Dover, DE -- (SBWire) -- 04/26/2016 --EPA/DHA Ingredients Market Size is likely to be worth USD 3.79 billion by 2022; as per a new research report by Global Market Insights, Inc. Increasing trend towards nutrient fortified diet owing to health benefits offered for consumer lifestyle diseases is likely to favor EPA & DHA ingredients market growth.
Dietary supplements accounted for over 65% of the total omega 3 ingredients market in 2014. Growing consumer awareness for adopting proactive self care measures to reduce illness probability and consuming supplements to avoid expensive medical bills is likely to positively influence EPA/DHA ingredients demand.
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Functional foods accounted for over 11% of the total EPA & DHA ingredients market share in 2014, with consumption estimated at approximately 10.5 kilo tons. This application is likely to attain significant gains during the forecast period.
FDA approval towards health claims for coronary heath diseases (CHD) and American Dietetic Association for suggestion of minimum intake at close to 500mg per day is likely to favor omega 3 market size.
EPA/DHA ingredients market price may climb up owing to shortage of Peruvian Anchovy due to limited fishing of this type, which forms the major raw material source. Consumer perception towards foul taste & smell of fish oil along with vegetarian population is likely to inhibit growth. Technology innovation for encapsulation and improving extraction is likely to support growth avenues and favor omega 3 ingredients demand.
Key insights from the report include:
Global EPA/DHA ingredients market size was evaluated at 93.69 kilo tons in 2014 with forecast to attain growth rate at 5.4% up to 2022 and reach 142.5 kilo tons.
North America, with dominated U.S. consumer presence, was the leading regional industry in 2014 and accounted for over 36% of the total demand. Pharmaceutical application in North America EPA/DHA ingredients market size generated revenues worth approximately USD 86 million in 2014.
Functional food application in North America accounted close to 10% of the total demand and is expected to be an attractive growth segment for this industry over the forecast period.
China omega 3 market accounted for over 10% of the total demand in 2014 and is likely to significantly grow during the forecast period. Dietary supplement application was dominant in China and is likely to witness highest CAGR at 6.1% up to 2022.
EPA/DHA ingredients market share represents moderate consolidation with top four key players accounting for close to 54% of the demand. This industry may witness mergers & acquisitions and strategic tie-ups for technology sharing and increasing regional presence. Key players include DSM, Omega Protein, Croda, Pronova, BioProcess Algae, Lonza, Martek and EPAX.
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EPA/DHA (Omega 3) Ingredients Market Size Worth USD 3.79 Billion by 2022: Global Market Insights, Inc.
EPA/DHA (Omega 3) Ingredients Market Size By Application (Dietary Supplements, Pharmaceuticals, Functional Foods, Pet & Animal Feed, Infant Formulas), By Source (Anchovy/Sardine, High Concentrates, Medium Concentrates, Low Concentrates, Algae Oil, Tuna Oil, Cod Liver Oil, Salmon Oil, Krill Oil, Menhaden Oil), Industry Analysis Report, Regional Analysis, Application Potential, Price Trend, Competitive Market Share & Forecast, 2015 – 2022