Guide
With the rise of pet economy and the promotion of scientific and healthy pet raising concepts, pet owners have begun to pay more and more attention to the nutrition and health of pets, and such needs have also driven the segmentation of the pet health care industry.
AMONG THE MANY HEALTH INGREDIENTS, OMEGA-3 IS UNDOUBTEDLY ONE OF THE STARS. It has obvious benefits for the metabolism and health of dogs and cats, but both dogs and cats need additional supplements to meet basic nutritional needs. AS A RESULT, THE POPULARITY OF PRODUCTS THAT CAN PROVIDE OMEGA-3 INGREDIENTS CONTINUES TO RISE.
OMEGA-3, also known as Ω-3 and OMEGA-3, IS A GROUP OF POLYUNSATURATED FATTY ACIDS COMMONLY FOUND IN SEALS, DEEP-SEA FISH, CHIA SEEDS, FLAX SEEDS, AND SEAWEED. Based on the characteristics that pets cannot synthesize by themselves, only by supplementing with foreign oleic acid can the physiological functions of pets operate normally. It is precisely for this reason that pet health products containing omega-3 ingredients have achieved rapid development in recent years.
When it comes to the hottest pet health products nowadays, fish oil is definitely one of them. Thanks to the fact that fish oil products can provide pets with a variety of OMEGA-3 unsaturated fatty acids, care for pets' cardiovascular and cerebrovascular diseases, immune system, joint health and other physiological health, its market size and audience have achieved rapid expansion.
According to the "2022 China Pet Fish Oil Capsules Market Research Report" released by iMedia Consulting, the size of the mainland pet fish oil market in 2022 will be 430 million yuan, an increase of 25.4% compared with 2021, and the pet fish oil market will continue to expand in the future, and is expected to reach 960 million yuan in 2025.
However, as the market size and user demand continue to expand, the demand for fish oil will also increase, which leads to the price of fish oil products also rising. At the same time, the supply of fish oil has been hanging over the sword of Damocles over the heads of many producers.
According to relevant data, the average annual total fish oil production is 1.135 million tons, and the mainland fish oil production is about 30,000 tons. Fish oil has a wide range of applications, including aquaculture, medicine, pet food, edible oil, and biofuels. Among them, aquaculture accounted for the largest proportion, accounting for 74.65%; Secondly, the pharmaceutical field accounted for 15.92%, and the pet field and other uses accounted for only 9.43%.
In 2022, for example, a total of about 850,000 tonnes of fish oil was used for aquaculture, mainly for salmon, crustaceans, marine fish and other freshwater fish. The use of fish oil in the pharmaceutical sector is expected to be 170,000 tons to 180,000 tons per year. The amount of fish oil used in pet food is 70,000 tons.
In addition, the increasing supply of fish oil in Peru and the decline in the oil yield of wild anchovy from 2.5%-3% to 2% have further exacerbated the increase in fish oil prices and supply constraints. Not having enough fish sources, avoiding unacceptable overfishing, etc., seriously hinders the development of the fish oil market. As a result, the pet nutrition industry is in dire need of sustainable alternatives to fish oil.
In this case, microalgae oil began to enter the public eye. For example, Veramaris, a joint venture between Evonik and Royal DSM of the Netherlands, has developed a safe and sustainable alternative to fish oil - microalgae oil, which does not require the use of wild fish, realizing technological innovation in the automated production of omega-3 fatty acids using seaweed for continuous batch production.
Through this technological innovation, Veramaris sustainably offers EPA and DHA to support aquaculture worldwide, providing healthy, nutritious seafood to a growing population with minimal environmental impact. Ensure that aquaculture can develop without increasing demand on the ocean to help restore and maintain its fragile balance. For example, Veramaris received the highest baseline score in the Pet Sustainability Alliance's 2023-2024 list of the best performers.
Ian Carr, Director of Business Development at Veramaris, said at Aqua Nor, "The supply of fish oil has been limited for many years, and feed mills have had to continuously reduce the use of fish oil to adapt to the market rhythm, and this year the situation is even more serious, and the supply chain risk is amplified because the main source of EPA and DHA in feed is only marine ingredients. ”
The regenerative nature of microalgae oil provides supply assurance to volatile markets and meets the global demand for fish oil alternatives.
On the other hand, the omega-3 content of algal oil can be regulated by processing plants, which is a clear advantage over fish oil. Veramaris pet microalgae oil, for example, has a relatively simple production process with fewer control points, ensuring superior quality and food safety standards. Its closed fermentation process also ensures that the microalgae oil is free of marine pollutants such as heavy metals, dioxins and polychlorinated biphenyls (PCBs).
AT THE SAME TIME, THE FULLY CONTROLLED PROCESS ALSO ALLOWS FOR MINIMAL VARIATION IN EPA AND DHA LEVELS, GIVING PET FOOD MANUFACTURERS THE OPPORTUNITY TO CONFIDENTLY CLAIM THESE OMEGA-3 FATTY ACIDS IN THEIR PRODUCTS.
In this regard, pet industry observation believes that algal oil compared with fish oil, perhaps the stability of the supply chain is the biggest advantage. And with the large-scale production of algal oil, it is expected that its product prices will continue to decline, which is also a commendable topic in the increasingly competitive pet food and health products market.
In fact, algal oil products have long appeared in the domestic market, but the market size and user demand are far from fish oil. This gap still requires algal oil products to complete further market penetration and user education.
As for whether algal oil products can replace fish oil in the future, there is still a lot of room for imagination. For now, the pet health products market may usher in a new story. In this regard, Pet Industry Watch will continue to pay attention to this. Partners who are interested in this topic, welcome to leave a message in the comment area below to discuss, or add Xiaobian WeChat to communicate.