(Health-NewsWire.Net, September 20, 2018 ) Industry Outlook and Trend Analysis
The Global Omega 3 Market was worth USD 2.26 billion in 2014 and is expected to reach approximately USD 7.78 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 14.74% during the forecast period. Omega-3 market is driven by components, for example, developing awareness in consumers about healthy & balanced eating regimen and its medical advantages. In addition, omega-3 supplements, for example, eicosapentaenoic corrosive (EPA) and DHA lessens the danger of breast, prostrate, and colon cancer. A satisfactory measure of EPA diminishes danger of depression and related medical issues. The regulatory barrier restricting the usage of omega-3 over certain range may limit the market development in the following years. Omega-3 acquired from plant origin, a great wellspring of alpha-linolenic corrosive (ALA) for vegetarians, gives an opportunity to omega-3 market development.
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Competitive Insights
The organizations in this market implement acquisition and expansion as their key methodologies to create enhanced products and diminish rivalry by catching extra share of the market. The leading players in the market are Cargill Foods India, Polaris, Pharma Marine AS, Croda International, GC Rieber Oils AS, Omega Protein, FMC Corporation and krill oil-Luhua Biomarine (Shandong) Co Ltd.
Type Outlook and Trend Analysis
On the basis of type, the market is segmented into DHA (docosahexaenoic acid), ALA (alpha-linolenic acid), and EPA (eicosapentaenoic acid). The overall market is led by DHA with more than three-fourth of revenue share in 2015, whereas the ALA and EPA combined represented one-fourth of the revenue share. ALA is the fastest developing type of omega-3 with an astounding CAGR.
Source Outlook and Trend Analysis
On the basis of source, the market is segmented into marine, nuts and seeds, vegetable oils, and soya & soya products. Fish and krill oils are two significant sources for omega-3. Fish oil is useful in aquaculture and nutraceuticals. Algal oil is one of the critical sources of omega-3 fatty acid ingredients. Algal oil is the real option for creation of omega-3; nonetheless, its generally high cost confines its foreseen market entrance into the food and dietary supplement.
Application Outlook and Trend Analysis
Omega-3 has an extensive variety of utilizations, for example, infant formula,, dietary supplement, pharmaceutical, fish feed, pet food, and food & beverage. Dietary supplement is a significant application and represented three-fifths of the worldwide omega-3 market volume in 2015. Pharmaceutical is foreseen to develop a tremendous rate in the upcoming years. The usage of omega-3 (regarding volume) in pharmaceutical and infant formula equation is assessed to increment at a higher CAGR amid the figure time frame.
Regional Outlook and Trend Analysis
Asia-Pacific is the leading region in the worldwide omega-3 market and is foreseen to be the primary inclination for new contestants because of the expanding end-use applications in the locale. Developing awareness of consumers with respect to the advantages of omega-3 has expanded as of late that has affected its interest for omega-3. Europe is the second most appealing business sector for new participants in the omega-3 industry, which is foreseen to develop at a significant pace in the following years.
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The Omega-3 Market is segmented as follows-
By Type: DHA (docosahexaenoic acid) ALA (alpha-linolenic acid) EPA (eicosapentaenoic acid)
By Source: Nuts and Seeds Walnut Pumpkin Seeds Others (Hazelnuts, Chia Seeds, Tahini) Soya and Soya Products Soya Milk Bean Curd Marine Fish Oil & Krill Oil Algal Oil Vegetable Oils Soybean Oil Canola Oil Others (Olive Oil, Flaxseed Oil)
By Application: Pet Food Fish Feed Pharmaceutical Infant Formula Dietary Supplement Food & Beverage
By Region North America U.S Canada Mexico Europe Germany France UK Italy Spain Rest of Europe Asia-Pacific Japan China Australia India South Korea Rest of Asia Pacific Rest of the World Brazil South Africa Saudi Arabia United Arab Emirates Others
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Some of the key questions answered by the report are: What was the market size in 2014 and forecast from 2015 to 2023? What will be the industry market growth from 2015 to 2023? What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast? What are the major segments leading the market growth and why? Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?
Qurate Business Intelligence
Nehal Chinoy
+919881074592
nehal@qurateresearch.com
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