South America Algae Omega-3 Ingredient Market - Growth, Trends and Forecasts (2020 - 2025)

South America Algae Omega 3 Ingredient Market is projected to grow at a CAGR of 12.4% during the forecast period 2020-2025.

• Omega-3 oils are essential fatty acids that have a broad range of health benefits, including cardiovascular, eye, and brain health, for which they are being widely used in various end-user applications, like dietary supplements, infant nutrition, functional food and beverages, and pharmaceutical and clinical nutrition.​
• In South America, 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. ​

Key Market Trends

Health Benefits associated with Omega-3 Consumption

Omega-3 fatty acids, particularly EPA and DHA, are essential in the human diet for proper growth, development, and good health. These have been found to be particularly good for heart health, joint and inflammation support, eye health, cognitive function, pregnancy, and healthy child development, and immune function, among other benefits. Omega-3s play an important role in supporting overall health, as well as chronic disease management and prevention.​ This, in turn, boosting the omega 3 market in the region.

Brazil holds the Largest Market Share in the Market Studied

The increasing health concerns in Brazil are driving the demand for algae omega-3 ingredient in supplements and drugs. Brazilians are mostly aware of the benefits of omega-3, pertaining to cardiovascular and brain health. ​Many international companies are introducing new algae-based EPA products or collaborating with Brazilian companies, to launch algae-based EPA fortified products and supplements in the Brazilian market. For instance, in 2018, Corbion (TerraVia) formed a joint venture with Bunge in Brazil that produces algae omega-3 rich oil for aquaculture feed in Brazil, so as to expand their business in Brazil and meet the demand for algae omega-3 ingredient in animal nutrition.

Competitive Landscape

Algae omega-3 supplements will be the target products in the market, as consumers are looking for health and wellness products. Fish oil is the major competitor for algae omega-3 oil, reducing its cost on lines of fish oil, is expected to attract the consumer market. Some of the major players the market studied are BIOPROCESS ALGAE, LLC, ADM, Source Omega LLC, Corboin among others.

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