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Tuna and Algae Omega-3 Ingredient Market - Growth, Trends and Forecasts (2019 - 2024)

Global tuna and algae omega-3 ingredient market is segmented by Type into algae type and tuna type; by Application into food and beverage, dietary supplements, pharmaceutical, animal nutrition, clinical nutrition & by Geography

Market Snapshot

Snapshot
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

CAGR (2019-2024):

11.04%

Key Players:

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Market Overview

The global tuna and algae omega-3 ingredient market is forecasted to reach USD 1.5 billion by 2024 growing at a CAGR of 11.04% during the forecast period (2019-2024). Rise in perceived health benefits of omega-3 fatty acids, for which fish oil is the primary extraction source, is driving the demand for tuna omega-3 ingredients. The tuna fish oil omega-3 market has witnessed emerging global raw material hotspots in China, Japan, Spain, and Italy. The aquaculture sector in this region is thriving promisingly and this boost is expected to provide further impetus to the overall growth of the fish oil omega-3 industry. Algae Omega-3 ingredients play a key role to drive the overall market growth due to the growing demand for algae omega-3 in infant food fortification, as it provides benefits similar to that of fish oil, but has no off-odour or taste.

Scope of the Report

The global tuna and algae omega-3 ingredient market offer tuna and algae sourced ingredients having a wide application in industries including food and beverage, dietary supplements, pharmaceutical, animal nutrition, and clinical nutrition. The study also provides a thorough insight into the market scenario of the global market.

By Type
Algae Type
Product type
Eicosapentanoic Acid (EPA)
Docosahexaenoic acid (DHA)
EPA/DHA
Concentration type
High Concentrated
Medium Concentrated
Low Concentrated
Tuna Type
Crude Tuna Oil
Refined Tuna Oil
By Application
Food and Beverage
Infant Formula
Fortified Food and Beverages
Dietary Supplements
Pharmaceutical
Animal Nutrition
Clinical Nutrition
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Spain
United Kingdom
Germany
France
Italy
Russia
Rest of Europe
Asia Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
South Africa
United Arab Emirates
Rest of Middle East and Africa

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Key Market Trends

Increasing Consumer Expenditure on Omega-3 Products

Growing consumer health awareness and concerns toward a healthy lifestyle, majorly in regions like Asia-Pacific, Latin America, and Africa, are leading to an increased demand for ingredients, such as EPA and DHA. Moreover, an increasing percentage of the smoking population, incidences of heart-related complications, and other health-related issues across the world are is fueling the growth of omega-3 ingredients, including tuna and algae omega-3 ingredients, globally, and especially in developing economies. Manufacturers and suppliers involved actively in the supply chain of omega-3 in various regions, and also making strategic efforts to ensure a gradual flow of information regarding the health benefits associated with omega-3 enriched diets, which has largely and positively affected the sales of omega-3 ingredients in the developing regions.

Trend 2

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Asia-Pacific Emerges as the Largest Market Consumer

Driven by the growing demand from sports nutrition and booming opportunities in personalized nutrition, the omega-3 ingredients hold a promising future market in Asia-Pacific. Moreover, the increasing ageing population in the countries such as China and Japan with a proportionate rise in general population emerges as one of the key factors leading to the demand for brain health supplements, which, in turn, has led many key players to invest on their research and development activities regarding new innovations in omega-3 supplements. The high birth rate and the recent abolition of the one-child policy in China are slated to boost the infant food industry. Many players such as Pathway International are strategically partnering with key ingredient manufacturers in order to expand the production level or product line.

 

Trend 2

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Competitive Landscape

The global tuna and algae omega-3 ingredient market is highly fragmented. BASF, Neptune Wellness Solutions Inc., and Omega Protein Corporation are the most active companies in the global tuna and algae omega-3 ingredients market. Key players, like Neptune Wellness Solutions Inc. and Cellana Inc., are focusing on partnerships and joint ventures to increase their production capabilities and consumer base, across various regions.

 

Major Players

  1. Archer Daniels Midland Company
  2. Koninklijke DSM N.V.
  3. Corbion PLC
  4. Polaris S.A.
  5. Clover Corporation Limited

* Complete list of players covered available in the table of contents below

Market Conc

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

    1. 3.1 Market Overview

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porters Five Force Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Algae Type

        1. 5.1.1.1 Product type

          1. 5.1.1.1.1 Eicosapentanoic Acid (EPA)

          2. 5.1.1.1.2 Docosahexaenoic acid (DHA)

          3. 5.1.1.1.3 EPA/DHA

        2. 5.1.1.2 Concentration type

          1. 5.1.1.2.1 High Concentrated

          2. 5.1.1.2.2 Medium Concentrated

          3. 5.1.1.2.3 Low Concentrated

      2. 5.1.2 Tuna Type

        1. 5.1.2.1 Crude Tuna Oil

        2. 5.1.2.2 Refined Tuna Oil

    2. 5.2 By Application

      1. 5.2.1 Food and Beverage

        1. 5.2.1.1 Infant Formula

        2. 5.2.1.2 Fortified Food and Beverages

      2. 5.2.2 Dietary Supplements

      3. 5.2.3 Pharmaceutical

      4. 5.2.4 Animal Nutrition

      5. 5.2.5 Clinical Nutrition

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Spain

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 Germany

        4. 5.3.2.4 France

        5. 5.3.2.5 Italy

        6. 5.3.2.6 Russia

        7. 5.3.2.7 Rest of Europe

      3. 5.3.3 Asia Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East and Africa

        1. 5.3.5.1 South Africa

        2. 5.3.5.2 United Arab Emirates

        3. 5.3.5.3 Rest of Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Archer Daniels Midland Company

      2. 6.4.2 Koninklijke DSM N.V.

      3. 6.4.3 Corbion N.V.

      4. 6.4.4 Neptune Wellness Solutions

      5. 6.4.5 Polaris

      6. 6.4.6 BASF SE

      7. 6.4.7 Source-Omega LLC

      8. 6.4.8 AlgaeCytes

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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