Fish-Free Omega-3 Ingredients - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Fish-Free Omega-3 Ingredients Market is accounted for $0.59 billion in 2019 and is expected to reach $1.28 billion by 2027 growing at a CAGR of 10.2% during the forecast period. Increasing awareness and an ageing population are the major factors propelling the market growth. However, cluttered market behaviour and limited availability of omega 3 ingredients in high potential countries are hampering the market growth.
Fish-Free Omega-3 Ingredients are obtained from canola oil, flaxseed oil, chia seed oil, soybean oil, walnut oil, and mustard oil, among others. The pant sources for omega-3 ingredients only contain Alpha-Linolenic Acid (ALA), which is converted to Eicosapentaenoic Acid (EPA) and Docosahexaenoic acid (DHA) in the human body. In terms of potency, the vegan omega-3 is not as effective as fish oil, as it lacks EPA & DHA. Moreover, algal oil is as potent as fish oil and is also considered 100% vegan. This is due to the fish and other aquatic animals become rich in omega-3 by consuming and digesting algae, which itself is rich in DHA & EPA vital fatty acids.
Based on the application, the food & beverages segment is going to have a lucrative growth during the forecast period owing to the exceptional transformations related to health and healthy food. This factor is drawing consumer attention towards nutritious diet. The buyer’s knowledge regarding the food being consumed is surging above advantages of omega-3s and maintaining a balance between omega-6 and omega-3 in a regular diet. This is stimulating the growth in global Fish-Free Omega-3 Ingredients market.
By geography, Europe is going to have a lucrative growth during the forecast period due to the presence of leading players in the market which are adopting the strategy of investing heavily in research & development (R&D), and launching innovative ingredients, while conforming to the regulations. Manufacturers in the Fish-Free Omega-3 Ingredients market are riding on the coattails of the strong requirement for flax-based ingredients, particularly in the European region.
Some of the key players profiled in the Fish-Free Omega-3 Ingredients Market include Algaecytes Limited, Algisys LLC, Arista Industries Inc, Barleans Organic Oils, BASF SE, Cargill Incorporated, Cellana Inc, Croda International PLC, Denomega Nutritional Oils, Epax Norway, AS, Hero Nutritionals Inc, Koninklijke DSM N.V, and Natural Products Drugs GmbH.
• Alpha-Linolenic Acid (ALA)
• Docosahexaenoic Acid (DHA)
• Eicosapentaenoic Acid (EPA)
• Animal Feed
• Dietary Supplements
• Film- Stretch & Shrink
• Food & Beverages
• Infant Formulas
• Personal Care
• Polymer Modification
• Wires & Cables
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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