Middle East and Africa Omega-3 Ingredients for Pharmaceuticals Market, By Source (Marine and Plant), Type (Docosahexaenoic Acid (DHA), Eicosapentaenoic Acid (EPA), Alpha-Linolenic Acid (ALA)), Forms (Liquid and Dry), Therapeutic Areas (Cardiovascular Diseases, Autoimmune Diseases, Bone & Joint Disorders, Neurological Disorders, Ophthalmic Disorders, Skin Health, Cancer, Others), Population Type (Adults and Children), Distribution Channel (Direct, Indirect) – Industry Trends and Forecast to 2030.
Middle East and Africa Omega-3 Ingredients for Pharmaceuticals Market Analysis and Size
Growing consumer health awareness about the benefits related with the consumption of omega-3 fatty acids such as DHA and EPA are the primary factors enhancing the growth of the market. Extensive scientific research and media exposure, and increasing health and nutritional awareness among African consumers, have led to a major rise in omega-3 fish oil supplementation during the last five years. Increasing lifestyle and age-related diseases in Middle East and Africa is consequently improving the growth of the supplements & functional foods segment with a revenue share of 52%.
Data Bridge Market Research analyses a growth rate in the omega-3 ingredients for pharmaceuticals market in the forecast period 2023-2030. The expected CAGR of omega-3 ingredients for pharmaceuticals market is tend to be around 8.9% in the mentioned forecast period. The market is valued at USD 13.56 million in 2022, and it would grow upto USD 26.82 million by 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Middle East and Africa Omega-3 Ingredients for Pharmaceuticals Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Source (Marine and Plant), Type (Docosahexaenoic Acid (DHA), Eicosapentaenoic Acid (EPA), Alpha-Linolenic Acid (ALA)), Forms (Liquid and Dry), Therapeutic Areas (Cardiovascular Diseases, Autoimmune Diseases, Bone & Joint Disorders, Neurological Disorders, Ophthalmic Disorders, Skin Health, Cancer, Others), Population Type (Adults and Children), Distribution Channel (Direct, Indirect)
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Countries Covered
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Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA)
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Market Players Covered
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Avestia Pharma (India), Novasep (France), AbbVie Inc. (U.S.), KD Pharma Group (Japan), BASF SE (Germany), Corbion (Netherlands), DSM (Netherlands), AstraZeneca (U.K.), GSK plc. (U.K.), Fresenius Kabi AG (Germany), Croda International Plc (U.S.), AMARIN CORPORATION (Ireland), ANI Pharmaceuticals, Inc. (U.S.), Epax (Norway), Strides Pharma Science Limited (India), Pharma Marine AS (Norway), KinOmega Biopharm Inc. (China), Camber Pharmaceuticals, Inc. (U.S.)
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Market Opportunities
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Market Definition
Omega 3 ingredients are naturally occurring polyunsaturated fatty acids and nutrients that are essential for optimal human health. There are three kinds of omega 3 ingredients, namely, eicosapentaenoic acid (EPA), alpha-linoleic acid (ALA), and docosahexaenoic acid (DHA). EPA and DHA are mostly extracted from fish and ALA is mainly extracted from plants sources such as seeds and nuts.
Middle East and Africa Omega-3 Ingredients for Pharmaceuticals Market Dynamics
Drivers
- Increasing Self-sufficiency in Domestic Meat or Poultry Production
During the last few decades, the demand for poultry across countries, such as the Kingdom of Saudi Arabia, has increased promptly which eventually led the small, medium, and large domestic chicken meat producers to have close consultations and collaborations with the Saudi Ministry of Environment, Water, and Agriculture (MEWA) to surge chicken and meat production in the upcoming years and decrease the country’s heavy dependence on imported chicken meat. The increasing preference for chicken having higher weight and meat maintaining its flavour, tenderness, and shelf life have led to increased imports of omega-3 associated feeds into the region. Thus, this factor increases the growth of the market.
- Rising Technological Advancements
Technological advancements and product innovation is anticipated to boost the market for omega 3 ingredients during the forecast period. For instance, DSM introduced new 3C technology to reinvigorate omega 3 supplements category on October 6, 2016. Furthermore, on June 9, 2015, Croda introduced Incromega DHA and approved by European Food Safety Authority (EFSA). Additionally, Royal DSM collaborated with Evonik to manufacture omega 3 fatty acid products from natural marine algae for animal nutrition on March 8, 2017. This innovation will allow the production of omega 3 fatty acids for animal nutrition without using fish oil. This factor improves the market growth.
Opportunities
- Increasing Internet Usage in Promoting Health Awareness
Growing consumer awareness associated with the health benefits from the consumption of omega-3 supplements in developed and developing countries is a huge opportunity for the market. Dietary supplements are the ultimate choice for health-conscious consumers. To meet their recommended dietary quotas, people of several age groups consume dietary supplements. Omega-3 is used in several dietary supplements and is becoming extremely popular among consumers. The high indulgence of western lifestyle has led to an increase in the rate of consumption of dietary supplements across several developing countries. Thus, this boost the market growth.
- Rising Research Activities
Numerous research studies have developed a link between consumption of fatty fish and lowering of coronary heart diseases. For instance, fish oils are widely used as a supplement to balance the required dietary intake of eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA). Furthermore, fish oil is normally recommended as a supplement product for people who suffer from myocardial infarction by the American Heart Association, World Health Organization (WHO), the National Heart Foundation of Australia and National Health and Medical Research Council (NHMRC). Thus, this factor helps to create much opportunities for the growth of the market.
Restraints/Challenges
- Side Effects of omega-3 ingredients
There are various side-effects associated with the omega-3 ingredients for pharmaceuticals. Effects such as burping, diarrhea, heartburn, joint pain, stomach pain or discomfort, vomiting, constipation, nausea. Thus, these adverse effects affect the growth rate by decreasing the adoption of omega-3. This impedes the market growth.
- Increasing Negative Consumer Perception About omega-3 ingredients
Negative consumer perception associated with the smell and taste of omega-3 ingredients is also anticipated to limit the growth of the market. These unstable fatty acids can damage through enzymatic or chemical oxidation to form compounds that give foods a fishy smell. Additionally, fresh fish oil has no fishy taste or smell, just like fresh fish. People feel hesitant to adopt for omega-3 ingredients. Thus, this hampers the market growth.
This omega-3 ingredients for pharmaceuticals market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the omega-3 ingredients for pharmaceuticals market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Development
- In 2021, Omega-3 related supplier GC Rieber VivoMega announced its plans to enhance production facilities and storage tanks to accommodate more ingredients in the upcoming years.
- In 2021, KD Pharma Group introduced Alga3, a sustainable, vegan omega-3 solution. KD Nutra's superior technology and production flexibility enable for a huge range of omega-3 concentrates. The company can personalize the EPA and DHA ratio on customer needs, and for any kd-pür fish oil, there is a matching Alga3 plant-based solution.
Middle East and Africa Omega-3 Ingredients for Pharmaceuticals Market Scope
The omega-3 ingredients for pharmaceuticals market is segmented on the basis of source, type, forms, therapeutic areas, population type, and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Source
- Marine
- Plant
Type
- Docosahexaenoic Acid (DHA)
- Eicosapentaenoic Acid (EPA)
- Alpha-Linolenic Acid (ALA)
Forms
- Liquid
- Dry
Therapeutic Areas
- Cardiovascular Diseases
- Autoimmune Diseases
- Bone & Joint Disorders
- Neurological Disorders
- Ophthalmic Disorders
- Skin Health
- Cancer
- Others
Population Type
- Adults
- Children
Distribution Channel
- Direct
- Indirect
Omega-3 Ingredients for Pharmaceuticals Market Regional Analysis/Insights
The omega-3 ingredients for pharmaceuticals market is analyzed and market size insights and trends are provided by source, type, forms, therapeutic areas, population type, and distribution channel as referenced above.
The major countries covered in the omega-3 ingredients for pharmaceuticals market report are Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America has been witnessing a positive growth for Omega-3 ingredients for pharmaceuticals market throughout the forecasted period because of growing usage of pharmaceutical products that contains omega-3 ingredients for prevention of cardiovascular disease. The increasing demand for healthy food in North America because of the growing awareness increased foodborne diseases and increasing food industry is anticipated to drive the growth of this Middle East and Africa market during the forecast period.
South America dominates the market because of the growing rate of expansion, especially by international players, enabling them to increase domestic production capabilities. Also, the growing demand of functional and supplements food particularly from the marine segment combined with the rising awareness associated with the benefits of the omega-3 is enhancing the market growth.
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. Also, the presence and availability of Middle East and Africa brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Middle East and Africa Omega-3 Ingredients for Pharmaceuticals Market Share Analysis
The omega-3 ingredients for pharmaceuticals 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, Middle East and Africa presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to omega-3 ingredients for pharmaceuticals market
Key players operating in the omega-3 ingredients for pharmaceuticals market include:
- Avestia Pharma (India)
- Novasep (France)
- AbbVie Inc. (U.S.)
- KD Pharma Group (Japan)
- BASF SE (Germany)
- Corbion (Netherlands)
- DSM (Netherlands)
- AstraZeneca (U.K.)
- GSK plc. (U.K.)
- Fresenius Kabi AG (Germany)
- Croda International Plc (U.S.)
- AMARIN CORPORATION (Ireland)
- ANI Pharmaceuticals, Inc. (U.S.)
- Epax (Norway)
- Strides Pharma Science Limited (India)
- Pharma Marine AS (Norway)
- KinOmega Biopharm Inc. (China)
- Camber Pharmaceuticals, Inc. (U.S.)
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