Omega 3 Ingredients Market Competitive Analysis with Leading Market Players - Koninklijke DSM NV, BASF SE, Croda International Plc., NU-MEGA Ingredients Pvt. Ltd., Pronova BioPharma ASA, Omega Protein Corporation, and Ocean Nutrition Canada Limited, among
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Docosahexaenoic Acid (DHA) products accounted for the dominant segment in omega 3 ingredients market in 2016, according to Coherent Market Insights Analysis. EPA/DHA consumption is gaining traction over alpha linoleic acid (AHA) due to certain health benefits such as stabilizing blood pressure, reducing bad cholesterol, and coronary heart diseases. This in turn, is expected to drive growth for the omega 3 ingredients market in the forecast period.
Omega 3 fatty acids are basically extracted from fish, which includes fish oil extraction followed by refining of fish oil. Food industry is the largest user of the omega 3 polyunsaturated fatty acids, which are used to obtain omega 3 rich food products and in turn is expected to boost the market for omega 3 fatty acids during the forecast period. However, with growing demand for organic ingredients in food products, market players are focusing on developing more digestible triglyceride concentrates and natural ingredients.
Europe, followed by North America, and Asia Pacific, respectively accounted for major revenue shares in the global omega 3 ingredients market in 2016 and the trend is projected to remain the same over the forecast period. In 2016, North America held a market share of 28.1%, followed by Europe’s share of 27.6% in the omega 3 ingredients market. The growing demand for healthy food in North America due to growing awareness increased foodborne diseases and growing food industry is expected to drive the growth of this global market over the forecast period.
A survey conducted by National Center for Complementary and Integrative Health in the United States, concludes that fish oil was the most common natural supplement product used by over 8 million adults in the United States in 2012, than in 2007.
Multinational players need to tap into the potential addressable market in emerging regions with the help of geographical expansion
Major players in the global Omega 3 Ingredients market include Koninklijke DSM NV, BASF SE, Croda International Plc., NU-MEGA Ingredients Pvt. Ltd., Pronova BioPharma ASA, Omega Protein Corporation, and Ocean Nutrition Canada Limited, among others.
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