Europe Algae Omega-3 Ingredient Market - Growth, Trends and Forecasts (2017 - 2022)
Europe is the second-largest market for the algae omega-3 ingredient, globally. Omega-3 oil from algae source is considered to be a premium source of omega-3. The major players in the market are DSM, Bioprocess Algae, Algaecides, Algisys, Terravia (Solazyme), among others.
The Europe algae omega-3 ingredient market is expected to register a CAGR of 11.5%, 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.
There is an increased trend for the consumption of fortified food and beverage products in Europe, which is driving the market growth. In most of the European countries, the intake of EPA/DHA is not up to the level of the recommended daily intake. However, there is a growing concern for the high omega-3 intake in the region, which is driving the market growth. Algae omega-3 demand is growing at a fast rate, as a health supplement, as it provides the same benefits as that of fish oil; however, it has no off-odor or taste. 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 for 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 of 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.
Germany, France, the United Kingdom, Russia and Spain are the major markets for the algal-based EPA ingredients and fortified products. Germany is the largest market for algae omega-3 ingredient, with a market share of 31%, followed by the United Kingdom and France. Russia is the fastest-growing market in Europe, due to the growing consumer awareness regarding omega-3 intake.
DSM Nutritional Products Algaecytes Bioprocess Algae, LLC Terravia (Solazyme) Qualitas Health Recent Industry Insights
“DSM acquired Martek Bioscience, an algae omega-3 ingredient leader, to become the global leader.”
Algae omega-3 ingredient into dietary supplement with the major focus of EPA only products will be the future spotlight of the market in the region. Consumers are looking for new developments in omega-3 products and their focus on specific health benefits. EPA from algal source has high productivity. Improving the production and purification process will be the key focus for manufacturers to sell the product at competitive price, like that of fish oil, in the market.
Key Deliverables in the Study
Market analysis for the Europe algae omega-3 ingredient market, with region-specific assessments and competition analysis on Europe 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 Europe 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 Europe algae omega-3 ingredient market on, both, Europe 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.