Omega 3 ingredients are naturally occurring polyunsaturated fatty acids and nutrients that are imperative for optimal human health. There are three types of omega 3 ingredients, namely, alpha-linoleic acid (ALA), eicosapentaenoic acid (EPA), and docosahexaenoic acid (DHA). EPA and DHA are primarily extracted from fish and ALA is primarily extracted from plants sources such as seeds and nuts.
Docosahexaenoic Acid (DHA) products accounted for the dominant segment in omega 3 ingredients market in 2016, according to Coherent Market Insights Analysis. EPA/DHA consumption is gaining traction over alpha linoleic acid (AHA) due to certain health benefits such as stabilizing blood pressure, reducing bad cholesterol, and coronary heart diseases. This in turn, is expected to drive growth for the omega 3 ingredients market in the forecast period. Furthermore, the economically-efficient production of omega 3 fatty acids, has led to its wide application in supplements, food, and pharmaceutical industries. This in turn, is propelling growth of the global omega 3 ingredients market, a trend that is expected to sustain over the forecast period.
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Omega 3 fatty acids are basically extracted from fish, which includes fish oil extraction followed by refining of fish oil. Food industry is the largest user of the omega 3 polyunsaturated fatty acids, which are used to obtain omega 3 rich food products and in turn is expected to boost the market for omega 3 fatty acids during the forecast period. However, with growing demand for organic ingredients in food products, market players are focusing on developing more digestible triglyceride concentrates and natural ingredients. For instance, omega 3 ethyl ester derivatives are gaining traction and is expected to dominate the market of omega 3 ingredients during the forecast period.
The global omega 3 ingredients market was valued at US$ 3.83 billion in 2016 and is expected to expand at a CAGR of 15% in terms of revenue during 2017 – 2027.
Omega 3 Ingredients and Health Benefits
The increase in various health diseases has resulted in an increased need for healthy fuel the demand for omega 3 fatty acids, due to various health benefits is expected to propel the market for omega 3 ingredients during the forecast period. For instance, few health benefits are listed below
Blood fat (triglycerides):consumption of fish oil can lower the risk of heart attack and lower triglyceride levels.
Rheumatoid arthritis:consumption of omega 3 ingredients lowers join pain and curbs stiffness.
Depression:regular consumption of omega 3 ingredients in food products lowers the levels of depression and boosts the effects of antidepressants.
Baby development:consumption of DHA is helpful for neurological and visual development in infants.
Asthma:consumption of omega 3 ingredients lowers the inflammation level for asthma patients and also enhances functioning of lungs.
ADHD: consumption of omega 3 ingredients improves mental skills such as learning and thinking capacity of children.
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Alzheimer's disease and dementia: consumption of omega 3 ingredients positively impacts the link between aging and gradual memory loss, thus protecting against Alzheimer's disease and dementia.
Europe, followed by North America, and Asia Pacific, respectively accounted for major revenue shares in the global omega 3 ingredients market in 2016 and the trend is projected to remain the same over the forecast period. In 2016, North America held a market share of 28.1%, followed by Europe’s share of 27.6% in the omega 3 ingredients market. The growing demand for healthy food in North America due to growing awareness increased foodborne diseases and growing food industry is expected to drive the growth of this global market over the forecast period. According to a study conducted by Coherent Market Insights, the global pharmaceuticals market is expected to witness a CAGR of 15% during 2017 to 2027, which in turn, is expected to fuel growth of the global omega 3 ingredients market.
A survey conducted by National Center for Complementary and Integrative Health in the United States, concludes that fish oil was the most common natural supplement product used by over 8 million adults in the United States in 2012, than in 2007.
Multinational players need to tap into the potential addressable market in emerging regions with the help of geographical expansion
Major players in the global Omega 3 Ingredients market include Koninklijke DSM NV, BASF SE, Croda International Plc., NU-MEGA Ingredients Pvt. Ltd., Pronova BioPharma ASA, Omega Protein Corporation, and Ocean Nutrition Canada Limited, among others.
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