Market Overview:
EPA and DHA are the two most important long-chain omega-3 fatty acids that play a vital role in brain and eye health. They are derived mainly from fish and algae oils and are used in numerous food & beverage, infant formula, pharmaceuticals and supplements. Rising health consciousness among consumers coupled with growing application scope of EPA and DHA in functional foods has been driving the market growth over the years.
Market Dynamics:
The EPA and DHA market is primarily driven by rising demand for omega-3 fatty acids supplements globally. According to WHO, omega-3 fatty acids are necessary for good health but the body cannot produce them on its own and must get EPA and DHA from food sources. Increasing awareness about omega-3 benefits for heart health, brain health and immunity is positively influencing consumers to incorporate EPA and DHA supplements in daily diet. Another driver has been rising production of algae-derived EPA and DHA as algal lipids do not pose risks of environmental toxins and are a sustainable alternative to fish oil.
The EPA and DHA Market Share is estimated to be valued at US$ 1853.38 Mn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights
SWOT Analysis
Strength: The EPA and DHA market has high growth potential owing to the increasing health awareness. The omega-3 fatty acids have numerous health benefits such as improving cardiovascular health and brain function. Many companies are engaged in extensive R&D to develop innovative EPA and DHA products.
Weakness: Fluctuations in the prices of fish oils rich in EPA and DHA can hamper market growth. Maintaining quality standards during complex manufacturing processes is also challenging.
Opportunity: Rising adoption of EPA and DHA supplements among elderly population suffering from age-related diseases offers lucrative opportunities. Growing vegan population increased demand for plant-based algal DHA and EPA products.
Threats: Stringent regulations associated FDA approval of new products may restrict market growth. Substitutes products delivering similar health benefits pose competitive threats.
Key Takeaways:
The global EPA and DHA market is expected to witness high growth, exhibiting CAGR of 6.7% over the forecast period, due to increasing awareness about health benefits of omega-3 fatty acids. Rising cardiovascular diseases, neurological disorders, and other lifestyle diseases have compelled people to include EPA and DHA-rich diets.
Regional analysis: North America dominates the global EPA and DHA market, owing to growing geriatric population susceptible to age-related diseases. Favorable regulations and increasing adoption of supplements in the U.S. and Canada are fueling market growth. Europe is another major market for EPA and DHA due to rising health consciousness.
Key players operating in the EPA and DHA market are 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. These companies are focused on new product launches, capacity expansion, and strategic collaborations to strengthen their market position.
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