Omega 3 Ingredients Market: Outlook Remains Bright Attested by Regulatory Advocacy and Evident Health Benefits
Future shines bright for the omega 3 industry, after the EPA and DHA made first cut in obtaining the regulatory approval. TMR’s research finds that the demand for omega 3 foods is surging at an unprecedented pace, having garnered significant consumer appeal since 2014, and global sales of omega 3 ingredients were upward of US$ 4,500 Mn in 2018. Growing consumer inclination towards improving their immunity and overall wellbeing continues to be a broader influential aspect, however, slower regulatory approval is expected to stymie growth to a significant extent.
Omega 3 Ingredients – Newfound Appreciation of Scientific Evidence on Health Benefits drive Demand
The paradigm shift towards healthy food consumption, driven by rising chronic disease prevalence led by poor dietary habits. These technology-induced ingredients continue to gain popularity as effective food quality enhancers, thereby attracting the widening health-conscious demographic.
A slew of aspects including the emergence of new combination products, and the newfound appreciation of scientific evidence for omega 3 ingredients among consumers and healthcare professionals, has meant that the prebiotic ingredients market will witness sheer proliferation in the upcoming years. Although development and sales of omega 3 ingredients positioned specifically for dietary supplements lag behind variants such as amino acids, studies that back benefits of fatty acids for athletes are likely to advocate adoption. The study finds that demand for Eicosapentaenoic acid (EPA) and Docosahexaenoic acid (DHA) remains strong in omega 3 oil and seafood industry.
Omega 3 ingredients are becoming an indispensable part of the dietary supplements pyramid. While the growing consumer awareness continues to reap profits in the omega 3 ingredients market, suppliers are formulating strategies that highlight the preventive role of polyunsaturated fatty acids (PUFAs) in thwarting prevalence of chronic diseases. Numerous government initiatives to promote adequate intake of omega 3 ingredients are complementing the marketing efforts of stakeholders in the omega 3 ingredients market.
Omega 3 Ingredients Market – Adequacy of Sources Continue to Keep Supply Efficiency Intact
The focus of suppliers on maintaining a steady product supply continues to be a recuperative influencer of demand-side trends in the omega 3 ingredients market. The fish oil derived omega 3 ingredients continue to govern sales in the landscape – accounting for 90% sales approximately according to our research. Whereas, plant-derived omega 3 ingredients are likely to take the center stage abreast remarkable growth in the vegan trend, which consequentially propels the demand for vegan supplements.
Studies have attested the effectiveness of fish oil in alleviating symptoms of ADHD in children while improving their cognitive skills. Additionally, the two most popular omega 3 ingredients, namely, Eicosapentaenoic acid (EPA) and Docosahexaenoic acid (DHA) sourced from fish oil are linked with improving cognitive functions in infants and aging demographic alike. Such favorable researches continue to trigger higher adoption of omega 3 ingredients among the rapidly-growing health-conscious consumers.
Omega 3 Ingredients - Attractiveness of Developed Markets Endures
Consumers in developed markets have already embraced the health & wellness trends, and relevant consumption practices have been on an upsurge recently. As awareness of health benefits of omega 3 ingredients picks pace, such as consumption of PUFAs in regular diet, prospects of the omega 3 ingredients market in these economies remain bullish. Economic vigor of consumers backed by their willingness to spend more on health supplements, coupled with the advocacy of evident benefits associated with fish oil-derived omega 3 ingredients among leading regional regulators, continue to favor sales of omega 3 ingredients in these regions.
Global omega 3 ingredients market is primarily characterized by essence of a large number of multinational and regional companies. Multinational players with their extensive product portfolios hold significant share in the omega 3 ingredients market, while they aim in reaping profits by targeting of the large pool of health-conscious consumers in Europe and North America. The leverage of innovative technologies, such as PureMax, to strip impurities in oil and ensure the provision of quality products to consumers, remain key growth strategies of the omega 3 ingredients industry leaders.
The companies operating in the omega 3 ingredients market, as profiled in the study, include Marine Ingredients, LLC., Omega Protein Corporation, Copeinca ASA, Cargill Incorporated, GC Rieber Oils AS, POLARIS Nutritional Lipids, Croda International plc, Luhua Biomarine (Shandong) Co., Ltd, Koninklijke DSM N.V., Denomega Nutritional Oils, and NU-MEGA Ingredients Pty Ltd. (Clover Corporation).