For decades, omega-3 oil supplements have been sourced from fish and krill. However, with the increasing ecological impact of large-scale fishing and consumer demand for plant-based products, there is pressure to find alternative sources. Global sales for fish oils and omega-3 fatty acids exceeded $3.2 billion in 2020. This market continues to grow and consumers of these products are rapidly demanding vegan alternatives.
With the support of AgriFutures Australia and partners Swisse Wellness, Marinova and CSIRO we set out to answer the question: “Is there an algae that can be grown locally as a viable omega-3 source?”
As well as discovering the answer to this, we also discovered more about the algae opportunity. This report summarises our findings and provides background to the opportunity and the market context, plus information on how to participate.
What did our research achieve?
- That omega-3 fish/krill oils could be replaced/complemented with a fully vegan omega-3 product sourced locally from algae, in an environmentally sustainable way.
- A shortlist of ideal strains for commercialisation, factoring in yields, growth rates, potency etc.
- That seaweed can provide a collagen degradation inhibitor, which is a unique opportunity in a growing global market.
- We discovered the algae-seaweed market is rapidly emerging, and offers an opportunity for local investor to participate.