The Infinium Global Research analyzes the Omega3 Market over the period of 2017 to 2023. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in global omega3 market. It will help a lot of decision makers to develop strategies and find new opportunities in the global markets of omega3. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the omega3 market during the period.
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Omega-3 are essential components of the membrane that surround each cell in the human body. Omega-3 helps to reduce heart disease and also stimulates healthy skin. Omega-3is applicable in reducing inflammation, risk of diabetes, and also it promotes weight loss and reduces the incidence of cardiovascular diseases. There is broad range of products available to consumers such as Canola, Latitude, and IngreVitawhich provides significant amount of Omega-3.
Rising Awareness about the Health Benefits of Omega-3 Drives the Growth of the Omega-3 Market
Rising awareness about the health benefits of omega-3 drives the growth of the omega-3 market. The increasing prevalence of cardiovascular diseases contributes to the growth of the omega-3 market. According to the World Health Organization, cardiovascular diseases take lives of 17.9 million people every year, 31% of global deaths. In addition, the demand for omega-3 from pharmaceutical companies promotes the growth of the omega-3 market. On the other side, high prices of omega-3 hamper the growth of the omega-3 market. Moreover, technological advancement with rising research and development of omega-3 encapsulation creates an opportunity for the omega-3 market.
Omega-3 Market: Segmentation
The omega-3 market is segmented on the basis of application, source, type, and region. Based on application, the market is classified into a dietary supplement, fish feed, food and beverage, infant formula, pet food, pharmaceutical, and some others. Based on the source, the market is classified into marine, nuts and seeds, soya and soya products, vegetable oils and others. And based on type, the market is classified into alpha-linolenic acid (ALA), docosahexaenoic acid (DHA), eicosapentaenoic acid (EPA) and others. Docosahexaenoic acid (DHA) is expected to be dominant in the type segment of the omega-3 market.
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North America is Anticipated to Be Dominant in the Omega-3 Market
Geographically, the omega-3 market is categorized into North America, Europe, Asia-Pacific and the Rest of the World. North America is anticipated to be dominant in the omega-3 market. North America region has a higher consumption of omega-3 owing to increased demand for omega-3. Rising high cholesterol cases in America contributes to the growth of the omega-3 market. In the United States, more than one-fifth (20%) of youth aged 12–19 years have at least one abnormal lipid level. Rising awareness about nutritional food in Europe drives the demand for omega-3 in Europe. Asia-Pacific region is also expected to grow in the omega-3 market due to the high population and increasing disposable income.
Omega-3 Market: Competitive Analysis
The key players in the omega-3 market are BASF SE, Cargill Inc., Croda International plc, GC Rieber Oils, Martek Biosciences Corporation, Pharma Marine AS, Royal DSM, OLVEA Fish Oils, Omega Protein Corporation, and Zymes LLC. Key players are focusing on strategic partnerships, mergers, and acquisitions. For instance, Cargill Inc. acquired EWOS from Altor and Bain Capital. The acquisition gives Cargill entry into a salmon market where salmon is a source of omega-3. Cargill’s animal nutrition business becomes a leading player in the salmon feed industry.
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