The omega-3 market is expected to be worth over USD 7 billion by 2020, according to a study conducted by Grandview Research, Inc.. Omega-3 fatty acids are nutrients that cannot be broken down by the body but are essential for good health. They contain eicosapentaeonic acid (EPA), α-linolenic acid (ALA), docosahexaenoic acid (DHA), and arachidonic acid (AA).
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Omega-3 fatty acids are commonly found in fish, fish oil, flax seeds, and chia seeds. One of their benefits includes lowering down the levels of LDL or bad cholesterol, which in turn reduces the risk of high blood pressure or coronary disorders. The demand for omega-3 was 21.9 kilo tons (KT) in 2012. It is estimated to increase to 60 kilo tons by 2020.
The demand is likely to rise at a CAGR of over 13% by 2020. Food supplements command a lion’s share (55%) in the omega-3 market. They are followed by pharmaceutical products and infant formulas, together consuming 33% share. The rest of the market is occupied by food and beverages.
Food supplements consumed more than 12 KT in 2012. They are expected to rise exponentially by 2020. Infant formula is the fastest growing segment with an estimated CAGR of over 15% by 2020. About 87% of the infant formula sold in 2011 consisted of AA and DHA. Companies like Nestle and Similac have capitalized on this and sold many products owing to the benefits of Omega-3.
Additionally, the Food & Drug Administration (FDA) and the American Dietetic Association (ADA) have approved the use of omega-3 food supplements. These supplements reduce the risk of coronary diseases and maintain healthy triglycerides levels. Grandview Research found that Europe and North America dominate the omega-3 market with over 60% share in 2012.
These regions will continue to expand due to regulations favoring omega-3 ingredients in infant formulas. The Asian Pacific omega-3 market is likely to grow the fastest, due to high birth rates in China and India. A healthy diet comprising omega-3 and fish oils in Southeast Asia is expected to boost the sales of Asia Pacific.
DSM is one of the largest players in the omega-3 market. It is followed by Omega Protein, BASF, Croda International, GC Reiber Oils and Martek Biosciences Corporation. Aker Biomarine, BioProcess Algae, Orkla Health, EPAX, and Lonza are some of the other important market players.
Information Source: Grand View Research