The global
omega 3 market is expected to reach USD 3.01 billion by 2022, according to a
new report by Grand View Research, Inc. Growing consumer demand for omega 3
owing to its benefits for physical as well as mental wellbeing is expected to
propel growth over the forecast period.
Demand for
omega 3 was highest in supplements & functional foods accounting for over
75% of the global volume share in 2014. Growing demand for functional foods as
they help in reducing risk of heart diseases as well as promote optimal health
is expected to drive demand for the ingredient over the forecast period. Increasing tendency of obesity, particularly among the younger generation, is
likely to fuel demand for dietary supplements over the next few years.
To request a
sample copy or view summary of this report, click the link below:
http://www.grandviewresearch.com/industry-analysis/omega-3-market
http://www.grandviewresearch.com/industry-analysis/omega-3-market
Further key findings from the study suggest:
- Omega 3 demand in infant formulas is expected to witness significant gains at a CAGR of 8.7%, in terms of volume, over the forecast period. Rising population of infants, particularly in Africa and Middle East, coupled with rising awareness among parents regarding nutrient gap is expected to propel demand for baby food with high nutrient content.
- Increasing awareness regarding the benefits of adding omega 3 to pet & animal food to improve their overall health as well as diary yield is expected to propel demand. Demand is expected to exceed 11.0 kilo tons by 2022.
- Pharmaceuticals & infant formulations are low volume and high value segments, together accounting for over 40% of the market revenue in 2014. Rising consumer awareness in Asia Pacific and Middle East regarding general wellbeing, increasing disposable income and ease of accessibility to healthcare facilities is expected to propel demand in the region over the next seven years.
- Asia Pacific is expected to lead the global market over the next few years owing to the rising consumption of omega 3 in the form of supplements & functional foods, pharmaceuticals as well as infant formulations. The region is expected to account for over 30% of the global volume share by 2022.
- The market is dominated by major participants including BASF, DSM, Pronova, Croda and Omega Protein. Other players include Aker BioMarine, EPAX, BioProcess Algae, Martek Biosciences, GC Rieber Oils, Lonza and Axellus. In October 2015, DSM launched a new line of high concentrate DHA (docosahexaenoic acid) and EPA (eicosapentaenoic acid) products sourced from fish oil and a high concentrate docosahexaenoic acid from the vegetarian algal oil. The products contains 85% omega 3 to support cardiovascular and cognitive health. In June 2015, Croda introduced Incromega DHA which is ideal for cognitive health and has certification of EFSA (European Food Safety Authority).
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About
Grand View Research:
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email:
sales@grandviewresearch.com
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