Algae Omega-3 Ingredients Market Size, Share, Opportunities, And Trends By Type (Eicosapentanoic Acid (EPA), Docosahexaenoic Acid (DHA), EPA/DHA), By Application (Food And Beverages, Dietary Supplements, Pharmaceuticals, Animal Nutrition), And By Geography - Forecasts From 2023 To 2028

The algae omega-3 ingredients market is projected to grow considerably during the forecast period

Omega-3 fatty acids, also known as omega-3s are healthy fats that perform important functions in an individual’s body, which are essential for survival. Omega-3 fatty acids contain three specific ingredients, mainly Docosahexaenoic Acid (DHA) and Eicosapentaenoic Acid (EPA), which are found in seafood, and Alpha-linolenic Acid (ALA), which are found in plants. High concentrations of DHA and EPA are found in sea creatures such as tuna, salmon, herrings, mackerel and sardines and the most common fatty acid, ALA, is found in plant oils (soybean, canola), leafy vegetables like kale and spinach, chia and flax seeds, and some animal fats, mainly from grass-fed animals.

Introduction:

Algae omega-3 is the omega-3 fatty acids found in marine algae, with their main components being DHA and EPA. Omega-3 fatty acids are a type of polyunsaturated fats that provide the necessary functioning blocks for the body, which include EPA, DHA and ALA. Omega-3s are a vital part of the cell membranes, helping to contain and stabilize the structure and supporting interactions between the cells and they are most concentrated in an individual’s brain and eyes. They provide the body with energy and support many body systems, such as the cardiovascular system and endocrine system. It has been proven to lower the risk of many health conditions, such as cardiovascular disease (CVD), sudden death from abnormal heart rhythm (arrhythmia), blood clots, some form of cancer (including breast cancer), Alzheimer’s disease and dementia, and age-related macular degeneration (AMD). Omega-3 fatty acids can be consumed in two forms, through consumption of marine foods and plants rich with omega-3s and dietary supplements such as fish oil pills, canola oil pills, and many others.

Drivers:

• Increase in cardiovascular diseases: The number of people who contract heart diseases is growing and preventive measures for avoiding and reducing the risk of contracting heart diseases increase as well, among which Omega-3 fatty acid is one of the main solutions. As per the World Heart Federation, more than half a billion people are affected by cardiovascular diseases, which accounted for a total of 20.5 million deaths in 2021, and estimated an overall increase of 121 million CVD deaths worldwide. The American Heart Association’s (AHA) dietary guidelines provide a recommended consumption of omega-3-rich food, at least two servings of fish per week or other food sources, which will help in lowering the risk of contracting heart diseases such as cardiovascular disease.  This will propel the growth of the global algae omega-3 ingredients market due to the health benefits that come with omega-3 ingredients such as DHA and EPA.
• Gaining traction on the benefits of Omega-3s: Omega-3 fatty acids have been proven to be effective against several conditions, which include heart disease, stroke, triglycerides, depression, attention-deficit hyperactivity disorder (ADHD), Alzheimer’s disease, Dry eye disease, rheumatoid arthritis, and infant development. As per the National Center for Complementary and Integrative Health (NCCIH), It has been found that the consumption of seafood one to four times per week reduces the risk of death from cardiovascular disease and high doses of omega-3 help in reducing levels of triglycerides. As consumer awareness of the health benefits of omega-3s increases, the market is expected to grow in the forecasted period.

Key Players:

• Koninklijke DSM NV: A Dutch multinational company that is active in the fields of health, materials and nutrition.
• BASF SE: A European multinational company that is known for being the largest chemical producer in the world.
• Archer Daniels Midland Company: An American multinational company that is famous for food processing and commodities trading.

Regional Analysis:

Asia Pacific is expected to grow at a stable rate in the algae omega-3 ingredients market for the projected period of 2024-2029. One of the main factors that affect the growth of the market is the increasing number of heart and circulatory diseases worldwide.  As per the global heart & circulatory diseases factsheet of 2023 by the British Heart Foundation (BHF), the total number of deaths from heart & circulatory diseases worldwide accounts for 620 million people, which is estimated to be 50000 people each day. The main disease from which people have died is cardiovascular disease (CVD) which totals 20.5 million people, of which approximately 200 million have contracted the disease and are still alive. Asia Pacific has the highest number of deaths from heart & circulatory diseases, which amount to 340 million people, which include 12 million deaths from CVD alone. Due to the high number of deaths, there will be countermeasures taken to reduce the number of heart & circulatory deaths in Asia Pacific and the omega-3 ingredients will have a boost in market value due to their relevance to reducing the risk of heart conditions.

Market developments:

• October 2023: DSM-Firmenich announced their upcoming product which is the first and only single-source algal omega-3 with twice the concentration of DHA and EPA that are naturally found in fish oil, dubbed life’s OMEGA O3020. The product is expected to be launched in North America by early January 2024.

Segmentation:

• By Type:
  • Eicosapentanoic Acid (EPA)
  • Docosahexaenoic Acid (DHA)
  • EPA/DHA
• By Application:
  • Food and Beverages
  • Dietary Supplements
  • Pharmaceuticals
  • Animal Nutrition
• By Geography:
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Indonesia
    • Thailand
    • Others