Omega-3 Polyunsaturated Fatty Acids Market Overview:
Omega-3 Polyunsaturated Fatty Acids are ingredients that are used to improve the cardiovascular system and are a part of polyunsaturated fatty acids. These ingredients are available in marine sources and plant sources. The market for Omega 3 polyunsaturated fatty acids was valued at $2188.87 million and is estimated to reach by $3229.99 million by 2023 at an estimated CAGR of 6.7%. North America held the largest share in the market with a share of 46.3% followed by the APAC region. EPA has been the largest ingredient type in the Omega-3 polyunsaturated fatty acids holding a share value of 64.7%.
Omega-3 Polyunsaturated Fatty Acids Market Outlook:
Omega 3 polyunsaturated fatty acids are classified in to many types such as EPA, DHA, SDA, ALA and many more. EPA and DHA are derived from variety of fishes like salmon, mackerel, sardine and many more. Each of the omega-3 polyunsaturated fatty acids have their own benefits. But, DHA plays an important role over other fatty acids as it helps in brain development. EPA helps in relieving from depression and many more. There are various forms of availability of these fatty acids such as powder, liquids and capsules. The sources of Omega-3 polyunsaturated fatty acids are marine and plants. Marine animals such as salmon, mackerel, herring and sardines and plant sources like flaxseeds, chia seeds, walnuts, soybean oil, canola oil and many more are rich sources of omega-3 polyunsaturated fatty acids.
The cost for Omega-3 polyunsaturated fatty acids of 1000mg is around $128-$136.
Omega-3 Polyunsaturated Fatty Acids Market Growth drivers:
The increasing awareness in consumers on the benefits of omega-3 polyunsaturated fatty acids and nutrition is a major key driver for the omega-3 polyunsaturated fatty acids. The usage of omega-3 polyunsaturated fatty acids with omega-6 polyunsaturated fatty acids in medicine for treating cardiovascular diseases and cancer is also driving the omega-3 polyunsaturated fatty acids market. The continuous research and developments in the omega-3 polyunsaturated fatty acids will also fuel the growth of the market.
Omega-3 Polyunsaturated Fatty Acids Market Challenges:
The major challenge in the Omega-3 Polyunsaturated Fatty Acids market is the low production of fish oil and also the rancid nature of oils. The other challenge that is restricting the growth of the oils is the poor research and development activities in this market.
Omega-3 Polyunsaturated Fatty Acids Market Research Scope:
The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Superabsorbent Market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of plastics in the electric vehicle market, and their specific applications in different types of vehicles.
Omega-3 Polyunsaturated Fatty Acids (SAP) Market Report: Industry Coverage
Omega-3 Polyunsaturated Fatty Acids Market– By Type: Alpha-Linolenic Acid (ALA), Eicosapentaenoic Acid (ESA), Docosahexaenoic Acid, Stearidonic Acid (SDA), Heneicosapentaenoic Acid and Others
Omega-3 Polyunsaturated Fatty Acids Market– By Form: Oils, Capsules, Powder.
Omega-3 Polyunsaturated Fatty Acids Market– By Source: Salmon, Anchovy, Cod, Krill, Algae and others.
Omega-3 Polyunsaturated Fatty Acids Market– By Application: Dietary supplements, Food and Beverages industry, Pharmaceuticals industry.
The Superabsorbent Market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
- Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
- APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
- Middle East and Africa: Israel, South Africa, Saudi Arabia
Omega-3 Polyunsaturated Fatty Acids Market Key Players Perspective:
Some of the Key players in this market that have been studied for this report include: Cargill Incorporated, Golden Omega S.A, Croda International Plc, Omega Protein Corporation, FMC Corporation and many more.
Market Research and Market Trends of Omega-3 Polyunsaturated Fatty Acids Market
- Latitude™, a plant-based oil alternative for fish feed applications by Cargill Inc., has reduced its dependency on marine sources, thus by reducing environmental degradation. This product has longer omega-3 chains and is suitable for fish feed manufacturers. Canola oil is being used in this product as the major ingredient and has no effect on fish growth rates.
- Cooke Inc., a major company in the aquaculture has acquired Omega Protein Corporation, also a key player in the Omega-3 Polyunsaturated fatty acids for $500 million. This acquisition is to provide various nutritional foods and products, dietary supplements and many more from the marine sources.
- Royal DSM and Evonik industries have set up a new company called Veramaris V.O.F. to produce omega-3 fatty acids from marine algae that can be used for animal nutrition. This company was constructed in Blair, U.S.A and will start selling the oils from 2019.