Market Size of Asia-Pacific Algae Omega-3 Ingredient Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | 9.70 % |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
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APAC Algae Omega-3 Ingredient Market Analysis
The Asia-Pacific algae omega-3 ingredients market is expected to register a CAGR of 9.7% during the forecast period (2020-2025).
- Algae omega-3 oils are essential fatty acids that have a broad range of health benefits, including cardiovascular, eye, and brain health. Hence, it is being widely used in dietary supplements.
- The increasing prevalence of obesity in the developed countries increased the diet consciousness among the younger generation, which is supporting the growth of the market studied.
- Algal oil is gaining popularity among vegans and vegetarians, and other people who want a source of long-chain omega-3 fatty acids (EPA and DHA). It does not pose the risk of contamination with pollutants, such as polychlorinated biphenyls.
APAC Algae Omega-3 Ingredient Industry Segmentation
The Asia-Pacific algae omega-3 ingredients market is segmented by type into EPA, DHA, and EPA/DHA. The market is segmented by application into food and beverages, dietary supplements, pharmaceuticals, animal nutrition, and other applications. The market is segmented by concentration into high concentrated, medium concentrated, and low concentrated. The report also provides the geographical analysis of the market.
Type | |
EPA | |
DHA | |
EPA/DHA |
Application | ||||
| ||||
Dietary Supplements | ||||
Pharmaceuticals | ||||
Animal Nutrition | ||||
Other Applications |
Concentration | |
High Concentrated | |
Medium Concentrated | |
Low Concentrated |
Geography | |
China | |
India | |
Japan | |
Australia | |
Rest of Asia-Pacific |
Asia-Pacific Algae Omega-3 Ingredient Market Size Summary
The Asia-Pacific algae omega-3 ingredients market is experiencing significant growth, driven by the increasing awareness of health benefits associated with omega-3 fatty acids, particularly EPA and DHA. These essential fatty acids are crucial for cardiovascular, eye, and brain health, making them a popular choice in dietary supplements. The market is further bolstered by the rising prevalence of obesity and diet consciousness among younger generations in developed countries. Algal oil is gaining traction among vegans and vegetarians as a contamination-free source of long-chain omega-3s, offering a sustainable alternative to fish oil. This shift is supported by the growing demand for heart health ingredients, especially in China, where cardiovascular health issues are prevalent.
China leads the Asia-Pacific region in the consumption of algae omega-3 ingredients, fueled by a burgeoning middle class, increased disposable income, and heightened health awareness. The country's market is characterized by a robust presence of companies manufacturing algae omega-3 ingredients and fortified products. The infant food industry, sports nutrition, and personalized nutrition sectors are contributing to the promising future of omega-3 ingredients in China. The algae oil segment is anticipated to outpace the fish oil segment due to the expanding vegetarian and vegan populations and campaigns promoting animal cruelty-free products. The market is fragmented, with key players like DSM, Corbion, BASF, Polaris SA, and Neptune Wellness Solutions Inc. engaging in partnerships and joint ventures to enhance production capabilities and expand their consumer base across the region.
Asia-Pacific Algae Omega-3 Ingredient Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 EPA
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2.1.2 DHA
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2.1.3 EPA/DHA
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2.2 Application
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2.2.1 Food and Beverage
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2.2.1.1 Infant Formula
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2.2.1.2 Fortified Food and Beverage
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2.2.2 Dietary Supplements
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2.2.3 Pharmaceuticals
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2.2.4 Animal Nutrition
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2.2.5 Other Applications
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2.3 Concentration
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2.3.1 High Concentrated
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2.3.2 Medium Concentrated
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2.3.3 Low Concentrated
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2.4 Geography
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2.4.1 China
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2.4.2 India
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2.4.3 Japan
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2.4.4 Australia
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2.4.5 Rest of Asia-Pacific
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Asia-Pacific Algae Omega-3 Ingredient Market Size FAQs
What is the current Asia-Pacific Algae Omega-3 Ingredient Market size?
The Asia-Pacific Algae Omega-3 Ingredient Market is projected to register a CAGR of 9.70% during the forecast period (2024-2029)
What years does this Asia-Pacific Algae Omega-3 Ingredient Market cover?
The report covers the Asia-Pacific Algae Omega-3 Ingredient Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Algae Omega-3 Ingredient Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.