Omega-3 Market Size
Global omega 3 market size was USD 1.82 billion in 2014 and is expected to witness substantial growth over the forecast period owing to increasing demand for functional foods in various countries including India, China, U.S., Japan, Australia, Germany, and Italy. Rising consumer health awareness along with increasing investment in clinical research and development will promote growth over the next seven years.
Application Insights Omega-3
Supplements & functional foods were the largest segments valued at USD 0.96 billion in 2014. The growing importance of DHA as it enhances brain development and functions will augment market growth over the next seven years. In addition, growing demand for supplements & functional foods by consumers in light of increasing health concerns along with high disposable income will propel industry expansion over the forecast period.
Pharmaceutical was a prominent segment accounting for over 20% of the overall revenue share in 2014 and is expected to witness rise owing to increasing awareness about health and hygiene among consumers.
North America is a significant market for omega 3 and is expected to show high gains over the next seven years mainly in the U.S. on account of rising functional foods & beverages consumption coupled with technological advancements by various key players including Croda, and DSM. The recovery of the pharmaceutical sector in the U.S. is expected to drive growth over the forecast period. Prevalence of prominent industry participants including Pfizer and Merck &Co. along with high R&D expenditure in the U.S. and Mexico will propel industry expansion.
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