Algae Omega 3 Ingredient Market by Type and Geography - Forecast and Analysis 2022-2026

Published: May 2022 Pages: 123 SKU: IRTNTR73543

At a CAGR of 11.95%, the algae omega 3 ingredient market share is expected to rise to USD 797.48 million from 2021 to 2026.

This algae omega 3 ingredient market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers algae omega 3 ingredient market segmentation by the following:

  • Type - DHA, EPA, and EPA and DHA
  • Geography - North America, Europe, APAC, South America, and Middle East and Africa

What will the Algae Omega 3 Ingredient Market Size be During the Forecast Period?

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The algae omega 3 ingredient market report also offers information on several market vendors, including AlgaeCytes Ltd., AlgiSys BioSciences Inc., Archer Daniels Midland Co., Corbion NV, Croda International Plc, GC Rieber AS, Koninklijke DSM NV, Lonza Group Ltd., Neptune Wellness Solutions Inc., Nordic Naturals, Novotech Nutraceuticals Inc., Orkla ASA, Polaris, Simris ALG AB, Source Omega LLC, Vital Health Foods, Xiamen Huison Biotech Co. Ltd., and Xymogen among others.

Algae Omega 3 Ingredient Market: Key Drivers, Trends, and Challenges

The health benefits associated with algae products is notably driving the algae omega 3 ingredient market growth, although factors such as the availability of alternative sources for omega 3 ingredient may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the algae omega 3 ingredient industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Algae Omega 3 Ingredient Market Driver

  • One of the key factors driving the global algae omega 3 ingredient market growth is the health benefits associated with algae products.
  • Algae products contain DHA, which accounts for around 96.94% of the omega-3 fats in the brain.
  • The consumption of algae products such as DHA omega-3 is essential during pregnancy to aid brain growth in the fetus and support a healthy pregnancy.
  • The consumption of DHA during pregnancy results in higher novelty preference for visual recognition memory and higher scores for verbal intelligence of the child.
  • Its consumption is good for eye health.
  • The consumption of algae fats regulates heartbeat, reduces blood pressure, decreases blood clot formation, reduces overall inflammation, improves cardiovascular health, and improves memory.
  • A higher intake of omega-3 oil significantly reduces the incidences of vascular dementia and Alzheimer's disease. 

Key Algae Omega 3 Ingredient Market Trend

  • Growing demand for naturally obtained health supplements is one of the key algae omega 3 ingredient market trends that is expected to impact the industry positively in the forecast period.
  • Manufacturers are increasingly incorporating algae products in dietary supplements, considering its adoption among consumers.
  • Vegetology, a company dedicated to the development of innovative health and beauty products, offers Opti3 Omega-3 EPA and DHA, which are made of microalgal particles.
  • Algae products are a 100% vegetable source for omega-3 supplements, which are generally marketed as vegan omega-3 supplements.
  • Owing to factors such as the growing prevalence of diseases due to lifestyle changes and deficiency of various elements, the consumption of plant-based fats and lipids is rapidly increasing around the globe.
  • The sales of dietary supplements containing algae products are anticipated to witness significant growth, which, in turn, will boost the sales of vendors in the market in the coming years.

Key Algae Omega 3 Ingredient Market Challenge

  • One of the key challenges to the global algae omega 3 ingredient market growth is the availability of alternative sources for omega 3 ingredients.
  • Despite the increase in the demand for algae-based products, a large number of seafood products offer similar or higher omega 3 ingredients.
  • Atlantic Salmon have a DHA of 1.24 gm per serving and 0.59 EPA gm per serving.
  • Some of the alternatives, such as Salmon and Atlantic herring, offer more DHA than algae food products.
  • Seafood is highly popular among non-vegetarians.
  • The availability of alternative sources is expected to restrict the growth of the market during the forecast period.

This algae omega 3 ingredient market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global algae omega 3 ingredient market as a part of the global packaged foods and meats market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the algae omega 3 ingredient market during the forecast period.

Who are the Major Algae Omega 3 Ingredient Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • AlgaeCytes Ltd.
  • AlgiSys BioSciences Inc.
  • Archer Daniels Midland Co.
  • Corbion NV
  • Croda International Plc
  • GC Rieber AS
  • Koninklijke DSM NV
  • Lonza Group Ltd.
  • Neptune Wellness Solutions Inc.
  • Nordic Naturals
  • Novotech Nutraceuticals Inc.
  • Orkla ASA
  • Polaris
  • Simris ALG AB
  • Source Omega LLC
  • Vital Health Foods
  • Xiamen Huison Biotech Co. Ltd.
  • Xymogen

 

This statistical study of the algae omega 3 ingredient market encompasses successful business strategies deployed by the key vendors. The algae omega 3 ingredient market is fragmented and the vendors are deploying growth strategies such as the acquisition of new brands and the formation of partnerships to compete in the market.

Product Insights and News

  • adm.com - The company offers algae omega 3 ingredients namely Onavita DHA.
  • adm.com - The Ag services and oilseeds segment includes global activities related to the origination, merchandising, transportation, and storage of agricultural raw materials, and the crushing and further processing of oilseeds such as soybeans and soft seeds into vegetable oils and protein meals.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The algae omega 3 ingredient market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Algae Omega 3 Ingredient Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the algae omega 3 ingredient market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Algae Omega 3 Ingredient Market?

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36% of the market's growth will originate from North America during the forecast period. The US is the key market for algae omega 3 ingredients in North America. Market growth in this region will be faster than the growth of the market in South America.

The region focuses on increasing the production of aquatic products while simultaneously ensuring that food safety is not compromised and that aquatic ecosystems remain unpolluted. This will facilitate the algae omega 3 ingredient market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the COVID-19 outbreak significantly changed the fundamentals of the algae omega 3 ingredients market in North America, including the consumption pattern of consumers and business revenues of vendors operating in this region. However, since H2 2021, due to the introduction of vaccines, the number of COVID-19 cases in the region has reduced. Trade restrictions were lifted gradually, which ensured algae exports from foreign countries. In 2020, the US government provided a relief fund to industries affected by the pandemic. The government offered USD 300 million of direct financial relief to fisheries participating in the country. Moreover, the increasing growth of vegan seafood culture is expected to increase the demand for various algae products, which, in turn, will positively impact the growth of the regional market during the forecast period.

What are the Revenue-generating Type Segments in the Algae Omega 3 Ingredient Market?

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The algae omega 3 ingredient market share growth by the DHA segment will be significant during the forecast period. The growth is attributed to the multiple benefits of DHA consumption. For instance;

  • The consumption of algae omega-3 ingredient products such as DHA omega-3 is essential during pregnancy to aid brain growth in the fetus and support a healthy pregnancy. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the algae omega 3 ingredient market size and actionable market insights on post COVID-19 impact on each segment.

 

Algae Omega 3 Ingredient Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 11.95%

Market growth 2022-2026

$ 797.48 million

Market structure

Fragmented

YoY growth (%)

11.35

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 36%

Key consumer countries

US, China, Germany, UK, and France

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

AlgaeCytes Ltd., AlgiSys BioSciences Inc., Archer Daniels Midland Co., Corbion NV, Croda International Plc, GC Rieber AS, Koninklijke DSM NV, Lonza Group Ltd., Neptune Wellness Solutions Inc., Nordic Naturals, Novotech Nutraceuticals Inc., Orkla ASA, Polaris, Simris ALG AB, Source Omega LLC, Vital Health Foods, Xiamen Huison Biotech Co. Ltd., and Xymogen

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Algae Omega 3 Ingredient Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive algae omega 3 ingredient market growth during the next five years
  • Precise estimation of the algae omega 3 ingredient market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the algae omega 3 ingredient industry across North America, Europe, APAC, South America, and Middle East and Africa
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of algae omega 3 ingredient market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
  • 3.4 Market outlook: Forecast for 2021-2026
    • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
    • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
    • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
    • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

  • 4.1 Five forces summary
    • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
  • 4.2 Bargaining power of buyers
    • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
  • 4.3 Bargaining power of suppliers
    • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
  • 4.4 Threat of new entrants
    • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
  • 4.5 Threat of substitutes
    • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
  • 4.6 Threat of rivalry
    • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
  • 4.7 Market condition
    • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Type

  • 5.1 Market segments
    • Exhibit 24: Chart on Type - Market share 2021-2026 (%)
    • Exhibit 25: Data Table on Type - Market share 2021-2026 (%)
  • 5.2 Comparison by Type
    • Exhibit 26: Chart on Comparison by Type
    • Exhibit 27: Data Table on Comparison by Type
  • 5.3 DHA - Market size and forecast 2021-2026
    • Exhibit 28: Chart on DHA - Market size and forecast 2021-2026 ($ million)
    • Exhibit 29: Data Table on DHA - Market size and forecast 2021-2026 ($ million)
    • Exhibit 30: Chart on DHA - Year-over-year growth 2021-2026 (%)
    • Exhibit 31: Data Table on DHA - Year-over-year growth 2021-2026 (%)
  • 5.4 EPA - Market size and forecast 2021-2026
    • Exhibit 32: Chart on EPA - Market size and forecast 2021-2026 ($ million)
    • Exhibit 33: Data Table on EPA - Market size and forecast 2021-2026 ($ million)
    • Exhibit 34: Chart on EPA - Year-over-year growth 2021-2026 (%)
    • Exhibit 35: Data Table on EPA - Year-over-year growth 2021-2026 (%)
  • 5.5 EPA and DHA - Market size and forecast 2021-2026
    • Exhibit 36: Chart on EPA and DHA - Market size and forecast 2021-2026 ($ million)
    • Exhibit 37: Data Table on EPA and DHA - Market size and forecast 2021-2026 ($ million)
    • Exhibit 38: Chart on EPA and DHA - Year-over-year growth 2021-2026 (%)
    • Exhibit 39: Data Table on EPA and DHA - Year-over-year growth 2021-2026 (%)
  • 5.6 Market opportunity by Type
    • Exhibit 40: Market opportunity by Type ($ million)

6 Customer Landscape

  • 6.1 Customer landscape overview
    • Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

  • 7.1 Geographic segmentation
    • Exhibit 42: Chart on Market share by geography 2021-2026 (%)
    • Exhibit 43: Data Table on Market share by geography 2021-2026 (%)
  • 7.2 Geographic comparison
    • Exhibit 44: Chart on Geographic comparison
    • Exhibit 45: Data Table on Geographic comparison
  • 7.3 North America - Market size and forecast 2021-2026
    • Exhibit 46: Chart on North America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 47: Data Table on North America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 48: Chart on North America - Year-over-year growth 2021-2026 (%)
    • Exhibit 49: Data Table on North America - Year-over-year growth 2021-2026 (%)
  • 7.4 Europe - Market size and forecast 2021-2026
    • Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ million)
    • Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
    • Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
    • Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)
  • 7.5 APAC - Market size and forecast 2021-2026
    • Exhibit 54: Chart on APAC - Market size and forecast 2021-2026 ($ million)
    • Exhibit 55: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
    • Exhibit 56: Chart on APAC - Year-over-year growth 2021-2026 (%)
    • Exhibit 57: Data Table on APAC - Year-over-year growth 2021-2026 (%)
  • 7.6 South America - Market size and forecast 2021-2026
    • Exhibit 58: Chart on South America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 59: Data Table on South America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 60: Chart on South America - Year-over-year growth 2021-2026 (%)
    • Exhibit 61: Data Table on South America - Year-over-year growth 2021-2026 (%)
  • 7.7 Middle East and Africa - Market size and forecast 2021-2026
    • Exhibit 62: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
    • Exhibit 63: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
    • Exhibit 64: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • Exhibit 65: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
  • 7.8 US - Market size and forecast 2021-2026
    • Exhibit 66: Chart on US - Market size and forecast 2021-2026 ($ million)
    • Exhibit 67: Data Table on US - Market size and forecast 2021-2026 ($ million)
    • Exhibit 68: Chart on US - Year-over-year growth 2021-2026 (%)
    • Exhibit 69: Data Table on US - Year-over-year growth 2021-2026 (%)
  • 7.9 Germany - Market size and forecast 2021-2026
    • Exhibit 70: Chart on Germany - Market size and forecast 2021-2026 ($ million)
    • Exhibit 71: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
    • Exhibit 72: Chart on Germany - Year-over-year growth 2021-2026 (%)
    • Exhibit 73: Data Table on Germany - Year-over-year growth 2021-2026 (%)
  • 7.10 UK - Market size and forecast 2021-2026
    • Exhibit 74: Chart on UK - Market size and forecast 2021-2026 ($ million)
    • Exhibit 75: Data Table on UK - Market size and forecast 2021-2026 ($ million)
    • Exhibit 76: Chart on UK - Year-over-year growth 2021-2026 (%)
    • Exhibit 77: Data Table on UK - Year-over-year growth 2021-2026 (%)
  • 7.11 China - Market size and forecast 2021-2026
    • Exhibit 78: Chart on China - Market size and forecast 2021-2026 ($ million)
    • Exhibit 79: Data Table on China - Market size and forecast 2021-2026 ($ million)
    • Exhibit 80: Chart on China - Year-over-year growth 2021-2026 (%)
    • Exhibit 81: Data Table on China - Year-over-year growth 2021-2026 (%)
  • 7.12 France - Market size and forecast 2021-2026
    • Exhibit 82: Chart on France - Market size and forecast 2021-2026 ($ million)
    • Exhibit 83: Data Table on France - Market size and forecast 2021-2026 ($ million)
    • Exhibit 84: Chart on France - Year-over-year growth 2021-2026 (%)
    • Exhibit 85: Data Table on France - Year-over-year growth 2021-2026 (%)
  • 7.13 Market opportunity by geography
    • Exhibit 86: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers
  • 8.2 Market challenges
  • 8.3 Impact of drivers and challenges
    • Exhibit 87: Impact of drivers and challenges in 2021 and 2026
  • 8.4 Market trends

9 Vendor Landscape

  • 9.1 Overview
  • 9.2 Vendor landscape
    • Exhibit 88: Overview on Criticality of inputs and Factors of differentiation
  • 9.3 Landscape disruption
    • Exhibit 89: Overview on factors of disruption
  • 9.4 Industry risks
    • Exhibit 90: Impact of key risks on business

10 Vendor Analysis

  • 10.1 Vendors covered
    • Exhibit 91: Vendors covered
  • 10.2 Market positioning of vendors
    • Exhibit 92: Matrix on vendor position and classification
  • 10.3 Archer Daniels Midland Co.
    • Exhibit 93: Archer Daniels Midland Co. - Overview
    • Exhibit 94: Archer Daniels Midland Co. - Business segments
    • Exhibit 95: Archer Daniels Midland Co. - Key offerings
    • Exhibit 96: Archer Daniels Midland Co. - Segment focus
  • 10.4 Corbion NV
    • Exhibit 97: Corbion NV - Overview
    • Exhibit 98: Corbion NV - Business segments
    • Exhibit 99: Corbion NV - Key news
    • Exhibit 100: Corbion NV - Key offerings
    • Exhibit 101: Corbion NV - Segment focus
  • 10.5 Koninklijke DSM NV
    • Exhibit 102: Koninklijke DSM NV - Overview
    • Exhibit 103: Koninklijke DSM NV - Business segments
    • Exhibit 104: Koninklijke DSM NV - Key news
    • Exhibit 105: Koninklijke DSM NV - Key offerings
    • Exhibit 106: Koninklijke DSM NV - Segment focus
  • 10.6 Neptune Wellness Solutions Inc.
    • Exhibit 107: Neptune Wellness Solutions Inc. - Overview
    • Exhibit 108: Neptune Wellness Solutions Inc. - Product / Service
    • Exhibit 109: Neptune Wellness Solutions Inc. - Key offerings
  • 10.7 Nordic Naturals
    • Exhibit 110: Nordic Naturals - Overview
    • Exhibit 111: Nordic Naturals - Product / Service
    • Exhibit 112: Nordic Naturals - Key offerings
  • 10.8 Novotech Nutraceuticals Inc.
    • Exhibit 113: Novotech Nutraceuticals Inc. - Overview
    • Exhibit 114: Novotech Nutraceuticals Inc. - Product / Service
    • Exhibit 115: Novotech Nutraceuticals Inc. - Key offerings
  • 10.9 Polaris
    • Exhibit 116: Polaris - Overview
    • Exhibit 117: Polaris - Product / Service
    • Exhibit 118: Polaris - Key offerings
  • 10.10 Simris ALG AB
    • Exhibit 119: Simris ALG AB - Overview
    • Exhibit 120: Simris ALG AB - Product / Service
    • Exhibit 121: Simris ALG AB - Key offerings
  • 10.11 Source Omega LLC
    • Exhibit 122: Source Omega LLC - Overview
    • Exhibit 123: Source Omega LLC - Product / Service
    • Exhibit 124: Source Omega LLC - Key offerings
  • 10.12 Vital Health Foods
    • Exhibit 125: Vital Health Foods - Overview
    • Exhibit 126: Vital Health Foods - Product / Service
    • Exhibit 127: Vital Health Foods - Key offerings

11 Appendix

  • 11.1 Scope of the report
  • 11.2 Inclusions and exclusions checklist
    • Exhibit 128: Inclusions checklist
    • Exhibit 129: Exclusions checklist
  • 11.3 Currency conversion rates for US$
    • Exhibit 130: Currency conversion rates for US$
  • 11.4 Research methodology
    • Exhibit 131: Research methodology
    • Exhibit 132: Validation techniques employed for market sizing
    • Exhibit 133: Information sources
  • 11.5 List of abbreviations
    • Exhibit 134: List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases

DATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts

REPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape

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Key Questions Answered

  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?

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