DHA Algae Oil for Infant Formula Market projected to exceed $435 million by 2026, Says Global Market Insights Inc.

Rising prevalence of local retail stores and the significant expansion of online marketplaces have improved the accessibility of infant formula which will have a positive impact on the DHA algae oil for infant formula industry growth.

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Selbyville, Delaware, Oct. 05, 2020 (GLOBE NEWSWIRE) -- Based on Global Market Insights Inc., report, the global DHA Algae Oil for Infant Formula Market was estimated at $245 million in 2019 and is slated to surpass $435 million by 2026, registering a CAGR of 8.5% from 2020 to 2026. The report provides an in-depth analysis of the key investment avenues, drivers and opportunities, key winning strategies, wavering industry trends, competitive scenarios, and market estimations as well as size.

According to market analysis, Consumers are increasingly aware of the health & nutritional requirements of infants and are not reluctant to purchase premium nutritional products. Growing evidence of the health benefits of DHA algae oil such as neural, visual and immune development has resulted in favorable regulatory policies to boost product adoption in various food categories which should accelerate the DHA algae oil for infant formula market growth.

Upsurge in the demand for vegan based products over animal based coupled with better oxidation stability compared to DHA fish oil will boost the segment growth. Rising technology innovations due to significant R&D investments by market players will further support business expansion.

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U.S. DHA algae oil for infant formula market from 30% - 40% DHA algae oil is expected to grow over 2.5% by the end of 2026. These algae oil consist of 30% to 40% of docosahexaenoic acid also offers an adequate number of vitamins and minerals and supports physical development, as it is nutritionally balanced with essential fats, protein, and protein and carbohydrates. DHA plays an essential role growth and maturation of brain and retina. Only 25% of infants up to 6 months of age were exclusively breastfed in the U.S. in 2017, as per estimates of the Centers for Disease Control & Prevention while over 19% of breastfed infants were fed infant formula within 2 days of birth. Rising misconceptions that many women experience difficulties while breastfeeding may lead to concerns among prospective mothers about the feasibility of breastfeeding and stimulate the adoption of breast milk substitutes.

Some major findings of the DHA algae oil for infant formula market report include:

  • Growing product usage due to changing consumer preferences towards healthy infant diets will boost industry growth
  • Rising concerns regarding overfishing which may result in food insecurity across the globe in the long term will lead to replacement of fish DHA oil with algae DHA oil fostering DHA algae oil for infant formula market growth
  • DHA algae oil for infant formula market from 40% -50% content DHA oil witnessed highest growth potential and is further anticipated to grow due to persuading health attributes including decreasing disease severity, improving antibody action, and reducing inflammation

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According to market analysis, Asia Pacific DHA algae oil for infant formula market was over USD 170 Million in 2019 and is expected to grow over 9.5% by the end of 2026. The rise in the female workforce and the emergence of an affluent middle-class population has resulted in a rise in the per capita disposable income of consumers which should trigger the adoption of baby food. Women comprised over 20% of the entire workforce in India in 2019 which represents significant growth potential for DHA algae oil.

Consumers in Asia pacific are increasingly aware of the numerous health benefits associated with organic products, eco-friendly farming techniques and growing parental concerns regarding the baby’s nutrition. Asia Pacific accounts for the dominant share of the global population and is witnessing substantial population growth which should drive the baby food market. The addition of DHA to infant formula helps mimic breast milk composition as breast milk is rich in fatty acids such as DHA and ARA.

DHA algae oil for infant formula market from other end use is expected to grow over 5% by the end of 2026. Increasing demand for special infant formula category covering products such as lactose-free-, hypo-allergenic- and anti-reflux formulas are projected to drive the segment growth over the forecast period. DHA algae oil is increasingly used to enhance brain function and vision in children which should boost market growth.

Key manufacturers in DHA algae oil for infant formula industry include Koninklijke DSM N.V., Archer Daniels Midland Company, JC Biotech Pvt. Ltd., Polaris and BioPlus Life Sciences. Companies are implementing strategic initiatives including new product launch, mergers and acquisitions to enhance market share. For example, In April 2020, Lyxia corporation and Xiaozao Tech launched its latest product named AlgaLab DHA TG Winterized Oil offering 40% and 50% DHA triglyceride oils.

About Global Market Insights, Inc.

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.

GMIPulse, our business analytics platform offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top level categories and hundreds of industry segments within them, covering regional, company level and cross-sectional statistics that make our offering a stand-out for decision makers.

 

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