[Global] Increasing consumer awareness about healthy eating and balanced diet is one of the major factors driving the demand for omega 3 ingredients globally. Algae, fish oil, krill and squid are rich source of omega 3 fatty acids such as EPA and DHA. With the rising consumer health consciousness and awareness regarding the benefits associated with the consumption of omega 3 fatty acids is driving the demand for omega 3 ingredients globally. Consumption of omega 3 fatty acids helps to prevent cancer, arthritis, and heart diseases. Furthermore, omega 3 fatty acids such as EPA and DHA also help in prevention of cancer of prostate, colon, and breast. Omega 3 fatty acids also play an important role in the development of brain and health of infants. Krill oil supplements play a vital role in the overall development of infants. Consumers have started to include food products enriched in omega 3 fatty acids due to increasing awareness about healthy food. Furthermore, consumption of diet enriched in omega 3 fatty acids on a day-to-day basis lowers inflammation, a major component in asthma.
The global omega 3 ingredients market has been segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. Omega 3 ingredients demand in these regions, based on revenue (USD million) and volume (Tons) are covered under the scope of this report. Additionally, current and future trends in the omega 3 ingredients market are covered in the report.
North America held the leading position in the global omega 3 ingredients market in 2014, followed by Europe and Asia Pacific. Increasing health awareness, rising disposable income, and growing consumer expenditure on healthy food products is positively affecting the demand for omega 3 ingredients globally. Increasing awareness about healthy lifestyle is boosting the demand for omega 3 ingredients in the Middle East and Africa and Latin America.
Supplements and functional food is the largest segment in terms of revenue and is expected to dominate the omega 3 ingredients market globally during the forecast period. . Rising information regarding the benefits associated with consuming omega 3 fatty acids enriched supplements and functional foods, is fueling the market for omega 3 ingredients globally. In addition, infant formulation segment is also showing promising growth in the omega 3 ingredients market globally. With the growing information regarding the benefits of omega 3 fatty acids, consumers are opting active omega 3 ingredients as a daily diet. Omega 3 fatty acids such as EPA, ALA and DHA are essential pet and animal health. Pets with auto-immune, inflammatory and allergic conditions are in need of omega 3 fatty acids. Supplements high in omega 3 fatty acids are beneficial for pets and animal health.
Omega 3 ingredients are primarily derived from fish oil. Consumer perception regarding smell and taste of fish oil is the major factor hampering the omega 3 ingredients market. Fish oil has a very distinct smell. Many people, especially in North America and Europe, refrain from using fish oil owing to its foul taste and smell. Technological advancement has enabled better encapsulation of omega 3 ingredients. This has resulted in higher scope for usage in various applications such as food and beverage industry.
Improvement in the standard of living is propelling the demand for omega 3 ingredients globally. Growth in health awareness is also driving the market for omega 3 ingredients globally. With the rising awareness for healthy living, consumers are showing preference for omega 3 supplements high in DHA and EPA fatty acids. Daily consumption of omega 3 supplements promotes the maintenance of good health condition. Furthermore, it is beneficial for brain function and cardiovascular health. Moreover, it is also beneficial for nerves, brain and eyes in adolescent and children.
Koninklijke DSM NV, BASF SE, Croda International plc., NU-MEGA Ingredients Pty Ltd., Pronova BioPharma ASA, Omega Protein Corporation and Ocean Nutrition Canada Limited among others have strong global presence in omega 3 ingredients industry.