The omega-3 market is projected to grow at a CAGR of 13.0% to reach USD 9.4 billion by 2026 from 4.0 billion in 2019. Rising consumer awareness regarding the health benefits of omega-3 fatty acids which include maintaining heart health, in addition to safeguarding against cancer and birth defects and offsetting symptoms of diabetes, arthritis, cognitive decline, depression, and several other conditions has significantly contributed to the growth of this market
The research report categorizes the Omega-3 Market to forecasts the revenues and analyses the trends in each of the following below-mentioned market segments.
By Type
• Docosahexaenoic acid (DHA)
• Eicosapentaenoic acid (EPA)
• Alpha-linolenic acid (ALA)
By Application,
• Functional food & beverages
• Pharmaceuticals
• Infant formula
• Pet food & feed
• Others
Omega-3 Market Dynamics
Drivers: Growing demand from Pharmaceutical Industry and Pet / Animal Nutrition products
Omega-3 is growing on account of growing product usage in the Active Pharmaceutical Ingredient (API), rising awareness regarding chronic diseases, and regulations favoring the usage of omega-3 in infant formulations. Increasing usage of omega-3 in pet nutrition and animal feed products is further expected to propel the market growth in the coming years.
Restraints: Lack of clarity among consumers
The market for omega-3 is facing hindrance in growth on account of the absence of official recommended doses which has created confusion in the minds of consumers. This is having a higher impact in developing countries where consumer awareness is low and healthcare infrastructure is not fully established.
Company Profiles and Competitive Intelligence in Omega-3 Market Research Report are:
The key players operating in the market are Cargill, BASF SE ,, Orkla Health, Croda International ,Lonza, KD Pharma, Corbion, GC Rieber, Epax , Pharma Marine AS, Aker Biomarine Antarctic AS, BioProcess Algae, LLC, Koninklijke DSM N.V.amongst others
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