The global algal DHA and ARA market was valued at US$ 417.3 million in 2017, according to algal DHA and ARA Market Report, by Form (Oil and Powder), by Application (Infant Formula, Nutritional Supplements, Animal Feed, and Food & Beverages), and by Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa), published by Coherent Market Insights. The global algal DHA and ARA market is projected to reach US$ 1,225.5 million by 2026, exhibiting a CAGR of 14.3% during the forecast period.
Increasing number of campaigns’ promoting organic food by government bodies along with growing awareness about adverse health effects of chemical contaminants on infant health is expected to propel demand for organic baby food during the forecast period, aiding the growth of algal DHA and ARA market.
Algal oils are source of docosahexaenoic acid (DHA) for functional food fortification and infant formulas. Increasing adoption of dietary supplements coupled with growing awareness regarding benefits of dietary supplements in curing chronic diseases and weight management are fuelling growth of the global algal DHA and ARA market. According to Council for Responsible Nutrition, 68% of the American population consumed dietary supplements in 2015.
Presence of various alternative sources of extraction of DHA and ARA such as fungi, fish oil, krill oil, and dairy products are hindering growth of DHA and ARA extracted from algae.
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