Pharmaceutical drugs, by default, have started incorporating higher concentrations of omega-3 and it is anticipated that, over the coming few years, several new companies would be jumping on to the bandwagon of omega-3 drugs, states Research and Markets report entitled Omega-3 Polyunsaturated Fatty Acids (PUFAs) – A Global Market Overview.
Several drugs are in Phase II or Phase III clinical trials, with several more expected to come on-stream quite soon.
However, the coming year or two is likely to witness an influx of new companies invading the global omega-3 market, provided they obtain the approval of US Food, Drug and Administration and other relevant authorities.
Algal sources for omega-3 PUFAS market
In a global scenario where increasing attention is being directed towards issues of sustainability and limited food supplies, algal sources offer immense scope for the rapidly expanding omega-3 market to continue in the same vein.
The focus on obtaining eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA) from algae was prompted by an endeavor to seek out more sustainable sources, since they are naturally contained in algae.
Moreover, the omega-3 content in fish and krill originates from their consuming the algae directly or other creatures that feed on algae.
In addition to being sustainable, algae also allows for farming that can be of help in putting up desirable labels, such as “vegetarian,” “kosher” or even “organic.”
Research highlights the importance of omega-3 fatty acids to health
The past several decades have been witness to research studies that have underscored the significance of omega-3 fatty acids in maintaining heart health, in addition to safeguarding against cancer and birth defects and offsetting symptoms of diabetes, arthritis, cognitive decline, depression and several other conditions.
The report states omega-3 PUFAs have been growing and continues to grow significantly in the future, attributed to health benefits.
The omega-3 PUFAs ingredients market analyzed in this study include EPA and DHA omega-3s from marine oils such as from fish, krill, squid and algal.
The end use application markets covered in the report include dietary supplements, food and beverages, pet nutrition, infant nutrition, pharmaceuticals and clinical nutrition.
Omega-3 PUFAS consumption worth US$2.3M in 2013
The worldwide consumption of omega-3 PUFAs, estimated at 123,800 metric tons worth US$2.3 billion in 2013, is forecast to be 134700 metric tons valued at US$2.5 billion in 2014.
By 2020, it is projected that demand for omega-3 PUFAs globally would reach 241,000 metric tons with a value of US$4.96 billion, thereby posting a volume compound annual growth rate (CAGR) of almost 10% and a value CAGR of 11.6% between 2013 and 2020.
