SEATTLE, Dec. 10, 2018 (GLOBE NEWSWIRE) -- The global algal DHA and ARA market was valued at US$ 416.1 million in 2017, and is projected to exhibit a CAGR of 14.3% during the forecast period (2019–2026).
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Key Trends and Analysis of the Algal DHA and ARA Market:
Algal DHA and ARA market is expected to gain significant traction, owing to rising demand for algal DHA and ARA from infant nutrition and food & beverages industries due to its health benefits such as improved brain health and gastrointestinal health among others. According to Federation of Indian Chambers of Commerce & Industry (FICCI), in India the food & beverages market was valued at 2.04 billion in 2014, and increased to 3.80 billion in 2017. Development of new and innovative DHA- and ARA-based products is expected to aid in growth of the market. For instance, in 2017, Metabolium introduced Olise, a combination of algal DHA and organic selenium. It is an omega-3 polyunsaturated fatty acid (PUFA). The major focusing area for Olise is infant formula, dietary supplements, pharmaceutical, pet food, and aquaculture.
Availability of alternative DHA sources such as fungi, fish oil, egg yolks, and beef for adults is restraining growth of the algal DHA and ARA market.
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Key Market Takeaways:
- Animal feed additives are the fastest growing application segment in the global algal DHA and ARA market. Omega fatty acids such as ARA and DHA are majorly used as health ingredients by agri-food manufacturers and producers of animal feed including domestic pets and aquaculture. Also, increasing awareness regarding animal nutritional products and shifting consumer inclination towards feeding nutritional food to pets is driving growth of the animal feed additives segment. Pet owners are preferring enzymes, omega fatty acids, and vitamins to improve immune system of pets instead of metabolic modifier and antibiotics. Furthermore, government initiatives for creating awareness regarding animal nutrition are fuelling growth of animal feed segment. For instance, FDA’s Center for Veterinary Medicine (CVM) regulates and promotes use of animal drug and animal feed in the U.S.
- Europe held significant market share in the global algal DHA and ARA market during the forecast period. Strategic investment by leading manufacturers in Europe is projected to be the major factor boosting demand for algal DHA and ARA in animal feed industry. For instance, in September 2017, Koninklijke DSM N.V. acquired Twilmij B.V., a nutritional solutions company in the animal feed sector. With this acquisition, Koninklijke DSM N.V. is expected to strengthen its foothold in Nort-west Europe animal nutrition and health market. The European Food Safety Authority (EFSA) controls all the regulations for food supply chain in the Europe. The authority sets strict regulations on use of food ingredients such as omega 3 fatty acids (DHA and ARA) in processed food & beverages, dietary supplements, and animal feed products to ensure consumer safety. According to the Ministry of Agriculture of France, in 2015, there were 16,218 food processing companies generating a turnover of US$ 189 billion in France.
- Some of the major players operating in the global algal DHA and ARA market include Koninklijke DSM N.V., Cabio Bioengineering (Wuhan) Co., Ltd., Corbion N.V., Lonza Group, Algisys, LLC, and Cargill, Incorporated among others.
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