Is the Omega-3 PUFA market expected to grow?
Yes, the global Omega-3 PUFA market is projected to experience significant growth at a high CAGR during the forecast period of 2024-2031. This growth is attributed to rising health awareness and increasing prevalence of chronic diseases like cardiovascular issues, diabetes, and high cholesterol.
What are the different types of Omega-3 PUFA?
The three main types are ALA (plant-based), EPA, and DHA (marine-based). EPA dominates the market for its diverse health benefits, but plant-based options are gaining traction due to the rising vegan population.
Which applications are driving the Omega-3 PUFA market?
Dietary supplements and functional food & beverages are the primary drivers, followed by pharmaceuticals, infant formula, and other applications. The growing demand for healthy and functional products fuels this growth.
Who are the key players in the Omega-3 PUFA market?
Cargill, Royal DSM, Omega Protein Corporation, FMC Corporation, and Croda International PLC are some of the major players. Many others are investing in plant-based Omega-3 sources to cater to the evolving market dynamics.