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North America Omega3 PUFA Market - Growth, Trends, and Forecast (2018-2023)

North America Omega3 PUFA Market - Growth, Trends, and Forecast (2018-2023)

Market Insights

The North American Omega3 PUFA market is estimated to reach USD 6.7 billion by 2023 witnessing a CAGR of 11.1% during the forecasted period of 2018–2023. North America is the major market for Omega3 PUFA and is widely used in the food industry in various product applications, such as infant nutrition and women nutrition products, and also by the pharmaceutical and animal & pet food industry. About 87% of the infant formula products are enriched with DHA and ALA in the region.

Market Dynamics

The major drivers for Omega3 PUFA market are the growing trend of humanization with respect to animal & pet food products, infant food applications of Omega3 PUFA, an increased fortification in food products, surging obesity and cases of heart disease and innovation in new product developments by scientists. The high production cost and fluctuation in raw materials, such as fish, are the restraints for the market. Poor consumer understanding of the nutritional benefit of PUFA and DHA is also affecting the market. Also, product marketing with label claim is still a big challenge for the market due to stringent regulatory laws.

Market Segmentation

By application, Omega3 PUFA is segmented into food, dietary supplements, pharmaceuticals, and animal & pet nutrition. The food application market is divided into infant nutrition and fortified food & beverage products, of which infant nutrition covers the major share in the market. The market segmentation according to the type of Omega3 PUFA is divided into ALA, DHA, and EPA. The market segmentation on the type of source includes marine or animal source and plant source. Plant source of production accounts for 52%, while animal source accounts for 48% of the market share due to the cost factor.

Key Developments

  • January 2018 - A formal joint venture was developed between DSM and Evonik for the production of omega3 fatty acids from algae.
  • November 2016 - Cargill Inc. developed a groundbreaking type of canola, which gave aquaculture farmers a more sustainable way to raise fish rich in EPA/DHA omega3 fatty acid.
Major players - ARISTA INDUSTRIES, INC., A&Z FOOD ADDITIVES CO., LTD., BASF, CARGILL, CAYMAN CHEMICALS, CLOVER CORPORATION, COPENICA ASA, CRODA, INC., FMC CORPORATION, GUANGDONG RUNKE, KINGDOMWAY NUTRITION, INC., OMEGA PROTEIN CORPORATION, among others.

Reasons to Purchase this Report
  • Analyzing outlook of the market with the recent trends and Porters five forces analysis
  • Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
  • Market segmentation analysis, including qualitative & quantitative research incorporating the impact of economic & non-economic aspects
  • Regional and Country level analysis integrating the demand and supply forces that are influencing the growth of the market
  • Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • 3-month analyst support, along with the Market Estimate sheet (in excel)
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1. Introduction
1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definitions
2. Research Approach and Methodology
2.1 Introduction
2.2 Research Design
2.3 Study Timeline
2.4 Study Phases
2.4.1 Secondary Research
2.4.2 Discussion Guide
2.4.3 Market Engineering & Econometric Modelling
2.4.4 Expert Validation
3. Market Overview
3.1 Market Dynamics
3.1.1 Drivers
3.1.1.1 Growing Humanization Trend in Respect to Animal and Pet Food Products
3.1.1.2 Increased Applications in Food and Neutraceutical Products
3.1.1.3 Innovation in Technology
3.1.1.4 Increased Obesity and Heart Disease
3.1.2 Restraints
3.1.2.1 Government Regulation toward Labeling Claim
3.1.2.2 Volatility in Raw Material Price
3.1.3 Opportunities
3.1.3.1 Essential FA to Meet the Nutritional Gap
3.1.3.2 New Source of Omega3 PUFA Production (Krill and Squid)
3.1.4 Porters Five Forces Analysis
3.1.4.1 Bargaining Power of Suppliers
3.1.4.2 Bargaining Power of Buyers
3.1.4.3 Threat of New Entrants
3.1.4.4 Threat of Substitute Products and Services
3.1.4.5 Degree of Competition
4. Market Segmentation
4.1 By Type
4.1.1 EPA
4.1.2 ALA
4.1.3 DHA
4.2 Application Type
4.2.1 Food & Beverage
4.2.1.1 Infant Formula
4.2.1.2 Fortified Food & Beverage
4.2.2 Dietary Supplements
4.2.3 Pharmaceuticals
4.2.4 Animal Nutrition
4.3 By Source
4.3.1 Animal Source
4.3.1.1 Fish Oil
4.3.1.2 Algae Oil
4.3.1.3 Krill Oil
4.3.1.4 Others (Egg Oil, Tuna, Shark, Squid)
4.3.2 Plant Source
4.3.2.1 Chia Seed
4.3.2.2 Flax Seed
4.3.2.3 Hemp Seed
4.3.2.4 Others (Canola, Perilla, Walnut)
4.4 By Geography
4.4.1 North America
4.4.1.1 US
4.4.1.2 Canada
4.4.1.3 Mexico
4.4.1.4 Rest of North America
5. Competitive Landscape
5.1 Strategy Adopted by Key Players
5.2 Most Active Companies in the Past Five Years
5.3 Market Share Analysis
6. Company Profiles
6.1 Arista Industries, Inc.
6.2 A&Z Food additives Co., Ltd.
6.3 BASF
6.4 Cargill
6.5 Cayman Chemicals
6.6 Clover Corporation
6.7 Copenica ASA
6.8 Croda, Inc.
6.9 FMC Corporation
6.10 Guangdong Runke
6.11 Kingdomway Nutrition, Inc.
6.12 Omega Protein Corporation
7. Appendix
7.1 Disclaimer

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