Press release
Croda, BASF, DSM Profied in EPA/DHA (Omega 3) Ingredients Market Forecast 2018-2024 | Top Players - Omega Protein, COPEINCA, Epax AS, Arista Industries
EPA/DHA (Omega 3) Ingredients Market
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Competitive Insights
1. BASF
2. DSM
3. NU-MEGA INGREDIENTS LIMITED
4. Omega Protein
5. Pronova BioPharma ASA
6. COPEINCA
7. Epax AS
8. Arista Industries
Increasing consumer consciousness for adopting healthy lifestyle and to avoid hefty medical bills for treatment should fuel EPA/DHA ingredients market growth in dietary supplements applications. Favorable regulations by FDA and EFSA towards health claims for consumption of fortified foods which helps lower cardiovascular risks should favor product demand. Lack of recommended dietary intake may challenge industry growth.
Pharmaceutical applications may witness highest gains at above 5.5%. It is used to reduce cholesterol levels in the body which may further fuel product demand. Increase in research spending for product innovation to improve effectiveness may create new opportunities in the industry.
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China omega 3 market size from infant formulas may register over USD 50 million at the end of forecast period. Intake of ingredients promotes eyes, brain and nerve development, which should favor industry growth. EPA/DHA ingredients are used as an in the preparation of infant formula which results in health benefits. Some of the companies engaged in infant formula production are investing in research to expand product portfolio.
Peruvian anchovy/sardine is key raw material sources used for its manufacturing process. Restriction on fishing of anchovy has caused decline in feedstock availability for product manufacturing with rise in overall oil price. This factor may create raw materials supply gap and affect EPA/DHA ingredients market price trend.
Europe omega 3 ingredients market size from functional foods application is set to exceed USD 150 million by 2022. Rise in per-capita disposable income and growing health concerns should favor regional growth. North America pharmaceutical applications expects gains close to 6%. Change in consumer lifestyle to avoid high medical bills may stimulate regional growth.
China EPA/DHA ingredients demand from pet food applications expects 4% gains. Increase in pet population and rise in disposable income levels should favor product applications scope in pet food industry.
Global EPA/DHA ingredients market share is moderately consolidated with BASF, DSM, and Croda being the key companies. Other prominent participants include Epax SA, Omega Protein, Arista Industries, Copeinca ASA, and Marine ingredients. The industry is witnessing merger & acquisitions and tie-ups to expand presence in different regions and enhance product portfolio.
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