Omega-3 Pufa Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Omega-3 Pufa Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The global omega-3 PUFA market is growing at a CAGR of 8.2% during the forecast period (2022-2027).

COVID-19 had a significant effect on the omega-3 PUFA market. The buying pattern of consumers changed during the pandemic. This was because of the consumer's interest in healthy, nutritious food raised. The products that contain omega-3 PUFA were found in the top preference of the consumers because consumption of such products helps in improvising health physically and mentally. For instance, Archer Daniels Midland Company, which is one of the key players in this industry, has estimated a growth of 76% in the first quarter of fiscal 2021.

The market growth is fueled by factors such as rising consumer awareness of the health benefits associated with omega-3 PUFA. The sector is also gaining importance and becoming a part of the consumer’s daily diet owing to the increased prevalence of people taking preventive healthcare measures.

The rising application of omega-3 PUFA in industrial sectors is eventually driving the growth of this market globally. As the consumers are getting aware of their health, therefore, the majority of consumers prefer the omega-3 contained product as their base need supplement.

Omega-3 PUFA Market TrendsIncreasing Demand for EPA Contained Food

The demand for Eicosapentaenoic acid is rising among consumers, which is one of the several omega-3 fatty acids. This is due to the fact that EPA can help in preventing and reversing heart disease, and consumption of these products can help in decreasing irregular heartbeats, which include inflammation, peripheral artery disease, major coronary events, and anticoagulation. Thus, the consumer consciousness towards a healthier lifestyle is eventually dragging the per capita spending towards this specific market. Some of the most common foods that contain Eicosapentaenoic acid are cold-water fish, nuts, seeds, and plant-based oil. The health benefits gained by EPA are majorly preferred by consumers worldwide. Thus, this factor is driving the market tremendously.

Asia Pacific is the Fastest-Growing Market

Asia- Pacific is the fastest-growing region for the omega-3 ingredient market, with major markets in China and Japan. China is the largest market, followed by Japan and Australia. The strong manufacturing base, increasing middle-class population, disposable income, and health awareness are fueling the market for omega 3 PUFA, especially the consumption of EPA and DHA ingredients in China. The high birth rate and the recent abolition of the one-child policy in China are expected to fuel the demand for DHA-based ingredients for infant nutritional formulae. Infant formulae followed by dietary supplements are two major application areas in the Chinese EPA and DHA market. The dietary supplements sector in the China marketplace is expected to emerge as a lucrative application sector for EPA and DHA ingredients amid an increase in discretionary spending.

Omega-3 PUFA Market Competitive Analysis

The market studied is competitive in nature. This is because of the presence of numerous domestic and international players in this segment. Some of the key players in this industry are Croda International Plc, Archer Daniels Midland Company, Corbion NV, BASF SE, and Cargill, Incorporated. Key players are majorly focusing on product development and product innovation to meet the consumer's needs by offering a variety in taste and in product quality to maintain premiumization. Some of the major players use mergers and acquisitions as their key strategy.

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• The market estimate (ME) sheet in Excel format
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