Sale
Massive Discounts! Up to 30% OFF on reports🎉

Vegan DHA Market Size, Share, Industry, Forecast and outlook (2024-2031)

Published: August 2024 || SKU: FB6571
excelpdfpowerpoint
180 pages
Report Summary
Table of Contents
List of Tables & Figures
Download Free Sample

Global Vegan DHA Market is segmented By Source (Algae, Plants, Chia Seed Oil, Flax Seed Oil, Soyabean Oil, Canola Oil, Walnut Oil, Others), By Application (Food Industry, Dairy Desserts, Bakery Confectionery, Savory Snacks, Breakfast Cereals, Functional Drinks, Juices, Pharmaceuticals, Others), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Online Stores, Others), and By Region (North America, Europe, South America, Asia Pacific, Middle East, And Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

 

Vegan DHA Market Size

Global Vegan DHA Market reached USD 895.3 million in 2022 and is expected to reach USD 1,515.4 million by 2030 growing with a CAGR of 6.8% during the forecast period 2024-2031. Docosahexaenoic acid (DHA) refers to an omega-3 fatty acid that is a primary structural component of the human brain, cerebral cortex, skin, and retina. In physiological literature, it is given the name 22:6(n-3).

It can be synthesized from alpha-linolenic acid or obtained directly from maternal milk (breast milk), fatty fish, fish oil, or algae oil. Vegan DHA is important for animal nutrition since it affects growth, reproduction, and other health consequences, whether it is given through grazing or as a dietary supplement.

The global shift toward plant-based diets and the rising awareness of the environmental impact of animal agriculture have contributed to the growing demand for vegan DHA. According to ScienceDirect, in four prior studies that measured RBC EPA + DHA in vegans, levels averaged between 1% and 3.8% compared with 3.7% in the present US study. As more individuals adopt vegan or vegetarian lifestyles, there is a need for plant-based sources of essential nutrients like DHA.

 

Vegan DHA Market Scope

Metrics

Details

CAGR

6.8%

Size Available for Years

2022-2031

Forecast Period

2024-2031

Data Availability

Value (US$) 

Segments Covered

Source, Application, Distribution Channel, and Region

Regions Covered

North America, Europe, Asia-Pacific, South America, and Middle East & Africa

Fastest Growing Region

Asia Pacific

Largest Region

North America

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis, and Other key Insights.

 

For More Insights Download Sample

 

Vegan DHA Market Dynamics

Rise in Demand for EPA/DHA-based Algae Omega-3 in Infant Formulas is Driving the Vegan DHA Market Growth

EPA (eicosapentaenoic acid) and DHA (docosahexaenoic acid) are omega-3 fatty acids that are essential for toddler improvement, especially for mind and eye fitness. Algae-based omega-three supplements are a vegan-pleasant supply of these vitamins. According to a study by The National Library of Medicine, 8.6% of mothers follow an alternative feeding regimen, and 9.2% of infants were weaned according to a vegetarian or vegan diet. As the importance of EPA/DHA in infant nutrition is widely recognized, there is an increasing demand for vegan DHA sources, including infant formulas.

Regulatory bodies in several countries have diagnosed the importance of EPA and DHA in infant nutrients and have mandated the inclusion of these vitamins in infant formula formulation. Algae-based DHA offers a vegan and sustainable source to fulfill these regulatory requirements, similarly driving the demand for vegan DHA in infant formulas.

Increasing Adoption of Plant-Based Diets is Expected to Drive the Vegan DHA Market Growth

Veganism, which involves the complete avoidance of animal merchandise, has gained massive recognition in current years. According to various surveys and studies, the number of people identifying as vegans has been steadily increasing.  For instance, according to the Vegan Society, in 2022, the global vegan population is over 629,000 people. As a greater number of individuals decide on a vegan way of life, there is a corresponding demand for vegan assets of critical nutrients, such as DHA.

Concerns about the environmental effect of animal agriculture, which include deforestation, greenhouse gas emissions, and water pollutants, have prompted many individuals to reduce their consumption of animal products. Moreover, ethical considerations associated with animal welfare have influenced humans to select plant-based alternatives. The increasing cognizance of these issues has contributed to the adoption of plant-based diets, fueling the demand for vegan DHA.

Limited Consumer Awareness About DHA and Omega-3 Supplements is Restraining the Vegan DHA Market

Many consumers may have a limited understanding approximately the importance of DHA and omega-3 fatty acids in their diet. They will be unaware of the precise benefits of DHA, including its role in brain health, eye fitness, and cognitive characteristic. This lack of know-how can result in reduced demand for vegan DHA supplements.

A few consumers may additionally believe that plant-based sources of DHA are insufficient compared to animal-based products. They will have the notion that fish oil or other animal-derived supplements are more powerful or bioavailable. This belief can result in hesitancy in adopting vegan DHA dietary supplements, proscribing market increase.

Vegan DHA Market Segmentation Analysis

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

Algae DHA Segment Holds the Largest Market Share in the Vegan DHA Market

Algae-derived DHA supplements are widely available in the market, indicating a robust supply and demand for this particular source. Many manufacturers of vegan DHA supplements use algae as their primary source due to its high DHA content. Furthermore, Regulatory bodies worldwide recognize algae-derived DHA as a safe and effective source of omega-3 fatty acids. This recognition further strengthens the position of algae DHA in the vegan DHA market.

The algae DHA segment has attracted significant attention and investment from industry players. For instance, according to Healthline, algae contains 360 mg of DHA and 600 mg of omega-3 fats. Numerous companies have dedicated their efforts to cultivating and extracting DHA from algae, highlighting the market's focus on this particular source.

 

Source: DataM Intelligence Analysis (2023)

Global Vegan DHA Market Geographical Share

North America is Dominating in the Vegan DHA Market

North America has experienced a significant surge in consumer interest in plant-based diets, veganism, and sustainable living. The region has a large population actively seeking out plant-based alternatives, including vegan DHA supplements. The increasing awareness and demand from health-conscious consumers contribute to North America's dominance in the vegan DHA market.

North America has a well-developed market infrastructure that supports the availability and accessibility of vegan products. Retailers, supermarkets, and online platforms in the region offer a wide range of vegan DHA supplements and fortified food products. The presence of such diverse product offerings enhances the dominance of North America in the vegan DHA market.

Source: DataM Intelligence Analysis (2023)

Vegan DHA Market Companies

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.

COVID-19 Impact on Vegan DHA Market

Covid-19 Impact

The COVID-19 pandemic has led to a heightened focus on health and immune support. Many individuals have become more conscious of their nutritional intake and overall well-being. Omega-3 fatty acids, including DHA, are recognized for their potential health benefits, including supporting immune function. This increased focus on health may have driven some consumers to explore vegan DHA supplements as part of their wellness regimen. During lockdowns and restricted movement, many individuals turned to home cooking and self-care practices. This shift created an opportunity for individuals to explore plant-based diets and experiment with vegan recipes. As a result, there may have been increased awareness and interest in vegan sources of essential nutrients, including DHA. 

By Source

  • Algae
  • Plants
  • Chia Seed Oil
  • Flax Seed Oil
  • Soyabean Oil
  • Canola Oil
  • Walnut Oil
  • Others

By Application

  • Food Industry
  • Dairy Desserts
  • Bakery Confectionery
  • Savory Snacks
  • Breakfast Cereals
  • Functional Drinks
  • Juices
  • Pharmaceuticals
  • Others

By Distribution Channel

  • Supermarket/Hypermarket
  • Convenience Stores
  • Online Stores
  • Other

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • The U.K.
    • France
    • Italy
    • Spain
    • Rest of Europe
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Asia-Pacific
    • China
    • India
    • Japan
    • Australia
    • Rest of Asia-Pacific
  • Middle East and Africa

Key Developments

  • In September 2021, KD Pharma Group introduced Alga3, which is a sustainable, vegan omega-3 solution. KD Nutra's superior technology and production flexibility allow for a wide range of omega-3 concentrates. This means the company can customize the EPA and DHA ratio on customer needs, and for any kd-pür fish oil, there is a matching Alga3 plant-based solution.
  • In October 2021, Omega-3 concentrates supplier GC Rieber VivoMega announced its plans to expand production facilities and storage tanks to accommodate more ingredients in the upcoming years.
  • In Polaris 2021, Polaris launched a high concentration of microalgae DHA ingredient, Omegavie DHA 800 Sensory Qualitysilver 5 algae, an algae oil sourced from microalgae (Schizochytrium sp.) that is rich in vitamins, proteins, pigments, and enzymes. The ingredient offered a plant-based and sustainable origin for polyunsaturated fatty acids (PUFAs).

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 2024

  • Manufacturers/ Buyers
  • Industry Investors/Investment Bankers
  • Research Professionals
  • Emerging Companies
Buy this report
Single User
$4350$3480
Multiple User
$4850$3880
Enterprise User
$7850$6280
Proceed to Buy
  Get Free Sample
  Customize Sample
  Demo Full Report
FAQ’s

  • Global Vegan DHA Market reached USD 895.3 million in 2022 and is expected to reach USD 1,515.4 million by 2030

  • Major players are 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.
Related Reports
food-and-beverages iconfood-and-beverages

EPA and DHA Market Size, Share, Industry, Forecast and outlook (2024-2031)

Published: 2024 August 14

Starting from

$4350

food-and-beverages iconfood-and-beverages

Vegan Eggs Market Size, Share, Industry, Forecast and outlook (2024-2031)

Published: 2024 August 09

Starting from

$4350

food-and-beverages iconfood-and-beverages

Vegan Bacon Market Size, Share, Industry, Forecast and outlook (2024-2031)

Published: 2024 October 22

Starting from

$4350

food-and-beverages iconfood-and-beverages

Vegan Cheese Market Size, Share, Industry, Forecast and outlook (2024-2031)

Published: 2024 January 31

Starting from

$4350

food-and-beverages iconfood-and-beverages

Vegan Supplements Market Size, Share, Industry, Forecast and outlook (2024-2031)

Published: 2024 August 14

Starting from

$4350

food-and-beverages iconfood-and-beverages

Vegan Dessert Market Size, Share, Industry, Forecast and outlook (2024–2031)

Published: 2024 December 30

Starting from

$4350