April 14, 2014 — The global market for omega-3 products is expected to almost triple by 2020 to reach USD 7.32 billion (EUR 5.3 billion), according to a recent study by Grand View Research. It is currently valued at less than USD 2 billion (EUR 1.5 billion).
Growing consumer awareness of the health benefits associated with omega-3 fatty acids, coupled with the rising prevalence of coronary heart disease, are expected to drive market demand during the next six years, the U.S. company says.
Functional foods were the largest application segment of omega-3 ingredients in 2013 the researchers found, accounting for more than 55 percent of global demand. Infant formulas and pharmaceuticals were other key applications and are expected to have a combined market of more than USD 2.7 billion (EUR 2 billion) by 2020, growing at a combined annual growth rate (CAGR) of 16.9 percent and 17.5 percent from 2014 to 2020 respectively.
The global market for products containing the long chain polyunsaturated omega-3 fatty acids was estimated to be 24,870 tons in 2013, according to Grand View Research. It is expected to grow at a CAGR of 13.7 percent from 2014 to 2020.
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