Growing awareness among consumers of the health benefits of omega-3 concentrates to further growth of the omega-3 concentrates market
NEW YORK, UNITED STATES, Nov. 25, 2022 /EINPresswire.com/ — The market for omega-3 concentrates was valued at $1,635.39 million in 2019 and is projected to reach $2,703.20 million by 2027 ; it is expected to grow at a CAGR of 6.6% during the forecast period.
Omega-3 concentrates refer to highly concentrated oils composed of EPA and DHA that add up to more than 50%. These concentrates are obtained from omega-3 rich fats processed to have EPA or DHA in higher concentrations. Omega-3 concentrates are derived primarily from oils such as fish oil, squid oil, and algal oil. These concentrates are also available in powder form and find their application in the manufacture of dietary supplements and are also used as pharmaceutical grade components. The plethora of health benefits and attributes offered by omega-3 concentrates are the main factors driving the market for omega-3 concentrates. However, lack of awareness and a large gap between usage and awareness restrict the lucrative growth of the omega-3 concentrate market.
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BASF SE; Alaska Omega; Golden Omega SA; K Pharmtech Co., Ltd; DSM Nutritional Products AG; Nordic Naturals, Inc.; Epax Norway; Norwegian fish oil; GC Rieber VivoMega; and Australian Omega Oils Pty. Ltd. are among the well-established companies in the omega-3 concentrate market.
Additionally, omega-3 concentrates help reduce depression and anxiety, improve eye health, reduce symptoms of metabolic syndrome, fight inflammation, help prevent cancer risks, and offer numerous other health benefits. Furthermore, the increasing incidence of cardiovascular disease, cancer and other similar health problems has also increased the demand for omega-3 concentrates worldwide.
The growing demand for omega-3 concentrates is attributed to increased awareness among consumers about the health benefits of omega-3 concentrates. The omega 3 concentrate offers numerous health benefits to consumers, including cardiovascular, eye and brain health. Increased health awareness among consumers helps in expanding the market. A large number of consumers are becoming familiar with the benefits of omega-3 concentrates. Nowadays, population all over the world is leaning towards a healthy lifestyle and is spending considerably on nutritional products. Omega-3 fatty acids help lower the risk of heart disease and are used along with exercise and diet to lower triglyceride levels and raise HDL cholesterol levels. The increased level of triglycerides in the blood promotes the development of arteriosclerosis, which eventually increases the risk of cardiovascular disease.
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North America is expected to hold the largest share of the global market for omega 3 concentrates during the forecast period. The North America region consists of developed economies such as the US, Canada and Mexico. Several national and international companies have a strong presence in the North American region. BASF SE, AlaskaOmega and Golden Omega SA are among the main players in the North American omega-3 concentrate market. These companies are constantly working to innovate and develop new omega-3 concentrate products with improved characteristics and qualities to attract new consumers and expand the consumer base in the region.
On the basis of form, the market for omega 3 concentrates is segmented into oil and powder. In 2019, the oil segment dominated the market. Omega-3 Concentrate is a highly concentrated oil that contains EPA and DHA with a combined concentration of over 50%. Omega-3 concentrates are obtained primarily from omega-3 rich oils that are further processed to obtain a higher concentration of EPA and/or DHA. These can be obtained from various omega-3 rich oils such as kelp oil, fish oil and squid oil. The richest and cheapest source of EPA/DHA is fish oil. Fish oil contains 30 to 60 different fatty acids. Fish oil is an industrial product of high nutritional value due to its content of long-chain omega-3 polyunsaturated fatty acids (PUFA), such as docosahexaenoic acid (DHA) and eicosapentaenoic acid (EPA), which are highly valued by its prophylactic properties and therapeutic properties in the fields of nutrition and health. In addition, the market for fish oils highly concentrated in omega-3 fatty acids for pharmaceuticals and supplements is growing.
Based on type, the market for omega-3 concentrates is segmented into triglycerides (TG), ethyl ester (EE) and phospholipids (PL). In 2019, the triglycerides segment dominated the market. Triglycerides are formed by three fatty acids linked to a glycerol backbone. This is the molecular form that forms virtually all oils and fats in plant and animal species. Unrefined fish oil comprises TGs with different amounts of DHA and EPA. Commercially available forms of TG usually undergo processing and purification by various methods.
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