EPA/DHA (Omega3) Ingredients Market to reach $3.8 billion by 2026, Says Global Market Insights, Inc.
EPA/DHA (Omega3) Ingredients Industry projected to register more than 7% CAGR between 2020 and 2026, impelled by increasing consumer awareness for omega-3 fortified products.
Selbyville, Delaware, Oct. 29, 2020 (GLOBE NEWSWIRE) —
The EPA/DHA (omega3) ingredients market value is expected to cross USD 3.8 Billion by 2026, according to a new research report by Global Market Insights, Inc. Growing awareness about the functional benefits of EPA/DHA ingredients and increasing and increasing health care cost is anticipated to propel the industry outlook.
EPA/DHA (Omega3) Ingredients industry from EPA is expected to register over 8.6% CAGR through 2026, due to the virtue of increasing high quality supplements and increasing product penetration. Since, EPA fatty acid supplements help to support good heart health along with weight management, child development, and joint health. EPA metabolizes to produce hormone like substances called eicosanoids which are responsible regulating cell growth, muscle activity, hormone secretion and blood clotting. Thereby, demand for EPA/DHA(Omega3) ingredients is anticipated to grow. Moreover, rising incidences of various diseases like cardiovascular disease, diabetes and hormonal issues owing to hectic lifestyle and harmful dietary habits will boost product demand.
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The global economy is hit by COVID- 19 pandemic where, even after continuing the operations, many nations are facing challenges of resuming their production capacity and manufacturers are experiencing the effect of shortages in their distribution networks. However, increasing electricity demand and robust growth across the healthcare sector is anticipated to amplify the product installation.
Some major findings of the EPA/DHA (omega3) ingredients market report include:
The gradual shift of consumers towards dietary and functional food has gain traction owing to its high protein and nutrition content will foster the global Market trends.
Increasing incorporation of EPA/DHA ingredients in infant formulas is one of the defining trends which creates favourable market demand.
EPA/DHA (omega3) ingredients demand from animal & pet feed is expected to register over 9.8% CAGR through owing to increasing number of pet ownership.
High demand of clean label products is creating lucrative growth opportunities for the market.
EPA/DHA ingredients sourced from plant such as algae is likely to gain traction in the market due to increasing vegan population.
Key players operating in the market are continuously investing in research and development activities in order to monitor its product offerings and exhilarate ever rising demand of consumers.
Increasing application scope in cancer treatment may drive the industry demand. Rise in R&D expenditure to develop omega 3 clinical nutrition products and pharmaceutical drugs should have positive influence on product demand.
Some of the major players operating in the market are BASF, Koninklijke DSM N.V., Croda International plc, Omega Protein, Nordic Naturals, Inc., Copeinca ASA, Epax Norway AS, Arista Industries, Inc., GC Rieber, Solutex, Olvea and Lysi others.
Browse key industry insights spread across 300 pages with 396 market data tables and 30 figures & charts from the report, “EPA/DHA (Omega3) Ingredients Market Forecasts By Application (Dietary supplements, Pharmaceuticals, Functional Foods, Pet & Animal