novel omega 3 production
- 12.3.7. BrainMD Launches The First-Ever* - High Potency EPA/DHA - Vegan Omega-3 Made From Sustainable & Certified Marine Algae
- 12.3.8. DSM supports marine ecosystem protection with launch of omega-3 alternative to fish oil
- 12.3.9. Polaris and Golden Omega partner for the North American market
- 12.3.10. Aquaculture pioneer Atlantic Sapphire announces the inclusion of algal omega-3 feed ingredients
12.4. Strategy Analysis & Recommendation

13. Competitive Portfolio

13.1. Key Company Profiles
13.2. Key Product Portfolio