Omega 3 Ingredients Market: Health Concerns on the Rise, Spur Demand for Nutritive Foods

As stated in the TMR research report, the competitive landscape of the global omega 3 ingredients market is likely to remain very intense till 2021. The market is highly concentrated in developed economies as compared to the emerging ones. Moreover, the leading entities in the market play a massive role in the development of the market, leaving minimal scope of growth for regional players or new entrants. The general threat from new entrants is additionally predicted to remain low over the coming years, a factor attributed to the tall entry barriers and the general lack of consumer awareness in untapped regions. The TMR report reveals that the global omega 3 ingredients market is expected to generate a revenue of US$7.49 bn by 2021. It is projected at a CAGR of 15.2% from 2015 to 2021 and is predicted to reach US$3.70 bn before the end of 2016.

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Increasing consumer health concerns and awareness regarding the benefits associated with the consumption of omega-3 fatty acids such as EPA and DHA are driving the demand from the global omega-3 ingredients market. Studies have proven that the consumption of omega-3 fatty acids prevents heart diseases, cancer, and arthritis. Cancers of the colon, prostrate, and breast can be prevented with the intake of omega-3 fatty acids. Further, omega-3 fatty acids play an important role in improving brain development in infants. All these factors are expected to drive the demand from the global omega-3 ingredients market.

However, the report points out that the low awareness about the types of fats and their benefits will hinder the growth of the global omega-3 ingredients market. Further, consumer perception about the taste and smell of omega-3 ingredients will also restrict the growth of the market. The report notes that the global omega-3 ingredients market has a huge opportunity to grow with improved technology and growing demand for omega-3 ingredients from Asia Pacific.

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On the basis of application, the report categorizes the global omega-3 ingredients market into infant formula, supplements and functional food, pharmaceuticals, pet and animal feed, and others. The report points out that the global omega-3 ingredients market will be driven by the demand from supplements and functional food application segment. The segment will dominate the market owing to growing awareness about the benefits of omega-3 enriched supplements and functional food. The report mentions that the infant formula application segment will register the fastest growth during the forecast horizon.

The report segments the global omega-3 ingredients market into five key regions: Asia Pacific, Europe, North America, Latin America, and Middle East and Africa. North America dominates the overall omega-3 ingredients market owing to high disposable income and better healthcare infrastructure. However, during the forecast horizon, Asia Pacific is expected to emerge as the fastest growing omega-3 ingredients market.

The current scenario of opportunities in the global omega 3 ingredients market is, unfortunately, largely restricted to developed economies. This means that a massive percentage of the global population is still far from being a consistent consumer base for this market. Factors for this include the extremely low rate of awareness among consumers in these regions and the absence of large scale manufacturing. Over time, these regions are expected to turn from low opportunity to high opportunity, due to the increasing urban populations, rising disposable incomes, and the growing interest shown by globally prominent players from the market.

The leading players in the global omega 3 ingredients market for 2014 – Croda International Plc., BASF SE, and Koninklijke DSM N.V. – generated a collective share of 48.2% based on value. According to a research report released by Transparency Market Research, a majority of the top players in the global omega 3 ingredients market have been present for a long time already and therefore own a rich history of business strategy adoptions as well as consolidation efforts, including mergers and acquisitions.

The information presented in this review is based on a Transparency Market Research report, titled, “Omega 3 Ingredients Market (Applications - Supplements and Functional Foods, Pharmaceuticals, Infant formula, and Pet and Animal Feed) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2021.”

Key segments of the Global Omega 3 Ingredients Market

Global Omega 3 Ingredients Market, by Application Type:

Supplements and Functional Foods
Pharmaceuticals
Infant formula
Pet and Animal Feed
Others

Global Omega 3 Ingredients Market, by Geography:
Europe
North America
Asia Pacific
Middle East and Africa
Latin America

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