Global Omega-3 PUFA market is expected to grow at the CAGR of 13.5%. Omega-3 poly unsaturated fatty acid (PUFA) is a type of necessary fatty acid which cannot be synthesized by human body which needs intake through omega-3 rich food. Omega 3 PUFA is used to enhance the cardiovascular and cognitive functioning of the human body. The ingredients of Omega-3 PUFA are sourced from the various fish oil, krill oil, chia seed, flex seed and other plant sources. Omega-3 PUFA has evolved as one of the vital nutritional ingredients for its various application such as supplements, fortified food products, nutritive drinks and others.
The demand for Omega-3 PUFA is anticipated to be driven by the increasing awareness of the health conscious consumers. Omega-3 PUFA also enhances to minimize the cardiovascular problem which in turn escalates the demand of Omega-3 PUFA in the upcoming decade. Drug manufacturers are also emphasizing on developing new medicines by concentrating these ingredients in the products. Moreover, consumers are becoming aware of the unhealthy diet and to meet the daily nutrient requirements consumers are willing to accept Omega-3 supplements. However, upcoming years are likely to witness a substantial growth in the Omega-3 PUFA market.
Key players in the global Omega-3 PUFA market are emphasizing to enhance investment in product development in order to extend the product line. Also, the companies are also inclined to increase their footprint across the world by acquiring local and regional players. Apart from that, the companies are introducing their products in the developing economies in order to penetrate in the untapped market.
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This report includes a study of strategies such as mergers and acquisitions, product launches by the major Omega 3 PUFA market players. It further includes product portfolios, developments of leading major players which includes
- Cargill, Incorporated (U.S.)
- FMC Corporation (U.S.)
- Croda International PLC (U.K.)
- Hain Celestial Group, Inc. (U.S.)
- Omega Protein Corporation (U.S.)
- Royal DSM (The Netherlands)
- GC Rieber (Norway) and
- Pharma Marine USA LlC (U.S.)
Omega-3 PUFA market is dominated by key manufacturers and very few new players are entering in Omega-3 PUFA market due to requirement of high investment cost in Omega-3 PUFA R&D and Omega 3 PUFA processing. The global Omega 3 PUFA industry is expected to witness increase in mergers, acquisition and strategic alliance in upcoming years
The global Omega-3 PUFA market is segmented into North America, Europe, and Asia Pacific along with rest of the world (RoW). Among these North America region holds the major market share in the global Omega-3 PUFA market both in terms of value and volume. This is attributed by the rising health conscious people in US and also presence of key players in the North America region. Also, key players are introducing new products in North America region in order to retain their existing customers and also to acquire new customers. Asia Pacific region is expected to grow immensely during the forecast period. The Asia Pacific market is driven by the increasing consumer awareness regarding the product as well as the growing chronic diseases in developing economies of Asia Pacific are propelling the growth of the Omega-3 PUFA market during the forecast period.
North America is projected to dominate the global Omega-3 PUFA market during the forecast period
Asia-Pacific region is expected to register maximum growth over the forecast period due to the increasing consumer demand for fortified and infant nutrition products
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Omega-3 PUFA market has been segmented on the basis of types of omega-3 PUFA which comprises of EPA, DHA, ALA
Omega-3 PUFA has been segmented on the basis of source which includes animal source, plant source. Animal source can be sub-segmented such as fish oil, algal oil, krill oil and others. Also, plant source can sub-segmented such as chia seed, flex seed, hemp seed and others.
Omega-3 PUFA has been segmented on the basis of application which comprises of food & beverages, dietary supplements, pharmaceuticals, infant formula and others
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