Algal docosahexaenoic acid (DHA) and arachidonic acid (ARA) are sustainable and vegetarian source of DHA that provide benefits to maintain health of eye, brain, and heart. DHA has various applications in food and beverage, dietary supplements, and infant formula industries, owing to its benefits such as improved gastrointestinal health. Increasing consumer awareness related to the importance of DHA is expected to drive growth of the algal DHA and ARA market. Alternative sources of DHA and ARA such as food sources including fungi, fish, eggs, dairy products, and fish oils are available in the market. Therefore, easy availability of alternative sources of DHA and ARA might hamper growth of the global algal DHA and ARA market.
According to Coherent Market Insights in 2021, North America held the dominant position and accounted for a share of over 36.8% in the global algal DHA and ARA market in 2021. This is owing to increasing demand for algal DHA and ARA in infant formula and nutritional supplement market and increasing government support for the use of DHA and ARA in infant formula and food & beverages application. For instance, government agencies such as Food and Drug Administration (FDA), Food and Agriculture Organization (FAO), and European Food Safety Authority (EFSA) have recommended that all infant formula should contain DHA and ARA. This in turn, supports growth of the algal DHA and ARA market in the region.
Food and Beverage industry turned their attention to ARA and DHA because of the food and drink which are in demand because of health benefits which in turn is a driving growth for Algal DHA and ARA market.
Key features of the study:
- This report provides in-depth analysis of global algal DHA and ARA market, and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2022-2030), considering 2021 as the base year.
- It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market.
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global algal DHA and ARA market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
- Key companies covered as a part of this study Koninklijke DSM N.V., Cabio Bioengineering (Wuhan) Co., Ltd., Corbion N.V., Lonza Group, Algisys, LLC, and Cargill, Incorporated
- Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future products launches, technology up gradation, market expansion, and marketing tactics
- The global algal DHA and ARA market report caters to various stakeholders in this industry including investors, suppliers, algal DHA and ARA manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global algal DHA and ARA market
- Global Algal DHA and ARA Market, By Form:
- Global Algal DHA and ARA Market, By Application:
- Infant Formula
- Nutritional Supplements
- Animal Feed
- Food & Beverages
- Global Algal DHA and ARA Market, By Region:
- North America
- Rest of Europe
- Latin America
- Rest of Latin America
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- Company Profile
- Koninklijke DSM N.V.*
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments
- Future Plans
- Cabio Bioengineering (Wuhan) Co., Ltd.
- Corbion N.V.
- Lonza Group
- Algisys, LLC
- Cargill, Incorporated
“*” marked represents similar segmentation in other categories in the respective section