by Market Overview:
EPA and DHA finds extensive application in functional food & beverages, dietary supplements, pharmaceuticals due to its health promoting properties. Rising consumer awareness about advantages of EPA and DHA in preventing cardiovascular diseases and improving brain health has been driving the demand of EPA and DHA products.
Market key trends:
Increasing preference for plant-based and clean label EPA and DHA ingredients is one of the key trend. Over the past decade, consumer preferences have shifted towards more sustainable and natural ingredients in nutrition products. This has prompted manufacturers to invest more in development of plant-based and sustainable sources of EPA and DHA such as microalgae. Manufacturers are offering sophisticated plant-based EPA and DHA oils suitable for wide variety of food applications.
The EPA and DHA Market Share is estimated to be valued at US$ 1853.38 Mn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights
SWOT Analysis
Strength: The EPA and DHA market has strong growth potential due to increasing health consciousness among consumers and growing demand for omega-3 supplements. The key health benefits of EPA and DHA, such as reduced risk of cardiovascular diseases and improved brain health, offer a competitive advantage to this market.
Weakness: High production costs and complex manufacturing processes of EPA and DHA ingredients pose challenges. Quality and process consistency issues also affect the market growth negatively.
Opportunity: Rising disposable incomes and growing middle-class populations in developing countries present an opportunity for market expansion. Innovations in production technologies can further reduce costs and improve supply chain efficiencies.
Threats: Stringent regulatory frameworks and certification requirements across regions increase compliance costs. Substitute ingredients also threaten the market to some extent.
Key Takeaways
The global EPA and DHA market is expected to witness high growth, exhibiting CAGR of 6.7% over the forecast period, due to increasing health consciousness among consumers. Growing awareness about cognitive decline and importance of DHA for brain health is driving the demand for EPA and DHA supplements.
North America currently dominates the global EPA and DHA market, owing to high health supplements consumption and nutritional awareness in the region. However, Asia Pacific is expected to grow at the fastest pace during the forecast period. Countries like China, India, and Japan are key markets demonstrating increasing adoption of EPA and DHA products due to rise in lifestyle diseases.
Key players operating in the EPA and DHA market are Koninklijke DSM NV, KD Pharma Group, The Archer Daniels Midland Company, Corbion NV, Novasep Holding SAS, Neptune Wellness Solutions, BASF SE, Clover Corporation Ltd, Croda International PLC, Novotech Nutraceuticals, and Polaris. These players are focusing on new product launches, capacity expansions and strategic collaborations to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
