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EPA & DHA Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The global EPA & DHA market is projected to grow at the CAGR of 8. 26% during the forecast period (2020 - 2025). Globally, EPA and DHA have been gaining importance and are becoming a part of the consumer’s daily diet.
New York, June 14, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "EPA & DHA Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" - https://www.reportlinker.com/p06241300/?utm_source=GNW
The key reasons for this change have been the increased prevalence of lifestyle diseases and people taking preventive healthcare measures. Moreover, the emerging applications of EPA and DHA in food, dietary supplements, and clinical nutrition have been further stimulating market growth.
New sources of EPA and DHA have been hitting the headlines recently. Microalgae, a source rich in omega-3 and beta-carotene, has gained immense popularity among the manufacturers as a sustainable source of food and fuel.
By application, dietary supplements continued to claim its dominance in the industry with constant support provided by health ministries and regulatory bodies for its promotion. The increasing number of product approvals, comprising EPA and DHA as major ingredients by the FDA, have enabled more dietary supplement manufacturers to enter into the market studied, further aiding the overall market studied.
In 2019, FDA approved the health claims for EPA and DHA omega-3 consumption in the labeling of conventional foods and dietary supplements, about reducing the risk of hypertension and coronary heart disease.
Key Market Trends
Docosahexaenoic Acid (DHA) Dominated the Market byType
The DHA segment is majorly driven by the rising demand and its incorporation in infant formulae and nutritional products targeting children’s health, as it is an essential building block for the growth and maturation of an infant’s brain and retina. It is mostly obtained from fish and algae oils. Additionally, it is extensively used in fortified foods and dietary supplements, where it is majorly used for treating Type 2 diabetes, coronary artery disease (CAD), dementia, and attention deficit-hyperactivity disorder (ADHD). The healthy aging-related benefits of DHA have also led to their successful utilization in geriatric nutrition products. Furthermore, an increasing number of product launches across the world is favoring the industry growth. For instance, Organic Technologies, in 2017, launched two new DHA omega-3 concentrates to its line of AlaskOmega fish oils and concentrates—a high DHA concentrate, and a medium strength DHA (non-tuna) tuna oil alternative.
North America Dominated the EPA & DHA Market
The North America EPA and DHA ingredients market is primarily driven by innovations, both, in products and technologies. The leading players are investing in technological advancements, in order to get develop improved omega ingredients for wider applications. In October 2016, DSM launched a new process technology, 3C technology. The technology aids the manufacturers of omega-3 to produce highly concentrated ingredients (up to 85%). It also facilitates the manufacturers to customize the combinations of EPA and DHA for their application in pharmaceutical and dietary supplements. The trend of consumption of supplements instead of functional food is predominant in the region. Consumers prefer high concentrated dietary supplements to meet their nutritional requirements of DHA/EPA. Thus, driving the ingredient sector’s growth in the region.
Competitive Landscape
The global EPA and DHA market was moderately concentrated by few players, such as BASF SE, Croda International PLC, and Koninklijke DSM NV in 2019. Many small companies started commercial production of EPA and DHA, only to be acquired by larger players as a competitive strategy for major companies are focussing on investment in research and development to compete in the emerging market. Moreover, during the last few years, various global companies have become active in the global EPA and DHA market with tactical acquisitions, mergers, and partnerships. For instance, in 2017, Veramaris (established 50:50 joint venture between DSM & Evonik) in order to produce omega-3 fatty acids (containing rich amounts of EPA and DHA) derived from natural marine algae for animal nutrition. The other major players in the market are forming partnerships with different end-user industries, such as food and beverage, dietary supplements, and others primarily due to the increasing demand for sustainably sourced Omega-3 fortified food products as well as dietary supplements.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06241300/?utm_source=GNW
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