Global Vegan DHA Market - 2023-2030

Global Vegan DHA Market - 2023-2030

Global Vegan DHA Market reached US$ 895.3 million in 2022 and is expected to reach US$ 1,515.4 million by 2030 growing with a CAGR of 6.8% during the forecast period 2023-2030.

Vegan DHA refers to docosahexaenoic acid, an omega-3 fatty acid that is derived from plant-based sources and does not involve the use of animal products. One of the primary sources of vegan DHA is algal DHA, that is obtained from microalgae oil. Algal DHA is wealthy in omega-three fatty acids, which include docosahexaenoic acid.

Omega-3 fatty acids, consisting of DHA, are vital vitamins that play a vital position in numerous aspects of human fitness, especially mind fitness, eye health, and cognitive characteristic. While historically, DHA has been obtained from fish oil, vegan DHA offers a sustainable and plant-based alternative for individuals following vegetarian or vegan lifestyles.

Consumers are increasingly concerned about their health and well-being, and omega-three fatty acids, including DHA, are identified as her potential blessings. DHA is essential for brain health, eye fitness, and standard cognitive function. As people emerge as greater conscious of the importance of DHA, they are in search of vegan-friendly sources to supplement their diets.

Market Dynamics

Increasing Health Consciousness and Awareness Among the Consumers is Driving the Vegan DHA Market

Omega-three fatty acids, including DHA, are widely identified for his or her potential health blessings. They are regarded to aid mind fitness, eye fitness, cardiovascular fitness, and cognitive function. Increased consciousness of the significance of omega-3 fatty acids in preserving overall health has led consumers are seeking out dietary resources or supplements that provide adequate levels of DHA.

Ongoing clinical research has contributed to the understanding of the health benefits associated with omega-3 fatty acids. For instance, a study published in Frontiers in Nutrition in 2022 investigated the role of omega-3 fatty acid supplementation and coronary heart disease (CHD). The study found that omega-3 FA supplementation decreased the incidence of MACE and cardiovascular death in acute patients with Myocardial Infarction(MI), the risk of MI and stroke in patients with CHD, and the risk of MI in patients with high-risk CHD. 0.8–1.2 g omega-3 FA supplementation reduced the risk of MACE, cardiovascular death, and MI1Such research publications have played a role in increasing awareness about the significance of omega-3s and, consequently, the demand for vegan DHA.

Substantial Environmental Sustainability Concerns are Expected to Foster the Vegan DHA Market

Overfishing is a widespread challenge globally, leading to declining fish populations and the degradation of marine ecosystems. According to the Food and Agriculture Organization of the United Nations (FAO), approximately 33% of global fish stocks are being harvested at unsustainable levels. These concerns have induced people and organizations to are searching for sustainable alternatives to fish-derived products, such as omega-3 fatty acids.

Algae-based DHA offers a sustainable technique for the environmental troubles associated with traditional fish oil production. Algae cultivation for DHA extraction does not contribute to overfishing or the depletion of marine assets. Algae are renewable and may be grown in controlled environments, lowering the pressure on natural ecosystems.

Stringent Regulatory Hurdles are Holding Back the Vegan DHA Market

Stringent regulations often require manufacturers to meet specific standards and undergo rigorous testing and certification processes. These compliance costs can be substantial for companies producing vegan DHA supplements, particularly for smaller businesses. The financial burden of meeting regulatory requirements can hinder market entry and limit the growth of the vegan DHA market.

Regulatory bodies often impose strict guidelines for labeling and health claims on dietary supplements. Companies need to ensure accurate and compliant labeling, including appropriate statements about the benefits and intended use of vegan DHA supplements. The complexity and ambiguity of these regulations can create challenges and delays in product development and marketing.

COVID-19 Impact Analysis

The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario, and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis

The global vegan DHA market is segmented based on source, application, distribution channel, and region.

By Application, the Food Industry is Estimated to have Significant Growth During the Forecast Period

The meals enterprise has embraced the fortification of food products with essential vitamins, along with omega-3 fatty acids like DHA. Vegan DHA can be integrated into an extensive variety of food products together with plant-based milk, bread, cereal bars, and spreads. These fortified food products cater to consumers seeking convenient and accessible sources of vegan DHA.

The plant-based meat industry has witnessed big growth in recent years, with manufacturers developing modern options for traditional meat products. Many plant-based meat substitutes, such as vegan burgers, sausages, and nuggets, now include vegan DHA to decorate their nutritional profile. The incorporation of vegan DHA in plant-based meat options demonstrates the influence of the meals industry inside the vegan DHA market.

Geographical Analysis

Asia Pacific is the Fastest Growing Market in the Vegan DHA Market

The Asia Pacific region has a huge and growing population, imparting a massive consumer base. As economies increase and living requirements improve, there is an increasing recognition of health and wellness. This has led to a rising interest in plant-based diets and nutritional supplements, which include vegan DHA.

Health consciousness is on the rise in the Asia Pacific region. There may be a growing cognizance of the significance of vitamins and preventive healthcare, leading to a demand for functional foods and supplements. In 2020, research by NewNutrition Business found that 13% of consumers across the region stated that they were vegan. Vegan DHA, as a nutrient associated with various health benefits, aligns with this growing health consciousness.

Competitive Landscape

The major global players in the market include Cargill Inc., Arista Industries Inc., Hero Nutritionals Inc., Denomega Nutritional Oils, Croda International Plc., Algaecytes Limited, BASF SE, Epax Norway AS, ALGISYS, LLC., and Koninklijke DSM N.V.

Why Purchase the Report?
• To visualize the global vegan DHA market segmentation based on source, application, distribution channel, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities in the market by analyzing trends and co-development.
• Excel data sheet with numerous data points of vegan DHA market-level with all segments.
• The PDF report consists of cogently put-together market analysis after exhaustive qualitative interviews and in-depth market study.
• Product mapping is available as Excel consists of key products of all the major market players.

The global vegan DHA market report would provide approximately 61 tables, 68 figures and 190 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies