Omega-3 Fatty Acid Market’s Growth and Demand Forecast to 2024| Top Key players Nordic Naturals, Wileys Finest Wild Alaskan Fish Oil, Organic Technologies, Cellana Inc., Bioriginal, Neptune Wellness Solutions, Pharmachem Laboratories, Inc
Omega-3 fatty acid is polyunsaturated fatty acids (PUFAs) containing carbon double bond in its organic structure. These are mainly found in plants and marine life such as meat, eggs, seal oil, krill, fish, and mammalian brains and eyes. Fish oil is the most common and widely used dietary source of omega-3 fatty acids that contains high content of eicosapentaenoic acid/docosahexaenoic acid (EPA/DHA). The omega-3 fatty acids are essential fatty acids for health, which the body cannot produce but are necessary for regular metabolic activities and functions. Both the omega-3 variants are beneficial to the stress management.
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Based on types the global omega-3 fatty acid market can be classified as docosahexaenoic acid (DHA), eicosapentaenoic acid (EPA) and α-linolenic acid (ALA). Further, ALA is found in plant oils, and DHA and EPA are found mainly in fish oils. Omega-3 fatty acid finds application in infant formula, food and beverages, nutritional supplements, clinical nutrition, pharmaceuticals, pet food and supplements and others. Based on manufacturing processes, global omega-3 fatty acid market can be categorized as concentration process, processing of fish oils, decontamination and other product technologies.
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The major trends observed in the global omega-3 fatty acid market is increasing consumer demand of omega-3 fatty acid products and launch of highly concentrated omega-3 pharmaceuticals in the market. Alternative sources such as flaxseeds, olive oil, beans and walnuts are used to obtain omega-3 PUFA are providing new market opportunities for the global omega-3 fatty acid market.
North America was the largest consumer of omega-3 products in 2014; followed by Europe. The regulations favoring the use of omega-3 in functional food and infant formula is expected to spur the demand for omega-3 fatty acid market in the developed regions. The Asia-Pacific omega-3 fatty acid market is expected to witness fastest growth during the coming years.
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