OMEGA-3 PRODUCTS MARKET ANALYSIS

Market Challenges And Opportunities

Global Omega-3 Products Market Drivers:

Health benefits associated with omega-3 consumption to propel market growth

Eicosapentaenoic acid and docosahexaenoic acid are the most widely used omega-3 ingredients in the pharma industry. They are used to treat a number of chronic diseases and conditions, such as depression, arthritis, and atherosclerosis. The demand for these fatty acids is expected to increase as the global population grows older and more people suffer from chronic illnesses. Docosahexaenoic acids are vital for the human body, as they are responsible for cellular communication. They play a crucial role in the immune system, as well as other aspects of the body’s structure and function. They also help fight the effects of stress, cancer, aging, and depression.

Technological evolutions for better production of omega-3 products to foster market growth

Key players in the market are increasingly spending on research and development activities to integrate technology that will improve the bioavailability of omega-3 in the body. For instance, in October 2019, Pharmako Biotechnologies launched a new Aquacelle self-emulsifying drug delivery system that boosts oral omega-3 absorption by six-fold compared to the standard fish oil for oral consumption.

Global Omega-3 Products Market Opportunities:

Various companies are focusing on introducing quality-based snacking food products for health-oriented consumers. Key players are highly focused on launching functional food and beverage products due to shifting consumer preference towards ready-to-eat snaking food such as cookies, snack bars, and others. For instance, Omega3 Innovations offers a range of omega 3 cookies, omega 3 bars which are coated with chocolate and infused with EPA and DHA ingredients. This is expected to provide significant growth opportunities for key players.

Growing demand for omega-3 in personalized nutrition is projected to offer significant growth opportunities. According to Cambridge Diagnostic Imaging (CaDi), the female fertility market serve major opportunity for the nutrition industry to offer targeted, personalized supplements that could increase birth rates and health in pregnancy. Spotting the opportunity, in 2020, Cambridge Diagnostic Imaging (CaDi) introduced two potent DHA omega 3 supplements, one designed to preserve ovarian health in women and a second to prepare them for egg retrieval and IVF. The supplements can be accompanied by AI technology that customizes and traces treatment for each patient.

Global Omega-3 Products Market Restraints:

Gap between omega-3 awareness and omega-3 products usage to restrict market growth

For instance,  according  to  GOED  2017,  a  global  organization  for  the  EPA  and  DHA  omega-3  industry, recommendations from doctors and product quality are the two main factors hampering the consumption of omega-3 products in Europe. In the United Kingdom, 63.5% of the consumers put recommendations from the doctors as a top factor, followed by 85.1% in Turkey, 61.9% in Russia, 83.6% in Spain, 71.4% in France, and others. However, increasing focus of key players on introducing omega-3 based functional food and beverage is expected to favor the market growth.

Negative impact of covid-19 on the global economy to hamper market growth

The COVID-19 outbreak has negatively impacted the omega 3 products market worldwide. The disruption in value chain, including workforce at industrial level,    distribution, trade and logistics, raw material supply, production, and inventory levels across the overall food and beverage industry has hampered the demand for omega-3 based products.