Global EPA Focused Algae Omega-3 Ingredient Market - Growth, Trends, and Forecast (2018 - 2023)

  • ID: 4544690
  • Report
  • Region: Global
  • 110 pages
  • Mordor Intelligence
UP TO OFF
until Dec 31st 2018
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FEATURED COMPANIES

  • ADM
  • Algaecytes
  • Algaecytes
  • Bioceuticals
  • Cellana
  • DSM
  • MORE
The global EPA focused algae omega-3 ingredient market is expected to register a CAGR of 13.4% during the forecast period of 2018-2023. Algae, the sustainable source of omega-3 fatty acid production, has attracted the interest of various manufacturers in the recent years. Algae omega-3 ingredient market includes DHA and EPA, which are essential fatty acids with more focused study on algal EPA. Although algae-based EPA is still a niche market, it has been recording faster growth than that of algae DHA. EPA is the most important compound that helps in the reduction of cellular inflammation, treatment of depression, and protection against atherosclerosis and thrombosis.

Consumer Demand for Dietary Supplements

Most of the EPA supplied to the human body is through the consumption of fish. However, many countries are below par in terms of fish consumption, thus leading to EPA deficiency among the population. People in most parts of the world are unable to obtain the recommended levels of EPA through their normal diets. Supplements are therefore better sources to supply EPA than fortified foods, because supplements are better in terms of purity and concentration than fortified foods, thus making them more effective to treat people with specific health issues. Algal based EPA does not have the fishy odor and after taste which is driving the market. Owing to the increased preference for dietary supplements, as compared to functional food, North America is the largest consumer of algal EPA supplements. However, the majority of supplements available in the market contain a mixture of EPA and DHA, while EPA-only supplements are recording increasing demand, due to targeted health benefits.

Infant Formula Market Boosted the Algal DHA Market

The market has been segmented by type, concentration type, application type, and purity/quality type. Commercially, there are two types of essential omega-3 fatty acids derived from algae - Eicosapentanoic acid (EPA) and Docosahexanoic acid (DHA). Due to its high demand in infant formula products and legal recommendations for the same, DHA holds the largest share in the market. EPA is poised to be the fastest growing market, supported by the various health benefits, which have increased its importance in drug formulation.

By concentration type, the market studied has been divided into high concentrated, concentrated, and low concentrated products. Currently, the low concentrated and concentrated algae ingredient segments are capturing the market. Growing awareness among consumers regarding the benefits of daily dosage of omega-3, has augmented the demand for high concentration products. Based on product purity and quality type, algae omega-3 has been segmented into premium grade and other grades. By application, the market has been segmented into infant formula, dietary supplements, pharmaceuticals, and animal nutrition. Due to increased health concern among pet owners, animal nutrition is another key growing segment in the market. Algal DHA products are mostly consumed by the infant formula in developed regions, such as North America and Europe, as they are considered to be of premium quality DHA, with a higher price tag.

Growing Dietary Supplement Market Offering Growth Opportunity

North America and Europe dominate the market studied, with their significant production and consumption of omega-3 fortified and supplemented products. Due to the growing fortified food market and increasing consumer awareness in the region, Asia-Pacific is estimated to record the fastest growth. Japan and China are the key regions in Asia-Pacific, and are mostly captured by major domestic players. South America is another growing segment in the algae omega-3 fatty acid market, driven by the high consumption of fortified products.

Key Developments in the Market
  • March 2017 - DSM and Evonik have established a joint venture for the development of omega-3 fatty acids, from sustainable natural marine algae source for animal nutrition. The initial product application is aimed at salmon aquaculture and pet food.
Major players - ADM, ALGAECYTES, ALGAECYTES, BIOCEUTICALS, CELLANA, DSM, NORDIC NATURALS, NOVOTECH NUTRACEUTICALS, INC., QUALITAS HEALTH, SOURCE-OMEGA, TERRAVIA (SOLAZYME), XIAMEN HUISON BIOTECH, among others.

Reasons to Purchase this Report
  • Analyzing outlook of the market with the recent trends and Porters five forces analysis
  • Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
  • Market segmentation analysis, including qualitative & quantitative research incorporating the impact of economic & non-economic aspects
  • Regional and Country level analysis integrating the demand and supply forces that are influencing the growth of the market
  • Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • 3-month analyst support, along with the Market Estimate sheet (in excel)
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FEATURED COMPANIES

  • ADM
  • Algaecytes
  • Algaecytes
  • Bioceuticals
  • Cellana
  • DSM
  • MORE
1. Introduction
1.1 Key Deliverables of the study
1.2 Study Assumptions
1.3 Market Definitions

2. Research Approach and Methodology
2.1 Introduction
2.2 Research Design
2.3 Study timelines
2.4 Study Phases
2.4.1 Secondary Research
2.4.2 Discussion Guide
2.4.3 Market Engineering & Econometric Modelling
2.4.4 Expert Validation

3. Market Overview
3.1 Market Dynamics
3.1.1 Drivers
3.1.1.1 Depletion of fish globally and algae is a sustainable source for commercial production
3.1.1.2 Rise in levels of pollutants through Aquaculture
3.1.1.3 Reduced contamination and superior product quality
3.1.2 Restraints
3.1.2.1 High downstream processing cost affecting final product price
3.1.3 Opportunities
3.1.3.1 Growing consumption of dietary supplement and functional food in developing region
3.1.4 Porters Five Forces Analysis
3.1.4.1 Bargaining Power of Suppliers
3.1.4.2 Bargaining Power of Buyers
3.1.4.3 Threat of New Entrants
3.1.4.4 Threat of Substitute Products and Services
3.1.4.5 Degree of Competition

4. General Analysis of Omega 3 Fatty Acid Market
4.1 By Type
4.1.1 Eicosapentanoic acid (EPA)
4.1.2 Docosahexanoic acid (DHA)
4.2 By Source Type
4.2.1 Fish oil
4.2.2 Algae oil
4.2.3 Krill oil
4.2.4 Others (flaxseed, hemp, others)

5. Analysis of Algae Based Omega 3 Fatty Acid Market
5.1 Algae based Omega 3 fatty acid Market Segmentation
5.1.1 By Type
5.1.1.1 Eicosapentanoic acid (EPA)
5.1.1.2 Docosahexanoic acid (DHA)
5.1.2 By Concentration Type
5.1.2.1 High concentrated omega 3 PUFA
5.1.2.2 Concentrated omega 3 PUFA
5.1.2.3 Low concentrated omega 3 PUFA
5.1.3 By Function type
5.1.3.1 Bone health
5.1.3.2 Heart health
5.1.3.3 Eye health
5.1.3.4 Cognitive health
5.1.3.5 Others (Immune, Inflammatory)
5.1.4 By Purity/Quality type
5.1.4.1 Premium
5.1.4.2 Others (medium, low quality)
5.1.5 Application Type
5.1.5.1 Infant formula
5.1.5.2 Fortified foods & beverages
5.1.5.3 Dietary supplements
5.1.5.4 Pharmaceuticals
5.1.5.5 Animal nutrition
5.1.6 By Geography
5.1.6.1 North America
5.1.6.2 Europe
5.1.6.3 Asia-Pacific
5.1.6.4 South America
5.1.6.5 Africa

6. Analysis of Algae based Eicosapentanoic Acid (EPA) Market
6.1 By Application Type
6.1.1 Dietary Supplement
6.1.2 Infant formula
6.1.3 Fortified F&B
6.1.4 Others
6.2 By Concentration Type
6.2.1 High concentration (100% EPA)
6.2.2 Other Concentration
6.3 By Purity/Quality type
6.3.1 Premium grade
6.3.2 Others (High/Medium)
6.4 By Geography
6.4.1 North America
6.4.1.1 US
6.4.1.2 Canada
6.4.1.3 Mexico
6.4.1.4 Rest of North America
6.4.2 Europe
6.4.2.1 Spain
6.4.2.2 UK
6.4.2.3 France
6.4.2.4 Germany
6.4.2.5 Russia
6.4.2.6 Rest of Europe
6.4.3 Asia Pacific
6.4.3.1 China
6.4.3.2 India
6.4.3.3 Japan
6.4.3.4 Australia
6.4.3.5 Rest of Asia-Pacific
6.4.4 South America
6.4.4.1 Brazil
6.4.4.2 Argentina
6.4.4.3 Rest of South America
6.4.5 Africa
6.4.5.1 South Africa
6.4.5.2 Rest of Africa

7. Competitive Landscape
7.1 Market Share Analysis
7.2 Strategy Adopted by Key players
7.3 Most Active Companies in the Past Five Years

8. Company Profiles
8.1 ADM
8.2 Algaecytes
8.3 Algaecytes
8.4 Bioceuticals
8.5 Cellana
8.6 DSM
8.7 Nordic Naturals
8.8 Novotech Nutraceuticals, Inc.
8.9 Qualitas Health
8.10 Source-Omega
8.11 Terravia (Solazyme)
8.12 Xiamen Huison Biotech

9. Appendix
9.1 Disclaimer
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  • ADM
  • Algaecytes
  • Algaecytes
  • Bioceuticals
  • Cellana
  • DSM
  • Nordic Naturals
  • Novotech Nutraceuticals Inc.
  • Qualitas Health
  • Source-Omega
  • Terravia (Solazyme)
  • Xiamen Huison Biotech
Note: Product cover images may vary from those shown
5 of 5
Note: Product cover images may vary from those shown
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