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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