The Global Eicosapentaenoic Acid (EPA) Market is experiencing remarkable growth, driven by the numerous positive health benefits of this Omega-3 fatty acid. EPA is renowned for promoting heart health, reducing inflammation, and supporting brain function. Its potential to prevent chronic diseases such as diabetes and certain cancers enhances its appeal among consumers. With increasing awareness of the importance of a balanced diet, the demand for EPA supplements and fortified food products is rising, promising a healthier future for people worldwide.
According to Data Bridge Market Research, the Global Eicosapentaenoic Acid Market is expected to reach a value of USD 1.6 billion in 2021 and is expected to reach a value of USD 3.82 billion by 2029, at a CAGR of 11.50% during the forecast period of 2022-2029.
"Increasing health consciousness surge market demand"
The rising health consciousness among consumers fosters a greater understanding of the positive impact of Omega-3 fatty acid, especially EPA, on overall well-being. People increasingly seek products enriched with EPA to support heart health, brain function, and inflammation reduction. This awareness drives the demand for EPA supplements and the inclusion of EPA in various fortified food and beverage options. Manufacturers are capitalizing on this trend by offering a wide range of EPA-enriched products catering to the health-conscious consumer market.
What restraints the growth of the global eicosapentaenoic acid market?
"Price sensitivity can impede the market growth”
Price sensitivity is a significant restraint in the EPA market due to the higher cost of EPA supplements and fortified products than regular dietary options. Price-conscious consumers may perceive these products as expensive and choose more affordable alternatives. The premium price of EPA-enriched products can limit their accessibility to a broader consumer base, potentially hindering market growth. The challenge lies in balancing the production costs of EPA products with consumers' willingness to pay for the health benefits of EPA consumption.
Segmentation: Global Eicosapentaenoic Acid Market
The global eicosapentaenoic acid market is segmented on the basis of form, application and source.
- On the basis of form, the eicosapentaenoic acid market is segmented into triglycerides and ethyl esters
- On the basis of application, the eicosapentaenoic acid market is segmented into infant formulae, dietary supplements, fortified food and beverages, pharmaceuticals, and others
- On the basis of source, the eicosapentaenoic acid market is segmented into anchovy/sardine oil, high concentrates, medium concentrates, low concentrates, algae oil, tuna oil, cod liver oil, salmon oil, krill oil, menhaden oil.
Regional Insights: North America dominates the Global Eicosapentaenoic Acid Market
North America's dominance in the eicosapentaenoic acid market is attributed to several factors. The region experiences a higher prevalence of chronic diseases, leading to an increased demand for health supplements such as EPA, known for its potential to support cardiovascular health and reduce inflammation. Additionally, advancements in medication and better health awareness have resulted in a growing consumer base seeking EPA supplements as a preventive measure for various health conditions, contributing to the market's growth in North America.
Europe's anticipated eicosapentaenoic acid (EPA) market growth from 2022 to 2029 can be attributed to two key factors. The region's growing geriatric population drives demand for health supplements, including EPA, to support heart and cognitive health. Additionally, the rising usage of EPA in treating obesity, owing to its potential in reducing inflammation and promoting weight management, further propels the European market's expansion.
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Recent Developments in Global Eicosapentaenoic Acid Market
- In 2021, the KD Pharma Group will introduce Alga3, a vegan, sustainable omega-3 supplement. Omega-3 concentrates in a variety of forms are possible thanks to KD Nutra's cutting-edge technology and flexible production methods. Since there is an Alga3TM plant-based alternative to every kd-pür fish oil, the companies can adjust the EPA and DHA ratio to suit the needs of their customers.
- In 2021, Polaris introduced Omegavie DHA 800 Sensory Qualitysilver 5 algae, an oil derived from microalgae (Schizochytrium sp.) that is abundant in vitamins, proteins, pigments, and enzymes. The component offered a sustainable source of plant polyunsaturated fatty acids (PUFAs).
- In 2020, DSM unveiled life'sDHASF55-O200DS, a novel plant-based and high-quality docosahexaenoic acid (DHA) oil for maternal and early life nutrition solutions. According to DSM, the algae-derived ingredient contains at least 550 mg/g of natural triglyceride DHA, which is more potent than other sources.
The Prominent Key Players Operating in the Global Eicosapentaenoic Acid Market Include:
- DSM (Netherlands)
- BASF SE (Germany)
- Lonza Group (Switzerland)
- Glanbia Plc (Ireland)
- ADM (U.S.)
- Farbest Brands (U.S.)
- SternVitamin GmbH & Co. KG (Germany)
- Adisseo (France)
- BTSA Biotechnologias Aplicadas S.L. (Spain)
- Rabar Pty Ltd (Australia)
- Orkla Health (Norway)
- Epax (norway)
- BioProcess Algae LLC (U.S.)
- Croda International plc (U.K.)
Above are the key players covered in the report, to know about more and exhaustive list of global eicosapentaenoic acid market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Eicosapentaenoic Acid Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by dbmr research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, global vs regional and vendor share analysis. Please request analyst call in case of further inquiry.
