Asia-Pacific Algae Omega-3 Ingredient Market - Growth, Trends and Forecasts (2017 - 2022)
Asia-Pacific is the fastest growing region for algae omega-3 ingredient market, globally. At present, the market is dominated by fish oil omega-3; however, algal source is also growing at a fast rate. The major players in the market are DSM, Bioprocess Algae, Algaecides, Algisys, Terravia (Solazyme), among others.
The Asia-Pacific algae omega-3 ingredient market is expected to register a CAGR of 13.2%, during the forecast period of 2017–2022. The market, estimated at USD XX billion, as of 2017, is projected to reach USD XX billion by 2022.
The high consumption of infant formula products in China is the major factor driving the market. Due to the established legal strains for DHA fortification in infant formula products, the demand for the algal omega-3 ingredient is growing in the region. There is an increased trend for consumption of fortified food and beverage products in Asia-Pacific, which is driving the market growth. Algal omega-3 provides a sustainable solution to industries and is suitable for the vegetarian label, which is further accelerating the market growth. The high-cost of production and costly downstream processing are the major factors affecting the market growth.
The market has been segmented by type, concentration type, application type and purity/quality type. There are commercially two types of essential omega-3 fatty acids derived from algae, namely, Eicosapentaenoic Acid (EPA) and Docosahexaenoic Acid (DHA). DHA holds the largest share in the market due to the high demand in infant formula products and its legal recommendations. EPA is the fastest-growing market, supported by various health benefits, which has increased its importance in drug formulation. By concentration type, the market is divided into high-concentrated, concentrated and low-concentrated products. Based on the product purity and quality type, algae omega-3 is segmented into premium grade and others. By application, the market is segmented into infant formula, dietary supplements, pharmaceuticals and animal nutrition. Dietary supplement holds the largest share in the market, followed by infant formula application. The use of algae omega-3 ingredient is quite less in pharmaceutical application but its value is high. The high awareness of the health benefits of EPA has triggered its application in pharmaceutical products.
Japan and China are the major countries dominating the market owing to the increased consumption of infant formula products. India is the fastest-growing market, followed by China. Algal omega-3 oil, being a vegetarian source of omega-3, provides a great opportunity for the Indian market, where vegetarian population dominates.
DSM Nutritional Products
Bioprocess Algae, LLC
Algae omega-3 supplements will be the target products, as the market is growing for health and wellness products. In addition, a reduction in the price of algae omega-3 products will attract market opportunities, in the future.
Key Deliverables in the Study
Market analysis for the Asia-Pacific algae omega-3 ingredient market, with region-specific assessments and competition analysis on Asia-Pacific and regional scale.
Market definition along with the identification of key drivers and restraints.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on Asia-Pacific and regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their market share.
Identification and analysis of the macro and micro factors that affect the Asia-Pacific algae omega-3 ingredient market on, both, Asia-Pacific and regional scale.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
Insights on the major countries/regions where this industry is growing and identify the regions that are still untapped.
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