Market Size in 2021 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 384.1 million | USD 569.9 million | 6.8% | 2020 |
FrequentlyAsked Questions
Growing demand for DHA in infant formula and rising consumer awareness of health issues are driving the growth of the global DHA from the algae market. The global DHA from the algae market is being driven by the advantages of microalgae oil over fish oil, such as longer shelf life, high oxidative stability, and a pleasing odor and flavor.
According to the report, the global DHA from algae market was worth about 389.1 (USD million) in 2021 and is predicted to grow to around 569.9 (USD million) by 2028, with a compound annual growth rate (CAGR) of around 6.80%.
The North American region is anticipated to account for a significant portion of the market due to the high adoption from nations like the U.S. and Canada. The global market for DHA from algae components is expanding primarily due to rising instances of cardiovascular illnesses and obesity in various nations.
Some of the main competitors dominating the Global DHA from algae market include - Goerlich Pharma, Nordic Naturals, Inc., Source Omega Llc, Kangcare Bioindustry Co., Ltd., Inovobiologic Inc., Xiamen Huison Biotech Co., Ltd., Deva Nutrition Llc, Wuhan Bioco Sci. & Tech. Dev. Co., Ltd., Hubei Ruiren Biotechnology Co., Ltd, and Polaris.
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