IndustryARC News Chemicals Omega-3 PUFA Market Size Forecast to Reach $7.3 Billion by 2026
Chemicals

Omega-3 PUFA Market Size Forecast to Reach $7.3 Billion by 2026

Omega-3 PUFA market size is forecast to reach $7.3 billion by 2026, growing at a CAGR of 9.8% during the forecast period 2021-2026. Omega-3 PUFA is a dietary fat offering various health benefits that reduce the risk of developing arthritis. It fights against inflammation and makes the immune system stronger. Docosahexaenoic acid, Alpha-Linolenic acid, and Eicosapentaenoic acid are some of the types of Omega-3 PUFA among others. It has various applications in nutraceuticals, pharmaceuticals, and dietary supplements among others. Increasing awareness of the consumers regarding the health benefits and increasing awareness about infant nutrition products are the major factors driving the growth of the market. The increasing prevalence of vegetarian consumers and increasing prevalence of chronic diseases is set to further enhance the overall market development of the Omega-3 PUFA Market for the period 2021-2026.

Key Takeaways

  • North America dominated the Omega-3 PUFA Market in 2020 owing to the increasing health awareness and increasing the adoption rate of nutritional supplements. The Omega-3 PUFA Market scope for different regions will be provided in the final report.
  • Increasing incidences of chronic diseases and increasing usage of dietary supplements are likely to aid the market growth of the Omega-3 PUFA Market report.
  • Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be Omega-3 PUFA Market report.
  • Higher price of the omega-3 PUFA and increasing competition is poised to create the hurdles for the Omega-3 PUFA Market.

Omega-3 PUFA Market Segment Analysis – By Type

Docosahexaenoic acid held the largest share in the Omega-3 PUFA Market in 2020 and is estimated to grow at a CAGR 8.7% during the forecast period 2021-2026. This is owing to the increasing awareness regarding the functionalities of omega-3 PUFA. Docosahexaenoic acid plays a major role in the growth along with the development of the new born baby. It also help in normal functioning of adult brains. Eicosapentaenoic acid is one of the omega-3 fatty acids and is found in salmon. It helps in lowering the risk of the heart disease. Eicosapentaenoic acid are estimated to register the higher CAGR over the period 2021-2026.

Omega-3 PUFA Market Segment Analysis – By Application

Dietary Supplements held the largest share in the Omega-3 PUFA Market in 2020 and is estimated to grow at a CAGR 10.4% during the forecast period 2021-2026. This is owing to the increasing awareness regarding the consuming capsules for omega-3, and increasing incidences of cardiovascular diseases. Increasing awareness regarding the reduction of calorie intake is also increasing the growth of the segment. Pharmaceuticals segment is increasing owing to the inflammatory properties of the omega-3 for treating depression, and cancer. Dietary Supplements are estimated to register the higher CAGR over the period 2021-2026.

Omega-3 PUFA Market Segment Analysis – By Geography

North America dominated the Omega-3 PUFA Market with a major share of 35.3% in 2020. This is attributed to the increasing research & development, and increasing penetration of improved medication. Increasing consumption of dietary supplements, increasing health benefits of omega-3 PUFA, increasing healthcare expenditure, and improving healthcare infrastructure is increasing the growth of the market in this region.

However, Asia Pacific is estimated to grow at a higher CAGR during the forecast period 2021-2026 owing to the increasing healthcare awareness, and rising cultivation of krill fish. Rising intake of oil, increasing production technologies, increasing incidences of the chronic diseases, increasing demands for functional and nutritional foods along with the increasing healthcare expenditure is increasing the growth of the market in this region.

Omega-3 PUFA Market Drivers

Increasing Prevalence of Cardiovascular Diseases

Increasing prevalence of cardiovascular diseases is increasing the growth of the Omega-3 PUFA Market. Some of the major factors of cardiovascular disease includes unhealthy diet, usage of tobacco, and physical inactivity among others which raises the blood pressure and blood glucose causing overweight and obesity. According to WHO, incidences of the cardiovascular deaths are increasing owing to heart attacks and strokes. Thus, increasing the growth of the Omega-3 PUFA Market during the forecast period 2021-2026.

Rising Prevalence of Chronic Diseases

Rising prevalence of chronic diseases is increasing the growth of the Disposable Negative Pressure Wound Therapy Devices Market. The leading cause of death around the world can be attributed to the chronic diseases. It is estimated that around 29% of the deaths are owing to the chronic diseases and 40.5% of the population of U.S. suffer from chronic diseases. Thus, increasing the growth of the Disposable Negative Pressure Wound Therapy Devices Market during the forecast period 2021-2026.

Omega-3 PUFA Market Challenges

Higher Price of the Omega-3 PUFA and Increasing Competition

Some of the factors that are set to impede the growth of the Omega-3 PUFA Market are higher price of the omega-3 PUFA and increasing competition. Stringent government regulations and the absence of daily intake of nutritional products is set to hinder the growth of the market during the forecast period 2021-2026.

Omega-3 PUFA Market Landscape

Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Omega-3 PUFA Market. In 2020, the Omega-3 PUFA Market share is consolidated by the top ten players present in the market. The Omega-3 PUFA Market, top 10 companies are Cargill, BASF SE, Polaris, Arjuna Natural, Omega Protein Corporation, Pelagia AS, Croda, DSM, and Lonza among others.

For more Food and Beverage Market reports, please click here

Exit mobile version