(Food-Beverage-News.Com, May 15, 2020 ) The global omega-3 market size is estimated to be valued at USD 4.1 billion in 2019 and is projected to be worth USD 8.5 billion by 2025, recording a CAGR of 13.1% during the forecast period. The growing demand for food fortification, increase in application profiling, and innovative product technologies shall drive the growth of the global omega-3 market over the next few years. Due to the increasing trend of mother and infant nutrition products, consumption of omega-3 fatty acids improve the performance. The omega-3 market is projected to record significant growth during the forecast period. In addition, due to the rise in health awareness among consumers, omega-3-based dietary supplement products are projected to witness high demand in the market.
The key players in this market include Cargill (US), BASF (Germany), DSM (Netherlands), Croda International (UK), and Epax (Norway). New product and technology launches, expansions & investments, agreements, and partnerships were some of the core strengths of the leading players in the omega-3 market. These strategies were adopted by the key players to increase their market presence. It also helped them diversify their businesses geographically, strengthen their distribution networks, and enhance their product portfolios. Some of the other players in the omega-3 market include Lonza (Switzerland), Orkla Health (Norway), Corbion (Netherlands), KD Pharma (Germany), GC Rieber (Norway), Guangdong Runke Bioengineering (China), Nordic Naturals (US), Golden Omega (Chile), Biosearch Life (Spain), Pharma Marine (Norway), Polaris (France), Sinomega (China), Kinomega (China), and Huatai Biopharm (China).
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DSM (Netherlands) is one of the major players in the global omega-3 market. DSM is a Dutch company that is involved in the manufacture of nutritional products, pharmaceutical ingredients, and industrial chemicals. The company is actively providing solutions in the fields of nutrition and health. To expand its business, the primary strategy opted by the company is to launch new products, partnerships, investments, and joint ventures. DSM launched Life’s Omega is an algae-based vegetarian capsule that offers both EPA and DHA and is a natural source for omega-3. This product aided in sustaining the marine ecosystems.
Epax (Norway) is one of the major players in the omega-3 market. It is one of the global leaders in providing omega-3 concentrates, which are highly purified and of high quality. The company’s line of business includes omega-3 concentrates in different concentrations and EPA: DHA ratios. Epax announced to invest USD 35 million over the next two years for the innovation of its omega-3 sector. This investment will allow Epax to have better capacity in the omega-3 industry, at its main site of production in Norway. It will facilitate the extended concentration of EPA and DHA without prompting oxidation, which will ultimately avoid unwanted by-products.
The omega-3 market in Asia Pacific is projected to witness high growth due to rising awareness about its health benefits and increasing disposable income of the population in the Asia Pacific countries. With the growing inclination toward healthy aging in the region, the adult population prefers consuming dietary supplements, including omega-3, as per the recommendations by the Global Organization for EPA & DHA Omega-3 (GOED). Moreover, in Asia Pacific countries, the governments are also focusing on and promoting fortified foods, and many big brands such as BASF (Germany) and Croda International (UK) have expanded their operations in these countries to cater to the growing demand for omega-3. Key manufacturers prefer expanding in the Asia Pacific region, as it provides cost-effective benefits during production and processing. The high demand for omega-3 and low cost of production are the major factors that are projected to encourage suppliers and manufacturers to invest in this market. In addition, Asia Pacific has the highest growth potential due to factors such as high economic growth and the increase in income of individuals in the region. The high population growth and increase in FDI are factors that are driving the growth of the omega-3 market.
This report includes a study on the marketing and development strategies, as well as the product portfolios of the leading companies operating in the omega-3 market. It includes the profiles of leading companies such as Epax (Norway), Croda International (UK), Golden Omega (Chile), GC Rieber (Norway), Cargill (US), DSM (Netherlands), BASF (Germany), Lonza (Switzerland), KD Pharma (Germany), and Pharma Marine (Norway).