Global Docosahexaenoic Acid (DHA) Market Highlights over 2022 – 2031
The global docosahexaenoic acid (DHA) market is estimated to grow at a CAGR of ~7% over the forecast period, i.e., 2022 – 2031. DHA or docosahexaenoic acid (C22H32O2) is a fatty acid found in various life forms, including fishes and special kinds of algae. The growth of the market can be attributed to the growing demand for DHA supplements for children, and pregnant mothers, to facilitate the brain development of the child. DHA is a primary structural component of the human brain, and its deficiency can cause stunted mental and physical growth of the child. Moreover, the increasing health awareness amongst the population across the globe is estimated to boost the market growth. Additionally, the growing healthcare expenditure, and investment for producing new drugs, are expected to promote the market growth. According to the data by the World Bank, USD 1,111.082 was spent per capita for healthcare globally, in 2018, which has increased significantly from USD 999.104 in 2015.
The market is segmented by type into fish oil DHA, algae DHA, and others, out of which, the algae DHA segment is anticipated to hold a substantial revenue share in the global docosahexaenoic acid (DHA) market over the forecast period on account of growing cultivation of algae for medicinal purposes, along with easier availability of algae based DHA.
On the basis of end-user, the market is segmented into breastfeeding mother, infants, pregnant mother, and others, out of which, the pregnant mother segment is anticipated to gain notable share over the forecast period. This can be attributed to the growing health concerns amongst parents regarding their child, along with easier access to efficient healthcare for pregnant women. Moreover, nutrition provided in the pre-natal stage is most significant for the child, which is further estimated to boost the market growth. CLICK TO DOWNLOAD SAMPLE REPORT
Major Macro-Economic Indicators Impacting the Market Growth
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Global Docosahexaenoic Acid (DHA) Market Regional Synopsis
On the basis of geographical analysis, the global docosahexaenoic acid (DHA) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of increasing awareness regarding healthcare amongst people, along with improving healthcare facilities in the region. Moreover, the growing healthcare expenditure in the APAC region, is estimated to play a major role in the market growth. According to the World Bank data, healthcare expenditure per capita of population in the South Asia reached USD 1,959.342 in 2019.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the growing healthcare awareness amongst people, especially regarding the brain development in pre-natal stage. Furthermore, high awareness amongst people regarding diseases, such as, dementia, is estimated to boost the market growth.
The global docosahexaenoic acid (DHA) market is further classified on the basis of region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Our in-depth analysis of the global docosahexaenoic acid (DHA) market includes the following segments:
Top Featured Companies Dominating the Market
FREQUENTLY ASKED QUESTIONS
Growing demand for DHA for brain development of the child, is estimated to boost the market growth.
The market is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2022 – 2031.
The major players in the market are BASF SE, Siemens AG, Cellana, Inc., JC Biotech Private Limited, Croda Inc., Cabio Biotech (Wuhan) Co., Ltd., Algenol Inc., and TerraVia Holdings, Inc.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, application, end-user, and by region.
The pregnant mother segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.
Disrupted raw material supply for manufacturing DHA supplements is estimated to hamper the market growth.
The North America region is anticipated to provide more business opportunities over the forecast period owing to the growing healthcare industry in the region.
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