Global Omega-3 Concentrates Market (2021 to 2027) - COVID-19 Impact and Analysis - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Omega-3 Concentrates Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Form, Source, Type, Concentration and End Use" report has been added to ResearchAndMarkets.com's offering.
The global omega-3 concentrates market was valued at US$ 1,635.39 million in 2019 and is projected to reach US$ 2,703.20 million by 2027; it is expected to grow at a CAGR of 6.48% from 2019 to 2027.
Omega-3 concentrates refer to highly concentrated oils comprising the EPA and DHA that sum up more than 50%. These concentrates are obtained from omega-3 rich fats processed to have EPA or DHA in higher concentrations. The omega-3 concentrates are mainly derived from oils such as fish oil, calamari oil, and algal oil. These concentrates are also available in powdered forms and find their application in dietary supplement manufacturing and are also used as a pharmaceutical-grade component.
The plethora of health benefits and attributes offered by omega-3 concentrates are the key factors driving the growth of the omega-3 concentrates market. However, the lack of awareness and a wide gap between the usage and awareness restricts the profitable growth of the omega-3 concentrates market. The increasing disposable income of the consumers in emerging economies of regions, such as the Asia Pacific, Middle East, and Africa, and South America, contributes to the market growth. Consumers in these regions are increasingly spending on dietary supplements and healthy foods due to the rising disposable income and improving lifestyles.
In addition to this, key players and suppliers actively involved in the supply chain of omega-3 concentrates are developing various strategies to expand the awareness regarding the health benefits associated with omega-3 enriched diets, which has widely and positively influenced the sales of omega-3 concentrates in the developing regions. Manufacturers are also offering gluten-free, and non-GMO omega-3 concentrates. For instance, Solgar Inc. offers non-GMO, gluten, wheat, and dairy-free omega-3 fish oil concentrates. Therefore, the product launches that can satisfy a broad spectrum of consumers are also amplifying the market progression.
- Awareness Among The Consumers Regarding The Health Benefits of Omega-3 Concentrates
- Increased Demand For Omega-3 Concentrates from End-User Segments
- Depleting Marine Population
- Usage of Omega-3 Concentrates in Pet Food
- Innovations and Developments in Omega-3 Concentrate Market
- BASF SE
- Golden Omega S.A.
- K Pharmtech Co., Ltd
- DSM Nutritional Products AG
- Nordic Naturals, Inc
- Epax Norway
- Norwegian Fish Oil
- GC Rieber VivoMega
- Australian Omega Oils Pty. Ltd.
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