The latest market report published by Credence Research, Inc. “Omega 3 Market, By Type (ALA (alpha-linolenic acid), DHA (docosahexaenoic acid) & EPA (eicosapentaenoic acid)), Source (Marine, Nuts and Seeds, Vegetable oils and Soya and Soya Products), Application (Dietary supplement, Pharmaceutical, Infant formula, Food & Beverages, Pet Foods and Fish Feed) and Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) – Growth, Future Prospects and Competitive Analysis, 2017 – 2025,” the global Omega 3 market is expected to grow at a CAGR of 14% over the forecast period of 2017 to 2025
Browse the full Omega 3 Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025 report at https://www.credenceresearch.com/report/omega-3-market
Shift in trend towards adoption of healthy lifestyle is the major factor driving the market growth. Omega 3 helps to reduce heart diseases, cholesterol level and blood pressure level. Furthermore, increased consumer willingness to spend is projected to provide a positive outlook for the overall omega 3 market. Favorable regulations by EFSA and FDA towards health claims for consumption of fortified foods is likely to fuel the utilization of omega 3 based products.
However, owing to increasing environmental pollutants which is affecting the marine life is the major factor hampering the market growth, moreover, high costs are associated with the purification process associated with it. To overcome this issues companies are switching towards different sources such as plant and krill based. Increasing proliferation of the products on various distribution channels is likely to enhance the customer base for the market. Moreover, extensive R&D by the manufacturers is leading to the development of various omega 3 fortified products.
To enhance their market presence and reduce competition companies are adopting expansion and R&D strategies. To expand their market presence companies are continuously trying to develop application specific products. Some of the key players present in this market are FMC Corporation, Royal DSM, Cargill, Incorporated, Croda International Plc, and OLVEA Fish Oils among others.
- Increasing R & D projects undertaken by manufacturers
- Rising demand from end use application
- Asia Pacific offers huge market potential