Global Omega 3 Ingredients Market to Reach USD 7,499.5 Million by 2021, North America Projected to be Most Attractive Regional Market

2024-10-27 03:46:27 Lifestyle

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Transparency Market Research has published a new market report titled ?Omega 3 Ingredients Market (By Application - Supplements and functional foods, Pharmaceuticals, Infant formula, Pet and Animal Feed, Others) ? Global Industry Analysis Size Share Growth Trends and Forecast, 2015 ? 2021? was valued at USD 2,786.2 million in 2014 and is expected to reach USD 7,499.5 million estimated to grow at a CAGR of 15.2% during the forecast period.

Increasing consumer awareness about healthy eating and balanced diet is one of the major factors driving the demand for omega 3 ingredients globally. The source of omega 3 ingredients such as EPA and DHA are algae, fish oil, krill, and squid. With the rising consumer health consciousness and awareness regarding the benefits associated with the consumption of omega 3 fatty acids is driving the demand for omega 3 ingredients globally. The increasing prevalence of health complexities is also fueling the application for omega 3 ingredients. Omega 3 fatty acids reduce the risk of various heart problems. Furthermore, consumption of omega 3 fatty acids in any form controls the triglyceride and high blood pressure. Besides, growing consumer information regarding the positive effects of omega 3 on health is driving the market for omega 3 ingredients globally.

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In 2014, North America held the largest market share for omega 3 ingredients, accounting more than 50% of total market size. Increasing consumer awareness about the benefits associated with omega 3 ingredients is driving the market in this region. North America has always been a growing market for supplements due to high customer awareness and the usage of artificial proteins and fats. Usage of omega 3 ingredients in infant formulations is expected to witness positive growth during the forecast period due to growing consumer awareness of omega 3 health benefits for infants alongside new product launches of omega 3-enriched infant formulae by companies such as Nestle. Rising consumer health consciousness and increasing valuable information regarding the benefits of consuming omega 3 ingredients is fueling the market for omega 3 ingredients in North America.

In Europe, changing consumer preference for healthy diet is stimulating the demand for omega 3 ingredients in Europe. In addition, growing health consciousness and rising awareness is contributing to the growing popularity of food products that contain omega 3 in various forms. The growth in this region can be attributed to increasing health concerns coupled with the rising awareness of the health benefits of omega 3. A large number of omega 3 formulations are available in this region, especially in the form of supplements and functional food. The gradual flow of information regarding the benefits associated with consuming omega 3 such as reduced triglyceride and blood pressure is creating a positive impact on the market for omega 3 ingredients in Europe.

In Asia Pacific, rising standard of living is creating a positive impact on the demand for omega 3 ingredients in Asia Pacific. Growing consumer need to improve eating habits and well-being has increased the application area of omega 3 ingredients in various segments such as infant formulations, pharmaceuticals and supplements, and functional foods among others. Asia Pacific is the fastest growing region in the world with countries such as India and China being at the forefront. The consumers in this region are highly health conscious and have increased awareness levels, which makes it one of the most potent markets for omega 3 ingredients.

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Growing consumer awareness regarding the benefits associated with consuming omega 3 ingredients is driving the market for omega 3 ingredients across Rest of the World (RoW). Omega 3 consumption in any form protects the heart and controls the blood pressure. Furthermore, it also cures joint pain and stiffness. These ingredients in infant formulas play a crucial part in the neurological development of infants. Application of omega 3 as supplements, pharmaceuticals, and infant formula is expected to witness major growth due to the high consumption of artificial supplements and growing health consciousness.

Koninklijke DSM N.V. (Netherlands), BASF SE (Germany), Croda, Inc.(U.S.), NU-MEGA Ingredients Pty Ltd. (Australia), PronovaBioPharma ASA (Norway), Omega Protein Corporation (U.S.), FMC Corporation (U.S.), Copeinca ASA (Peru), Arista Industries, Inc. (U.S.) are some of the major players operating in the omega 3 ingredients market globally.

The market has been segmented as follows:
Global Omega 3 Ingredients Market by Application
Supplements and functional foods
Pharmaceuticals
Infant formula
Pet and Animal Feed
Others

Global Omega 3 Ingredients Market, by Geography: The market is broadly segmented on the basis of geography into:
North America
Europe
Asia Pacific
Middle East and Africa(MEA)
Latin America