DHA Supplements Market Scope
Growing disposable income, increasing health awareness and an upsurge in consumer expenditure on healthy food products have driven the Global DHA Supplements market. Moreover, the ingredient of this market is also growing due to increasing awareness of a healthy lifestyle. DHA (docosahexaenoic acid) is an omega-3 fatty acid mostly found in cold-water oily fish and seaweed. Interestingly, Our body also produces a small amount of DHA naturally. FDA (Food and Drug and Administration) has also confirmed with health claims by consuming traditional foods fortified from EPA/DHA ingredients which can result in lowering cardiovascular risks with a minimum intake of 500 mg/day has been suggested by The American Dietic Association to benefit health-wise. Health benefits offered by intake of Eicosapentaenoic acid (EPA)/docosahexaenoic acid (DHA) including reducing blood pressure, bad cholesterol and coronary heart diseases such as strokes and heart attacks, rising demand for DHA supplements for pregnant women owing to lack of adequate DHA in the diet is expected to drive the DHA supplements industry.
According to AMA, the Global DHA Supplements market is expected to see growth rate of 2.0%
The market is fragmented by many small and large vendors. The companies in this market are adopting expansion and acquisition as their key strategies to develop distinguished products and reduce competition by capturing additional market share. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global DHA Supplements market throughout the predicted period.
DSM Nutritional Products (Europe), Kingdoway Group (China), Stepan Company (United States), Novotech Nutraceuticals (United States), Lonza Group (Canada), Arjuna Natural Extract Limited (India) and Martek Biosciences Corp. (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Navchetana Kendra Health Care Private (India), Qingdao Sunrise Trading (China), Dalian Jixin Electronic and Communication (China), Hebei Domydo Co., Limited (China), BIOPREX LABS (India), Auqi Marine Bio-Tech Co.,Limited (China) and Evonik (Europe).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
The study have segmented the market of Global DHA Supplements market by Type (Fatty Acids, Phospholipids, Seafood Fats and Oils and Other), by Application (Infant formulae, Dietary Supplements, Fortified food, Beverages, Pharmaceuticals and Others) and Region with country level break-up.
On the basis of geography, the market of DHA Supplements has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
On January 2019, a Norwegian salmon farmer implemented the use of Omega 3 EPA and DHA algal oil at commercial scale to make salmon production less dependent on finite fish oil resources. and On January 2018, DSM Nutritional products and Evonik Company have established a new company, Veramaris for the production of omega-3 fatty acids EPA and DHA from natural marine algae for animal nutrition. The joint venture is headquartered at the DSM Biotech Campus (Netherlands).
- Countries including India, China are spending on pharmaceutical sector and are attracting foreign players such as Swiss company Novartis, Germany’s Bayer and GlaxoSmithKline (GSK) to invest in the pharmaceutical sectors for DHA supplement products.
- Expanding geriatric population and rising consumer awareness
- Requirement of Omega-3 fish oil for baby’s brain development
- Interest of consumers in functional and fortified food products
- Increasing demand for fortified infant formula due to population growth in emerging economies.
- Growing demand for fortified infant formula due to population growth and rising middle class in emerging economies.
- Increasing temperature of the ocean
- Lack of promotional activities about this market
- Less awareness about the type of fats and its benefits among consumers.
- Increasing mercury contents and contamination levels in fishes.
Key Target AudienceDHA Supplements manufacturers, Government and regulatory bodies, Joint Ventures, Traders, Distributors and Suppliers and Intermediaries