The market was valued at $ 1,635.39 million in 2019 and is expected to be valued at $ 2,703.20 million by 2027; It is expected to grow at a CAGR of 6.6% from 2020 to 2027.
Omega-3 concentrates refer to highly concentrated oils that contain EPA and DHA, which together make up more than 50%. These concentrates are made from omega-3-rich fats, which are processed into EPA or DHA in higher concentrations. The omega-3 concentrates are mainly obtained from oils such as fish oil, calamari oil and algae oil. These concentrates are also available in powder form and are used in the manufacture of dietary supplements and are also used as pharmaceutical components. The plethora of health benefits and properties that omega-3 concentrates offer are key drivers for the omega-3 concentrate market.
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Top key players: – BASF SE; AlaskaOmega; Golden Omega SA; K. Pharmtech Co., Ltd .; DSM Nutritional Products AG; Nordic Naturals, Inc .; Epax Norway; Norwegian fish oil; GC Rieber VivoMega; and Australian Omega Oils Pty. Ltd.
The increasing demand for omega-3 concentrates is attributed to increasing consumer awareness of the health benefits of omega-3 concentrates. Omega-3 concentrate offers consumers a variety of health benefits, including cardiovascular, eye, and brain health. Increasing health awareness among consumers is contributing to market expansion. Many consumers are familiar with the benefits of omega-3 concentrates. Nowadays, people around the world tend to have healthy lifestyles and spend a lot on nutritional products. Omega-3 fatty acids help lower the risk of heart disease and are used along with exercise and diet to lower triglyceride levels and raise HDL cholesterol levels. An increased level of triglycerides in the blood promotes the development of atherosclerosis, which eventually increases the risk of cardiovascular disease.
Omega-3 concentrates help reduce depression and anxiety, improve eye health, reduce metabolic syndrome symptoms, fight inflammation, help prevent cancer risks, and offer various other health benefits. In addition, the rising incidence of cardiovascular disease, cancer and other similar health problems has also increased the demand for omega-3 concentrates worldwide.
Impact of the COVID-19 Pandemic on the Omega-3 Concentrate Market
COVID-19 first began in Wuhan, China in December 2019 and has since spread at a rapid pace around the world. As of January 2021, the United States, Brazil, India, Russia, South Africa and Mexico, among others, are among the hardest hit countries in terms of confirmed cases and reported deaths. The COVID-19 has impacted economies and industries in various countries due to lockdowns, travel bans and shop closings. The global food and beverage industry is one of the significant sectors suffering from severe disruptions such as supply chain disruptions, technology event cancellations, office closures, etc. as a result of this outbreak. Several companies have already announced possible delays in product delivery and slumps in future sales of their products.
The report includes the segmentation of the global Omega-3 Concentrates Market as follows:
Omega-3 Concentrates Market by Shape
Omega-3 Concentrates Market By Source
Omega-3 Concentrates Market By Type
• triglyceride (TG)
• ethyl ester (EE)
• phospholipids (PL)
Omega-3 Concentrates Market by Concentration
• High DHA
• High EPA
• Balanced EPA-DHA
Omega-3 Concentrates Market by End Use
• Food and drinks
• Food supplements
• Baby food
• Toiletries and cosmetics
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