IndustryARC, in one of its latest reports, predicted that The Microalgae DHA Market size is estimated to reach $4.9 billion by 2027. Furthermore, it is poised to grow at a CAGR of 6.5% over the forecast period of 2022-2027. Microalgae DHA is a long-chain omega-3 polyunsaturated fatty acid supplementation that provides therapeutic and medical benefits to consumers. Similar to the omega-3 found in fish oil, the omega 3 sources from the microalgae contain similar nutritional value and oxidative stability. The Microalgae DHA Market report by IndustryARC covers complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
Competitive Landscape:
The top 5 players in the Microalgae DHA Industry are:
1. Deva Nutrition LLC
2. Cellana Inc.
3. Xiamen Huison Biotech Co.,Ltd.
4. Kangcare Bioindustry Co., Ltd.
5. Shandong Yuexiang Biotechnology Co., Ltd.
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Segmental Analysis:
1. The microalgae DHA market based on end-users is further segmented into Consumers, Food Manufacturers, Nutraceutical Manufacturers, Cosmetics Manufacturers, Pharmaceutical Manufacturers, and Animal Feed Manufacturers. The food manufacturers held the largest market share in the year 2021. It is owing to the use of microalgae in making various infant formulas and other beverages.
2. The Microalgae DHA market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America’s microalgae DHA market held a 36% market share as compared to the other regions in 2021. It owes to the fast-changing preference of people to gain daily nutritional value via vegan sources, then meat sources. For example, 0.5% of the population was termed vegan; now, around 6% have been surveyed as a vegan in the USA. The following trend has been reflected in the change in dietary intake via healthy and vegan sources
3. The microalgae DHA market based on distribution channels can be further segmented into Hypermarkets, Supermarkets, Grocery Stores, Online Retail Stores, and Others. The hyper and supermarkets held the largest share in the year 2021. It is owing to the availability of various microalgae products on the shelves of such models, making it easier to make a choice. Additionally, the following distribution channel offers customers lucrative discounts based on the billing of “healthy” food items and supplements.
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Report Coverage |
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Report Attributes |
Details |
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By Type |
DHA Powder, DHA Oil. |
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By Distribution Channel |
Hypermarkets and Supermarkets, Grocery Stores, Online Retail Stores. |
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By End Users |
Consumers, Food Manufacturers, Nutraceutical Manufacturers, Cosmetics Manufacturers, Pharmaceutical Manufacturers, and Animal Feed Manufacturers. |
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By Geography |
North America, Europe, Asia-Pacific, South America and Rest of World |
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Market Drivers and Challenges:
1. The use of microalgae as a supplement to help in treating cardiovascular diseases is promoting the market growth: Cardiovascular diseases have become prevalent in the economies around, moreover, a trend of high cardiovascular diseases has been noticed in countries with high HDI. For example, the USA CDC believes and estimates that 10 million deaths, annually are related to ailments such as hypertension and diabetes.
2. Micro-algae exhibit the chemical properties- while fishes consume them- hence obtaining EPA and DHA from source offers more sustainable DHA and EPA driving product demand: Fishes do not produce the DHA and EPA directly; instead, they obtain it by eating the small fish and consuming various forms of algae. According to the U.S. Department of Health and Human Services, EPA and DHA typically comprise about 3% – 5% of erythrocyte fatty acids in Western populations with low fish intakes.
3. Fish oil provides equal competition for microalgal oil and poses a challenge for the market: Fish oil has always had a market presence owing to its many benefits, such as supporting heart health by reducing LDL, controlling blood pressure levels, and, more importantly, treating certain mental disorders
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