Analysis of Omega-3 Fatty Acids market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Omega-3 fatty acids are the unsaturated fatty acids. There are three types of fatty acids which are used by the humans ALA(α-linolenic acid) which is used in plant oils, EPA (eicosapentaenoic acid) and DHA(docosahexaenoic acid). EPA and DHA are obtained from fish. The microalgae is eaten by the phytoplankton which is further consumed by the fish. Omega-3 fatty acids are available in the form of supplements which help in the cellular function as well as the metabolism. The FDA in 2004 gave qualified health claim status to DHA and APA omega-3 fatty acids. However with the increasing pollution and climatic changes the fish population is depleting, which is the primary source for omega-3 fatty acids. Also algae is also one of the form of omega -3 fatty acids which can be suited for vegetarians. However a major restraint is the production of omega -3 which involves high cost due to downstream processing. Also increasing prevalence of heart and cancer related diseases are increasing the demand for omega-3 fatty acids market
Omega-3 Fatty Acids market is rising due to growing awareness and improved standard of living among patients. The Omega-3 fatty acids market help in fighting against heart diseases. Also the Omega 3 fatty acids are said to be useful for both eyes and brain. Thus, pharmaceutical industry is trying to increase the supply of Omega 3 fatty acids which is further creating a positive impact on the overall Omega-3 fatty acids market. Also demand for Omega-3 fatty acids supplements for pregnant and lactating mothers will increase the Omega-3 fatty acids market growth in the future.
Moreover with the awareness to lead an active lifestyle and its realization with increase the consumption of omega-3 rich fatty acids and further drive the growth of Omega-3 Fatty Acids Market. Many products in the form of food have been manufactured such as powders, gummies, fortified beverages which can be easily swallowed or mixed into the liquid. These products are increasing the demand for Omega-3 Fatty Acids. Frequent intakes of omega-3 fatty acids reduce the risk of cancer due to their anti-inflammatory reactions. According to a study by NIH government approximately 14 % adults suffer from dry eye disease in United States which can be reduced with the consumption of omega-3 fatty acids. These factors will increase and drive the market for Omega-3 Fatty Acids Market.
Geographically, global Omega-3 Fatty Acids market is divided into regions viz. North America, Latin America, Asia Pacific, Middle East & Africa, Eastern Europe and Western Europe. North America’s Omega-3 Fatty Acids market is expected to be leading with the growing health awareness and improved standard of living among people. Asia pacific region including China and Japan are expected to grow with the developing efforts of manufacturers. Also manufacturers are putting efforts to expand their business in the emerging countries which is expected to increase continuous research and development by the manufacturers in increasing the Omega-3 Fatty Acids market.
Some of the major Key players identified in the global Omega-3 Fatty Acids Market DSM Nutritional Products, FMC Corporation, Cargill, Incorporated, Terravia, Croda International PLC, and Qualitas Health, among others. The company DSM and Evonik have established a joint venture for omega-3 fatty acids from natural marine algae for animal nutrition. Also, they are focusing primarily on strengthening the core skills of their product portfolio.
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Tentatively, the global Omega-3 Fatty Acids can be segmented on Application, End User and geography.
Based on Applications, the global Omega-3 Fatty Acids Market is segmented as:
Based on Distribution channel, the global Omega-3 Fatty Acids Market is segmented as:
Based on Region, the global Omega-3 Fatty Acids Market is segmented as:
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At present, North America accounts for 40% share of the global omega-3 fatty acids market.
The global market for omega-3 fatty acids is expected to reach US$ 2.2 billion by 2028.
Increasing demand for dietary supplements and growing awareness regarding the health benefits of omega-3 fatty acids are boosting market expansion.
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