Nowadays, consumers are becoming more conscious about their health owing to growing awareness regarding health issues. Therefore, they are preferring those food products which have high nutrient content. It has been found that the American diet has changed according to time. The changing eating habits including consumption of fast foods which has small amount of essential omega-3 fatty acids and high amount of saturated fat, increases the demand for the omega-3 enriched food products. It leads to high demand for omega-3 enriched food products and omega-3 supplements which is increasing the market growth.
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Data Bridge Market Research analyses that the Omega-3 for Food Application Market is expected to reach USD 3,110,392.96 thousand by 2028 from USD 1,473,503.69 thousand in 2020, growing with a CAGR of 9.9% in the forecast period of 2021 to 2028. Technological advancements in the making of omega-3 from different sources will provide potential opportunities for the market growth in the forecast period.
Abundant availability of raw materials for the omega-3 production is expected to drive the market's growth rate
Omega-3 is unsaturated essential fatty acid that play an important role in human body and may provide various health benefits. The three main types of omega-3 fatty acids are docosahexaenoic acid (DHA), α-linolenic acid (ALA) and eicosapentaenoic acid (EPA). α-linolenic acid (ALA) which is mainly found in nuts and vegetable oil. The other two derivatives such as docosahexaenoic acid (DHA) and eicosapentaenoic acid (EPA) are found in fish and other marine sources such as bacteria and microalgae. α-linolenic acid (ALA) is converted into docosahexaenoic acid (DHA) and eicosapentaenoic acid (EPA) but the conversion rate is inefficient and very limited , thus omega-3 must be taken in the form of dietary supplement to fulfill daily requirements. Therefore, the abundant availability of raw materials for the production of omega-3 is expected to increase market growth.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2021 to 2028
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Base Year
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2020
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Historic Years
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2019 (Customizable to 2013 - 2018)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Alpha-Linolenic Acid (ALA), Eicosapentaenoic Acid (EPA), Docosahexaenoic Acid (DHA) and Eicosapentaenoic Acid (EPA)+Docosahexaenoic Acid (DHA)), Source (Marine Based, Algae–Based and Plant-Based), Form (Oil and Powder), Function (Food Fortification, Bone and Joint Health, Skin Health, Hair Health, Nails Health and Others), Applications (Functional Food, Confectionery and Chocolate Products, Sports Nutrition, Dietary Supplements, Infant Formula and Others)
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Countries Covered
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U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
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Market Players Covered
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Solutex (Spain), Algaecytes (U.K.), Cellana Inc. (U.S.), HUTAI Biopharm Resource Co. Ltd (U.S.), DSM (Netherlands), BASF SE (Germany), GOLDEN OMEGA (U.S.), Croda International Plc (U.K.), AlaskOmega (U.S.), KinOmega Biopharm Inc. (China), Aker BioMarine (Norway), Pharma Marine AS (Norway), GC Rieber VivoMega AS (Norway), Sanmark LLC (U.S.), Arjuna Natural Pvt Ltd. (India), ConnOils LLC (U.S.), Kingdomway Nutrition, Inc. (China), Novosana (Netherlands), ADM (U.S.), Polaris Inc (U.S.) and Biosearch life (Spain)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
The omega-3 for food application market is segmented on the basis of type, source, form, function and applications.
- On the basis of type, the omega-3 for food application market is segmented into alpha-linolenic acid (ALA), eicosapentaenoic acid (EPA), docosahexaenoic acid (DHA) and EPA+DHA.
The eicosapentaenoic acid (EPA) + docosahexaenoic acid (DHA) segment of type segment is anticipated to dominate the omega-3 for food application market
Eicosapentaenoic Acid (EPA) + Docosahexaenoic Acid (DHA) segment has dominated the omega-3 for food application market with a CAGR of 10.2% in the forecast period of 2021 to 2028 due to the factors such as thigh number of health benefits associated with consumption of EPA and DHA.
- On the basis of source, the omega-3 for food application market is segmented into marine based, algae–based and plant-based. Marine based segment has dominated the omega-3 for food application market with a CAGR of 9.6% in the forecast period of 2021 to 2028 due to the factor such as algae is major source of omega-3 fatty acids.
- On the basis of form, the omega-3 for food application market is segmented into oil and powder. Oil segment has dominated the omega-3 for food application market with a CAGR of 10.1% in the forecast period of 2021 to 2028 due to the high applications of oil in the food and dietary supplement such as in soft gels.
- On the basis of function, the omega-3 for food application market is segmented into food fortification, bone and joint health, skin health, hair health, nails health and others.
The bone and joint segment of function segment is anticipated to dominate the omega-3 for food application market.
Bone and joint health segment has dominated the omega-3 for food application market with a CAGR of 9.5% in the forecast period of 2021 to 2028 due to the high applications of omega-3 in the join and bone health with the growing incidences of osteoporosis in every age group.
- On the basis of applications, the omega-3 for food application market is segmented into functional food, confectionery and chocolate products, sports nutrition, dietary supplements, infant formula and others. Dietary supplements segment has dominated the omega-3 for food application market with a CAGR of 9.6% in the forecast period of 2021 to 2028 owing to increasing health consciousness consumers all over the globe.
Major Players
Data Bridge Market Research recognizes the following companies as the major omega-3 for food application market players in omega-3 for food application market Solutex (Spain), Algaecytes (U.K.), Cellana Inc. (U.S.), HUTAI Biopharm Resource Co. Ltd (U.S.), DSM (Netherlands), BASF SE (Germany), GOLDEN OMEGA (U.S.), Croda International Plc (U.K.), AlaskOmega (U.S.), KinOmega Biopharm Inc. (China), Aker BioMarine (Norway), Pharma Marine AS (Norway), GC Rieber VivoMega AS (Norway), Sanmark LLC (U.S.), Arjuna Natural Pvt Ltd. (India).
Market Development
- In 2019, Epax has invested USD 35 million in omega-3 industry innovation. Epax aimed to increase the capacity in the omega-3 sector at its main manufacturing plant in Norway. This will allow higher concentrations of docosahexaenoic acid (DHA) and eicosapentaenoic acid (EPA) resulting in fewer undesirable by-products without causing oxidation.
- In 2019, Kardio3 which is a combination of omega-3, vitamin K2 and phytosterols, was launched by KD Pharma. It promotes bone and heart and health, as well as good level of lipids.
- In 2019, Polaris has launched Omegavie DHA 700 algae Sensory QualitySilver, which will help the company's efforts toward growth and expansion of algal omega-3. This product includes a high concentration of docosahexaenoic acid (DHA) and has excellent organoleptic qualities.
Regional Analysis
Geographically, the countries covered in the omega-3 for food application market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
As per Data Bridge Market Research analysis:
North America is the dominant region in omega-3 for food application market during the forecast period 2021 to 2028
North America dominates the omega-3 for food application market due to the abundant availability of raw materials such as fish oils, algae and plant based sources. North America will continue to dominate the omega-3 for food application market in terms of market revenue and market share and will continue to flourish its dominance due to the high demand for fortified food products and advancements in food technology in this region.
Asia-Pacific is estimated to be the fastest-growing region in omega-3 for food application market the forecast period 2021 to 2028
Asia-Pacific is expected to grow during the forecast period of 2021 to 2028 because major industrialists in this region are focusing to produce omega-3 products for food application such as bakery, confectioneries, and dietary supplements. Moreover, growing demand for fortified food products is expected to propel the growth of the market in this region.
COVID-19 Impact Analysis
The omega-3 for food application market is projected to be slightly affected by pandemic. This is owing to the augmented demand for the omega-3 for immunity purposes during the pandemic. As per the studies, the multi-organ failure, caused by cytokine storms and immune system hyperactivity, is one of the major cause of death in individuals. No rover, increasing omega-3 fatty acid intake through supplementation or diet may help to improve immunological function, reduce viral entry, and reduce severity in COVID-19 patients. Therefore, the augmented importance of immunity growth in the COVID-19 pandemic has reinforced the market's growth.
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