PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1587647
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1587647
According to Stratistics MRC, the Global Algae Omega-3 Ingredients Market is accounted for $1.1 billion in 2024 and is expected to reach $2.5 billion by 2030 growing at a CAGR of 15.3% during the forecast period. Algae Omega-3 components are plant-based sources of marine algae-derived essential omega-3 fatty acids, mainly EPA and DHA. These ecological and vegan substitutes are made using carefully regulated extraction and cultivation procedures, guaranteeing purity and lowering the possibility of contamination. Algae Omega-3 components are common in functional foods, nutritional supplements, and baby food because they promote joint, cardiovascular, and cognitive health.
According to recent research studies, high doses of DHA in baby formula or breast milk can have a positive effect on the growth of pre-term infants, such as an increase in height.
Rising demand for plant-based and sustainable alternatives
The growing demand for algae omega-3 has led to a wider consumer base, including vegans, vegetarians, flexitarians, and environmentally conscious individuals. Companies are investing in research and development, leading to innovative products in supplements, fortified foods, and beverages. This increased availability makes algae omega-3 more accessible to a diverse range of consumers, promoting sustainable living and a healthier lifestyle boosting the market growth.
High production costs
Algae omega-3 production is expensive due to complex cultivation, extraction, and purification processes, making it less accessible to consumers. This leads to premium pricing, primarily for higher-income consumers. Additionally, higher costs limit the competition against cheaper sources like fish oil, especially in price-sensitive regions. This slows market expansion and adoption, especially in developing markets, and limits its availability in mainstream retail channels.
Health benefits of omega-3
Omega-3 fatty acids, especially EPA and DHA, are becoming more and more in demand because of their beneficial effects on joint, cardiovascular, and cognitive health. Demand for omega-3 sources derived from algae is increasing as health-conscious customers place a higher priority on wellbeing. To increase the health benefits of functional foods, drinks, and nutraceuticals, algae omega-3 components are being added. This broadens the market even more and includes plant-based dairy, nutritional supplements, and fortified meals.
Limited awareness and availability
The market for algae omega-3 is slow due to consumers' lack of awareness of this alternative, with fish oil being the most recognized option. This reduces demand due to a lack of understanding of its health and environmental benefits. Additionally, limited availability in retail stores and online channels further hampers market expansion, especially in developing regions or smaller retail networks, making it difficult for interested consumers to purchase algae omega-3 products.
The COVID-19 pandemic impacted the Algae Omega-3 Ingredients Market by disrupting supply chains, delaying production, and increasing operational costs. However, heightened consumer focus on health and immunity boosted demand for omega-3 supplements, including algae-derived options, as people sought to support overall wellness. Despite initial logistical challenges, the market saw increased investment and product innovation, as companies adapted to meet the rising health-conscious consumer demand.
The trays segment is expected to be the largest during the forecast period
During the forecast period, the trays is expected to segment is anticipated to register the largest market share as they offer improved cultivation efficiency by providing controlled environments for algae growth, allowing optimal exposure to sunlight or artificial light for photosynthesis. This enhances yield and quality of omega-3 extraction algae. Trays also improve quality control by managing contamination risks and maintaining consistent quality, meeting industry standards for safe and pure omega-3 products which encourages the market.
The flexible packaging segment is expected to have the highest CAGR during the forecast period
The flexible packaging segment is expected to register lucrative growth during the estimation period as it enhances product freshness and shelf life by providing excellent barrier properties against moisture, light, and oxygen, preserving omega-3 oils. This extends the shelf life of algae omega-3 products, appealing to high-quality supplement consumers. Additionally, flexible packaging is lightweight and easy to transport, catering to the growing preference for convenience.
North America region is projected to account for the largest market share during the forecast period because North American consumers are increasingly adopting plant-based diets, seeking sustainable alternatives to traditional fish oil. In addition the high health awareness of omega-3's benefits, including improved heart, brain, and joint health, drives demand for omega-3 supplements, particularly algae omega-3, due to its purity and absence of contaminants propel the market growth.
During the estimation period, the Asia Pacific region is forecasted to record the highest growth rate due to the burgeoning nutraceutical and functional foods sector in Asia Pacific, especially in China, South Korea, and Japan, is using algal omega-3 in nutritional supplements, beverages, and fortified foods. In order to satisfy health-conscious parents, algae omega-3, especially DHA, is included in infant formula and maternal supplements driving the market.
Key players in the market
Some of the key players in Algae Omega-3 Ingredients Market include Aeroservey, Avio Pack Co. Ltd, Bordex Packaging, Econo-Pak, Form Plastics, Hulamin, KM Packaging Services Ltd, Lovell Industries, Monty's Bakehouse, Sowinpak and Taixing Group
In October 2024, Ardagh launched new lightweight 750ml Bordeaux and Schlegel wine bottles for the European market with a weight reduction from 410g to 360g; bottles use recycled glass cullet level of up to 80%, delivering a 12% reduction in carbon emissions per bottle.
In July 2023, KM Packaging extended ovenable flow wrap range. With increasing consumer focus on food safety, KM's new ovenable flow wrap products ensure foodstuffs can make it from supermarket shelf to plate without needing to be directly handled.