North America to Dominate Omega-3 PUFA Market

The latest research report from Market Research Future (MRFR) provides a comprehensive overview of the global omega-3 PUFA (polyunsaturated fatty acids) market. The global omega-3 PUFA market is studied in detail in the report to provide indicators as to the growth trajectory of the market in the coming years. Historical growth trends prevalent in the market are studied in the report to provide readers with a complete overview of the major factors acting on the market. Key drivers and restraints are studied in the report in extra detail. Major players operating in the global omega-3 PUFA market are also studied in the report.

Omega-3 PUFA Market Size is projected to reach USD 8,628.0 Million at a 14.01% CAGR by 2030.

Growing awareness about the health benefits of omega-3 PUFAs is likely to be the major driving factor for the global omega-3 PUFA market over the forecast period. Omega-3 and omega-6 PUFAs play an essential role in maintaining the body’s immune system, skin health, as well as nervous system. Brain function may also be enhanced by regular consumption of omega-3 PUFAs. Growing research into PUFAs has resulted in increasing consumer awareness about omega-3 as well as omega-6 PUFAs, leading to easy commercialization opportunities for manufacturers. The increasing demand for dietary supplements and related products is likely to be a key driver for the omega-3 PUFA market over the forecast period.

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The increasing demand for preventative medicine rather than curative medicine is likely to be a major driver for the omega-3 PUFA market. With growing awareness, consumers in many parts of the world are opting to live a lifestyle that will enable disease prevention. This includes an increasing emphasis on exercise and nutrition, with the consumption of healthy foods being a high priority. Food supplements have thus become important in the global food and beverage industry, carving out a strong niche in the latter, especially in developed regions such as the U.S. and Europe. This is likely to be a major driver for the omega-3 PUFA market over the forecast period, as the majority of omega-3 PUFAs consumed are consumed as supplements.

Competitive Analysis:

Leading players in the global omega-3 PUFA market include GC Rieber Oils, Croda International plc, Pharma Marine AS, Polaris, GOED Omega-3, Arista Industries Inc., Omega Protein Corporation, Royal DSM, FMC Corporation, and Cargill Inc. Leading players in the omega-3 PUFA market are likely to focus on product diversification and acquisitions in the coming years in order to build up a solid portfolio of products and regional markets.

In September 2019, a study found that fish oil capsules on sale in New Zealand have been marketed with inflated figures concerning PUFA volume and may contain half the advertised amount. While the omega-3 PUFA market is growing steadily, scandals such as this may hold the industry back in its nascent years.

Segmentation:

The global omega-3 PUFA market is segmented on the basis of product type, source, application, and region.

By product type, the global omega-3 PUFA market is segmented into eicosapentaenoic acid (EPA), docosahexaenoic acid (DHA), and alpha-linolenic acid (ALA).

By source, the global omega-3 PUFA market is bifurcated into plants and marine sources. The plant sources segment is further sub-segmented into flaxseed, chia seed, and others. The marine segment is further segmented into fish oil, algal oil, krill oil, and others.

By application, the omega-3 PUFA market is segmented into dietary supplements, functional food and beverages, animal feed, pharmaceuticals, infant formula, and others.

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Regional Analysis:

North America is likely to be the largest regional market for omega-3 PUFAs over the forecast period due to the growing awareness about the health benefits of PUFAs and the increasing incorporation of dietary supplements. The growing demand for preventive measures that can delay or prevent the onset of neurodegenerative conditions such as Alzheimer’s and Parkinson’s disease is likely to be a major driver for the omega-3 PUFA market over the forecast period.

North America is followed by Europe and Asia Pacific, with the latter expected to exhibit the highest growth rate over the forecast period.

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