The Report titled “Omega-3 Market by Type, Source, Application” has been compiled to provide an overview of omega-3 fatty acids market on the basis of various factors including its type, application domain and source from which it is obtained.
Polyunsaturated fatty acids which at the 3rd carbon atom from the end of carbon chain have double bond are called Omega-3 fatty acids. The fatty acids contain two ends, at the beginning of the chain is carboxylic acid (-COOH), hence “alpha” and at the tail is methyl (-CH3), hence “omega”. The name of the fatty acids is determined by the location of double bond, which is done counting from methyl end. Human physiology is involved with three main types of omega-3 fatty acids which are eicosapentaenoic acid (EPA), docosahexaenoic acid (DHA) and α-linolenic acid (ALA).
Sources omega-3 containing plant oils include: walnut, clary sage seed oil, algal oil, hemp oil, flaxseed oil and edible seeds etc. Sources omega-3 containing animal oils includes: egg oil, fish oils, krill oil and squid oils etc.
FDA, regulatory body, has compiled some specifications for the consumption of omega-3 fatty acids containing products. For example in Russia, the consumption of omega-3 fatty acid is restricted to 1,500mg. Similarly for France, it is limited to 500mg, for Australia it is 160mg and for Norway it is 450mg.
The ranking of omega-3 is considered to be the most important and essential nutrients. It is expected that by 2022 the omega-3 market will reach USD 6,955 million.
The benefits of omega-3 fatty acids are listed below:
Animal based omega-3 can be obtained from various sources including:
The increasing awareness amongst people regarding healthy and balanced eating habits and scientifically proven health benefits of omega-3 are the major driving factors of the world omega-3 market and is expected to show a remarkable impact on the growth of the market, as awareness amongst population is increasing. The omega-3 intake helps in preventing many major chronic diseases like arthritis, cardiovascular diseases and cancer which is hitting the society on a large scale. Further EPA and DHA supplements of omega-3 are greatly helpful in preventing colon, breast and prostate cancers.
With the great number of driving factors of this market, many strong challenges such as large manufacturing cost coupled with stringent regulatory barriers are faced by this omega-3 market.
The segmentation of the world omega-3 market can be done on the basis of its type, application, geography and source. In 2015, with more than three-fourths of the total shares DHA market segment showed domination on the overall omega-3 market. On the other hand in the same year ALA and EPA both segments together accounted to be the one-fourth of the revenue share of market. For the tenure of 2016 to 2022, ALA segment is estimated to grow rapidly with a CAGR of 15.8%.
Further classification of omega-3 can be done on the basis of its source such as nuts & seeds, marine, soya products and vegetable oils.
Classification on the basis of application include: pharmaceuticals, food & beverages, pet food, fish feed, dietary supplements and infant formulas. From 2016-2022, with a CAGR of 18% pharmaceutical application segment is projected to grow.
Major regions on the basis of which world omega-3 market is analysed include: North America, Asia-Pacific, LAMEA and Europe.
Top market players profiled in the report include: Cargill, Incorporated, FMC Corporation, Croda International Plc, Royal DSM, OLVEA Fish Oils, Omega Protein Corporation, GC Rieber Oils, LuhuaBiomarine (Shandong) Co., Ltd., Pharma Marine AS, and Polaris. Cargill, Inc.
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