EPA and DHA Omega 3 Ingredients Market - The ‘Functional’ Future
For centuries, ingredients have served the purpose of breathing new lives into a wide variety of products and their respective degrees of usefulness. While the conventional use of ingredients was more of an ‘aesthetic-oriented’ pursuit, the preferences of new-age consumers are more inclined toward ingredients offering a myriad of functional benefits.
Consumers, in the present scenario, have moved past basic purchases and are much more invested in products that are not only grasp their appeal but also add considerable value. This has encouraged majority of the industry operators to include the goodness of high-quality ingredients in their offerings, which, in turn, is adding new certainties to the long-term adoption of omega 3 ingredients.
Omega 3 ingredients have carved out their unique spaces in the global functional ingredients landscape, on account of their well-documented benefits apropos of cardiovascular health. Similar is the case of EPA (eicosapentaenoic acid) and DHA (docosahexaenoic acid) Omega 3 ingredients, which are successfully making their way into the wellness scene and are being well-accepted for food & beverage, dietary supplements, infant formulas, pharmaceutical, animal feed, and various other applications.
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Preventive Healthcare with Dietary Supplements: Rendering New Possibilities
The trend of ‘preventive healthcare’ is headed toward its peak, and modern consumers are harnessing the power of dietary supplements to jump onto this bandwagon.
The new-age consumers have become highly ‘self-directed’ and the way they arrive on purchasing decisions has drastically transformed over the years. Brands offering dietary supplements are catching up with this dynamic trend via use of active ingredients, which is likely to propel the growth of EPA and DHA Omega 3 ingredients market in the coming decade.
The trend of preventive healthcare is being set in motion by online forums, magazines, and social media platforms, which dispense lifestyle and dietary bits of advice on a regular basis.
This barrage of information contributes toward shaping of consumer preferences in favor of EPA and DHA Omega 3 ingredient-infused products, thereby encouraging dietary supplement brands to invest in these ingredients.
In addition, increasing focus of dietary supplement brands on refashioning their marketing strategies with ‘value-adds’ being their key marketing proposition. This, in turn, is also setting the stage for high consumption of EPA and DHA Omega 3 ingredients in 2019 and beyond.
Fortification of Infant Nutrition Offers New Growth Grounds
Infant nutrition is at the cusp of crucial shifts with regards to the ingredients being used, as the trend of ‘functional fortification’ has, and will continue to spread its roots in the space of neonatal nutrition.
Use of Essential fatty acids (EFA), which are well-known for their contribution toward cellular metabolism, is gaining momentum as precursors nourishing the cognitive and cardiovascular health in infants. Omega 3 derivatives, primarily DHA, have firmly established themselves as ‘brain nourishing’ ingredients used in infant formulas, and this adoption is further estimated to scale new heights in 2019 and beyond.
The growing population of working mothers is giving an impetus to the sales of infant formulas infused with high-quality functional ingredients. As working mothers are on a constant lookout for alternatives matching up with the nutritional value of human milk, the adoption of EPA and DHA Omega 3 ingredients in infant food is estimated to be on a tear for the next 10 years.
However, this adoption is likely to bear the brunt of research findings that unveil that DHA-infused infant foods are largely futile and have minimal to no impact on the infants’ overall wellbeing.
An Adaptive Approach to Modern-day Research Needs
Longer Regulatory Approvals: A Longstanding Challenge
Though regulations can play a crucial role in fostering long-term adoption of a product, ‘multi-phased’ regulatory approvals can potentially hamper large-scale penetration of the same.
Multiple phases in the overall regulatory approval process of EPA and DHA Omega 3 ingredients adversely impacts the ‘time-to-market’ variable, and lack of compliance with any of these regulatory phases can completely close off opportunities for the market players.
The initial stage of laboratory and animal testing, followed by a detailed clinical research and FDA examination makes the overall procedure of regulatory approvals way too long, posing a myriad of challenges for the market players.
After the three-staged testing, FDA also conducts a post-market drug safety of the concerned product, wherein it closely examines the safety parameters after they are commercialized for consumption.
To deal with these challenges, manufacturers active in the EPA and DHA Omega 3 ingredients market are focusing on end-to-end adherence of the manufacturing process with the established set of rules, which will help them gain competitive advantages over their rivals.
Tapping the Untapped – Brands Eye New Opportunities in Personal Care
Companies active in the EPA and DHA ingredients market are working on influential marketing- a game-changer deciding their fate in the competitive market space.
Brands are experimenting with innovative packaging models as a key marketing gimmick, which helps them sway consumer decision-making and stack the odds in their favor. As the demand for functional ingredients continues to grow at a breakneck pace, it has become essential for market players to work on new product developments whilst retaining their core competencies.
For instance, in 2018, KD Pharma Group unveiled the launch of two of its exclusive DHA and EPA Omega 3 ingredients for use in multiple applications, including food and beverages, dietary supplements, infant nutrition, and animal feed.
Manufacturers are also shifting their strategic focus toward alliances, primarily mergers and acquisitions, to expand their technology & manufacturing bases and successfully meet the market demand for highest quality EPA and DHA Omega 3 ingredients in response to label expansions and favorable clinical research.
Market players are focusing on few of the untapped corners in the personal care and cosmetics market, as the use of Omega 3 ingredients in personal care is on its way to outgrow its phase of dormancy.
The use of EPA and DHA Omega 3 ingredients in personal care and cosmetics spectrum has been pushed by multiple research findings, which have attested the ‘anti-aging’ effects of these ingredients.
EPA and DHA Omega 3 ingredients have also been long known for their skin reparative effects and are being widely accepted by personal care and cosmetic providers, which is further reflecting future opportunities for the market players to reap high profits from.
Interested to Procure The Data
An end-to-end forecast on the EPA and DHA Omega-3 ingredients market has also been propounded by the analysts, who have bifurcated the overall market forecasts into various categories.
Analysis as well as assessment of the price points as per region and various applications of EPA and DHA Omega-3 ingredients have been included into the research study. The study also discusses about various pricing strategies adopted by manufacturers operating in the EPA and DHA Omega-3 ingredients market.
Based on Source, the global EPA and DHA Omega-3 Ingredients market is segmented into:
- Fish Oil
- Algae Oil
- Other Plant & Animal Oils
Based on Grade, the global EPA and DHA Omega-3 Ingredients market is segmented into:
- Technical Grade
- Food Grade
- Pharma Grade
- Feed Grade
Based on End Use Application, the global EPA and DHA Omega-3 Ingredients market is segmented into:
- Food & Beverage
- Dietary Supplements & Nutraceutical Industry
- Infant Formulas
- Pharmaceutical & Clinical Nutrition
- Animal Feed
Based on Region, the global EPA and DHA Omega-3 Ingredients market is segmented into:
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa (MEA)