Global Omega-3 Product Market - Segmented by Type, Application, and Geography (2017 - 2022)
|出版商||Mordor Intelligence LLP||商品編碼||572854|
|出版日期||內容資訊||英文 100 Pages
|全球Omega-3脂肪酸產品市場:各類型、用途、地區(2017年∼2022年) Global Omega-3 Product Market - Segmented by Type, Application, and Geography (2017 - 2022)|
|出版日期: 2017年08月01日||內容資訊: 英文 100 Pages||
The Global Omega-3 product market was valued at USD 34.1 billion in 2015 and is projected to reach USD XX billion by 2022, registering a CAGR of XX% during the forecast period of 2017-2022. Omega-3 products consist of Eicosapentanoic acid (EPA) and Docosahexanoic acid (DHA) based products.
Royal DSM and Evonik announced a joint venture for production of omega-3 fatty acid from marine algae in March, 2017. This joint venture value is around USD 200 million (each will contribute for USD 100 million), and each of them hold a 50% share. It is estimated that the initial annual production capacity will be sufficient to capture roughly 15% of the total annual demand for omega 3 fatty acid industry. This joint venture will come to the market with a name as Veramaris in The Netherland.
The global Omega-3 product market is being dominantly driven by the strong demand of infant formula products, in developing regions, such as China. The Omega-3 demand is growing at a faster rate in infant food fortification, as it provides the essential DHA for infant brain development. In addition, the global dietary supplement market is growing at a quick pace, which has further increased the demand of Omega-3 supplements. However, the major restraint for the market is the depleting fish population, the primary source of Omega-3. The other marine sources of Omega-3 are - krill oil, algae oil, other than fish. Algae sourced Omega-3 is the fastest growing segment, due to various factors. Omega-3 obtained from algae are considered as more bioavailable and sustainable for production, which are key considerations in the present scenario, where overfishing is a major problem. Another benefit associated with algae Omega-3 is that, it is suitable for the vegetarian label. Moreover, the product quality of algae Omega-3 is superior as compared to fish oil, because it is free from any toxic pollutants, in addition to high purity in terms of form of fatty acid, and off sensory properties. Another major restraining factor for the market growth is the high cost of product, due to higher downstream processing cost. However, with passage of time and due to technological advancements, its price is forecasted to reduce, which can make the product highly competitive.
The market has been segmented based on type, concentration type, application type, and geography. Commercially, there are two types of essential Omega-3 fatty acids - Eicosapentanoic acid (EPA) and Docosahexanoic acid (DHA). DHA holds the largest share in the market, due to its high demand in infant formula products and legal recommendations. EPA-based products are the fastest growing segments, supported by the various health benefits, which has increased its importance in drug formulation. Based on concentration type, the market is divided into high concentrated, concentrated, and low concentrated products. Currently, low concentrated and concentrated Omega-3 products are capturing the market. The growing awareness among consumers regarding the daily dosage of Omega-3 has focused the demand of high concentrated products. Based on application, the market is segmented into infant formula, dietary supplements, fortified food & beverages, clinical nutrition and medical foods, pharmaceuticals, and animal nutrition. The infant formula segment is poised to grow with a CAGR of 8.2% during the forecast period. Animal nutrition is anticipated to be another major growing segment, due to increased health concern among pet owners.
The global Omega-3 product market has been divided into North America, Europe, Asia-Pacific, South America, and Africa. Asia- Pacific is the fastest growing region, due to growing fortified food demand and increased consumer awareness. Japan and China are the significant markets in Asia- Pacific, captured by key domestic players. Asia-Pacific holds the major share in the Omega-3 product market, due to high infant formula consumption, followed by North America with a share of 32%. South America is another growing consumer of Omega-3 fatty acid, driven by the high consumption of fortified products.
Our report on the global Omega-3 product market covers the following