DHA Algae Oil for Infant Formula Market: Top Trends Driving the Industry to Surpass USD 506.33 Million by 2028
The report presents the vendors/manufacturers' landscape and a detailed analysis of the top players operating in the DHA Algae Oil for Infant Formula Market.
NEWARK, UNITED STATES, November 30, 2022 /EINPresswire.com/ -- As per the report published by Fior Markets, the global DHA Algae Oil for Infant Formula market is expected to grow from USD 265.58 million in 2020 and to reach USD 506.33 million by 2028, growing at a CAGR of 8.4% during the forecast period 2021-2028.
Algal oil is a form of oil made from algae found in the sea. Algal oil contains omega-3 fatty acids, just like fish oil. Two of the essential omega-3 fatty acids found in algal oil are docosahexaenoic acid (DHA) and eicosapentaenoic acid (EPA) (EPA). Algal oil is a form of oil that can be used in food as well as medication. It's also used to improve children's and older people's mental skills, lower cholesterol, improve vision in those with a specific eye disease, and treat a range of other ailments. However, still, there's no solid scientific proof to back up these claims. Fish and fish oil can be replaced with algae oil. It's a type of microalgae-derived oil. Fish consume these microalgae and convert them into fatty acids, which are then stored in their tissues. DHA algal oil is beneficial to forming a healthy immune system because it reduces disease severity, increases antibody function, and reduces inflammation, making it an excellent choice for newborn formula.
The end-products intended age group also splits the market for DHA algal oil in the newborn formula. Adequate DHA algal oil consumption is crucial throughout the first two years of life when infants' brains grow at their fastest. The product is required for proper neural signaling, neuronal cell proliferation and differentiation, and brain function. The incorporation of membrane DHA in early life is primarily dependent on food supply via nursing, maternal transfer, and the creation of long-chain polyunsaturated fatty acids. Up to two years of age, DHA accumulates in the brain during the intrauterine and neonatal phases, and high levels of DHA are maintained throughout life.
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Growing global demand for DHA Algae Oil for Infant Formula increased awareness of infant health issues, benefits of DHA algae oil for infant formula, demand for vegan-based products over animal-based products with better oxidation stability, and significant investment in R&D are the factors driving the market. Symptoms of the stomach or intestine, slightly elevated cholesterol levels, and tight rules and regulations for product approval are all issues limiting market expansion. Increasing knowledge of baby health and nutritional needs, working memory in youngsters due to fatty acid shortage, and technological innovation will increase algal oil yields and scientific understanding of the health advantages of DHA Algae Oil.
Key players operating in the global DHA Algae Oil for Infant Formula market include Daiichi Sankyo Company Limited, Nordic Naturals, Genelux Corporation, Kingdomway Nutrition Inc., Immune Pharmaceuticals Inc., Hubei Fuxing Biotechnology Co. Ltd., Millennium Pharmaceuticals Inc, Novartis AG, Pfizer Inc., Plexxikon Inc., Guangdong Runke Bio-Engineering Co., Trophogen Inc., Xiamen Huison Biotech Co. Ltd., Ltd., Far East Microalgae Industries Co. Ltd., Lonza Group and Lyxia Corporation. To gain a significant market share in the global DHA Algae Oil for Infant Formula market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships. Idexx Laboratories Inc. and Nestle S.A are some of the key manufacturers operating in the DHA Algae Oil for Infant Formula market.
The Crolibulin segment dominated the market and held the largest market share of 32% in the year 2020
Based on type, the global DHA Algae Oil for Infant Formula market is segmented into Crolibulin, CLM-94, GLONC-2, Efatutazone, and Others. The Crolibulin segment dominated the market and held the largest market share of 32% in 2020. This growth is attributed to the rising affluence in the anaplastic thyroid cancer drug market in terms of revenue.
40%-50% segment dominated the market and held the largest market share of 66% in the year 2020
Based on Content, the global DHA Algae Oil for Infant Formula market is segmented into 30%-40% and 40%-50%. 40%-50% segment dominated the market and held the largest market share of 66% in 2020. This growth is owing to its various benefits, including easy absorbance, safety, high purity, and cleanliness. Further, the product contains over 95% of the retina's polyunsaturated fatty acids and over 50% of the plasma membranes of neurons, making it essential for heart, eyesight, and brain function.
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0-3 years old segment dominated the market and held the largest market share of 59% in the year 2020
Based on the Application, the global DHA Algae Oil for Infant market is segmented into 0-3 years old and 3-6 years old. 0-3 years old segment dominated the market and held the largest market share of 59% in 2020. This growth is attributed to the significant rise in birth rates, recommendations for adequate omega-3 fatty acids intake by health organizations, and Omega-3 supplementation is widely recommended for nursing infants.
Regional Segment of DHA Algae Oil for Infant Formula Market
North America (U.S., Canada, Mexico)
Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
Asia-Pacific (China, Japan, India, Rest of APAC)
South America (Brazil and Rest of South America)
Middle East and Africa (UAE, South Africa, Rest of MEA)
Based on geography, the global DHA Algae Oil for Infant Formula market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America region holds the largest market share of 41% in the year 2020. This growth is ascertained by the U.S. in the North America region owing to the high demand for healthcare products, growing awareness among young parents regarding the nutritional requirements of infants, and a significant rise in the female workforce. The Asia-Pacific region is witnessing substantial growth in China and India, owing to the growing urbanization, growing awareness regarding the health benefits of DHA algae oil for infant formula, and the disposable income of consumers.
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About the report:
The global DHA Algae Oil for Infant Formula market is analyzed based on value (USD billion). All the segments have been analyzed on a global, regional, and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining key market insights. The study includes porter's five forces model, attractiveness analysis, raw material analysis, and competitors' position grid analysis.
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