DALLAS—Omega-3 sales are up globally, with Europe boosting the biggest growth rate due to consumers taking precautionary measures to reduce the increasing rates of cardiovascular diseases (CVDs), according to a new report for Marketsandmarkets. The growing knowledge of omega-3’s anti-cancer effects is also helping to propel sales, according to the market research firm’s new report.
It estimates the global omega-3 ingredients market is estimated to reach $3.21 billion in 2016 from $1.48 billion in 2010, at a compound annual growth rate (CAGR) of 13.8 percent. The Asian market is expected to hold 34 percent of the global market share in 2015 at an estimated CAGR of 15.2 percent due to higher occurrence rates of CVDs in the region, according to Marketsandmarkets. Europe is the fastest-growing segment and is expected to grown from $ 311.2 million in 2010 to $ 771.8 million in 2016 at an estimated CAGR of 15.8 percent.
Some of the major drivers of the industry are innovative production technologies, health benefits, and increasing demand in foods and beverages, however Marketsandmarkets said major restraints are absence of recommended daily intake (RDI) and low consumer awareness. Another key issue in the industry is decreasing phytoplankton in global water bodies.
The report “Omega 3 & 6 Market by Source, Applications, Geography Trends & Global Forecasts (2011 – 2016)" defines and segments the global omega-3 and omega-6 market with analysis and forecasting of the global revenues for omega-3 and -6.
