EPA and DHA Market to Hit US$ 2,680.43 Million By 2030 | Updated Insights
A New Research By Consegic Business Intelligence, EPA and DHA market is growing with a healthy CAGR of 6.2% during the forecast period (2023-2030), flued by the increasing adoption of EPA and DHA in fortified food and beverage products, and major participants includes are KD Pharma Group, Corbion NV, Novasep Holding SAS, BASF SE, Omega Protein Corporation, Polaris SA
New York, Aug. 30, 2023 (GLOBE NEWSWIRE) — The global EPA and DHA Market is expected to witness significant growth at a remarkable CAGR of 6.2% during the forecast period of 2023-2030. The factors such as the increasing development of new infant formula manufacturing facilities, rising investment in pharmaceutical research, and others are accelerating the demand for EPA and DHA, which, in turn, is boosting the market growth. In addition, the rising development of a new range of EPA and DHA product categories will further boost the market growth during the forecast period.
According to a recent report by Consegic Business Intelligence, the EPA and DHA market is poised for strong expansion and is expected to reach USD 2,680.43 Million by 2030. The market, which was valued at USD 1,670.04 Million in 2022, is predicted to grow at a compound annual growth rate of 6.2% during the period 2023-2030. The report highlights the increasing adoption of EPA and DHAs in dietary supplements, which is supplementing global market growth. Consegic Business Intelligence study also provides insights into the market’s competitive landscape, market segmentation, regional outlook, and emerging technologies in the EPA and DHA market.
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EPA and DHA are frequently employed in dietary supplements to prevent the body by stimulating the growth of good bacteria in the digestive system. The rising awareness about cognitive function at the global level is favoring the adoption of dietary supplements at the global level. For instance, as per the recent survey published 2021 IFIC Survey, consumers are increasingly consuming probiotics and prebiotics to maintain a healthy gut microbiome. Additionally, nearly one in four respondents, which is 24% of the total respondent said digestive health is the most important aspect of their overall health. These respondents further stated that they consume prebiotics to maintain better gut health. Hence, the increasing demand for dietary supplements is boosting the adoption of EPA and DHA to reduce the risk of hypertension. This prominent determinant is fostering the revenue growth of the market.
In addition, the prominent market players in the DHA industry are increasingly deploying a strategy for innovations in plant-based high-potency DHA, which are utilized for efficient gut health. Henceforth, companies dealing in the plant-based high-potency DHA product range are developing new products with new upgrades. Therefore, the introduction of new products with upgraded benefits will create a potential opportunity for the expansion of the global DHA market.
Global EPA and DHA Market: Report Attributes
|Report Attributes||Report Details|
|Market Size in 2030 (USD Million)||USD 2,680.43 Million|
|By Type||Eicosapentaenoic Acid (EPA) and Docosahexaenoic Acid (DHA)|
|By Source||Fish Oil, Algae Oil, Krill Oil, and Others|
|By Application||Infant Formula, Dietary Supplements, Fortified Food and Beverages, Pharmaceuticals, and Others|
|Report Coverage||Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more.|
|By Geography||North America, Asia-Pacific, Latin America, Europe, Middle East & Africa|
|Key Players||KD Pharma Group, Corbion NV, Novasep Holding SAS, Neptune Wellness Solutions, BASF SE, Omega Protein Corporation, Croda International PLC, Novotech Nutraceuticals, Polaris SA, and AlgalR NutraPharms Pvt. Ltd|
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Global EPA and DHA Market Segmentation Details:
Based on Type, the eicosapentaenoic acid (EPA) segment contributed the largest shares to the market growth in 2022. Docosahexaenoic acid (DHA) is important for the growth and efficient functional development of the brain in infants. Additionally, DHA is required for regular maintenance the normal brain function in adults. Hence, the inclusion of plentiful DHA in the diet enhances learning ability. Docosahexaenoic acid (DHA) is an ideal solution for applications such as dietary supplements, food & beverage, and others. Thus, due to the above benefits, the adoption of docosahexaenoic acid (DHA) is increasing in the above applications, which, in turn, is driving segment growth.
Based on Source, the fish oil segment accounted for the largest market share in the year 2022. Fish oil has a higher level of protein, superior magnesium level, significant content of selenium, vitamin B12, and higher potassium, among others. These vital nutrients ensure a superior level of EPA and DHA content in fish oil. Fish oils such as mackerel, salmon, seabass, oysters, sardines, shrimp, and others are superior sources of EPA and DHA. The development of new DHA products sourced from fish oil is increasing. Hence, the aforementioned nutrient properties associated with fish oil are boosting market growth.
Based on Application, the dietary supplements segment accounted for the largest market share in the year 2022. EPA and DHA are deployed in dietary supplements to ensure superior health benefits such as significant brain and eye development of fetuses and infants. Furthermore, the deployment of EPA and DHA in dietary supplements ensures a reduction in heart disease risks, reduces the risk of early preterm births, and others. Henceforth, the above benefits are leading to the increasing utilization of EPA and DHA in dietary supplements, thereby amplifying market growth.
Based on Region, in the year 2022, Asia Pacific accounted for the largest share contribution to the market growth, owing to the growth of the pharmaceuticals industry. For instance, according to India Brand Equity Foundation (IBEF), in the year 2020, the pharmaceuticals market in India was valued at USD 42.0 billion, and by the year 2024, it is projected at USD 65.0 billion, an increase of 54.8%. Therefore, the advancement in the pharmaceutical industry is spurring the revenue growth of the EPA and DHA market.
KD Pharma Group, Corbion NV, Novasep Holding SAS, and Neptune Wellness Solutions are major market players that comprise the latest market circumstances. These companies are substantially leveraging their technologies for the development of a new range of EPA and DHA. Further, the EPA and DHA market is expected to grow steadily due to rising demand from pharmaceuticals, especially in the regions such as the Asia Pacific, the Middle East, and Europe are estimated to boost the market statistics in the coming years. Additionally, the trend toward the development of new food and beverage manufacturing facilities is expected to increase the competition in the market.
- In February 2023, Grøntvedt Biotech, headquartered in Norway launched CETO3 for its cetoleic acid and omega-3 ingredient. Cetoleic acid is ideal for application for the manufacturing of eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA). Hence, the recent development of products is accelerating the market growth.
Key Market Takeaways
- Asia Pacific accounted for the highest market share at 38.12% and was valued at USD 636.62 million in 2022 and is expected to reach USD 1,033.57 million in 2030. Moreover, in Asia Pacific, China accounted for the highest market share of 22.50% during the base year of 2022.
- Based on grade, the eicosapentaenoic acid (EPA) segment accounted for the highest share contribution to the EPA and DHA market statistics in 2022.
- In the context of source, the fish oil segment is expected to contribute significant shares to the growth of EPA and DHA market statistics during the forecast period.
- On the basis of application, the dietary supplements segment accounted for the highest share contribution to the EPA and DHA market size in 2022.
- North America is expected to boost the market demand for EPA and DHAs due to the increasing investments in new pharmaceutical manufacturing plants in countries such as the United States and Canada.
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List of Major Global EPA and DHA Market:
- KD Pharma Group
- Corbion NV
- Novasep Holding SAS
- Neptune Wellness Solutions
- BASF SE
- Omega Protein Corporation
- Croda International PLC
- Novotech Nutraceuticals
- Polaris SA
- AlgalR NutraPharms Pvt. Ltd
Global EPA and DHA Market Segmentation:
- By Type
- Eicosapentaenoic Acid (EPA)
- Docosahexaenoic Acid (DHA)
- By Source
- Fish Oil
- Algae Oil
- Krill Oil
- By Application
- Infant Formula
- Dietary Supplements
- Fortified Food and Beverages
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Frequently Asked Questions in the EPA and DHA Market Report
- What was the market size of the EPA and DHA industry in 2022?
- In 2022, the market size of EPA and DHA was USD 1,670.04 million.
- What will be the potential market valuation for the EPA and DHA industry by 2030?
- In 2030, the market size of EPA and DHA will be expected to reach USD 2,680.43 million.
- What are the key factors driving the growth of the EPA and DHA market?
- Increasing demand for dietary supplements is benefiting the growth of the global EPA and DHA market.
- What is the dominating segment in the EPA and DHA market by source?
- In 2022, the fish oil segment accounted for the highest market share of 39.30% in the overall EPA and DHA market.
- Based on current market trends and future predictions, which geographical region is the dominating region in the EPA and DHA market?
- Asia Pacific accounted for the highest market share in the overall EPA and DHA market.
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