Meticulous Research® –leading global market research company published a research report titled “Omega-3 PUFA Market by Source (Marine and Plant), Type (EPA/DHA and ALA), Application (Dietary Supplement, Baby Food, Food and Beverage, Pharmaceutical, Animal Feed, and Others), and Geography- Global Opportunity Analysis and Industry Forecast (2018 – 2023)”
According to this latest publication from Meticulous Research®, the global omega-3 PUFA market is expected to grow at a CAGR of 14.5% from 2018 to 2023 to reach USD 7,583.5 million by 2023, driven by growing health consciousness among consumers and awareness about health benefits of omega-3 PUFA, increasing incidence of chronic diseases, and growing demand for omega-3 in functional foods & pharmaceuticals. In addition, rise of alternative sources such as flaxseeds, olive oil, beans, walnuts, and algae, to obtain omega-3 PUFA and emerging markets such as Latin America further provides significant opportunities for the various stakeholders in the global omega-3 PUFA market. However, high price of fish oil, absence of recommended daily intake (RDI), and uncertain regulatory environment may hinder the growth of this market to some extent.
The global omega 3 PUFA market study presents historical market data in terms of value (2016 and 2017), estimated current data (2018) and forecasts for 2023 – by source (marine and plant), type (EPA/DHA and ALA), and application (dietary supplement, baby food, food and beverage, pharmaceutical, animal feed, and others). The study also evaluates industry competitors and analyzes the market at regional and country level.
Marine sourced omega-3 PUFA witnesses a large demand, owing to its numerous health benefits and wide range of applications in dietary supplements & infant formula, approval from leading organizations for its use in various products, and its easy availability & high production worldwide. However, plant sourced omega-3 PUFA is set to be the emerging and fastest growing segment in global omega-3 PUFA market.
EPA/DHA commanded the major market share of the global omega-3 PUFA market in 2017. The large share of EPA/DHA is attributed to its wide application in infant formulas and health care & nutritional products, as a nutritional fortification ingredient. They specifically play a key role to promote cognitive health and help to lower risk of heart diseases. However, ALA expected to witness a fastest growth during the forecast period with the increasing preference of vegetarian population to consume products that contain ingredients or components derived from plant sources.
In 2017, dietary supplement segment captured a major share owing to the huge burden of chronic diseases globally and increased awareness about various health benefits of omega-3 PUFA to fight these diseases. However, infant formula is anticipated to grow at a lucrative rate due to changing food preferences of infants & toddlers and growing need to fulfill their nutritional requirements.
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This research report analyzes major geographies and provides comprehensive analysis of North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and RoE), Asia-Pacific (China, India, Japan, Australia, and RoAPAC), Latin America, and Middle East & Africa. Asia-Pacific region has captured a significant share of global omega-3 PUFA market in 2017 and is expected to register highest CAGR during the forecast period. Increasing urbanization and demand for healthy & nutritional products, health & wellness trend, rising disposable income, increasing population, abundant availability of raw material, increasing industrialization, and rising investments from major players in the region supports the greater consumption and fastest growth of omega-3 PUFA market in this region.
The key players operating in the global omega-3 PUFA market are Solutex GC (Spain), Aker BioMarine AS (Norway), Croda International PLC (U.K.), Stepan (U.S.), Pharma Marine AS (Norway), GC Rieber Oil AS (Norway), Clover Corporation (Australia), BASF SE (Germany), Cellana Inc. (U.S.), Omega Protein Corporation (U.S.), Lonza Group AG (Switzerland), Polaris (France), Koninklijke DSM N.V. (The Netherlands), Cargill, Incorporated (U.S.), Archer Daniels Midland Company (U.S.), Kerry Group (Ireland), and Epax Norway AS (Norway), among others.
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