Infant Formula DHA Algae Oil Market size is estimated to record more than 8.5 % CAGR during 2023 to 2032. The increasing awareness of the health benefits associated with DHA, a crucial omega-3 fatty acid, has attracted consumer interest in products enriched with this nutrient including DHA-fortified dietary supplements, infant formula, and functional foods owing to their preference for healthy dietary choices. According to a survey report by McKinsey & Company in 2022, 70% of the respondents across various developed markets (USA, UK, France & Germany) have the urge to become healthier and about 50% of respondents across varied age groups, claim that healthy eating is a top priority for them.
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DHA algae oil has gained popularity as a sustainable and plant-based source, particularly for those who prefer to avoid fish-derived omega-3 supplements. This factor, along with the increasing environmental consciousness of consumers is further fueling the infant formula DHA algae oil market demand. According to an article published under World Economic Forum, approximately 65% of consumers want to make the right spending choices to live a healthier and more sustainable life. Unlike fish oil, DHA extracted from algae eliminates concerns related to overfishing, mercury contamination, and environmental degradation.
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Additionally, regulatory support for the use of DHA algae oil in various applications ranging from infant nutrition to pet food, coupled with advancements in production technologies, make it an attractive choice for both businesses and consumers, shaping the infant formula DHA algae oil market dynamics.
Dearly cost associated with production is a major market restraint, as the manufacturing process for algae-based DHA can be resource-intensive. High production costs often result in premium pricing, which can limit its accessibility to a broader consumer base. Moreover, issues related to taste and odor can deter widespread adoption of DHA algae oil products, as consumers may prefer traditional fish oil supplements. Additionally, the presence of various competitors can make it challenging for new entrants to establish a foothold in the market.