LAMEA Omega 3 Market Size, Share & Industry Trends Analysis Report By Type, By Application, By Source, By Country, Historical Data and Growth Forecast, 2021 - 2027
Special Offering: Industry Insights | Market Trends | Highest number of Tables | 24/7 Analyst Support
Get in-depth analysis of the COVID-19 impact on the LAMEA Omega 3 Market
Market Report Description
The Latin America, Middle East and Africa Omega 3 Market would witness market growth of 9.2% CAGR during the forecast period (2021-2027).
Due to the expanding product application breadth in medicines, an increasing number of omega 3-based pharmaceutical product releases by market participants is likely to boost market growth. For example, BASF Nutrition and Health, in collaboration with Ideogen, developed an omega 3 product to treat Non-Alcoholic Fatty Liver Disease (NAFLD), a chronic illness, in November 2019.
Advanced manufacturing technologies are being aggressively adopted by manufacturers. To ensure optimal delivery of the healthful properties of fish oil, manufacturers are focusing on effective removal of environmental pollutants from fish oil, limiting oxidation in the production process, and concentrating the omega 3 content in the final product. For example, Smartfish has developed manufacturing procedures that prevent oil from oxidizing and give high-temperature tolerance.
Brazil, with its expanding need for health supplements, is driving product demand in Central and South America. Companies in the region are projected to increase their investments in manufacturing facilities and R&D activities, which will boost the market growth. For example, Wiley Company manufactured its first Omega-3 concentration powder in CSA in March 2020, which was developed without the fishy flavour or odour. With the constantly increasing cases of mental illness in UAE, government is taking initiatives to improve the mental condition of the people.
The Brazil market dominated the LAMEA Omega 3 Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $64.8 million by 2027. The Argentina market is experiencing a CAGR of 9.8% during (2021 - 2027). Additionally, The UAE market would exhibit a CAGR of 8.9% during (2021 - 2027).
Based on Type, the market is segmented into Docosahexaenoic acid (DHA), Eicosapentaenoic acid (EPA), and Alpha-linolenic acid (ALA). Based on Application, the market is segmented into Supplements & Functional Foods, Pharmaceuticals, Infant Formula, Animal Feed & Pet Food and Others. Based on Source, the market is segmented into Marine Source and Plant Source. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Omega 3 Market is Predict to reach $3 Billion by 2027, at a CAGR of 7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Aker BioMarine AS, GC Rieber VivoMega AS (GC Rieber group), Epax Norway AS (Pelagia Holding AS), FMC Corporation, BASF SE, Koninklijke DSM N.V., Lonza Group AG, Orkla ASA (Orkla Health), Croda International PLC, and Omega Protein Corporation (Cooke, Inc.).
Scope of the Study
Market Segments Covered in the Report:
- Docosahexaenoic acid (DHA)
- Eicosapentaenoic acid (EPA), and
- Alpha-linolenic acid (ALA)
- Supplements & Functional Foods
- Infant Formula
- Animal Feed & Pet Food and
- Marine Source and
- Plant Source
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Aker BioMarine AS
- GC Rieber VivoMega AS (GC Rieber group)
- Epax Norway AS (Pelagia Holding AS)
- FMC Corporation
- BASF SE
- Koninklijke DSM N.V.
- Lonza Group AG
- Orkla ASA (Orkla Health)
- Croda International PLC
- Omega Protein Corporation (Cooke, Inc.)
Unique Offerings from KBV Research
- Exhaustive coverage
- The highest number of market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free