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ALGAL DHA AND ARA MARKET ANALYSIS

Algal DHA and ARA Market, 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) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

  • Published In : Dec 2022
  • Code : CMI2346
  • Pages :115
  • Formats :
      Excel and PDF
  • Industry : Food Ingredients

DHA (Docosahexaenoic Acid) and ARA (Arachidonic Acid) are types of fatty acids which are found in some of the foods like fish and eggs but are mostly found in breast milk. Both DHA and ARA are special type of fatty acids called polyunsaturated fatty acids. DHA and ARA are naturally present in the breast milk which in turn has many health benefits. It is to be believed by experts that child which feed breast milk has greater IQ and eye power because DHA and ARA helps in building nervous system as well as eye power. Due to this Supplementary Formula are nowadays adding DHA and ARA separately to provide health benefits.

Global algal DHA and ARA market was valued at US$ 479.29 Million in 2021 in terms of revenue, exhibiting a CAGR of 7.47% during the forecast period (2022 to 2030).

Drivers

Algal DHA and ARA are gaining traction in the market owing to the various health benefits it offers. Consumption of DHA and ARA reduces aging and improves brain, gastrointestinal, and heart health. Therefore, health benefits offered by DHA- and ARA-based products are propelling demand for DHA and ARA enriched food and beverages all over the world, which in turn is driving growth of algal DHA and ARA in the food & beverages industry.

Factor such as government initiatives promoting nutritional programs and marketing activities by leading manufacturers through social media are creating awareness among consumers regarding health benefits of nutraceutical ingredients such as omega-3 fatty acids including DHA and ARA. For instance, in 2020, Archer Daniel Midland Company, an American multinational food processing and commodities trading corporation in association with European Vegetable Protein Association (EUVEPRO) created awareness related to nutritional supplements and provided necessary consultation to vegetable protein producers for human consumption, in Europe.

The impact of COVID-19 resulted in the generation of opportunities for manufacturers of health-oriented products, especially dietary supplements. The global algal DHA and ARA market has been prompted by the increase in consumer perception of these products to help maintain immunity and their efficiency in fighting the deadly virus. This in turn, surges the demand for associated ingredients including algal DHA and ARA.

 Figure 1. Global Algal DHA and ARA Market Value Share (%), By Region, 2021

ALGAL DHA AND ARA MARKET

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Market Restraints

Alternative sources of DHA and ARA include fungi, fish, eggs, dairy products, and fish oils. Majority of DHA products are consumed from such alternative sources (fish oils, fish, eggs, and meat) in North America. Thus, easy availability of alternative DHA sources will restrain growth of the algal DHA and ARA market, across the globe.

Algal DHA and ARA Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2021: US$ 479.29 Mn 
Historical Data for: 2017-2020 Estimated Year: 2022
Forecast Period 2022 to 2030 CAGR: 7.47% Forecast Period: 2022-2030
Geographies covered:
  • By Region: North America, Latin America, Europe, Asia Pacific, Middle East & Africa
Segments covered:
  • By Form: Powder, Oil                
  • By Application: Infant Formula, Nutritional Supplements, Animal Feed, Food & Beverages
Companies covered:

Koninklijke DSM N.V., Cabio Bioengineering (Wuhan) Co., Ltd., Corbion N.V., Lonza Group, Algisys, LLC, and Cargill, Incorporated. 

Growth Drivers:
  • Health benefits offered by DHA- and ARA-based products
Restraints & Challenges:
  • Alternative sources for DHA and ARA

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 Market Trends

The growth of the global algal DHA and ARA market is driven by growing demand for DHA in infant formula and increasing health consciousness among consumers. Advantages of microalgae oil market over fish oil, most demanded in DHA market such as greater shelf-life i.e. high oxidative stability and pleasant odor and taste are fueling the global algal DHA and ARA market.

Macroeconomic factors such as rapid rate of urbanization, increasing per capita income, changing lifestyle, and growing economy driving the global algal DHA and ARA market. Microalgae oil manufacturers are not able to charge at competitive prices compared to alternative poly unsaturated fatty acid sources due to high production cost, particularly DHA and eicospentaenoic acid from fish oil.

Figure 2. Global Algal DHA and ARA Market Value Share (%), By Application, 2021

ALGAL DHA AND ARA MARKET

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Recent Developments

  • In May 2022, DSM, a Dutch multinational corporation active in the fields of health, nutrition and materials signed an agreement with Firmenich, a private Swiss company in the fragrance and flavor business to establish the leading nutrition, beauty and well-being partner.

Competitive Section

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. 

 

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Frequently Asked Questions

Global algal DHA and ARA market was valued at around US$ 479.29 Million in 2021.

Health benefits offered by DHA- and ARA-based products are driving demand for DHA and ARA enriched food and beverages globally. This is one the major factors that is expected to propel growth of the market over the forecast period.

Growing demand for DHA in infant formula and increasing health consciousness among consumers is one of the main trends in market. 

Alternative sources of DHA and ARA include fungi, fish, eggs, dairy products, and fish oils act as restraints to the market growth.

Major players operating in the market includes Koninklijke DSM N.V., Cabio Bioengineering (Wuhan) Co., Ltd., Corbion N.V., Lonza Group, Algisys, LLC, and Cargill, Incorporated. 

The market is estimated to grow at around 7.47% CAGR in the forecast period (2022-2030).
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