Growing health awareness and need for innovative products will bolster demand, finds Frost & Sullivan's Visionary Science Practice team
SANTA CLARA, California, Feb. 7, 2017 /PRNewswire/ -- Consumer preferences are compelling omega-3 ingredient manufacturers to create different consumer-facing application segments. Furthermore, rising health consciousness and awareness of the benefits of omega-3 (EPA & DHA) are driving the introduction of technologically advanced products for consumer applications, including pharmaceuticals, dietary supplements, infant formula, food & beverages, and pet foods.
Analysis of Global Omega-3 EPA+DHA Ingredients Market is part of Frost & Sullivan's Visionary Science Growth Partnership Service program, which identifies opportunities to enable participants to align their business model, products and services to succeed. The global omega-3 Eicosapentaenoic acid (EPA) and Docosahexaenoic acid (DHA) ingredients market is forecast to be worth $2,614.1 million by 2021, with dietary supplements and infant formula projected to see the highest demand in the Asia-Pacific region, followed by North America and Europe. This study examines how changing analysis of the existing technology trends and market-leading products such as Aker Biomarine's Flexitech™, Polaris's QUALITYSILVER®, DSM's 3C, and Croda's PureMax™ reveals best practices and novel opportunities.
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"There is a huge unmet need in the infant and pregnant women nutrition market worldwide, and omega-3-rich product manufacturers must show agility to gain first-mover advantage and major share in the market," said Frost & Sullivan Visionary Science Practice Industry Analyst Arun Ramesh. "Innovative technology, superior purity and quality ingredients—and offering varied omega-3 concentrates for different end-application segments—will enable omega-3 EPA+DHA ingredients manufacturers to set themselves apart from competitors."
Despite strong potential, the omega-3 EPA+DHA ingredients market must overcome some restraints to gather momentum:
- Insufficient/low promotion; sales have been slow due to the patent expiry of Lovaza and social media-driven misconceptions about omega-3
- Scarcity of natural omega-3 sources like fish, krill and algae due to global warming
- Lax standards for recommended dietary intake in most developing nations
"Omega-3 EPA+DHA ingredient manufacturers must continuously expand their capabilities through acquisitions, expansions and product launches to meet growing emerging market needs," observed Ramesh.
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Analysis of Global Omega-3 EPA+DHA Ingredients Market
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