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.
Market Dynamics
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:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section
Table of Contents
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