3 fatty acids or n3 fatty acids are other names for algae omega 3. Algae omega 3 is important in the human diet since it is a vital component of human metabolism. Omega 3 provides several health advantages, including improved eye, cardiovascular, and brain health. Algae omega 3 is widely employed in newborn nutrition, nutritional supplements, functional food and drinks, clinical nutrition, and pharmaceutical applications.
Nowadays, algal oil is gaining popularity among vegans looking for a healthy vegetarian supply of fatty acids (DHA and EPA). The increasing demand for algae omega 3 is mostly driven by its widespread usage in nutritional supplements.
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Growing health concerns about processed meat in developed nations are raising diet-consciousness among the younger population, which is boosting the market growth of the algal omega 3 dietary supplement segment. To meet the massive demand for algae omega 3, producers are transitioning from traditional algae farming to closed photo-bioreactor technology in order to achieve a quicker production rate. During the projection period, demand for algae omega 3 is predicted to rise in emerging markets. In the near future, increased R&D to extract omega 3 from various forms of algae is projected to generate a profitable potential for the algal omega 3 market.
Competitive Landscape:
The worldwide algae omega 3 market is extremely fragmented. Leading companies like BASF, DSM, and Corbion are embracing new innovative technologies and expanding their manufacturing capacity. Leading corporations are focusing on partnerships and joint ventures to expand their manufacturing capacity and worldwide visibility.
DSM purchased ‘Martek Bioscience’ in 2017 to strengthen its position in the algal omega 3 sector. The growing vegetarian population globally is driving the algal omega 3 industry to a larger extent. However, the high cost of R&D activities is projected to stymie market expansion.
Key Players:
- Archer Daniels Midland Company
- Cellana
- Nordic Naturals
- AlgiSys
- Solarvest BioEnergy
- Novotech Nutraceuticals Inc.
- Koninklijke DSM N.V.
- Corbin N.V.
- Polaris Industries
- BASF SE
- Source Omega LLC
- Neptune Wellness Solutions Inc.
- Algaecytes
- BioProcess Algae
- LLC
- TerraVia Holdings
- Qualitas Health
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Regional Analysis:
Health Awareness: Increasing awareness of the health benefits of omega-3 fatty acids has driven demand for supplements in the APAC market. Algae Omega-3 is often promoted for its potential benefits to heart health, brain function, and inflammation reduction.
Vegetarian and Vegan Trends: As more consumers in the APAC region adopt vegetarian, vegan, or flexitarian diets, the demand for plant-based omega-3 sources like Algae Omega-3 has risen.
Sustainability Concerns: Algae Omega-3 is considered a sustainable source compared to fish oil, which can be affected by overfishing and environmental concerns. This aspect appeals to environmentally conscious consumers in the region.
Regulatory Environment: The regulatory landscape for nutritional supplements varies across APAC countries. Companies need to navigate different regulatory requirements for marketing and distributing their products in each market.
Rising Disposable Income: Growing disposable income levels in some APAC countries have led to increased spending on health and wellness products, including supplements.
Key Segments of Industry:
- on the basis of type such as
- ALA (Alpha-linolenic acid)
- EPA (Eicosapentaenoic acid)
- DHA (Docosahexaenoic acid)
- on the basis of form such as
- Powder,
- Capsule
- on the basis of concentration such as
- High-concentrated
- Concentrated
- Low concentrated
- on the basis of application type
- Food and beverages,
- Dietary supplements,
- Pharmaceuticals,
- Animal nutrition
- on the basis of packaging type such as
- Bottle
- Bulk
- Tetra packaging
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