Omega-3 fatty acids have emerged as essential nutrients in recent years, as researchers across the globe have found several benefits associated with their regular intake. The recent popularity of omega-3 fatty acids is mainly due to the rising incidence of cardiovascular and other lifestyle diseases. Adequate consumption of omega-3 fatty acids offers benefits such as prevention of irregular heartbeat, inflammation, and accumulation of plaque. Essential polyunsaturated fatty acids are also beneficial to the joints, eye, brain, skin, and hair.
In recent years, the demand for omega-3 fatty acids has multiplied due to growing consumer health awareness about the benefits of consuming omega-3 fatty acids such as DHA and EPA. The demand from the global omega-3 ingredients market is also expected to witness a rise as the consumers are realizing the ability of omega-3 fatty acids to reduce the chances of contracting breast, prostate, and colon cancer.
Infant Formula Segment to Top Global Omega-3 Ingredients Market
In recent years, the demand for omega-3 fatty acids has multiplied due to growing consumer health awareness about the benefits of consuming omega-3 fatty acids such as DHA and EPA. The demand from the global omega-3 ingredients market is also expected to witness a rise as the consumers are realizing the ability of omega-3 fatty acids to reduce the chances of contracting breast, prostate, and colon cancer.
Infant Formula Segment to Top Global Omega-3 Ingredients Market
The global omega 3 ingredients market is segmented on the basis of application and region. On the basis of application, the global omega-3 ingredients market is fragmented into pharmaceuticals, pet and animal feed, supplements and functional food, and infant formula. In terms of applications, the supplements and functional food products segment is expected to grow at a rapid pace due to shifting preference of consumers towards healthy food items. On a similar note, the infant formula and pharmaceutical segments will also tread on positive paths in the coming years. The fact that omega-3 fatty acids play a crucial role in the neural development of infants will fuel the infant formulations segment in the near future. Furthermore, as consumers are trying to steer clear of complexities related to high blood pressure and high blood cholesterol levels, omega-3 ingredients have emerged as a viable option, as their consumption increases the amount of HDL cholesterol, or the heart-healthy ‘good cholesterol’.
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Global Omega-3 Ingredients Market to Reach US$7.5 bn by 2021
Regionally, this market is segmented into Latin America, the Middle East and Africa, North America, Asia Pacific, and Europe. The increasing awareness of the advantages offered by omega-3 ingredients is driving the Asia Pacific market. Furthermore, as a huge number of consumers in the Middle East and Latin America realize the health benefits of omega-3-enriched diets, demand from the market will grow steadily.
All of these factors put together will propel the global omega 3 ingredients market to US$7.5 bn by 2021, from US$2.8 bn in 2014. This growth represents a CAGR 15.20% from 2015 to 2021.
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The important players in the global omega-3 ingredients market are Omega Protein Corporation, Arista Industries Inc., FMC Corporation, Copeinca ASA, PronovaBioPharma ASA, Croda Inc., BASF SE, NU-MEGA Ingredients Pty Ltd., and Koninklijke DSM N.V.
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