Asia-Pacific Algae Omega-3 Ingredient Market (2017-2022): Driven by High Consumption of Infant Formula Products in China
DUBLIN, July 31, 2017 /PRNewswire/ --
The "Asia-Pacific Algae Omega-3 Ingredient Market - Growth, Trends and Forecasts (2017 - 2022)" report has been added to Research and Markets' offering.
The Asia-Pacific algae omega-3 ingredient market is expected to register a CAGR of 13.2%, during the forecast period of 2017-2022.
Asia-Pacific is the fastest growing region for algae omega-3 ingredient market, globally. At present, the market is dominated by fish oil omega-3; however, algal source is also growing at a fast rate. The major players in the market are DSM, Bioprocess Algae, Algaecides, Algisys, Terravia (Solazyme), among others.
The high consumption of infant formula products in China is the major factor driving the market. Due to the established legal strains for DHA fortification in infant formula products, the demand for the algal omega-3 ingredient is growing in the region. There is an increased trend for consumption of fortified food and beverage products in Asia-Pacific, which is driving the market growth. Algal omega-3 provides a sustainable solution to industries and is suitable for the vegetarian label, which is further accelerating the market growth. 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 in 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 in 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.
Major Players:
- DSM Nutritional Products
- Algaecytes
- Bioprocess Algae
- Terravia
- Qualitas Health
Key Topics Covered:
1. Introduction
2. Research Approach and Methodology
3. Market Overview
4. Market Segmentation
5. Competitive Landscape
6. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/nnmswv/asiapacific
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