Epa And Dha Market Is Estimated To Witness High Growth Owing To Increased Adoption In Dietary Supplements And Functional Foods
Eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA) are long-chain omega-3 fatty acids predominantly found in fish oil and algal oil. They play a crucial role in supporting heart, brain, eyes, and nervous system health. EPA and DHA are increasingly being used in dietary supplements and as additives in various food products like infant formulas, breakfast cereals, and beverages. The global demand for EPA and DHA is growing due to rising health consciousness and awareness among consumers regarding the various health benefits associated with their consumption.
The global EPA and DHA Market is estimated to be valued at US$ 1853.38 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:
The increased adoption of EPA and DHA in dietary supplements and functional foods is a major driver of market growth. With growing awareness about the benefits of EPA and DHA consumption, consumers are increasingly incorporating dietary supplements enriched with these omega-3 fatty acids. Their use as ingredients in food products like infant formulas, breakfast cereals, milk, yogurt, and juice drinks catering to pregnant women, toddlers, and adults is further propelling the market growth. EPA and DHA are effective in supporting brain, eye, and heart health and reducing inflammation in the body. With growing health consciousness, consumers want to maintain wellness through diet, which drives their demand for EPA and DHA fortified foods. Algal oil is emerging as a sustainable source of EPA and DHA and gaining traction as a viable alternative to fish oil. This is expected to open new avenues for market players over the forecast period.
SWOT Analysis
Strength: 1. EPA and DHA have significant health benefits such as improved cardiovascular health, brain and eye health, reduced inflammation etc. 2. There is a rising awareness among consumers regarding the importance of omega-3 fatty acids for overall wellness and growth which is expected to drive the demand for EPA and DHA. 3. Technological advancements have enabled higher and purer extraction of EPA and DHA from marine sources and algal cultivation making them more accessible.
Weakness: 1. Supply constraints and uncertainty in quality and consistency of supply from marine sources remain a challenge. 2. Higher production costs and retail prices compared to alternatives limit higher adoption and affordability challenges.
Opportunity: 1. Growing vegan/vegetarian population and shift towards plant-based sources present new opportunities for algal-derived EPA and DHA. 2. Emerging new applications and formulation in infant formula, clinical nutrition and pet food further expand the addressable market for EPA and DHA.
Threats: 1. Unclear regulations and standards around definition of EPA/DHA content in different countries poses marketing challenges. 2. Competition from alternative omega-3 sources like flaxseeds and chia seeds can hinder market growth to some extent.
Key Takeaways
The global EPA And DHA Market Size is expected to witness high growth over the forecast period supported by surging consumer awareness about health benefits and new application areas. The global EPA and DHA Market is estimated to be valued at US$ 1853.38 Mn in 2023 and is expected to exhibit a CAGR of 23% over the forecast period 2023 to 2030.
Regional analysis
The Asia Pacific region currently accounts for the largest share in the global EPA and DHA market and is expected to maintain its dominance during the forecast period. Rapidly developing healthcare infrastructure, supportive regulations for functional foods enriching with omega-3 and rising health expenditure are some factors propelling the EPA and DHA market growth in Asia Pacific. China, Japan and India especially are presenting lucrative opportunities for players due to growing protein-rich food demands and increasing lifestyle diseases warranting omega-3 supplementation.
Key players
Key players operating in the EPA and DHA market are Broadcom Inc., Sicoya GMBH, GlobalFoundries Inc., Intel Corporation, Juniper Networks Inc., Cisco Systems Inc., IBM Corporation, and NeoPhotonics Corporation. Key players are focusing on new product launches, partnerships for sustainable supply and expanding production to cater to the rising demands from diversifying application segments.
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