Omega-3 for Food Application Market growing with a CAGR 9.9%,Trends

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.

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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.

Key Players Analysis:

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.

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 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.

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