The global DHA algae oil for infant formula market is
anticipated to record significant revenue growth supported by rapid expansion
of local retail stores and online marketplaces. Consumers are becoming more aware
about the importance of offering a nutrition rich diet to infants. As a result,
the demand for premium nutritional products has witnessed a steady rise over recent
years.
DHA algae oil in infant formula can offer numerous health
benefits like visual, immune and neural development. Growing popularity of
vegan products over animal-based items could play a crucial role in advancing
product demand. This trend has inspired various industry players to tap into
the vegan market with new product offerings.
Citing an instance, in April 2020, Novosana teamed up with
Dutch company, Lus Health Ingredient to develop and commercialize sustainable
omega 3 products across Europe. Both the companies intend to introduce a range
of vegan DHA products in Europe. Meanwhile, better oxidation stability of
DHA algae oil than its counterpart, DHA fish oil, might accentuate product
appeal over a broader range of audience.
According to Global Market Insights, Inc., the DHA algae oil for infant formula market could touch USD 435 million by the end of 2026. From a regional point of view, Asia Pacific is considered to be an ideal market for DHA algae oil manufacturers. Earlier in 2019, the regional market had garnered more than USD 170 million and is anticipated to maintain a growth rate of 9.5% over the predicted period. The emergence of an affluent middle-class population and the rise in the female workforce has propelled the per capita disposable income of consumers who buy baby food products. Back in 2019, women covered more than 20% of the entire Indian workforce.
Consumers across Asia pacific are steadily getting aware about
the numerous health benefits of eco-friendly farming techniques and organic
products. Rising parental concerns over their baby’s nutrition could drive the
adoption of DHA algae oils. DHA helps in mimicking the breast milk composition
as it is rich in fatty acids just like ARA and DHA. These factors could
massively benefit the APAC DHA algae oil for infant formula market in the long
run. Meanwhile, the U.S. market from 30% to 40% DHA algae oil could attain a
growth rate of more than 2.5% during the analysis period.
Established industry participants like Archer Daniels
Midland Company, Koninklijke DSM N.V., Polaris, BioPlus Life Sciences, and JC Biotech
Pvt. Ltd. are focusing on a slew of strategic initiatives such as mergers,
acquisitions, and new product launches to advance their product portfolio.
Taking May 2020 for instance, Royal DSM announced the release of new,
high-quality microbial ARASCO and DHASCO-B powders for infant nutrition.
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