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Press Release: Global Omega 3 Ingredients Market to Surpass US$ 13 Billion by 2025, Fueled by Burgeoning Growth of Foodborne Diseases
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Omega 3 Ingredients – Insights
Omega 3 ingredients are naturally occurring polyunsaturated fatty acids and nutrients that are imperative for optimal human health. There are three types of omega 3 ingredients, namely, alpha-linoleic acid (ALA), eicosapentaenoic acid (EPA), and docosahexaenoic acid (DHA). EPA and DHA are primarily extracted from fish and ALA is primarily extracted from plants sources such as seeds and nuts.
Docosahexaenoic Acid (DHA) products accounted for the dominant segment in omega 3 ingredients market in 2016, according to Coherent Market Insights Analysis. EPA/DHA consumption is gaining traction over alpha linoleic acid (AHA) due to certain health benefits such as stabilizing blood pressure, reducing bad cholesterol, and coronary heart diseases. This in turn, is expected to drive growth for the omega 3 ingredients market in the forecast period. Furthermore, the economically-efficient production of omega 3 fatty acids, has led to its wide application in supplements, food, and pharmaceutical industries. This in turn, is propelling growth of the global omega 3 ingredients market, a trend that is expected to sustain over the forecast period.
Omega 3 fatty acids are basically extracted from fish, which includes fish oil extraction followed by refining of fish oil. Food industry is the largest user of the omega 3 polyunsaturated fatty acids, which are used to obtain omega 3 rich food products and in turn is expected to boost the market for omega 3 fatty acids during the forecast period. However, with growing demand for organic ingredients in food products, market players are focusing on developing more digestible triglyceride concentrates and natural ingredients. For instance, omega 3 ethyl ester derivatives are gaining traction and is expected to dominate the market of omega 3 ingredients during the forecast period.
The global omega 3 ingredients market was valued at US$ 3.83 billion in 2016 and is expected to expand at a CAGR of 15% in terms of revenue during 2017 – 2027.
Figure 1. Global Omega 3 Ingredients Market-By Product Type in 2016 (Value in US$ Billion)
Omega 3 Ingredients and Health Benefits
Rising occurrences of various health diseases is resulting in increasing demand for omega 3 fatty acids due to various health benefits offered by it. This is expected to propel growth of the market over the forecast period. Few health benefits offered by omega 3 ingredients are listed below:
Alzheimer's disease and dementia: consumption of omega 3 ingredients positively impacts the link between aging and gradual memory loss, thus protecting against Alzheimer's disease and dementia. Regional Insights
Europe, followed by North America, and Asia Pacific, respectively accounted for major revenue shares in the global omega 3 ingredients market in 2016 and the trend is projected to remain the same over the forecast period. In 2016, North America held a market share of 28.1%, followed by Europe’s share of 27.6% in the omega 3 ingredients market. The growing demand for healthy food in North America due to growing awareness increased foodborne diseases and growing food industry is expected to drive the growth of this global market over the forecast period. According to a study conducted by Coherent Market Insights, the global pharmaceuticals market is expected to witness a CAGR of 15% during 2017 to 2027, which in turn, is expected to fuel growth of the global omega 3 ingredients market.
A survey conducted by National Center for Complementary and Integrative Health in the United States, concludes that fish oil was the most common natural supplement product used by over 8 million adults in the United States in 2012, than in 2007.
Multinational players need to tap into the potential addressable market in emerging regions with the help of geographical expansion
Major players in the global Omega 3 Ingredients market include Koninklijke DSM NV, BASF SE, Croda International Plc., NU-MEGA Ingredients Pvt. Ltd., Pronova BioPharma ASA, Omega Protein Corporation, and Ocean Nutrition Canada Limited, among others.
Omega 3 ingredients are naturally-occurring polyunsaturated fatty acids and nutrients that are critical for human health. There are three types of omega 3 ingredients namely alpha-linoleic acid (ALA), eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA). These types of ingredients are used in various applications such infant formula, supplements & functional foods, animal feed, and pharmaceuticals. Supplements & functional foods was the largest segment in the global omega 3 ingredients market in 2016, and the trend is expected to remain the same during the forecast period. Growing lifestyle and age-related diseases in North America and Europe is subsequently fueling growth of the supplements & functional foods segment. Also, emerging economies in Asia Pacific, Latin America, and Africa are fueling demand for omega 3 ingredients for application in the flourishing pharmaceuticals industry. The market for omega 3 ingredients is expected to expand at a CAGR of 15.00%, during 2017-2025, according to Coherent Market Insights analysis.
Various research studies have established a link between consumption of fatty fish and lowering of coronary heart diseases. For instance, fish oils are used as a supplement to balance the required dietary intake of eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA). Also, fish oil is commonly recommended as a supplement product for people who have had a myocardial infarction by the American Heart Association, World Health Organization (WHO), the National Heart Foundation of Australia and National Health and Medical Research Council (NHMRC).
Market Dynamics
Increasing consumer health awareness about the benefits associated with the consumption of omega-3 fatty acids such as DHA and EPA are major factors fueling growth of the global omega-3 ingredients market. Omega-3 ingredients are also linked with lowering prevalence of cancer, heart diseases, and arthritis. Cancers of the prostrate, colon, and breast can be lowered with the intake of omega-3 ingredients. Also, omega-3 ingredients play a major role in brain development of infants, which is a major factor propelling growth of the global omega 3 ingredients market. Low public awareness about the types of omega 3 fatty acids and their benefits will restrict growth of the global omega-3 ingredients market. Negative consumer perception about the smell and taste of omega-3 ingredients is also expected to restrict the growth of the market. Technological advancements and product innovation is expected to fuel the market for omega 3 ingredients during the forecast period. For instance, on October 6, 2016, DSM introduced new 3C technology to reinvigorate omega 3 supplements category. Also, on June 9, 2015, Croda introduced Incromega DHA and approved by European Food Safety Authority (EFSA). On March 8, 2017, Royal DSM and Evonik collaborated to manufacture omega 3 fatty acid products from natural marine algae for animal nutrition. This innovation will enable the production of omega 3 fatty acids for animal nutrition without using fish oil. North America, followed by Europe and Asia Pacific is expected to dominate the market in 2016 and the trend is expected to remain the same during 2017-2025.
Market Taxonomy
This report segments the global Omega 3 Ingredients market on the basis of source, type and application. On the basis of source, the market is segmented as Nuts and Seeds, Vegetable Oils, Marine and Soya. On the basis of type, the global Omega 3 Ingredients market is segmented as ALA, DHA and EPA. On the basis of application, the global Omega 3 Ingredients market is segmented into Infant Formula, Supplements & Functional Foods, Animal Feed, Pharmaceuticals and Others.
Key features of the study:
Detailed Segmentation:
“*” Marked represents similar segmentation in other categories in the respective section.
Note- We will profile top 10 companies’ profiles. Also, we will provide the exhaustive list of domestic players for every region.
Table of Contents
“*” marked represents similar segmentation in other categories in the respective section.
Note- We will profile top 10 companies’ profiles. Also, we will provide the exhaustive list of domestic players for every region.
*Browse 90 market data tables and 40 figures on "Omega 3 Ingredients Market - Global forecast to 2025”.
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