Global Omega-3 for Food Application Market, By Type (Alpha-Linolenic Acid (ALA), Eicosapentaenoic Acid (EPA), Docosahexaenoic Acid (DHA) and Eicosapentaenoic Acid (EPA)+Docosahexaenoic Acid (DHA)), Source (Marine Based, Algae–Based and Plant-Based), Form (Oil and Powder), Applications (Functional Food, Confectionery and Chocolate Products, Sports Nutrition, Dietary Supplements, Infant Formula and Others), Function (Food Fortification, Bone and Joint Health, Skin Health, Hair Health, Nails Health and Others), Country (U.S., Canada, Mexico, Germany, U.K., Italy, France, Spain, Switzerland, Netherlands, Belgium, Russia, Denmark, Sweden, Poland, Turkey, Rest of Europe, Japan, China, South Korea, India, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Vietnam, New Zealand, Rest of Asia-Pacific, Brazil, Argentina and rest of South America, South Africa, Saudi Arabia, UAE, Oman, Qatar, Kuwait, and Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights: Global Omega-3 for Food Application Market
The omega-3 for food application market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR 9.9% in the forecast period of 2020 to 2028 and is expected to reach USD 3,110,392.96 thousand by 2028. The factors driving the growth of the market are the abundant availability of raw materials such as algae, fish oils and plant based sources, health benefits associated with the omega-3 consumption, changing lifestyle of the people around globe, the advancements in food technology and the high demand for fortified food products.
The factors which are restraining the growth of the market are high chances of contamination of heavy metals from fish sources, lack of clarity among consumers about the daily recommended intake, highly unstable prices of raw materials.
The abundant availability of raw materials for the omega-3 production is projected to boost the omega-3 for food application market growth.
Omega-3s are the polyunsaturated fatty acids that have the final double bond in the hydrocarbon chain between the third and fourth carbon atoms from the end of the molecule opposite that of the carboxyl group. Omega-3 fatty acids are a family of essential fatty acids that the body is unable to produce by itself. Omega-3 plays an important role in maintaining body functions and provides several health benefits to the eyes, cardiovascular health and others.
The omega-3 fatty acids play a major role in maintaining healthy health which is projected to drive the omega-3 for food application market growth. The growth of the omega-3 fatty acids from the fish which is the most effective source of omega-3 is projected to limit the omega-3 for food application market growth. Various advancements in the technology will boost the production capacity of the raw materials which can be the opportunity for the omega-3 manufacturers in the omega-3 for food application market. The complex processing of the omega-3 can act as a challenge for the omega-3 for food application market.
This omega-3 for food application market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Global Omega-3 for Food Application Market Scope and Market Size
The omega-3 for food application market is segmented into five notable segments which are based on the type, source, form, applications and function. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the omega-3 for food application market is segmented into alpha-linolenic acid (ALA), eicosapentaenoic acid (EPA), docosahexaenoic acid (DHA) and eicosapentaenoic acid (EPA)+docosahexaenoic acid (DHA). In 2021, eicosapentaenoic acid (EPA)+docosahexaenoic acid (DHA) segment has the largest market share owing to the factors such as the high number of health benefits associated with the EPA and DHA consumption due to which many manufacturers are using the combination of the EPA and DHA.
- On the basis of source, the omega-3 for food application market is segmented into marine based, algae–based and plant-based. In 2021, marine based segment has the largest market share owing to the factors such as the high efficiency of the fish and fish oils to produce omega-3.
- On the basis of form, the omega-3 for food application market is segmented into oil and powder. In 2021, oil segment has the largest market share owing to the factor such as the high applications of oil in the food & dietary supplement products such as in soft gels.
- On the basis of application, the omega-3 for food application market is segmented into functional food, confectionery and chocolate products, sports nutrition, dietary supplements, infant formula and others. In 2021, dietary supplements segment has the largest market share owing to the factors such as the increasing health conscious consumers all over the globe and increasing rate of omega-3 deficiencies in the consumers.
- On the basis of function, the omega-3 for food application market is segmented into food fortification, bone and joint health, skin health, hair health, nails health and others. In 2021, bone and joint health segment has the largest market share owing to the factor such as the high applications of omega-3 in the bone and join health with the increasing incidences of the osteoporosis in every age group.
Omega-3 for Food Application Market Country Level Analysis
The omega-3 for food application market is analysed and market size information is provided by the country, type, source, form, applications and function as referenced above.
The countries covered in global omega-3 for food application market are U.S., Canada, Mexico, Germany, U.K., Italy, France, Spain, Switzerland, Netherlands, Belgium, Russia, Denmark, Sweden, Poland, Turkey, Rest of Europe, Japan, China, South Korea, India, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Vietnam, New Zealand, Rest of Asia-Pacific, Brazil, Argentina and rest of South America, South Africa, Saudi Arabia, UAE, Oman, Qatar, Kuwait, and Rest of Middle East and Africa.
The U.S. is dominating the market due to the abundant availability of raw materials such as algae, fish oils and plant based sources and health benefits associated with the omega-3 consumption. In Europe, Germany is dominating the market due to changing lifestyle of the people in the country and the advancements in food technology and the high demand for fortified food products is also augmenting the market growth. China is expected to grow with the most promising growth rate in the Asia-Pacific omega-3 for food application market in the forecast period of 2021 to 2028 as the major industrialists are focusing to develop omega-3 products for food application for confectioneries, bakery and dietary supplements.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Rising Demand of Omega-3 for Food Application
The omega-3 for food application market also provides you with detailed market analysis for every country growth in industry with sales, components sales, impact of technological development in omega-3 for food application and changes in regulatory scenarios with their support for the omega-3 for food application market. The data is available for historic period 2010 to 2019.
Competitive Landscape and Omega-3 for Food Application Market Share Analysis
The omega-3 for food application market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Asia-Pacific presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to omega-3 for food application market.
Some of the major players operating in the omega-3 for food application market are Solutex, Algaecytes, Cellana Inc., HUTAI Biopharm Resource Co. Ltd, DSM, BASF SE, GOLDEN OMEGA, Croda International Plc, AlaskOmega, KinOmega Biopharm Inc., Aker BioMarine, Pharma Marine AS, GC Rieber VivoMega AS, Sanmark LLC, Arjuna Natural Pvt Ltd, ConnOils LLC, Kingdomway Nutrition, Inc., Novosana, ADM, Polaris Inc. and Biosearch life among others.Many product developments are also initiated by the companies worldwide which are also accelerating the growth of omega-3 for food application market.
For instance,
- In March 2017, DSM has introduced MEG-3 ultra which is an omega-3 fatty acid in the DSM’s nutritional lipids portfolio. This is EPA and DHA combinations containing up to 85% omega-3 from clean and wild ocean fish oil. This has helped the company to broaden its product portfolio in the market.
Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for omega-3 for food application through expanded range of size.
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