by EPA and DHA are polyunsaturated fatty acids that play vital roles in brain and eye development. They are commonly found in fish and algal oils. EPA and DHA find wide applications as supplements in functional food and beverages, dietary supplements, infant formula, pharmaceuticals, and animal feed. The growing awareness about the health benefits of EPA and DHA is propelling their demand for nutraceutical products. EPA and DHA have proven benefits in reducing inflammation and risks of cardiovascular diseases, diabetes, arthritis, and cancer.
The global EPA and DHA Market is estimated to be valued at US$ 1853.38 million in 2023 and is expected to exhibit a CAGR of 23% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
The growing demand for nutraceutical products emerging as a primary driver for the EPA and DHA market. With increasing health consciousness, consumers are increasingly consuming EPA and DHA-enhanced supplements, functional food, and beverages for their antioxidant and anti-inflammatory properties. This growing demand for nutraceutical products is expected to boost the EPA and DHA market significantly over the forecast period. Furthermore, the rising awareness about the cognitive benefits of EPA and DHA for infants is propelling the demand for infant formula enriched with these fatty acids. This growing demand from infant formula manufacturers is another major factor estimated to fuel the market growth of EPA and DHA during the forecast years.
Segment Analysis
The global EPA and DHA market is segmented on the basis of type, form, application, and region. Based on type, the market is segmented into EPA and DHA. Among these, the DHA segment dominates the market and accounts for around 60% market share due to the rising awareness about the cognitive health benefits of DHA. In terms of form, the market is divided into capsules, soft gels, gummies, fish oil, and aquaculture feed and additives. Among these, fish oil is the most preferred form as it provides better bioavailability.
PEST Analysis
Political: The government regulations supporting the consumption of omega-3 EPA and DHA supplements are fueling the market growth. Many nations have launched programs to increase the omega-3 levels in the general population.
Economic: Rising disposable income and increasing health-conscious population are positively influencing the market. However, high cost of production hampers the market growth.
Social: Growing geriatric population and rising prevalence of chronic diseases have increased the demand for EPA and DHA supplements. People are increasingly adopting healthy lifestyle and diets.
Technological: Advanced techniques for EPA and DHA extraction are helping reduce the production costs. New techniques aid in increasing the concentration and stability of EPA and DHA.
Key Takeaways
The global EPA And DHA Market Size is expected to witness high growth during the forecast period. The global EPA and DHA Market is estimated to be valued at US$ 1853.38 million in 2023 and is expected to exhibit a CAGR of 23% over the forecast period 2023 to 2030.
Regional analysis
North America holds around 35% share of the global market owing to rising health consciousness. Europe follows North America in terms of revenue due to high demand for nutraceuticals and functional foods. Asia Pacific is projected to witness fastest growth during the forecast period led by the burgeoning middle class population in India and China.
Key players
Key players operating in the EPA and DHA market are Broadcom Inc., Sicoya GMBH, GlobalFoundries Inc., Intel Corporation, Juniper Networks Inc., Cisco Systems Inc., IBM Corporation, and NeoPhotonics Corporation. Broadcom Inc. and Cisco Systems Inc. are the global leaders in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
