Market Highlights
The Global Omega-3 PUFA Market is estimated to be valued at USD 8,418.0 Million by 2025, expanding at a CAGR of 11.01% during the forecast period. Omega-3 PUFA are essential fatty acids for overall health and wellness. There are three types of omega-3 PUFA, namely, ALA, DHA, and EPA. The demand for omega-3 has seen a rise in recent years owing to a focus on preventive healthcare and the growth of application industries.
North America was the largest market for omega-3 PUFA in 2018, and the region is expected to continue to dominate the global market during the review period. The presence of numerous food processors and dietary supplement manufacturers boosts the consumption of omega-3 in the region. The demand for omega-3 supplements containing fish oil and krill oil is high among the US population. Asia-Pacific also accounted for a substantial share of the global omega-3 PUFA market. The demand for omega-3 in infant formula in the region has grown in the last few years and is expected to continue during the forecast period.
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The global omega-3 PUFA market is expected to register a high growth rate during the forecast period. Omega-3 PUFA offers various benefits for human health; it helps maintain heart health and eye health and aids in weight loss and improving overall mental and physical health. Thus, several food processors and nutraceutical manufacturers have begun introducing products enriched with omega-3 fatty acids. Growing awareness among consumers regarding these benefits has resulted in the increased demand for omega-3 PUFA, thereby driving the growth of the market.
Segmental Analysis
The global omega-3 PUFA market has been segmented on the basis of type, source, application, and region.
By type, the market has been divided into docosahexaenoic acid (DHA), eicosapentaenoic acid (EPA), and alpha-linolenic acid (ALA). The docosahexaenoic acid (DHA) segment accounted for the largest market share in 2018. DHA is important for fetal brain development, optimal development of motor skills, visual acuity in infants, lipid metabolism in children and adults, and cognitive support in adults. Thus, it has wide acceptance in the application industries. However, the alpha-linolenic acid (ALA) segment is projected to exhibit the highest CAGR during the forecast period due to increasing adoption of plant-based sources for the extraction of omega-3 PUFA.
Based on the source, the global omega-3 PUFA market has been segmented into plant sources and marine sources. The plant sources segment has been further divided into flaxseed, chia seed, and others, whereas the marine sources segment has been further categorized as fish, algae, krill, and others. The marine sources segment accounted for the larger market share in 2018 owing to a large portion of omega-3 PUFA being extracted from fish. However, the plant sources segment is projected to expand at a higher CAGR during the forecast period. The growth of this segment can be attributed to the high demand for plant sources as an alternative to fish for sustainable extraction of omega-3 PUFA.
In terms of application, the market has been classified as functional food & beverages, dietary supplements, infant formula, pharmaceuticals & nutraceuticals, and others. The dietary supplements segment accounted for the largest share of the market in 2018. The growth of the global omega-3 PUFA market can be attributed to the easy approval process for omega-3 PUFA as a dietary supplement by the US Food and Drug Administration. However, the infant formula segment is projected to register the highest CAGR during the forecast period. The surge in consumption of infant formula is creating lucrative opportunities for manufacturers to offer products with omega-3 PUFA.
Market Players
Market Research Future recognizes Cargill, Incorporated (US), BASF SE (Germany), Pharma Marine AS (Norway), Croda International Plc (UK), Polaris (France), Pelagia AS (Norway), Omega Protein Corporation (US), Arista Industries (US), Koninklijke DSM N.V. (Netherlands), and Arjuna Natural Pvt Ltd (India) as the key players in the global omega-3 PUFA market.
Regional Analysis
Geographically, the global omega-3 PUFA market has been segregated into North America, Europe, Asia-Pacific, and the rest of the world. As per MRFR analysis, North America accounted for a dominant share of the global market in 2018. Moreover, the market in Asia-Pacific is expected to register the highest CAGR of 11.47% during the assessment period. The market in the Middle East is projected to expand at a substantial growth rate during the forecast period, in which the GCC countries would account for a majority market share in the region.
Key Findings of the Study:
The Global Omega-3 PUFA Market is expected to register a growth rate of 01% from 2019 to 2025.
The docosahexaenoic acid (DHA) segment is estimated to maintain its prominent share, registering a growth rate of 06% during the forecast period.
On the basis of source, the marine sources segment is expected to hold a larger market share during the forecast period.
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