December 18, 2019
According to the research report titled ‘EPA/DHA (Omega 3) Ingredients Market Size By Source (Anchovy/Sardine Oil, High Concentrates, Medium Concentrates, Low Concentrates, Algae Oil, Tuna Oil, Cod Liver Oil, Salmon Oil, Krill Oil, Menhaden Oil), By Application (Dietary supplements, Pharmaceuticals, Functional Foods, Pet & Animal Feed, Infant Formulas), Industry Analysis Report, Regional Outlook Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026’, available at MarketStudyReport.com, the global EPA/DHA (Omega 3) ingredients market is projected to cross USD 5.7 billion by the year 2026.
Growing consumer inclination for natural ingredients coupled with shifting preference towards high quality products are driving the EPA/DHA (Omega 3) ingredients market. Omega 3 is known to improve brain health and reduces the risk of heart-related diseases. Rising consumer awareness regarding these benefits and surging animal rights concerns are augmenting the demand for EPA/DHA ingredients across the globe.
The nutritional content obtained from fishes not only strengthens the immunity but also improves the cognitive skills. However, high extraction & production cost from rare fishes such as salmon, tuna, and cod may prevail as EPA/DHA ingredients market restraining factor. Moreover, lack of consumer awareness and side-effects of high dosages like stomach disorders, headaches, and nausea will further impede the market growth.
As per source, omega 3 market from sardine oil segment is expected to register significant growth, due to its use in production of medicines for diabetes, skin diseases, and cardiovascular disorders. The oil contains antioxidants, protein, and amino acids in high concentration which promotes skin health and aids in improving metabolic system.
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Considering geographical landscape, the report cites that the Western markets will dominate the EPA/DHA ingredients industry, owing to increasing healthcare awareness and rising adoption of fish oil supplements to treat chronic diseases. Strict government policies in Europe and North America in using unpurified fish oil is compelling key industry players to develop innovative processing methods without compromising the nutritional content. On the other hand, rising healthcare awareness is augmenting the demand for high quality supplements in Asia-Pacific region which in turn will influence the industry outlook.
The prominent companies operating in EPA/DHA (Omega 3) ingredients market are Nordic Naturals, Croda, Inc., Omega Protein, DSM, BASF SE, Arista Industries, EPAX AS, and COPENICIA ASA.
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