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Algae Omega 3 Ingredients - Global Strategic Business Report

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    Report

  • 418 Pages
  • February 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 5029929

Global Algae Omega 3 Ingredients Market to Reach $2.4 Billion by 2030

The global market for Algae Omega 3 Ingredients estimated at US$1.1 Billion in the year 2022, is projected to reach a revised size of US$2.4 Billion by 2030, growing at a CAGR of 10.6% over the analysis period 2022-2030. EPA / DHA, one of the segments analyzed in the report, is projected to record 11.5% CAGR and reach US$1 Billion by the end of the analysis period. Growth in the Docosahexaenoic Acid (dha) segment is estimated at 9.5% CAGR for the next 8-year period.

The U.S. Market is Estimated at $371.4 Million, While China is Forecast to Grow at 12.9% CAGR

The Algae Omega 3 Ingredients market in the U.S. is estimated at US$371.4 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$280.2 Million by the year 2030 trailing a CAGR of 12.9% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.9% and 9.8% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 9.4% CAGR.

Select Competitors (Total 70 Featured)

  • Algaecytes Limited
  • Archer-Daniels-Midland Company (ADM)
  • BASF SE
  • Corbion N.V.
  • Koninklijke DSM N.V.
  • Nordic Naturals
  • Novotech Nutraceuticals Inc.
  • POLARIS
  • Solutex Inc
  • Source Omega LLC
  • XYMOGEN, Inc.

Economic Outlook

The global economic outlook is improving, and growth recovery, albeit on the lower side, is expected for this year and the next. The United States although witnessing slowing GDP growth in response to tight monetary and financial conditions, has nevertheless overcome the recession threat. Easing of headline inflation in Euro area is helping boost real incomes and is contributing to pick-up in economic activity. China is expected to see strong increases in GDP in the coming year as the pandemic threat recedes and the government sheds its zero-COVID policy. With optimistic GDP projections, India remains on-course to emerge into a US trillion economy by 2030, surpassing Japan and Germany.

The upturn, however, remains fragile and a number of interlocking challenges continue to run in parallel, such as continued uncertainty around the war in Ukraine; slower than expected decline in global headline inflation; continuation of food and fuel inflation as a persistent economic problem for most developing countries; and still high retail inflation and its impact on consumer confidence and spending. Countries and their governments are showing signs of weathering these challenges, which helps lift market sentiments. As governments continue to combat inflation to get it down to more economically conformable levels by raising interest rates, new job creation will slowdown and impact economic activity. Stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced.

Although corporate investments can likely be held back by inflation worries and weaker demand, rise of new technologies will reverse partially this prevailing investment sentiment. Rise of generative AI; applied AI; industrializing machine learning; next-generation software development; Web3; cloud and edge computing; quantum technologies; electrification and renewables and climate technologies beyond electrification and renewables, will open up the global investment landscape. The technologies hold the potential to drive sizeable incremental growth and value to global GDP in the coming years. The short-term is expected to be a mixed bag of challenges and opportunities for both consumers and investors alike. There is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.

What`s New?

  • Special discussions on the global economic climate and market sentiment
  • Coverage on global competitiveness and key competitor percentage market shares
  • Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to digital archives and trademarked research platform
  • Complimentary updates for one year
  • Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
Frequently Asked Questions about the Algae Omega 3 Ingredients Market

What is the estimated value of the Algae Omega 3 Ingredients Market?

The Algae Omega 3 Ingredients Market was estimated to be valued at $1.1 Billion in 2022.

What is the growth rate of the Algae Omega 3 Ingredients Market?

The growth rate of the Algae Omega 3 Ingredients Market is 10.2%, with an estimated value of $2.4 Billion by 2030.

What is the forecasted size of the Algae Omega 3 Ingredients Market?

The Algae Omega 3 Ingredients Market is estimated to be worth $2.4 Billion by 2030.

Who are the key companies in the Algae Omega 3 Ingredients Market?

Key companies in the Algae Omega 3 Ingredients Market include Algaecytes Limited, Archer, Daniels, Midland Company (ADM), BASF SE, Corbion N.V., Koninklijke DSM N.V., Nordic Naturals, Novotech Nutraceuticals Inc. and POLARIS.

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Pandemic Impact and Global Economic Update
  • From Pandemic to War & Inflation: “Gloomy Outlook for 2023 Despite Signs of Easing Inflationary Conditions”
  • Here’s How Inflationary Pressures Affect the Economy
  • Russia-Ukraine War, the Primary Culprit Responsible for the Hardships
  • Although Past Peak in 2023, Efforts to Solve the Inflation Puzzle Should Continue
  • Although Facing a Lower Recession Risk, Global Economic Growth in 2023 to Slowdown Amid War, Inflation, Elevated Interest Rates & Marginal Easing of Inflation: World Economic Growth Projections (Real GDP, Annual % Change) for the Years 2020 Through 2024
  • Pandemic Leads to Increased Consumer Focus on Health and Wellness Products
  • COVID-19 Unleashes Growth Opportunities
  • An Introduction to Algae Omega 3 Ingredients
  • Omega 3 Fatty Acids and the Role of Algal Oil
  • Global Market Outlook
  • Notable Trends & Drivers in Algae Omega-3 Ingredients Market
  • North America Remains at Forefront of Algae Omega-3 Ingredients Market
  • Competition
  • Algae Omega 3 Ingredients - Global Key Competitors Percentage Market Share in 2023 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
  • Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Algae Oil Emerges as Superhero on the Omega-3 Fatty Acid Stage
  • Algae-Derived Omega-3 to Become a Buzzing Trend with Bright Future
  • Emphasis on Healthy Lifestyles Drives Focus onto Health & Wellness Foods, Fueling Demand for Algae Omega 3 Ingredients
  • Growing Awareness about Health Benefits of Algae Products Drives Demand for Algae Omega 3 Ingredients
  • Algae Showing Tremendous Potential for Food Applications
  • Increased Emphasis on Natural Health Supplements & Foods Promises Market Growth
  • Over-Fishing Concerns Shift Focus onto Vegetarian Sources of Omega 3: Potential for Algae Omega 3 Ingredients
  • Rising Incidence of Chronic Diseases & Lifestyle-related Disorders Spur Market Gains
  • Global Cancer Incidence: Number of New Cancer Cases in Million for the Years 2018, 2020, 2025, 2030, 2035 and 2040
  • World Diabetes and Population Statistics (2019, 2030 & 2045)
  • Fatalities by Heart Conditions: Estimated Percentage Breakdown for Cardiovascular Disease, Ischemic Heart Disease, Stroke, and Others
  • Omega-3 Emerges as the Most Popular Heart-Healthy Ingredient
  • Health Benefits of Few Marine-derived Functional Food Ingredients
  • Surging Interest in Animal-free Omega-3 Ingredients
  • Omega-3 Supplementation Essential for Maintaining Cognitive Function in the Elderly
  • Amidst Rise in Mental Disorders, Spurt in Omega-3 Ingredients Demand Presents Avenues for Algae-Derived Options
  • Robust Growth in Functional Foods & Drinks to Bolster Demand for Algae Omega 3 Ingredients
  • Global Functional Foods & Drinks Market in US$ Million by Geographic Region/Country for 2022 and 2030
  • Pandemic-Led Focus on Health & Wellness Fuels Functional Foods Market Growth
  • Rising Demand for Dietary Supplements with Algae Omega 3 Ingredients
  • Quest for Plant-based and Vegetarian Sources Augurs Well for the Market
  • Omega-3 Fatty Acid Supplements Market - Major Challenges Faced by Brands in Sustaining Consumer Interest
  • Lipid-Fortified Algae Oil Emerges as a Promising Vegan Option
  • Digital Eyestrain and Other Vision-Related Concerns Underline Significance of Algae Omega 3s for Eye Health Nutraceuticals
  • Rising Demand for EPA & DHA in Infant Formula: A Massive Growth Punch for Algae Omega-3 Ingredients Market
  • Algae-based Omega 3s to Replace Fish Oil Omega 3s in Baby Milk and Baby Foods
  • High-Concentration, Vegan Omega-3 Oils from Microalgae
  • Companies Focus on Innovations for Driving Up Concentrations, Bioavailability and Plant-based Options
  • EPA Focused Algae Omega-3 Ingredients Market Set to Exhibit Great Leap Forward
4. GLOBAL MARKET PERSPECTIVE
  • TABLE 1: World Algae Omega 3 Ingredients Market Analysis of Annual Sales in US$ Thousand for Years 2014 through 2030
  • TABLE 2: World Recent Past, Current & Future Analysis for Algae Omega 3 Ingredients by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 3: World Historic Review for Algae Omega 3 Ingredients by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 4: World 16-Year Perspective for Algae Omega 3 Ingredients by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2014, 2023 & 2030
  • TABLE 5: World Recent Past, Current & Future Analysis for EPA / DHA by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 6: World Historic Review for EPA / DHA by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 7: World 16-Year Perspective for EPA / DHA by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 8: World Recent Past, Current & Future Analysis for Docosahexaenoic Acid (DHA) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 9: World Historic Review for Docosahexaenoic Acid (DHA) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 10: World 16-Year Perspective for Docosahexaenoic Acid (DHA) by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 11: World Recent Past, Current & Future Analysis for Eicosapentanoic Acid (EPA) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 12: World Historic Review for Eicosapentanoic Acid (EPA) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 13: World 16-Year Perspective for Eicosapentanoic Acid (EPA) by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 14: World Recent Past, Current & Future Analysis for Dietary Supplements & Functional Foods by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 15: World Historic Review for Dietary Supplements & Functional Foods by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 16: World 16-Year Perspective for Dietary Supplements & Functional Foods by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 17: World Recent Past, Current & Future Analysis for Pharmaceuticals by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 18: World Historic Review for Pharmaceuticals by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 19: World 16-Year Perspective for Pharmaceuticals by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 20: World Recent Past, Current & Future Analysis for Infant Formula by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 21: World Historic Review for Infant Formula by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 22: World 16-Year Perspective for Infant Formula by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 23: World Recent Past, Current & Future Analysis for Animal Nutrition by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 24: World Historic Review for Animal Nutrition by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 25: World 16-Year Perspective for Animal Nutrition by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 26: World Recent Past, Current & Future Analysis for Other Applications by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 27: World Historic Review for Other Applications by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 28: World 16-Year Perspective for Other Applications by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
III. MARKET ANALYSIS
  • UNITED STATES
  • Algae Omega 3 Ingredients Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2023 (E)
  • CANADA
  • JAPAN
  • Algae Omega 3 Ingredients Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2023 (E)
  • CHINA
  • Algae Omega 3 Ingredients Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2023 (E)
  • EUROPE
  • Algae Omega 3 Ingredients Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2023 (E)
  • FRANCE
  • Algae Omega 3 Ingredients Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2023 (E)
  • GERMANY
  • Algae Omega 3 Ingredients Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2023 (E)
  • ITALY
  • UNITED KINGDOM
  • Algae Omega 3 Ingredients Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2023 (E)
  • SPAIN
  • RUSSIA
  • REST OF EUROPE
  • ASIA-PACIFIC
  • Algae Omega 3 Ingredients Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2023 (E)
  • AUSTRALIA
  • Algae Omega 3 Ingredients Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2023 (E)
  • INDIA
  • Algae Omega 3 Ingredients Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2023 (E)
  • SOUTH KOREA
  • REST OF ASIA-PACIFIC
  • LATIN AMERICA
  • Algae Omega 3 Ingredients Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2023 (E)
  • ARGENTINA
  • BRAZIL
  • MEXICO
  • REST OF LATIN AMERICA
  • MIDDLE EAST
  • Algae Omega 3 Ingredients Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2023 (E)
  • IRAN
  • ISRAEL
  • SAUDI ARABIA
  • UNITED ARAB EMIRATES
  • REST OF MIDDLE EAST
  • AFRICA
  • Algae Omega 3 Ingredients Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2023 (E)
IV. COMPETITION

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Algaecytes Limited
  • Archer-Daniels-Midland Company (ADM)
  • BASF SE
  • Corbion N.V.
  • Koninklijke DSM N.V.
  • Nordic Naturals
  • Novotech Nutraceuticals Inc.
  • POLARIS
  • Solutex Inc
  • Source Omega LLC
  • XYMOGEN, Inc.