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).
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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Browse 25 market data tables* and 17 figures* on "Algal DHA and ARA Market” - Global forecast to 2026.
Key Trends and Analysis of the Algal DHA and ARA Market:
- Oil form segment accounted for the largest market share in the global algal DHA and ARA market in 2017. Utilization of DHA and ARA in nutritional supplement is propelling demand for algal DHA oil, as it is unsaturated omega 3 fatty acids, which is used for various applications. DHA and Eicosapentaenoic acid (EPA) from algal oil sources are used for various applications in infant formulas, nutritional supplements, and foods & beverages industries. It may also be used where formulating with fish oils may be a problem due to lack of fish stock, as supplement for pregnant and nursing women due to smell and supplement and food for vegetarian consumers. These factors are expected to boost growth of algal DHA and ARA oil in the global market.
Key Takeaways of the Market:
- Asia Pacific is expected to be the fastest growing region in the algal DHA and ARA market during the forecast period. This region has countries with the largest population and birth rates in the world. According to the United Nations, there were 675 million infants in 2016, globally. Moreover, Asia Pacific accounts for around half of the world’s infant population in 2016. This in turn is increasing demand for infant nutrition products, which includes algal DHA and ARA thereby fuelling growth of the market.
- Increasing awareness about infant nutrition and health has augmented algal DHA and ARA market growth in Asia Pacific. Moreover, government bodies such as Food Safety and Standards Authority of India (FSSAI) and United Nations Food and Agriculture Organization/World Health Organization (FAO/WHO) recommend that all infant formula should contain DHA and ARA. These factors are driving growth of the algal DHA and ARA market in the region.
- Major players operating in the global algal DHA and ARA market includes Koninklijke DSM N.V., Cabio Bioengineering (Wuhan) Co., Ltd., Corbion N.V., Lonza Group, Algisys, LLC, and Cargill, Incorporated among others.