Dha From Algae Market Size, Share, Industry Trends and Forecast to 2030

What is the Market Size & CAGR of DHA From Algae market in 2021?

The market size of DHA from algae in 2021 was estimated to be USD 560 million, with a Compound Annual Growth Rate (CAGR) of 7.3%. This growth indicates a positive trend in the market for DHA sourced from algae, which is primarily used in various industries such as pharmaceuticals, food and beverages, and animal feed.

COVID-19 Impact on the DHA From Algae Market

The COVID-19 pandemic had a mixed impact on the DHA from algae market. While there was a temporary disruption in the supply chain due to lockdowns and restrictions, the demand for DHA supplements increased as people became more conscious of their health and immunity. As a result, the market witnessed a surge in sales of DHA products during the pandemic.

DHA From Algae Dynamics

The dynamics of the DHA from algae market are influenced by factors such as increasing health awareness among consumers, the shift towards plant-based products, and the rising demand for vegetarian sources of omega-3 fatty acids. With technological advancements in algae cultivation and extraction methods, the market for DHA from algae is poised for significant growth in the coming years.

Segments and Related Analysis

Segment 1: Pharmaceutical Industry

The pharmaceutical industry is one of the key segments driving the demand for DHA from algae. With the increasing focus on preventive healthcare and the rising prevalence of chronic diseases, there is a growing need for DHA supplements in pharmaceutical formulations.

Segment 2: Food and Beverage Industry

In the food and beverage industry, DHA from algae is used as a nutritional supplement in various products such as infant formula, dairy products, and functional foods. The demand for plant-based sources of omega-3 fatty acids is driving the integration of DHA from algae in food and beverage products.

Segment 3: Animal Feed Industry

The animal feed industry is another significant segment for DHA from algae, especially in aquaculture and poultry farming. DHA is essential for the growth and development of animals, and algae-derived DHA offers a sustainable and vegetarian source for animal feed formulations.

By Region Analysis

North America

North America is expected to hold a significant share in the DHA from algae market due to the presence of key players and the increasing consumer preference for plant-based supplements. The region is witnessing a growing demand for DHA-fortified products across various industries.

Europe

Europe is another prominent market for DHA from algae, driven by the rising adoption of vegetarian lifestyles and the stringent regulations promoting the use of sustainable and eco-friendly ingredients. The demand for algae-derived DHA is expected to rise in the coming years in the region.

Asia Pacific

The Asia Pacific region is witnessing a significant growth in the DHA from algae market, supported by the increasing awareness of the health benefits of omega-3 fatty acids and the expanding nutraceutical industry. Countries like China and India are emerging as key markets for DHA products.

Key Market Players and Competitive Landscape

The key players in the DHA from algae market include Algisys, Lonza Group, Cellana Inc., Simris Alg, and Neptune Wellness Solutions. These companies are actively involved in research and development activities to enhance their product offerings and expand their market presence.

Recent Happenings in the DHA From Algae Market

1. In January 2022, Lonza Group announced the launch of a new line of DHA supplements derived from algae, targeting the health-conscious consumers in the US market.

2. Algisys, a leading player in the DHA from algae market, secured a strategic partnership with a major pharmaceutical company to develop innovative DHA-based formulations for the treatment of neurological disorders.

3. Cellana Inc. introduced a new range of vegan DHA supplements made from sustainably sourced algae, catering to the growing demand for plant-based omega-3 products among consumers.

These recent developments underscore the growing importance of DHA from algae in the global market and the efforts made by key players to drive innovation and sustainability in the industry.