Omega 3 Ingredients Market: Why the Infant Formula and Pet Food Segments are the Most Lucrative Right Now
Consumers are increasingly seeking out omega-3 products, which, studies have evidenced, are beneficial to both physical and mental wellbeing. As consumer awareness about omega-3 fatty acids has heightened dramatically to reach critical mass, the omega-3 ingredients market is set to grow by leaps and bounds. In its early stages, the omega-3 ingredients market was largely inclined toward functional foods and supplements. But that stage has long passed.
A Lowdown on the Omega-3 Ingredients Market’s Future
Companies in the omega-3 fatty acids market are now facing several new growth avenues, each with the potential to grow into a multibillion dollar market in itself. Transparency Market Research, a leading business intelligence firm based in the United States, says in its report that the global omega-3 ingredients market is poised for a compounded annual growth rate (CAGR) of 15.2% between 2015 and 2021. The market stood at US$2,786.2 million in 2014, and is on the course to touch US$7,499.5 million by the end of 2021.
Browse The Market Research Report of Omega 3 Ingredients Market: http://www.transparencymarketresearch.com/global-omega-three-market.html
Omega-3 Enriched Infant Formula and Baby Food has High Parent Appeal
According to numbers provided in the world fact book published by the Central Intelligence Agency (CIA), the birth rate in emerging countries such as India, Brazil and South Africa continues to remain higher than that of developed countries such as the United States, United Kingdom, France, Germany and Australia.
The developing countries represent a minefield of opportunities for baby food, especially when it comes to products that are enriched with omega-3 ingredients and similar supplements. Parents are willing to spend more money on products that promise better nutrition; omega-3 enriched baby/infant food is one such product.
The global omega-3 ingredients market will see a robust increase in the demand for infant formula that has been fortified with omega-3 fatty acids such as DHA and EPA. By formulating infant formula and baby food products containing omega-3 fatty acids, companies can tap a white space that holds lucrative potential.
Premium Pet Foods Segment is Expanding, Paving Growth Avenue for Omega 3 Ingredients Market Players
Today, if pet food is one of the fastest-growing segments within the global food and beverage industry, it’s clearly because the adoption rate of pets has spiraled in recent years. As the household size shrinks globally and people attain the economic means to care for a pet, the global pet food market is on the brink of explosive growth. At the high end of the pet food market, products that are supplemented with omega-3 fatty acids could prove to be a game-changer for the global omega-3 ingredients market.
The inclusion of omega 3 fatty acids such as ALA, EPA, and DHA can help keep animal health in top shape. Omega-3 ingredients can also greatly benefit pets suffering from allergic and auto-immune conditions.
The demand for premium pet food is the highest in developed countries such as the United States, Japan, and UK. However, the future of the pet food market will be most dynamic in the emerging countries of India, China, and Brazil, where companies in the omega-3 ingredients market can gain an early mover advantage by partnering with pet food makers.
Browse Press Release of Omega 3 Ingredients Market: http://www.transparencymarketresearch.com/pressrelease/global-omega-three-market.htmHowever, as the global omega-3 ingredients market grows, this is the right time for market participants to find ways to overcome restraints such as the distinctive smell of omega-3 ingredients, which are largely derived from fish oil.