Omega-3 fatty acids are beneficial to the brain and heart. EPA and DHA are different because of their specific functions in the body. DHA helps keep the brain healthy by promoting a positive mood, while EPA is more beneficial in the circulation. Both are equally important for the body's immune system.
Market Statistics:
The global EPA and DHA Market is estimated to account for US$ 1,626.10 Mn in terms of value by the end of 2021.
Global EPA and DHA Market: Drivers
Increasing availability of omega-3 solution for non-alcoholic fatty liver disease is driving growth of the EPA and DHA market. For instance, in November 2019, BASF and Ideogen collaborated to introduce an omega-3 fatty acid solution, named Hepacor, to the European market, especially in Switzerland. The product consists of concentrated eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA) to reduce the fat build-up in the liver by dietary management, known as steatosis in NAFLD patients.
Global EPA and DHA Market: Opportunities
The producers of omega ingredients have been expanding their product application and are entering the beverage segment this is expected to bring bright market opportunities for the key players in the near future. For instance, in October 2019, the Coca-Cola Company introduced dozens of its new beverages in the 2019 National Association of Convenience Stores (NACS) show. Among those, the company introduced its Gomega brand of superfusion beverage that featured 32mg of docosahexaenoic acid (DHA) omega-3s in its product formulation. The product was available in different flavors, including berry acai, strawberry guava, and mango passionfruit.
Global EPA and DHA Market: Restraints
Stringent regulation regarding nutritional claims of omega 3 in food products in North America is projected to restrict the market growth.
Global EPA and DHA Market - Impact of Coronavirus (Covid-19) Pandemic
The World Health Organization declared COVID-19 a pandemic on March 11, 2020, causing a huge impact on people’s lives, families, and communities. Due to this, governments have introduced multiple measures intended to slow down the spread of the virus. Some basic initiatives include social isolation directives, limitations on business opening hours, and travel restrictions. Its effect is witnessed in buying behaviour of consumers across the world. Consumers are seen buying more basic commodities, like staples, medics, and infant food, resisting the major market of EPA and DHA, that is, dietary supplements. However, the demand for immunity-boosting products has been rising among consumers, which is expected to uplift omega-3 fortified food and beverage in the market.
To know the latest trends and insights prevalent in the Global EPA and DHA Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/epa-and-dha-market-5200
Key Takeaways:
The global EPA and DHA market was valued at US$ 1,626.10 Mn in 2021 and is forecast to reach a value of US$ 2,710.00 Mn by 2030 at a CAGR of 6.76% between 2022 and 2030.
Docosahexaenoic Acid (DHA) segment held dominant position in the global EPA and DHA market in 2020, accounting for 79.00% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.
Global EPA and DHA Market Trends:
Algal oils are gaining popularity and becoming a part of the consumer’s daily diet. This is attributed to the increased prevalence of lifestyle diseases. Algae oil is witnessing high demand as a source of EPA and DHA in functional and fortified food.
Use of EPA and DHA in infant formula is becoming a trend. The infant formula segment is witnessing strong growth. Most products in the market are available today as a combination of EPA and DHA, due to their combinatorial health effects
Global EPA and DHA Market: Competitive Landscape
Koninklijke DSM NV, KD Pharma Group, The Archer Daniels Midland Company, Corbion NV, Novasep Holding SAS, Neptune Wellness Solutions, BASF SE, Clover Corporation Ltd, Croda International PLC, Novotech Nutraceuticals, and Polaris
Global EPA and DHA Market: Recent Developments
- In June 2019, Archer Daniels Midland Company (ADM) launched a new line of DHA/EPA blends containing Omega 3, 6, and 9, which offer benefits that can help support cognitive, heart, immune system, and eye health. Coined Onavita Algal DHA and Almega EPA, the new blends were created in collaboration with Qualitas Health, a leader in algae cultivation.
- In October 2020, Thai Union Group PCL and Corbion announced the expanded adoption of AlgaPrime DHA, omega-3 rich algae feed ingredient, in Thai Union shrimp feed following a successful large-scale trial in 2019. The expanded partnership marked another success of using alternative, sustainable feed ingredients at scale.
- In January 2018, Neptune announced an exclusive research agreement with the purpose of developing new medical and wellness targeted cannabinoid-based products, such as CBD combined with krill oil whose combination use would be exclusive to Neptune. The new products aimed at the growing number of federal jurisdictions worldwide, such as Canada, that have or will legalize cannabinoids for medicinal and/or adult use.
