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The preventive approach to health and well-being has emerged as a significant trend reverberating in the global marketplace; the rise in the incidences of lifestyle disorders have prompted consumers and manufacturers to develop specialty nutrition products. One such nutrient that has risen to the greater prominence is essential fatty acids which by definition are those fatty acids that cannot be synthesized by humans and thus are required to be taken from external sources. The omega-3 fatty acids are a class of essential fatty acids especially known for its beneficial effects in cardiovascular disease risk.
The global market for omega-3 fatty acids is driven primarily by its increasing utilization in a variety of food products. Right from stand-alone omega-3 based dietary supplements to functional food & beverage products, pharmaceuticals, and infant formulas are known to employ omega-3 fatty acids in their different forms and types.
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The major impediment of the market is the unsustainable sourcing of the raw materials as mass-scale fisheries have detrimental impacts on the marine ecosystem. The opportunities for the future growth of the market lies in the exploitation of novel and sustainable sources such as marine algal or algae-like microbial oils, which also offer a suitable solution to mask taste and odor issues associated with fish oil.
Some of the key companies that are present in the global Omega-3 Fatty Acids market are Cargill Incorporated, Evonik Industries, Royal DSM, Seneca, Croda Health Care, Merck KGaA, Aristra Industries Inc., AdvoCare Pharma, NOVASEP, Terravia (Solazyme), Qualitas Health, and Arjuna Natural Extracts.
· Eicosapentanoic acid (EPA)
· Docosahexanoic acid (DHA)
· Alpha-Linolenic Acid (ALA)
· Marine Sources
o Krill Oil
o Algal Oil
· Plant Sources
o Canola Oil
o Soybean Oil
o Flaxseed Oil
· Dietary Supplements
· Functional Foods & Beverages
· Other Application
· North America (U.S., Canada, and Mexico)
· Europe (France, Germany, Italy, Spain, U.K., Russia, and Rest of Europe)
· Asia Pacific (China, India, Japan, Australia, and Rest of Asia Pacific)
· South America (Brazil, Argentina, and Rest of South America)
· Middle East & Africa (South Africa and Rest of MEA)
The plant-based sources are expected to lead the global omega-3 fatty acids market. The vegan trend and high bioavailability are some of the favorable factors for the growth of this segment. The contamination concerns for fish-oil based omega-3 fatty acids have prompted manufacturers of infant formulae to utilize plant-based sources. The infant formulas in the U.S. contain only Alpha-Linolenic Acid (ALA) and Docosahexaenoic acid (DHA) derived from algal or fungal sources, rather than fish oil. Moreover, the commercialization of the vegetative sources of omega-3 fatty acids has further boosted the plant-based segment.
North America and Europe are expected to remain prominent regional markets owing to the robust demand for supplements catering to cardiovascular health. Cardiovascular Disease (CVD) accounts for 45% of mortality in Europe and 37% of death in the EU as of 2017 according to the statistics by The European Heart Network (EHN). There is conclusive evidence suggesting the beneficial effects of eicosapentaenoic acid (EPA), docosahexaenoic acid (DHA), as well as alpha-linolenic acid (ALA) in maintaining cardiovascular health. The European Food Safety Authority (EFSA) has approved health claims on omega-3 fatty acids by setting a benchmark for enabling policy and regulatory framework. The beneficial effects of omega-3s also extend to joint and inflammation support, eye health, cognitive function, pregnancy, and healthy child development. The EPA and DHA Omega-3s are witnessing greater utilization in the United States, China, and Australia.
The Asia Pacific is projected to witness one of the fastest growth in the forthcoming years due to rising demand for omega-3 fatty acids from infant formulae sector, particularly from the countries like India and China. The robust sales performance of dietary supplements in the emerging markets of Asia Pacific is expected to facilitate the growth of omega-3 fatty acids.
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