April 15, 2024
EPA And DHA Market

Increasing Awareness Of EPA And DHA Health Benefits To Drive The Growth Of The EPA And DHA Market

Market Overview:
EPA and DHA are types of omega-3 fatty acids derived from seaweeds and algae. They play important roles in brain and eye health as well as cardiovascular health. EPA and DHA are increasingly being added to food products such as infant formula, dairy, and bakery products to enhance their nutritional value. EPA and DHA find wide applications in pharmaceutical, animal feed, functional food & beverage industry due to their anti-inflammatory properties.

Market key trends:
The EPA and DHA market is witnessing growing popularity of vegan DHA and EPA supplements derived from plant and algal sources. This is due to rising vegan demographic globally and their increasing demand for sustainable sources of omega-3 fatty acids. Manufacturers are investing in R&D to improve production yield and lower costs of algal DHA and EPA. Furthermore, growing adoption of pharmaceutical grade EPA and DHA for treatment and management of conditions such as depression, cardiovascular disease and rheumatoid arthritis is expected to drive higher market revenues over the forecast period.

The EPA and DHA Market Share is estimated to be valued at US$ 1853.38 Mn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights

Porter’s Analysis

Threat of new entrants: Low capital requirement and technology barrier allow new players to enter the market easily. However, established players dominate the distribution channels.

Bargaining power of buyers: Large buyers such as food and beverage manufacturers possess significant bargaining power due to their huge demand and threats to substitute.

Bargaining power of suppliers: Few global players control the algal oil supply chain, giving them strong influence on pricing.

Threat of new substitutes: Soy, canola and algal oils pose threats, though EPA and DHA from fish/krill oils have distinct health benefits with no close substitutes.

Competitive rivalry: Intense competition exists among key players to exploit growth opportunities in nutrition, pharmaceutical and infant formula segments.

Key Takeaways

The global EPA and DHA market is expected to witness high growth, exhibiting CAGR of 6.7% over the forecast period, due to increasing health awareness about omega-3 nutritional benefits. The market size for 2023 is estimated at US$ 1853.38 Mn.

Regional analysis: North America dominates currently due to rising awareness about preventive healthcare. Asia Pacific is expected to grow at the fastest pace owing to the growing middle-class population and their increasing health consciousness.

Key players operating in the EPA and DHA market are 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. Key players are focusing on new product launches, facility expansion and mergers & acquisitions to strengthen their market position.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it