The global microalgae DHA market is anticipated to grow at a significant CAGR during the forecast period (2022-2028). Microalgae is the alternative to the natural source of bioavailable omega-3 DHA and other essential nutrients such as vitamin C, iron, vitamin B3, vitamin B6, and others. The rise in the demand for healthy and organic food is anticipated to drive the growth of the market. For instance, according to Simmons National Consumer Survey (NHCS) and US Census data, an estimated 94.38 million people consumed organic food in 2020. Also, according to the 2020 Organic Industry Survey, released by Organic Trade Association, the US organic food has recorded a sale of $50.4 billion, which is 4.6% greater than 2019. Thus, the rise in the consumption of organic and healthy food is anticipated to accelerate the growth of the global microalgae DHA market during the forecast period.
Looking towards the demand for microalgae DHA, key market players are adopting various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in June 2021, Polaris Inc. had launched Omegavie DHA 800 Sensory Qualitysilver 5 algae. The omega via microalgae is extracted using a natural enzymatic process using water with no solvents. Moreover, the purification process targets only fatty acids of interest DHA and is in triglyceride form which is the natural form of omega-3, making it bio available.
In October 2021, Anpario Plc had announced the launch of Optomega Algae derived from microalgae and omega-3 fatty acids supplements. The optomega algae is a dry free-flowing powder composed of algae oil from specific species of microalgae and is formulated on a unique carrier system. The product is specifically targeted at breeding animals and producers supplying omega-3 enriched meat, milk, and eggs.
Further, in April 2020, Corbion Inc. had launched AlgaPrime TM DHA A traceable. The algaPrime is a long chain of algae ingredients for the aquaculture, pet, and livestock industries. Moreover, Corbion has carried out a life cycle analysis (LCA) for Algaprime DHA. The results of the LCA stated that the Algaprime DHA plays an important role for farmers, feed, and pet food producers to meet key UN sustainable Development Goals. Thus, such product launches are anticipated to drive the growth of the global microalgae DHA market during the forecast period (2022-2028)
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape– Nordic Naturals Inc, Deva Nutrition LLC, Kangcare Bioindustry Co, Ltd., and Cellana Inc among others
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Global Microalgae DHA Market Report by Segment
By Type
- Microalgae DHA Oil
- Microalgae DHA Powder
- Others
By Application
- Pharmaceuticals
- Food
- Animal Feed
- Dietary Supplements
- Cosmetics
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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