Trending News: Omega 3 PUFA Market Size, Share, Trends, Growth, Analysis, Research
Global Omega-3 PUFA Market: Key Highlights
- According to the new market research report “Omega-3 PUFA Market by Type (Docosahexaenoic Acid, Eicosapentaenoic Acid, Alpha-Linolenic Acid), by Source (Plant, Marine), by Application (Dietary Supplements, Pharmaceuticals, Cosmetics & Personal Care, Functional Foods & Beverages, Animal Nutrition, and Others), by Region (North America, Asia Pacific, Europe, Middle East & Africa, South America) — Global Forecast (2019 to 2027)”, the global Omega-3 PUFA market is projected to reach a value of USD 10.61 billion, registering a CAGR of around 12% during the review period
- Omega-3 PUFA are found from plant and marine sources. These sources include fish oil, walnuts, flax seeds, chia seeds, and others
- Consumption of omega-3 PUFA reduces the risks for coronary artery disease, heart disease, and stroke by lowering the triglycerides production
- The US Food and Drug Administration recommends omega-3 PUFA consumption of around 3g/day of EPA and DHA combined, including up to 2g/day from dietary supplements
- However, side effects associated with the high dosage of omega-3 PUFA is a key restraining factor
Global Omega-3 PUFA Market: Key Market Dynamics
- Health benefits offered by the consumption of omega-3 PUFA is a key driver of the global omega-3 PUFA market
- Omega-3 PUFA is known to prevent diseases such as cardiovascular, cancer, Alzheimer’s, age-related macular degeneration, rheumatoid arthritis, and dry eye diseases to name some
- Also, it fights depression, anxiety, autoimmune diseases, and promotes brain health, among others
- Its use in cosmetics & personal care products is yet another major factor responsible for the growth of the global omega-3 PUFA market
- It is extensively used in moisturizing creams and lotions, bar soaps, lipsticks, shampoos, etc.
- Increasing consumer consciousness regarding looks and appearance has resulted in increased sales and production of cosmetics & personal care products
- Penetration of e-commerce sales and on-time delivery plays a vital role in the high sales of cosmetics & personal care products
Global Omega-3 PUFA Market: Regional Overview
- North America
The North American market is expected to witness high demand for Omega-3 PUFA owing to the rising prevalence of cardiovascular diseases and cancer. According to the American Heart Association, cardiovascular disease was listed as the underlying cause of death, accounting for 840,678 deaths in the US in 2016.
According to the Cosmetics Europe, the European cosmetics & personal care market was valued at USD 90 billion in 2018. The organization states that there are approximately 77 scientific innovation facilities in Europe to carry out research in regards to cosmetics and personal care products.
Figure: TOP EUROPEAN MARKETS FOR COSMETICS & PERSONAL CARE PRODUCTS, 2018
Source: Cosmetics Europe
Thus, the high demand from the cosmetics & personal care industry is expected to drive the Omega-3 PUFA market in the European region.
Global Omega-3 PUFA Market: Key Players Overview
- BASF SE:
BASF SE is one of the leading chemicals company and operates through six business segments: chemicals, materials, industrial solutions, surface technologies, nutrition & care, and agricultural solutions. Its products portfolio includes chemical, automotive, construction, agriculture, oil, plastics, electrical, electronics, furniture, and paper industries, and provides a range of system solutions and services. In June 2018, BASF and Xerion entered into a three-year agreement, under which BASF’s human nutrition brand, Newtrition will have the exclusive distribution rights to market PUFAcoatTM Omega-3 Index test kits offered by Xerion’s proprietary dried blood spot technology.
- Cargill, Incorporated:
Cargill, Incorporated provides agricultural products and operates its business through the following segments: food ingredients & bio-industrial, animal nutrition, protein & salt, agricultural supply chain, and metals & shipping. In August 2019, Cargill received approval from the US Department of Agriculture for the cultivation of its proprietary canola producing omega-3. This was the company’s strategy to commercialize an alternative ingredient for the use in aquaculture feed.
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