EPA And DHA Market Is Expected To Driven By Rising Health Awareness
Eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA) are long-chain omega-3 fatty acids that play a vital role in brain function, heart health, joints, and reduce inflammation throughout the body. EPA and DHA are commonly found in fatty fish and fish oil supplements. With growing awareness about the health benefits of EPA and DHA, the demand for fish oil supplements and fortified/functional food and beverages is increasing rapidly. EPA and DHA find wide applications in dietary supplements, functional foods & beverages, pharmaceuticals, infant formula, and animal feed.
The global EPA and DHA omega-3 market is estimated to be valued at US$ 1853.38 Mn or Mn in 2023 and is expected to exhibit a CAGR of 23% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Rising health awareness is the key driver propelling the growth of the EPA and DHA omega-3 market. Consumers are increasingly embracing healthy diets and lifestyle changes to prevent lifestyle diseases. Since EPA and DHA omega-3 fatty acids have demonstrated numerous health benefits such as reducing inflammation, lowering triglyceride levels, improving brain and eye health, and more, their demand is surging globally. Additionally, changing demographic trends towards the aged population who are more prone to chronic diseases will further aid the market expansion over the forecast period. However, fluctuations in fish catches and supply constraints associated with EPA and DHA extraction may hamper the market growth.
SWOT Analysis
Strength: The EPA and DHA market has high demand for food products with added nutritional value. Omega-3 fatty acids from fish oils are known to reduce the risk of heart disease and have other health benefits. EPA and DHA are vital for brain and eye development in infants as well. Supplements containing omega-3s are widely available to support cardiovascular and brain health in adults too.
Weakness: Obtaining EPA and DHA through fish oil extraction can be an expensive process. Quality and sustainability concerns also exist regarding overfishing. Synthetic alternatives to fish oils require additional purification steps that drive up costs. Consumer confusion remains regarding the different types of omega-3 fatty acids and their health impacts.
Opportunity: Growth of the dietary supplements industry presents an opportunity to market targeted EPA and DHA formulas. Demand is rising for plant-based and vegetarian DHA/EPA sources as more people adopt alternative diets. Innovation in algal and single-cell sources could address sustainability issues and reduce costs over time. Emerging science on additional benefits for conditions like depression also expands the potential market.
Threats: Strict regulations on health claims and labeling accuracy apply to supplements. This may require additional studies and registration fees for new intended uses. Dependence on global fisheries resources poses risks from overfishing and environmental impacts on supply. Competition from substitutes like flaxseed oil and substitutes limits pricing power for producers and imposes pressure to innovate.
Key Takeaways
The global EPA And DHA Market Growth is expected to witness high growth over the forecast period driven by expanding applications in infant formula, supplements, and functional food and beverages. The global EPA and DHA omega-3 market is estimated to be valued at US$ 1853.38 Mn or Mn in 2023 and is expected to exhibit a CAGR of 23% over the forecast period 2023 to 2030.
North America currently dominates the market owing to growing awareness about omega-3 benefits and preventive healthcare trends in the region. Europe is another major region for EPA and DHA while demand is rising fastest in Asia Pacific as more people adopt western diets and lifestyles.
Key players operating in the EPA and DHA market include Broadcom Inc., Sicoya GMBH, GlobalFoundries Inc., Intel Corporation, Juniper Networks Inc., Cisco Systems Inc., IBM Corporation, and NeoPhotonics Corporation. These companies focus on fish oil extraction as well as developing algal and single-cell sources of DHA/EPA. Production innovation aims to address sustainability, costs, and future needs as omega-3 science advances and new clinical roles emerge. Players face challenges to scale efficiently while navigating strict regulations and competition from substitutes. Partnerships across the supply chain help secure resources and market share.
For more insights, read- https://cmiinfopiece.blogspot.com/2023/12/the-global-epa-and-dha-market-growth.html
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