Growing Awareness among the Consumers Regarding the Health Benefits of Omega-3 Concentrates To Escalate Omega-3 Concentrates Market Growth
NEW YORK, UNITED STATES, November 25, 2022 /EINPresswire.com/ — The omega-3 concentrates market was valued at US$ 1,635.39 million in 2019 and is projected to reach US$ 2,703.20 million by 2027; it is expected to grow at a CAGR of 6.6% during the forecast period.
Omega-3 concentrates refer to highly concentrated oils comprising the EPA and DHA that sum up more than 50%. These concentrates are obtained from omega-3 rich fats processed to have EPA or DHA in higher concentrations. The omega-3 concentrates are mainly derived from oils such as fish oil, calamari oil, and algal oil. These concentrates are also available in powdered forms and find their application in dietary supplement manufacturing and are also used as a pharmaceutical-grade component. The plethora of health benefits and attributes offered by omega-3 concentrates are the key factors driving the omega-3 concentrates market. However, the lack of awareness and a wide gap between the usage and awareness restricts the profitable growth of the omega-3 concentrates market.
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BASF SE; AlaskOmega; Golden Omega S.A.; K Pharmtech Co., Ltd; DSM Nutritional Products AG; Nordic Naturals, Inc.; Epax Norway; Norwegian Fish Oil; GC Rieber VivoMega; and Australian Omega Oils Pty. Ltd. are among the well-established players in the omega-3 concentrates market.
Moreover, omega-3 concentrates aids in reducing depression and anxiety, improves eye health, reduces the symptoms of metabolic syndrome, fights inflammation, helps prevent cancer risks, and offers various other health benefits. Further, the rising incidence of cardiovascular diseases, cancer, and other similar health issues has also augmented the demand for omega-3 concentrates worldwide.
Surging demand for omega-3 concentrates is attributed to the rise in awareness among consumers regarding the health benefits of omega-3 concentrates. Omega 3 concentrate offers various health benefits to the consumers, including cardiovascular, eye, and brain health. Rising health consciousness among consumers furthers helps in market expansion. A large number of consumers are becoming familiar with the benefits of omega-3 concentrates. Nowadays, the populace worldwide is inclined towards a healthy lifestyle and is spending considerably on nutritional products. Omega-3 fatty acids help lower the risk of heart disease and are used along with exercise and diet to reduce triglyceride levels and increase HDL cholesterol levels. Increased level triglyceride in the blood promotes arteriosclerosis development, which eventually increases the risk of cardiovascular disease.
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North America is expected to hold the largest share of the global omega 3 concentrates market during the forecast period. The North America region consists of developed economies such as the US, Canada, and Mexico. Several domestic and international companies have a strong foothold in the North American region. BASF SE, AlaskOmega, and Golden Omega S.A. are among the key market players present in the North America Omega-3 concentrates market. These companies are constantly working toward innovation and new product developments of Omega-3 concentrates with improved characteristics and qualities to attract new consumers and widen the consumer base in the region.
Based on form, the omega 3 concentrates market is segmented into oil and powder. In 2019, the oil segment dominated the market. The omega-3 concentrate is a highly concentrated oil that contains EPA and DHA with a sum concentration of more than 50%. Omega-3 concentrates are majorly obtained from omega-3 rich oils that are further processed to obtain a higher EPA and/or DHA concentration. These can be obtained from several omega-3 rich oils such as alga oil, fish oil, and calamari oil. The richest and the cheapest source of EPA/DHA is fish oil. Fish oil contains 30–60 different fatty acids. Fish oil is an industrial product of high nutritional value due to its content of long-chain omega-3 polyunsaturated fatty acids (PUFA), such as Docosahexaenoic acid (DHA), and Eicosapentaenoic acid (EPA), which is extremely valued for their prophylactic and therapeutic properties in nutritional and health fields. Moreover, the market for highly concentrated on omega-3 fatty acid fish oils for pharmaceuticals and supplements is growing.
Based on type, the omega-3 concentrates market is segmented into triglyceride (TG), ethyl ester (EE), and phospholipids (PL). In 2019, the triglyceride segment dominated the market. Triglycerides are formed of three fatty acids bound to a glycerol backbone. This is the molecular form that builds up virtually all oils and fats in plant and animal species. Unrefined fish oil comprises TGs with differing amounts of DHA and EPA. The commercially available TG forms usually undergo processing and purification by numerous methods.
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