Bizizz Market Research has recently published a research report, “Omega-3 Market By product and services (Assay Kits, Instruments, and Services), Application (Cancer Application(Bladder, Breast (Female – Male), Colon and Rectal (Combined), Kidney (Renal Cell and Renal Pelvis), Cancer Lung (Including Bronchus), Melanoma, Prostate & Pancreatic and Others) and Non-Cancer Application), End-User (Hospitals, Academic & Research Centers, and Laboratories), Component, and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global Omega-3 Market was valued at US$ XX Bn in 2018 and it is anticipated to reach at market value of US$ 4.8 Bn by 2027, witnessing a CAGR of 8.3 % during the forecast period. Key drivers of the market are increased awareness on health benefits association with the consumption of Omega-3 that had fueled the demand omega-3 as an ingredient in pharmaceutical offerings. However, high cost associated with the Omega-3 products may hinder the growth of the market during the forecast period.
Omega-3 is associated with as a group of DHA, polyunsaturated fatty acids ALA and EPA that are abundant in seafood including shellfish (oysters, mussels, and crab) and fatty fish (trout, salmon, and tuna). These omega-3 fatty acids are necessary in different functions of the body by which it is highly demand in the market. Key factor that are driving the growth of global omega-3 market includes advantages of these omega-3 in reducing different illnesses, high demand by pharmaceuticals, Research & Development activities in the field of omega-3.
The Omega-3s market is anticipated to register a CAGR of over 8.3% during the forecast period.
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By Application, Dietary supplement segment held a key share in Global Omega-3s Market in 2018.
The dietary supplements segment leads the global market and is projected to rise at a considerable rate of CAGR during the forecast period. The presence of omega-3 in natural sources are not sufficient for the human body thus, demand for omega-3 as a dietary supplement is increasing. Hence, customers globally are shifting their preference towards Omega-3 dietary supplements capsules offering sufficient amount of omega-3 for consumption for a better physical and mental health. It is projected to generate lucrative opportunities in the market for the global dietary supplements during the forecast period.
By source, marine Segment of Global Omega-3s Market Is Anticipated to Witness the Fastest CAGR during the Forecast Period
In terms of source the marine segment is dominant in the market of Omega-3. The marine segment has accounted for significant market share in 2018. This is because of the abundant availability of DHA and EPA in the tuna and salmon fishes. But, it is not much sourced from the plants in the market.
North America is anticipated to dominate the Global Omega-3s Market during the Forecast Period.
The North American region dominates market share of Omega-3 offerings because of the increased consciousness of health by the customers. There is an increased demand for the fish oil in these North American countries in the recent years. Fish oil based omega-3 capsules are being accounted as high demand in the market.
Global Omega-3s market was moderately consolidated with key players accounting for significant share in 2018. Hence, there is a good competition among the existing players of the market.
Prominent players operating in the Global Omega-3s Market are Orkla Health, Epax, Croda International, Golden Omega, GC Rieber, Kinomega, Sinomega, Cargill, Epax, DSM, Polaris, Pharma Marine, Lonza, KD Pharma, Runke Bioengineering, Huatai Biopharm, Nordic Naturals, Algysis, BASF, Biosearch life, Corbion, and Orkla Health, among others.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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