Algae Omega 3 Ingredient Markets Entering into a ‘Super Demand’ Cycle for 2018
The global algae omega 3 ingredient market records a revenue of USD 431.5 million in 2016 and is expected to grow at a CAGR of 11.5 % during the forecast period of 2018 – 2023. Algae as a source accounts for 18% of the global Omega 3 Ingredient market. The market is highly fragmented with the regional domestic players and the international players.
The demand for algae omega 3 is growing at a faster rate in infant food fortification as it provides the same benefit that of fish oil, but it has no off odor or taste. Omega 3 obtained from algae is considered as more bioavailable and sustainable for production which is highly required at present time, where overfishing is a major problem.
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