Increasing awareness among consumers about health, diet, and fitness has helped improve lifestyles greatly. Omega-3 is among the best options for consumers looking for a healthy lifestyle. Increasing health awareness and medicinal benefits of fatty acids are major growth drivers for the global fatty acids supplements market. In the past few years, certain health organizations have indicated that omega-3 fatty acids can be useful in the treatment of eye, hair, and heart diseases.
In recent years, infant formula, which is one of the major applications of omega-3, has witnessed significant growth. According to the European Food Safety Authority (EFSA), omega-3 fatty acids can aid cognitive development in infants. Thus, companies such as Nestlé S.A. and Abbott Laboratories have been progressively expanding their product portfolios catering to this segment. For instance, infant formula, such as Similac with OptiGRO and Similac for supplementation, both products of Abbott Laboratories, are available in the market.
The Lower level of consumer awareness acts as a major restraint for the fatty acids supplements market. The situation is adverse in developing parts of the world where literacy rates are low and people have low disposable incomes to spend on dietary supplements. Companies such as Arista Industries, Croda Healthcare, DSM, and Dean Foods are focusing on spreading awareness, especially in high-potential markets in Asia Pacific and Latin America.
North America is the largest market for fatty acids supplements globally, followed by Europe. In 2013, North America accounted for about 35% of the global consumption of omega-3 fatty acids. A growing trend towards consuming beverages with functional ingredients has offered new opportunities for the addition of omega-3, such as EPA and DHA, in beverages. According to the United Soybean Board’s Consumer Attitudes about Nutrition survey, around 84% of consumers perceived omega-3 as a healthy fatty acid in 2012; and increase from 79% in 2011.
The global fatty acids supplements market is highly consolidated, with the top five companies holding around 75% market share. DSM leads the market, followed by Epax AS and Croda Health Care.
This report is a detailed study of the global fatty acids supplements market. It offers insights into the current and forecast market scenario. The report examines factors affecting the market movement and changing consumer behavior as well as provides details related to strategic planning of companies for growth and sustenance in the competitive market. Company profiles, included at the end of the report, cover company overview, products and segments, financial performance, and recent developments of various companies.
Key points covered in the report
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