DUBAI, UAE / ACCESSWIRE / March 4, 2021 / FMI has forecasted the omega-3 ingredients market to record an impressive CAGR of 10.9% through 2031. Demand for omega-3 ingredients is anticipated to continue surging as people are becoming more aware of the importance of alpha-linolenic acid, which is not produced by the body but can be found in omega 3 ingredients.
" Governments of various countries such as the U.S., Sweden, Canada, and Japan are adopting various initiatives. They are encouraging the adequate intake of fatty acids such as omega-3 ingredients for better health." says the FMI analyst.
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Omega-3 ingredients Market - Important Highlights
- Eicosapentaenoic Acid is anticipated to be the leading ingredient in the global market for Omega-3 ingredients.
- Increased sales of omega-3 ingredients from plant-based resources such as chia, linseed, canola, walnut, mustard are anticipated during the forecast years.
- The use of omega-3 ingredients in baby formula and the pharmaceutical and nutraceutical industries is expected to see significant growth in the global market.
- Sales in Europe are expected to account for more than 36.8% of overall demand during the forecast period.
Omega-3 ingredients Market - Drivers
- Rise in awareness among consumers regarding their health and wellness
- As customers become increasingly aware of the value of the use of plant-based proteins such as omega-3 ingredients, producers can expand their product line by introducing new products.
- Rising urbanization and a growing prevalence of sedentary lifestyles are fuelling the demand for healthy food convenience is driving the market.
- Increasing investment in the R&D sector is boosting the market growth.
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Omega-3 ingredients Market - Restraints
- The exact standard omega-3 dose for daily intake is not clear which will limit the market growth.
- The cost of fish and other marine oils used to extract omega-3 is high and extremely unstable which is anticipated to restrain the growth of the market.
COVID-19 Impact on Omega-3 ingredients Market
During the onset of COVID, the market was driven by the stockpiling of essential and healthy food items which were followed by a lockdown. As health and hygiene were on the top priority list of customers, there was a rapid increase in sales in omega-3 ingredients due to their source of essential nutrients. During the onset of lockdown, there was an increase in demand generated from the eCommerce stores.
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Competitive Landscape
The omega-3 ingredients market players are going for expansion of the production facilities besides opting for strategic collaborations to attain a competitive edge.
There is also a great deal of emphasis on research and development leading to different product releases. For instance, In 2020, Wiley Companies released Omega 3 powder concentrate.
Some of the leading companies operating in the omega-3 ingredients market are Croda International Plc, Omega Protein Corporation, Koninklijke DSM N.V., Cargill Inc., Epax Norway AS
Table Of Content
1. Market Introduction
1.1. Market Definition
1.2. Market Taxonomy - Research Scope
2. Global Omega 3 Ingredients Market Analysis Scenario
2.1. Global Omega 3 Ingredients Market Value (US$ Mn) and Volume (MT) Forecast, 2021-2031
2.2. Global Omega 3 Ingredients Market Volume (Kilo Tones) - Scenario Forecast, 2021 & 2031
2.3. Porter's Five Forces Analysis - Omega 3 ingredients Market
3. Product Innovation / Development Trends
3.1. Cultural Customization to Target Specific Populations and Ethnic Groups
3.2. Creating New Delivery Mechanisms
3.3. e-Commerce Website
3.4. Shift towards Natural Ingredients
3.5. Preferential Inclination towards Non-Modified Functional Ingredients
3.6. Brand Differentiation through Packaging
3.7. Transformed Packaging to Suit Customer Orientation
4. Key Trends Impacting the Market
4.1. Heightened M&A Activity
4.2. Marketers Reach Out to Millennial
4.3. Leveraging New Health Claims
4.4. Shortened Product Launch Frequency
4.5. Key Success Factors
4.5.1. Leveraging Personalized Healthcare Delivery
4.5.2. Powerful Portfolio of Formulation and brands
4.5.3. Nuanced Marketing Campaigns
4.5.4. Exploiting Economies of Sales
4.5.5. Establishing Flexible Supply Chain to Optimize on Miracle Ingredients
4.5.6. Working in Close Vicinity of Policy Formulators
4.5.7. Strategic Promotional Activity
5. Market Background and Associated Industry Indicators
5.1. Transformation of Nutraceuticals Market
5.2. Increasing Per Capita Healthcare Expenditure
5.3. Comparison of Elderly Population with GDP per Capita, 2016
5.4. Convergence of Food and Pharmaceuticals
5.5. Nutraceuticals: Ways to Achieve Success
5.6. Out-of-pocket expenditure (% of current health expenditure)
5.7. Key Differentiator for Essential Fatty Acids
5.8. Macroeconomic Factors
5.8.1. Food Retail Sector Growth
5.8.2. Per Capita Food Expenditure
5.8.3. Promotional Strategies and Marketing Efforts
5.8.4. Urbanization
5.9. Macro-Economic Indicators
6. Market Dynamics
6.1. Market Drivers
6.1.1. Supply Side Drivers
6.1.2. Demand Side Drivers
6.1.3. Economic Side Drivers
6.2. Market Trends
6.2.1. Business Trends
6.2.2. Product Trends
6.2.3. End Use Trends
6.3. Market Restrains
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About the Study
The study offers readers a comprehensive assessment of the omega-3 ingredients market. Global, regional, and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights based on ingredients (Alpha-linolenic Acid, Eicosapentaenoic Acid, Docosahexaenoic Acid), application (food and beverage industry, Dietary Supplements, Infant Formulas, Pharmaceutical & Nutraceutical Industry, Animal Feed) and across key regions such as North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa.
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About Future Market Insights
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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United Arab Emirates
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SOURCE: Future Market Insights
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