Market Overview:
The EPA and DHA Market, comprising Eicosapentaenoic Acid (EPA) and Docosahexaenoic Acid (DHA), has experienced notable expansion in recent years. These extended-chain omega-3 fatty acids serve as fundamental components in fish oil and algae-derived supplements, catering to a diverse array of sectors, including pharmaceuticals, nutraceuticals, and functional foods.
The market’s upward trajectory is primarily driven by the heightened awareness among consumers regarding the health advantages linked to EPA and DHA, encompassing cardiovascular health, cognitive functionality, and anti-inflammatory properties. The escalating trend towards preventive healthcare practices and the integration of omega-3 supplements into dietary regimens play pivotal roles in contributing to the market’s robust growth.
EPA and DHA Market was USD 1,670.04 million in 2022 It is projected to reach USD 2,680.43 million by 2030, indicating a CAGR of 6.2% during the forecast period.
Market Key Players:
KD Pharma Group, Corbion NV, Novasep Holding SAS, Neptune Wellness Solutions, BASF SE, Omega Protein Corporation, Croda International PLC, Novotech Nutraceuticals, Polaris SA, and AlgalR NutraPharms Pvt. Ltd
Market key drivers:
The momentum propelling the expansion of the EPA and DHA market is underpinned by several critical factors. A burgeoning focus on health and wellness, a surge in chronic disease prevalence, and the pursuit of nutritional solutions by an aging population stand out as primary drivers. Furthermore, the market is significantly influenced by the increasing favorability of omega-3-fortified products, complemented by advancements in extraction technologies that play a pivotal role in facilitating market growth. Noteworthy is the escalating demand for sustainable and plant-based sources of EPA and DHA, driven by environmental apprehensions and ethical considerations, which is actively shaping both product innovation and the overarching dynamics of the market.
Market Segmentation:
By Type
· Eicosapentaenoic Acid (EPA)
· Docosahexaenoic Acid (DHA)
By Source
· Fish Oil
· Algae Oil
· Krill Oil
· Others
By Application
· Infant Formula
· Dietary Supplements
· Fortified Food and Beverages
· Pharmaceuticals
· Others
Regional Analysis:
The Asia-Pacific region has emerged as the primary contributor to market growth, attributing its prominence to the burgeoning pharmaceutical sector. Notably, the pharmaceuticals industry in India, as highlighted by the India Brand Equity Foundation (IBEF), witnessed substantial growth in 2020, reaching a valuation of USD 42.0 billion.
Projections indicate a remarkable surge to USD 65.0 billion by 2024, reflecting a robust increase of 54.8%. This remarkable progress in the pharmaceutical domain is a pivotal factor propelling the revenue expansion of the EPA and DHA market in the region.
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