Market Overview
Global Omega-3 PUFA market is expected to grow at the CAGR of 13.5%. Omega-3 poly unsaturated fatty acid (PUFA) is a type of necessary fatty acid which cannot be synthesized by human body which needs intake through omega-3 rich food. Omega 3 PUFA is used to enhance the cardiovascular and cognitive functioning of the human body. The ingredients of Omega-3 PUFA are sourced from the various fish oil, krill oil, chia seed, flex seed and other plant sources. Omega-3 PUFA has evolved as one of the vital nutritional ingredients for its various application such as supplements, fortified food products, nutritive drinks and others.
Key players in the global Omega-3 PUFA market are emphasizing to enhance investment in product development in order to extend the product line. Also, the companies are also inclined to increase their footprint across the world by acquiring local and regional players. Apart from that, the companies are introducing their products in the developing economies in order to penetrate in the untapped market.
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Major Key Players
Regional Analysis
The global Omega-3 PUFA Market is segmented into North America, Europe, and Asia Pacific along with rest of the world (RoW). Among these North America region holds the major market share in the global Omega-3 PUFA market both in terms of value and volume. This is attributed by the rising health conscious people in US and also presence of key players in the North America region. Also, key players are introducing new products in North America region in order to retain their existing customers and also to acquire new customers. Asia Pacific region is expected to grow immensely during the forecast period. The Asia Pacific market is driven by the increasing consumer awareness regarding the product as well as the growing chronic diseases in developing economies of Asia Pacific are propelling the growth of the Omega-3 PUFA market during the forecast period.
Key Findings
North America is projected to dominate the global Omega-3 PUFA market during the forecast period
Asia-Pacific region is expected to register maximum growth over the forecast period due to the increasing consumer demand for fortified and infant nutrition products
Industry Segments
Omega-3 PUFA has been segmented on the basis of source which includes animal source, plant source. Animal source can be sub-segmented such as fish oil, algal oil, krill oil and others. Also, plant source can sub-segmented such as chia seed, flex seed, hemp seed and others.
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