The global demand for Algae Omega Market is presumed to reach the market size of nearly USD 2.67 MN by 2028 from USD 1.94 MN in 2021 with a CAGR of 4.7% under the study period of 2022 – 2028.
Algae Omega is an excellent source of essential fatty acid, Omega-3, which is necessary for the human body in brain development, heart health, and overall normal functioning of the body. Algae Omega is obtained from eukaryotic plants typically found in water bodies, including salty, fresh, and brackish water. Algae Omega has a wide range of applications in baby or infant nutrition, nutritional supplements, and medications. It is essential in improving immunity and brain strength in infants. Algae Omega prevents heart disease and stroke and may help control rheumatoid arthritis and eczema. Algae Omega is a promising substitute for fish food as it contains Omega-3 fatty acids in abundance.
Market Dynamics
The growing trend for a vegetarian or vegan diet is propelling the algae omega market globally. The other major factors that are assisting in the growth of the market include rising health and diet consciousness, and growing awareness about the benefits of Omega-3 fatty acids. Furthermore, the increasing prevalence of lifestyle-related disorders, rising demand for a healthy and sustainable food product, and increased usage of algae omega in baby food or infant formula are fuelling the global market. However, factors such as a lack of awareness about the benefits of algae omega and high R & D cost may hamper the growth of the market.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of algae omega. The growth and trends of Algae Omega Industry provide a holistic approach to this study.