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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:
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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.
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
Key Algae Omega 3 Ingredient Market Trend
Key Algae Omega 3 Ingredient Market Challenge
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.
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.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
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.
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.
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.
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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.
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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;
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. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Type
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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