ALGAL DHA AND ARA MARKET ANALYSIS
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).
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.
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