North America Algae Omega-3 Ingredient Market Enhancement, Latest Trends, Growth and Opportunity during 2021 to 2025

MarketInsightsReports has recently published a North America Algae Omega-3 Ingredient market research study with more than 100 industry informative desk and figures spread through pages and easy to understand detailed TOC on “North America Algae Omega-3 Ingredient Market”.
The report provides information and the advancing business series information in the sector to the exchange. The report provides a notion connected to the progress of this market movement of significant players in this industry. An examination of this North America Algae Omega-3 Ingredient market relies upon aims, which are of coordinated into market analysis, are incorporated into the reports.

The report also takes into account the impact of the novel COVID-19 pandemic on the North America Algae Omega-3 Ingredient market and offers a clear assessment of the projected market fluctuations during the forecast period.

North America algae omega-3 ingredient is forecasted to reach USD 257 million by 2024, witnessing a CAGR of 6.2% during the forecast period (2019 - 2024).

- Algae Omega-3 ingredients are gaining prominence and becoming a part of the consumer’s daily diet. The key reasons for this change have been the increased prevalence of lifestyle diseases and people taking preventive healthcare measures.
- Consumers are increasingly relying on alternative channels to self-diagnose and identify targeted health needs, partly driven by the fact that insurers are increasing co-pays and incentivizing their customers to take preventative care measures. An estimated 70% of Americans use the internet to get health information and to help make decisions throughout their health journeys (pre-diagnosis, diagnosis, and treatment). This, in turn, has facilitated the rise in the demand for algae omega-3 ingredients.

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Scope of the Report
The North America algae omega-3 ingredients market offers ingredient types such as Eicosapentaenoic Acid (EPA), Docosahexaenoic Acid (DHA), and EPA/DHA applicable to food and beverage, dietary supplements, pharmaceuticals, animal nutrition, and clinical nutrition. The market further provides the ingredient types based on the concentration level of low, medium and high and market scenario at the regional level.

Key Market Trends
Growing Demand For Dietary Supplements
The algae omega-3 demand is growing in the health supplement segment, as it provides the same benefit as that of fish oil, but with no off-odor or taste. Algae Omega-3 is considered to be more bioavailable and sustainable. The algae omega-3 ingredient market is driven by the demand for dietary supplement products. The use of premium-grade omega-3 for infant formula is another factor driving the market, as algae omega-3 has proved to be of superior quality.

By application, the dietary supplement holds the major share followed by pharmaceutical, food & beverages, Animal Nutrition, and Clinical Nutrition. North American consumers are becoming less tolerant of unsustainable practices. The algae technologies allow for the production of a variety of environmentally sustainable biological products like algae omega-3 ingredients. The algal-based supplements of omega-3 oil, are the most sustainable innovative products, available in North America. Consumers are concerned about the need for omega-3 products in their diet.

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United States Is The Largest Market For Algae Omega-3
The United States is the largest market for omega-3 in North America, followed by Canada and Mexico. In the United States, docosahexaenoic acid (DHA) is a major ingredient that is being used in infant nutrition. Almost all the brands offering infant nutrition formula in the country uses DHA as an ingredient that adds to the cost of formula, which is augmenting the growth of algae omega-3 ingredients market in the country. Increasing awareness about the long-term benefits of omega-3 consumption, fortified product availability, and growing market acceptance for such products is driving the market. The US food processors are launching many products with enhanced algae omega-3 functional food, owing to the rise in per capita spending and inclination of consumers toward health and wellness products.

Competitive Landscape
Pharmaceutical products based on algae omega-3 EPA will be the future spotlight in the market. EPA, individually, has high-potential in the market, especially, in pharmaceuticals and nutraceuticals market. There is a huge opportunity for the premium omega-3 ingredient in infant nutrition application in the region; sensory attributes is a major factor for the purchase of the products. Major companies include DSM Nutritional Products, Bioprocess Algae, Llc, Neptune Wellness Solutiions Inc., Archer Daniels Midland, Source-Omega LLC, Novotech Nutraceuticals Inc., and BASF SE.

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Key Points of the North America Algae Omega-3 Ingredient market report
- Comprehensive evaluation of all opportunities and risks in the market.
- North America Algae Omega-3 Ingredient market ongoing developments and significant occasions.
- Detailed study of business techniques for development of the market-driving players.
- Conclusive study about the improvement plot of market for approaching years.
- Top to bottom appreciation of market-express drivers, targets and major littler scale markets.
- Favorable impression inside imperative mechanical and publicize latest examples striking the market.

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