Omega-3 Market to Witness Revolutionary Growth by 2025
by Mit K. SEOThe global omega-3
market is estimated to be valued at USD 4.1 billion in 2019 and is
projected to reach USD 8.5 billion by 2025, recording a CAGR of 13.1%. Consumer
awareness regarding the health benefits of omega-3 and an increase in
application profiling and existing applications finding new markets are the
factors that are projected to drive the growth of the global omega-3 market.
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By application, the infant formula segment is projected to
grow at the highest CAGR. This is due to the growing awareness among the
parents to combat the deficiencies of omega-3 in the infants. Many women these
days suffer from omega-3 deficiencies due to which adequate amount of EPA and
DHA, which is required for infant brain development, is not passed on to the
infants through breast milk. Due to these factors, the omega-3-rich infant
formula is projected to grow at a higher growth rate.
Based on the source, the omega-3 market is segmented into
marine and plant. The marine source of omega-3 is estimated to account for a
larger share due to the large EPA and DHA content in most of the oily fishes
such as salmon. Most of the manufacturers are also manufacturing marine-based
omega-3 to meet the growing demand for EPA and DHA, which are not abundantly
present in other plant-based sources.
The omega-3 market in Asia Pacific is projected to witness
high growth due to rising awareness about its health benefits and increasing
disposable income of the population in the Asia Pacific countries. With the
growing inclination toward healthy aging in the region, the adult population
prefers consuming dietary supplements, including omega-3, as per the
recommendations by the Global Organization for EPA & DHA Omega-3 (GOED).
Moreover, in Asia Pacific countries, the governments are also focusing on and
promoting fortified foods, and many big brands such as BASF (Germany) and Croda
International (UK) have expanded their operations in these countries to cater
to the growing demand for omega-3. Key manufacturers prefer expanding in the
Asia Pacific region, as it provides cost-effective benefits during production
and processing. The high demand for omega-3 and low cost of production are the
major factors that are projected to encourage suppliers and manufacturers to
invest in this market. In addition, Asia Pacific has the highest growth
potential due to factors such as high economic growth and the increase in
income of individuals in the region. The high population growth and increase in
FDI are factors that are driving the growth of the omega-3 market.
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This report includes a study on the marketing and
development strategies, as well as the product portfolios of the leading
companies operating in the omega-3 market. It includes the profiles of leading
companies such as Epax (Norway), Croda International (UK), Golden Omega
(Chile), GC Rieber (Norway), Cargill (US), DSM (Netherlands), BASF (Germany),
Lonza (Switzerland), KD Pharma (Germany), and Pharma Marine (Norway).
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Created on Feb 8th 2022 03:22. Viewed 252 times.