The India-based analytics firm counted DHA, EPA, and ALA types to estimate the market’s 11-digit value in 2020. The number also encompasses a variety of uses—dietary supplements, functional foods and beverages, pharmaceuticals, and infant formula.
Global compound annual growth rate (CAGR) is estimated to be 13.8% from 2015 to 2020. “The Omega-3 PUFA market is fuelled by the growing health awareness among consumers and the increasing incidences of chronic conditions such as blood pressure, diabetes, cardiovascular disease, and cancer,” the report said.
Evidence to drive growth
Among the variety of uses for omega-3, the report said that dietary supplements are estimated to lead the market both in value and volume.
Following is the infant formula application, which is estimated to grow at a comparatively higher CAGR. “The infant formula segment is growing due to the scientific evidence proving that Omega-3 fortified infant formula is beneficial for the overall development of infants,” the report said.
Another instance where scientific research pushing the market’s growth can be seen is in regional break-downs. “The Asia-Pacific region is projected to be the fastest-growing market for Omega-3 PUFA during the forecast period,” the report said. “The market here is driven by the increasing consumer awareness and growing incidences of chronic diseases such as high blood pressure, cancer, cardiovascular disease, and Alzheimer’s disease.”
Japan is expected to dominate this market due to a rapidly aging population and the growing incidences of chronic diseases.
DHA will thrive
According to the report, the DHA segment will have the “largest share in the Omega-3 PUFA market in terms of value and volume.”
“However, the EPA segment of Omega-3 PUFA is projected to grow at a comparatively higher CAGR,” the research firm said in a press release. Their study argued that the more sustainable sources for DHA and EPA made the two the preferred choice over ALA from consumers and manufacturers.
“Growing research and consumer usage, along with the potential health benefits of DHA to support the body’s natural anti-inflammatory response, which benefits heart health, brain health, mood, and a variety of other conditions are driving the demand for DHA,” the study said.