Pronova BioPharma

Mar 20, 2023

The market for omega 3 ingredients is expected to expand at a CAGR of 10.5%, during 2023-2030. Supplements & functional foods was the largest segment in the global omega 3 ingredients market in 2022, and the trend is expected to remain the same during the forecast period. Growing lifestyle and age-related diseases in North America and Europe is subsequently fueling growth of the supplements & functional foods segment. Also, emerging economies in Asia Pacific, Latin America, and Africa are fueling demand for omega 3 ingredients for application in the flourishing pharmaceuticals industry. Various research studies have established a link between consumption of fatty fish and lowering of coronary heart diseases. For instance, fish oils are used as a supplement to balance the required dietary intake of eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA). Also, fish oil is commonly recommended as a supplement product for people who have had a myocardial infarction by the American Heart Association, World Health Organization (WHO), the National Heart Foundation of Australia and National Health and Medical Research Council (NHMRC). Market Dynamics: Increasing consumer health awareness about the benefits associated with the consumption of omega-3 fatty acids such as DHA and EPA are major factors fueling growth of the global omega-3 ingredients market. Omega-3 ingredients are also linked with lowering prevalence of cancer, heart diseases, and arthritis. Cancers of the prostrate, colon, and breast can be lowered with the intake of omega-3 ingredients. Also, omega-3 ingredients play a major role in brain development of infants, which is a major factor propelling growth of the global omega 3 ingredients market. Low public awareness about the types of omega 3 fatty acids and their benefits will restrict growth of the global omega-3 ingredients market. Negative consumer perception about the smell and taste of omega-3 ingredients is also expected to restrict the growth of the market. Technological advancements and product innovation is expected to fuel the market for omega 3 ingredients during the forecast period. Key features of the study: This report provides in-depth analysis of the global Omega 3 Ingredients market and provides market size (US$ Billion) and Cumulative Annual Growth Rate (CAGR) (%) for the forecast period (2023 - 2030), considering 2022 as the base year It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market This study also provides valuable insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players It profiles leading players in the global Omega 3 Ingredients market based on the following parameters - company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments, and strategies and future plans Key companies covered as a part of this study include, Koninklijke DSM NV , BASF SE, Croda International Plc., NU-MEGA Ingredients Pty Ltd., Pronova BioPharma ASA, Omega Protein Corporation, and Ocean Nutrition Canada Limited Insights from this report would allow marketers and the management authorities of the companies to make informed decisions with respect to their future product launch, technology upgrade, market expansion, and marketing tactics The global Omega 3 Ingredients market report caters to various stakeholders in this industry, including investors, raw material manufacturer, end-users, distributors, new entrants, and financial analysts Stakeholders would greatly benefit in decision making through the various strategy matrices used in analyzing the Omega 3 Ingredients market Detailed Segmentation: Nuts and Seeds ALA Infant Formula North America