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North America is leading the global omega 3 (EPA/DHA) ingredients market, due to the growing disposable income, increasing health awareness and upsurge in consumer expenditure on healthy food products. The Latin America and Middle East omega 3 ingredients market is also growing at a considerable rate, due to increasing awareness of healthy lifestyle in the regions.
The global omega 3 ingredients market is growing at a significant rate, due to increasing consumer health concerns, augmented application scope for omega 3 fatty acids, and scientific evidences supporting health benefits, with the use of omega 3 ingredients. Technological advancements, such as better encapsulation has provided ample opportunities to the growth of the global omega 3 ingredients market, in the coming years. The increasing fish oil market has unlocked enormous opportunities for the expansion of substitute sources, such as algae and flax seeds for extracting omega 3 ingredients.
On the basis of type, the omega 3 ingredients market can be categorized, as eicosapentaenoic acid (EPA), docosahexaenoic acid (DHA), and aplha-linolenic acid (ALA). The omega 3 ingredients market can also be categorized, on the basis of applications as pharmaceuticals, pet and animal feed, supplements and functional foods, and infant formulas. Supplements and functional foods market dominates the omega 3 ingredients market, among the applications categories, also it is expected to continue leading the market, in the coming years. The supplements and functional foods application leads, due to growing information about the advantages of consuming supplements, and functional foods enriched with omega 3 fatty acids, among the consumers.
Omega 3 fatty acids such as eicosapentaenoic acid and docosahexaenoic acid are generally extracted from squid, fish oil, algae and krill. Due to high content of eicosapentaenoic acid and docosahexaenoic in fish oil, it is mostly used as profitable source of omega 3 fatty acids. Several diseases, such as colon cancer, heart diseases, arthritis, breast cancer, and prostate cancer can be prevented with the consumption of omega 3 fatty acids. Inflammation can be reduced by consuming diet enriched with omega 3 fatty acids, on daily basis.
Companies, such as Similac, and Nestle S.A. have a substantial collection of omega 3 enriched infant formulations, and the companies have been gradually growing product lines, for the segment in previous years. The minimum consumption of EPA and DHA about 500 milligram per day, has been recommended by the American Dietetic Association. The claim of omega 3 about reducing the levels of triglyceride in the body, and decreasing the chances of congenital hip dislocation has been approved by the Food and Drug Administration.
Less awareness about the types of fats and their benefits among the consumers is restraining the growth of the omega 3 ingredients market. As the omega 3 ingredients primarily develop from fish oil, consumer opinion about smell and taste of omega 3 ingredients are hindering the growth of the omega 3 ingredients market. However, the technological advancements, such as enhanced encapsulation of omega 3 ingredients are overcoming the hindrances, in the omega 3 ingredients market. The absence of recommended dietary intake standard is posing a serious threat to the growth of the omega 3 ingredients market.
Some of the competitors in the omega 3 ingredients market are NU-MEGA Ingredients Pty Ltd., FMC Corporation, Koninklijke DSM N.V., Omega Protein Corporation, Croda, Inc., BASF SE, Arista Industries, Inc., Pronova BioPharma ASA, and Copeinca ASA.