Market Size of Algae Omega-3 Ingredients Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 1.11 Billion |
| Market Size (2029) | USD 2.07 Billion |
| CAGR (2024 - 2029) | 13.36 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Algae Omega-3 Ingredients Market Analysis
The Algae Omega-3 Ingredients Market size is estimated at USD 1.11 billion in 2024, and is expected to reach USD 2.07 billion by 2029, growing at a CAGR of 13.36% during the forecast period (2024-2029).
- Omega-3 oils are essential fatty acids that have a broad range of health benefits, including cardiovascular, eye, and brain health. More specifically, omega-3 fatty acids are of three main types, alphalinolenic acid (ALA), eicosapentaenoic acid (EPA), and docosahexaenoic acid (DHA). Omega-3 products are consumed in the form of supplements and are also an important ingredient in a number of food products including, functional foods, infant formulae and others.
- Algal oil is gaining popularity among vegans and other people who want a source of long-chain omega-3 fatty acids (EPA and DHA). It does not pose the risk of contamination with pollutants, such as polychlorinated biphenyls.
- Globally, algae omega-3 ingredients are gaining prominence and becoming a part of the consumer's daily diet. The key reasons for this change have been the increased prevalence of lifestyle diseases and people taking preventive healthcare measures.
- The impact of the COVID-19 resulted in the generation of opportunities for manufacturers of health-oriented products, especially dietary supplements. The respective market has been prompted with the increase in consumer perception of these products to be helpful in maintaining immunity and its efficiency in fighting with the deadly virus. This in turn surges the demand for associated ingredients including algae omega-3.
Algae Omega-3 Ingredients Industry Segmentation
The global algae omega-3 ingredients market offers ingredient types such as Eicosapentaenoic Acid (EPA), Docosahexaenoic Acid (DHA), and EPA/DHA applicable to food and beverage, dietary supplements, pharmaceuticals, and animal nutrition. By geography, the market studied covers the major countries in the region, including North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
| By Type | |
| Eicosapentanoic Acid (EPA) | |
| Docosahexaenoic Acid (DHA) | |
| EPA/DHA |
| By Application | |
| Food and Beverages | |
| Dietary Supplements | |
| Pharmaceuticals | |
| Animal Nutrition |
| By Geography | |||||||||
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Algae Omega-3 Ingredients Market Size Summary
The algae omega-3 ingredients market is experiencing significant growth, driven by the increasing consumer awareness of the health benefits associated with omega-3 fatty acids, such as cardiovascular, eye, and brain health. These essential fatty acids, particularly EPA and DHA, are gaining popularity as a vegan-friendly alternative to traditional sources, offering a contamination-free option for those seeking long-chain omega-3s. The market is further bolstered by the rising prevalence of lifestyle diseases, prompting consumers to adopt preventive healthcare measures. The COVID-19 pandemic has also played a role in amplifying the demand for health-oriented products, including dietary supplements, as consumers seek to enhance their immunity. This trend has led to a surge in the consumption of algae omega-3 ingredients, which are increasingly being incorporated into various food products, such as functional foods and infant formulae.
In developing regions, the demand for algae omega-3 ingredients is predominantly driven by the growing market for infant formula products, particularly in China, where DHA and EPA are recognized for their crucial role in infant brain development and immunity. The United States also holds a significant share of the global market, with a strong focus on omega-3 supplements and fortified foods. The market is characterized by fragmentation, with key players like Koninklijke DSM N.V, Corbion, BASF, Polaris S.A., and Neptune Wellness Solutions Inc. facing competition from local entities. These companies are actively engaging in partnerships and joint ventures to expand their production capabilities and consumer reach, further fueling the market's growth trajectory.
Algae Omega-3 Ingredients Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porters Five Force Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Eicosapentanoic Acid (EPA)
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2.1.2 Docosahexaenoic Acid (DHA)
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2.1.3 EPA/DHA
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2.2 By Application
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2.2.1 Food and Beverages
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2.2.2 Dietary Supplements
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2.2.3 Pharmaceuticals
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2.2.4 Animal Nutrition
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2.3 By Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.1.4 Rest of North America
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2.3.2 Europe
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2.3.2.1 Spain
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2.3.2.2 United Kingdom
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2.3.2.3 Germany
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2.3.2.4 France
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2.3.2.5 Italy
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2.3.2.6 Russia
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2.3.2.7 Rest of Europe
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2.3.3 Asia Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 Rest of Asia-Pacific
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle East and Africa
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2.3.5.1 South Africa
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2.3.5.2 Saudi Arabia
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2.3.5.3 Rest of Middle East and Africa
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Algae Omega-3 Ingredients Market Size FAQs
How big is the Algae Omega-3 Ingredients Market?
The Algae Omega-3 Ingredients Market size is expected to reach USD 1.11 billion in 2024 and grow at a CAGR of 13.36% to reach USD 2.07 billion by 2029.
What is the current Algae Omega-3 Ingredients Market size?
In 2024, the Algae Omega-3 Ingredients Market size is expected to reach USD 1.11 billion.
