EPA/DHA (Omega 3) Ingredients Industry is expected to register 6.5% CAGR between 2023 and 2032, propelled by rising sales of dietary supplements.
Selbyville, Delaware, Nov. 30, 2022 (GLOBE NEWSWIRE) -- As per the report published by Global Market Insights Inc., the Global EPA/DHA (Omega 3) Ingredients Market was estimated at USD 2.5 billion in 2022 and is expected to surpass a valuation of $5 billion by 2032, progressing at a CAGR of 6.5% from 2023 to 2032. The report provides a detailed analysis of top winning strategies, drivers & opportunities, competitive scenario, wavering market trends, market size, statistics & estimations, and major investment pockets.
Increasing consumer awareness and interest in food products fortified with omega-3 fatty acids will positively affect the EPA/DHA (Omega-3) ingredients industry dynamics. A wide variety of food products containing EPA and DHA are available to consumers in options of different flavors and edible forms including confectioneries, gummies, chewable, and sachets.
Favorable regulations associated with the nutritional claims of omega-3 in food products will complement the industry outlook. Several regulatory bodies monitor dietary supplements and other food products that claim to offer nutritional benefits to consumers. For instance, the European Commission, and European Food Safety Association (EFSA) authorize food products containing omega-3 before they are marketed or labeled, thus validating their health claims.
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Widespread awareness regarding the benefits of EPA omega-3 fatty acids
EPA/DHA (Omega 3) ingredients market share from EPA segment is expected to record more than 7.5% CAGR between 2023-2032. Growing consumer awareness regarding the health benefits of including omega-3 in diets is expected to fuel the demand for food products containing EPA. Eicosapentaenoic acid or EPA is widely incorporated in different food and beverages along with dietary supplements due to its ability to help treat mood disorders and depression. Various studies have found that adequate consumption of EPA can help lower inflammation and in the treatment of psoriasis.
Key reasons for EPA/DHA (Omega 3) ingredients market growth:
Asia Pacific: Dietary supplements industry growth
Europe: Supporting regulations regarding nutritional claims of omega-3 in food products
Increasing consumer adoption for omega 3 products
Rising importance of omega 3 ingredients in pet and animal feed
Rising incidences of arthritis in pets to boost the sale of salmon oil pet supplements
In terms of revenue share, salmon oils source segment is estimated to account for more than USD 120 million of the EPA/DHA (Omega 3) ingredients market share by the end of 2032. Salmon oil is a critical ingredient used in pet foods and supplements due to its anti-inflammatory properties. With increasing incidences of arthritis in domesticated animals, pet parents are inclined towards supplements capable of boosting the brain functions of young pets.
Expanding functional food sector to complement EPA/DHA (Omega 3) ingredients industry outlook
EPA/DHA (Omega 3) ingredients industry share from functional foods application was valued at more than 310 million in 2022. The emergence of the COVID-19 pandemic has accelerated consumer interest in functional foods. Owing to changing consumer preferences and increasing focus on health and well-being, functional foods containing omega-3 fatty acids have picked up pace. Food and beverage brands are increasingly promoting fortified products featuring omega-3 to patients with coronary heart disease, mental health concerns, and eye problems. The ongoing expansion in the functional food sector, which was estimated at over USD 280 billion in 2021, will proliferate product demand.
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High demand for pet food supplements across North America
North America EPA/DHA (Omega 3) ingredients market is projected to expand at over 6% CAGR from 2023-2032. Increasing demand for pet food, functional foods, and dietary supplements will fuel the need for these ingredients. The U.S. dog and cat food exports witnessed record high growth in 2021 reaching over USD 2 billion in value, which was 20% higher than 2020 exports. Favorable trade agreements such as the U.S.-Mexico-Canada Agreement (USMCA) will endorse pet food production in the U.S. The region has a solid footprint of major manufacturers of omega-3 ingredients engaging in product innovation and development.
Partial chapters of report table of contents (TOC):
Chapter 4 Competitive Landscape, 2022
4.2 Company Market Share Analysis, 2022
4.2.1 North America market share, 2022
4.2.2 Europe market share, 2022
4.2.3 Asia Pacific market share, 2022
4.2.4 LATAM market share, 2022
4.2.5 Middle East & Africa market share, 2022
4.3 Competitive analysis of major market players
4.4 Vendor matrix
4.5 Top player overview
4.6 Strategy dashboard
4.6.1 Strategy dashboard
Chapter 5 EPA/DHA (Omega 3) Ingredients Market, By Product
5.1 Key product trends
5.2.1 Global EPA market, 2018 – 2032
5.2.2 Global EPA market, by region, 2018 - 2032, (Kilo Tons) (USD Million)
5.3.1 Global EPA market, 2018 – 2032
5.3.2 Global DHA market, by region, 2018 - 2032, (Kilo Tons) (USD Million)
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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