The global EPA and DHA market is estimated to be valued at US$ 1,626.10 Mn in 2022 and is expected to exhibit a CAGR of 6.76% over the forecast period 2022-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
EPA (eicosapentaenoic acid) and DHA (docosahexaenoic acid) are omega-3 fatty acids commonly found in fish oil and certain algae. These fatty acids are essential for the proper functioning of the human body and have been linked to numerous health benefits, including cardiovascular health, brain development, and immune function. The increasing awareness about the importance of omega-3 fatty acids in maintaining overall health has led to a growing demand for EPA and DHA supplements and functional foods.
Market Key Trends:
One key trend driving the growth of the EPA And DHA Market is the rising demand for omega-3 fatty acids in the pharmaceutical industry. EPA and DHA have been shown to have anti-inflammatory properties and can help reduce the risk of chronic diseases such as heart disease, arthritis, and certain types of cancer. This has led to an increased incorporation of EPA and DHA in pharmaceutical formulations, such as cardiovascular drugs and supplements. For example, Lovaza, a prescription omega-3 fatty acid formulation, is used to treat high triglyceride levels. The demand for EPA and DHA in the pharmaceutical industry is expected to drive market growth during the forecast period.
PEST Analysis:
Political: The regulatory landscape for omega-3 fatty acids varies across different regions. For example, in the United States, the Food and Drug Administration (FDA) has approved certain omega-3 fatty acid formulations as prescription drugs, while in other regions, they are classified as dietary supplements.
Economic: The increasing disposable income and growing health consciousness among consumers are driving the demand for EPA and DHA supplements and functional foods.
Social: The rising awareness about the health benefits of omega-3 fatty acids and the importance of a balanced diet have fueled the demand for EPA and DHA products among health-conscious consumers.
Technological: Advancements in extraction and purification technologies have made it easier to obtain high-quality EPA and DHA from fish oil and algae sources, ensuring the purity and efficacy of the products.
Key Takeaways:
1. The global EPA And DHA Market is expected to witness high growth, exhibiting a CAGR of 6.76% over the forecast period, due to increasing awareness about the health benefits of omega-3 fatty acids.
2. North America is expected to dominate the global EPA and DHA market, owing to the high consumption of omega-3 supplements and functional foods in the region.
3. Key players operating in the global EPA and DHA market include 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.
In conclusion, the global EPA and DHA market is projected to grow significantly over the forecast period. The rising demand for omega-3 fatty acids in the pharmaceutical industry, coupled with increasing health awareness among consumers, is fueling market growth. With advancements in technology and increasing availability of high-quality EPA and DHA products, the market is expected to witness sustained growth in the coming years.
