Published: May, 2018
The global omega 3 ingredients market portrays the presence of a highly competitive vendor landscape, thanks to existence of numerous players who are keen to expand their respective businesses through effective strategies, says Transparency Market Research on the basis of a recently published report. Most businesses have been present in this market for numerous years, and have relied on strategic mergers & applications as a key tool for attracting success. A majority of businesses are established in well-developed economies. The local players experience a substantial cutthroat competition due to the larger and bigger players operating in the market.
Of all the players operating in the global omega 3 ingredients market, Croda International Plc., BASF SE, and Koninklijke DSM N.V. are the most prominent ones as they generated a collective market share of 48.2% in 2014. PronovaBioPharma ASA, NU-MEGA Ingredients Pty Ltd., Omega Protein Corporation, and Ocean Nutrition Canada Limited are some of the other players operating in the global omega 3 ingredients market, apart from the ones mentioned earlier.
The global omega 3 ingredients market had raked in a revenue worth US$3.70 bn by 2016, which is further expected to grow up to US$7.49 bn by 2021. This growth is expected to occur owing to a stellar CAGR of 15.2% expected to occur from 2015 to 2021.
Higher Consumption of Omega 3 Rich Foods Boosts Market’s Expansion
An increasing rate of consumption of foods rich in omega proteins is one of the foremost factors that have been driving the global omega 3 ingredients market. This is mainly due to a rising awareness of health benefits associated with omega 3 acids, especially for treating diseases such as skin cancer, prostate cancer, asthma, and bronchial infections. Rapid urbanization has led towards an increase in number of people taking part in fitness-based activities. This has subsequently caused them to prefer nutrition in the form of omega 3 acids, thus making them consume foods rich in such nutrients, ultimately propelling growth in the global omega 3 ingredients market.
Less Availability of Omega 3 Rich Foods in Emerging Economies Dampens Growth
However, shortage of omega 3 rich foods in several underdeveloped and developing economies is highly restraining the market’s growth. Such a poor availability has caused a small consumer base who have can purchase these foods in these regions thereby leading towards a less awareness to exist. Large scale manufacturing of omega 3 rich foods is also a prime obstacle affecting the global omega 3 ingredients market. However, a rising interest is being showcased by several notable players to bring about a concrete establishment in such regions. This is expected to offset the restraints affecting the global omega 3 ingredients market up a certain extent during forthcoming years.
The information presented in this review is based on a Transparency Market Research report, titled, “Omega 3 Ingredients Market (Applications - Supplements and Functional Foods, Pharmaceuticals, Infant formula, and Pet and Animal Feed) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2021.”
Key segments of the Global Omega 3 Ingredients Market
Global Omega 3 Ingredients Market, by Application Type:
- Supplements and Functional Foods
- Infant formula
- Pet and Animal Feed
Global Omega 3 Ingredients Market, by Geography:
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
US Office Contact
90 State Street, Suite 700
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453