The global EPA and DHA market is estimated to be valued at US$1,626.10 Mn In 2021 and is expected to exhibit a CAGR of 6.76% over the forecast period 2022-2030, as highlighted in a new report published by Coherent Market Insights.
The EPA And DHA Market encompasses the production and distribution of eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA) as dietary supplements in the form of capsules, softgels, and liquids. EPA and DHA are omega-3 fatty acids found in fish oil, algae oil, and other marine sources. These fatty acids are known for their numerous health benefits, including cardiovascular health, brain function, and reducing inflammation. The rising prevalence of chronic diseases and the increasing health consciousness among consumers have driven the demand for EPA and DHA supplements.
The EPA and DHA market is driven by several factors, including:
1. Growing Awareness About Health Benefits: Increasing knowledge about the health benefits of EPA and DHA, such as their role in improving heart health, brain development, and reducing the risk of chronic diseases, is propelling the market growth. Consumers are increasingly incorporating EPA and DHA supplements into their daily routine to maintain a healthy lifestyle.
2. Rising Demand for Omega-3 Fatty Acids: The demand for omega-3 fatty acids, including EPA and DHA, is on the rise due to their essential role in maintaining overall health. Omega-3 fatty acids are not naturally produced in the body and need to be obtained through diet or supplements. The growing popularity of plant-based and vegan diets has increased the demand for algae-based EPA and DHA supplements.
The EPA And DHA Market can be segmented based on source, application, and region. The dominant sub-segment in the market is the fish oil segment, which is derived from fish sources such as salmon, mackerel, and sardines. Fish oil is the most widely available and consumed source of EPA and DHA supplements. However, the demand for algae-based EPA and DHA supplements is also growing rapidly due to the rising popularity of vegan diets.
– Political: The regulatory landscape and government policies regarding the production and distribution of dietary supplements, including EPA and DHA, can impact market growth.
– Economic: Economic factors such as disposable income, consumer spending patterns, and the overall economic stability of the regions can affect the market demand for EPA and DHA supplements.
– Social: The increasing health consciousness among consumers and the growing trend of preventive healthcare have resulted in a higher demand for EPA and DHA supplements.
– Technological: Advancements in extraction techniques and the development of innovative delivery formats have improved the efficiency and convenience of EPA and DHA supplements.
– The global EPA and DHA market is expected to witness high growth, exhibiting a CAGR of 6.76% over the forecast period, due to increasing awareness about the health benefits of EPA and DHA and the growing demand for omega-3 fatty acids.
– North America is the fastest-growing and dominating region in the EPA and DHA market, driven by the high prevalence of chronic diseases, a well-established healthcare infrastructure, and a growing elderly population.
– Key players operating in the global EPA and DHA market include 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.
In conclusion, the global EPA and DHA market is poised for significant growth in the coming years, driven by the increasing awareness about the health benefits of EPA and DHA supplements and the growing demand for omega-3 fatty acids. The market offers promising opportunities for key players operating in the industry.