PUNE, India, Feb. 16, 2021 (GLOBE NEWSWIRE) — The Global Omega-3 Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, business strategies, research & development activities, supply chain analysis, competitive landscape, and market composition analysis.
The global omega-3 market size was estimated to be US$ 2.3 billion in 2019 and expected to reach US$ 4.7 billion by 2030 at a CAGR of 6.7%. Omega-3s are essential fatty acids that play an important role in your body and assist in a number of beneficial ways to the health of the consumer. As your body cannot produce them on its own, it is vital that these be received from the external consumption.
The three most important types of Omega 3 acids are, ALA (alpha-linolenic acid), DHA (docosahexaenoic acid), and EPA (eicosapentaenoic acid). ALA type is found mainly in plants, while DHA and EPA occur mostly in foods derived from animal and algae. Common foods that are high in omega-3 fatty acids are fatty fish, fish oils, flax seeds, chia seeds, flaxseed oil, and walnuts.
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The intake of omega-3 fatty acids is necessary for the proper functioning of the brain and retinas. It is especially crucial for the women who are pregnant and breastfeeding, to get enough DHA, as it can affect the health and intelligence of their child.
Additionally, when the intake portion of the Omega 3 fatty acids is sufficient, it can have powerful health benefits for adults too. Studies show that omega-3 fatty acids can provide protection against all sorts of illnesses, including breast cancer, depression, ADHD, and various inflammatory diseases. If one doesn’t consume fish or other naturally obtained food sources of omega-3s, they should consider the consumption of supplements. Supplements are both cheap and effective.
According to a study published in the Nature Food Journal in November 2020, the supply, and demand gap for Omega 3 fatty acids remains substantial, nearly twice as previous estimates. The rising demand for healthy substitutes to cater to growing health-conscious population remains a key driver of growth in the omega 3 market. The supply chain also promises to stabilize in near future, as opportunities in the increasing use of by-products from fisheries, and promising initiatives to reduce food waste remains a growth factor in the Omega 3 market.
Omega 3 acids remain at the forefront of rising awareness about heart disease, and promise a healthy opportunity for reducing its risk. According to the American Heart Association, the Omega 3 reduces risk for heart diseases, and strokes, two deadly diseases plaguing the global population. According to the World Health Organization (WHO), cardiovascular diseases consisting of heart disease remain the number 1 cause of deaths worldwide. The WHO estimates that these diseases on the rise, kill nearly 18 million people each year globally.
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Furthermore, 4 out 5 cardiovascular related deaths are caused due to heart disease, and strokes. Additionally, one-third of the deaths are premature, as they have been seen to occur in the people below the age of 70. The growing awareness about heart disease, growing demand for omega-3, and large preventive potential of the fatty acids remain a major potential for growth for players in the omega 3 market.
The Type segment of the Omega 3 Market is led by docosahexaenoic acid (DHA):
The docosahexaenoic acid (DHA) market leads the Omega 3 market in the Type segment. DHA is required among consumers of all ages as it supports learning and memory retention and also plays a vital role in the development of eye and nerve tissues.
DHA is an important ingredient, for consumers across all ages, as it supports healthy learning and memory retention, and it also plays a key role in the tissue development of the eyes and nerves. The combination of the two important types of Omega-3, DHA and EPA, helps in the reduction of bad cholesterol and cuts down the coronary heart diseases, such as strokes and blood pressure, which is why it can be expected that with today’s changing lifestyles and the wide prevalence of a number of heart diseases and the rising awareness against them, the Omega-3 Market will receive a significant boost.
Marine based products dominate the Source segment of the Omega-3 Market:
In terms of revenue, marine source of Omega-3 fatty acids accounted for a major share of the market, and is anticipated to witness significant growth over the forecast period.
The demand for the marine based products is largely driven by the growth in the consumer interest in the Omega-3 fatty acids extracted from fish and krill oils. Today, there is an increasing consumption of Omega-3 in the form of Omega-3 fortified food products, such as fish, ham and sausages, which is expected to drive the growth of the Source segment of the Omega-3 Market over the next few years. Additionally, the growing awareness surrounding the consumption of foods rich in high triglyceride, is anticipated to create a surge in the demand for Omega-3 fortified foods.
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North America leads the Region segment of the Omega-3 Market:
North America emerged as the largest market in the region segment of the Omega-3 Market, on account of the rising usage that this product has found in the pharmaceutical industry, coupled with the growing research and development activities that are taking place.
Moreover, there has been observed an increased consumption of better, more advanced medications, along with the want to increase the life expectancy of the geriatric population, which is expected to boost the demand for Omega-3 based pharmaceutical products in the North America region.
The region of Asia Pacific is expected to witness considerable growth throughout the forecast period owing to the rising demand for the Omega-3 products in the countries namely China, India, Singapore, South Korea, Australia, and Japan.
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Major players active in the global Omega-3 Market include Aker BioMarine, Axellus, BASF SE, DSM, Omega Protein Corporation, GC Reiber Oils, and Lonza.
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