Omega 3 ingredients market: Demand spurred by growing health concerns: Industry outlook 2015-2022
Publisher : Fractovia | Published Date : 2017-01-30Request Sample
Current trends of high protein diets coupled with increasing preference for healthy food habits will surge the growth of omega 3 ingredients market. Growing popularity of omega 3 ingredients with its positive impact on cardiovascular health, coronary heath diseases & overall fitness is propelling omega 3 ingredients industry size. According to Global Market Insights, Inc., “Omega 3 ingredients market size is estimated to grow at a CAGR of 11% over the period of 2015-2022.” Increasing occurrence of heart related problems and other health issues are fueling the demand for omega 3 ingredients across the food sector. The omega 3 ingredients market share is anticipated to surpass USD 3 billion by 2022.
Growing awareness regarding health benefits associated with consuming omega 3 enriched diets is driving omega 3 ingredients industry share. Moreover, omega 3 also plays a crucial role in overall health development of infants. The American Dietic Association has suggested minimum intake of 500 milligrams per day for health benefits.
Europe EPA/DHA ingredients (Omega 3) market size, by application, 2014 & 2022 (USD Million)
Supplements and functional foods are expected to be the leading application segment
Dietary Supplements, Functional Foods, Pharmaceuticals, Pet & Animal Feed, Infant Formulas are the key applications driving the omega 3 ingredients industry share. Dietary supplements application was over 1 billion in 2014, owing to rise in consumption of sport nutrition products. Various dietary supplements products helping in controlling cardiovascular risks by providing vital nutrition will stimulate omega 3 ingredients market size. EPA/DHA ingredients industry share in dietary supplements application is projected to surpass 95 kilo tons in the coming five years. Omega 3 ingredients market in pharmaceutical application is anticipated to surpass USD 500 million in coming five years. EPA/DHA ingredients are beneficial in reducing LDL cholesterol levels which will generate heavy demand for omega 3 ingredients in pharmaceutical applications.
High concentrates source is estimated to be a major revenue contributor in omega 3 ingredients market
Based on source, omega 3 ingredients are majorly derived from Anchovy/Sardine, Cod Liver Oil, Salmon Oil, Algae Oil, High Concentrates, Medium Concentrates and Low Concentrates. Omega 3 ingredients derived from sardine will generate a heavy demand of over 60 kilo tons by 2022. High concentrates omega 3 ingredients market share is a major revenue pocket, owing to its high price and increased applications in functional food and pharmaceutical industries. Furthermore, algae oil source in omega 3 ingredients market is anticipated to witness an annual growth rate of 8% over the period of 2015-2022.
Global omega 3 ingredients market is projected to grow at 5.4% CAGR in terms of volume over 2015-2022
North America omega 3 ingredients market, with growth imminent from U.S. is anticipated to exceed a demand of 50 kilo tons by 2022. Increasing interest towards maintaining a healthy diet and rising demand for dietary supplements should propel the omega 3 ingredients market regional outlook.
Europe, led by France and Germany omega 3 ingredient market, is anticipated to witness an annual growth rate of 3.5% over 2015-2022. Europe functional food market covered over 28% of the overall share in 2014.
Asia Pacific omega 3 ingredient market size is expected to grow significantly, owing to increase in consumer spending, ageing population, and the demand across dietary supplements application. China and Japan omega 3 ingredients market led the regional growth of APAC, with China dominating the dietary supplement application and is forecast to record a highest CAGR at 6.1% over the period of 2015-2022.
Omega 3 ingredients market share is consolidated with top four players catering for 50% of the overall industry demand. Key player includes Omega Protein, DSM, Croda International, BioProcess Algae, ProNova Solutions, Lonza Group and Epax Omega-3 Concentrates.
