Omega-3 Ingredients Market Size and Growth Rate:
Omega 3 Ingredients Market to Surpass USD 13 Billion by 2025.
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Omega-3 Ingredients Market Growth Drivers and Restraints:
Changing lifestyles, want for a healthier lifestyle, coupled with the increasing rise of diseases is expected to drive this market. Growing investment and clinical research in the whole Omega-3 market because of its contribution to health has been growing in the recent years.
However, stringent regulations and high costs involved in the manufacture are a restraint on the market. But with demands driving the market alternative sources of omega-3 are being set up that indicates a strong push to the global market.
Known to be a key element in reducing blood pressure, bad cholesterol and controlling coronary heart diseases, Omega-3 has taken the world by a storm. Its sources include nuts, seeds, vegetable oils and the marines. It is a main ingredient of the fish oil and supplements are being created for this sole miracle. Not just for humans, animals are also fed Omega-3 to improve their general well-being. DHA (docosahexaenoic acid) dominates with over three-fourth of the revenue share, while ALA is the fastest growing amongst the available segments.
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Omega-3 Ingredients Market Geographical Segmentation:
North America is a huge market for Omega-3, owing to the high levels of cholesterol and heart diseases in the country. It is expected to clock in a CAGR growth of 7.5% up to 2022. Next, Europe is set to grow at a CAGR of 3.1% over the forecast period. The pet health market is what is driving Europe’s contribution to the global market. Asia Pacific is also a fast-growing market expected to grow at a rate of 7.5% till 2022. China, India, Japan, US, Germany, Australia, and Italy are constantly demanding functional foods like Omega-3. Countries with growing healthcare setups are investing heavily in the Omega-3 market. Some examples of such countries are India, China and other Asian countries. The growth in these sectors are owed to the pharmaceutical players like GlaxoSmithKline, Novartis, Bayer, etc.
Today, 78.8% of the Omega-3 market is dominated by the supplement source. Infant formulas that include this element are expected to boost the market by a CAGR of 8.7% by 2022. The market itself is highly fragmented with companies involved in extraction and the processing of fish oils from anchovy fishes.
Key Players of the Omega-3 Ingredients Market:
Some of the big names associated with this are DSM, BASF, Croda, Pronova, Omega Protein etc. DSM occupies 26.5% of the global market share followed by BASF with 12.5% share.
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