middle east and africa omega 3 concentrates Market

Number of Pages: 94

Category – Food & Beverages

Middle East & Africa Omega 3 Concentrates Market Forecast to 2027 – COVID-19 Impact and Analysis – by Form (Oil and Powder), Source (Fish, Algae, Calamari, Krill, and Others), Type [Triglyceride (TG), Ethyl Ester (EE), and Phospholipids (PL)], Concentration (High DHA, High EPA ,and Balanced EPA-DHA), and End Use (Food and Beverages, Dietary Supplements, Pharmaceuticals, Infant Formula, Personal Care and Cosmetics, and Others)

The Middle East & Africa omega 3 concentrates market was valued at US$ 69.31 million in 2019 and is projected to reach US$ 108.13 million by 2027; it is expected to grow at a CAGR of 5.8% during 2020–2027.

Omega-3 concentrates are obtained from omega-3 rich fats processed to have EPA or DHA in higher concentrations. These concentrates are mainly derived from fish oil, calamari oil, and algal oil, and are available in powdered and oil forms. They are applicable in dietary supplement manufacturing and are also used as a pharmaceutical-grade component. The market for omega-3 concentrates is driven by factors such as increasing spending on dietary supplements and healthy foods due to the rising disposable income and improving lifestyles in Middle East & Africa. In addition, key players and suppliers actively involved in the supply chain of omega-3 concentrates are developing various strategies, such as product launches, to expand the awareness regarding the health benefits associated with omega-3 enriched diets, which has bolstered the sales of omega-3 concentrates in the developing regions. Manufacturers are offering gluten-free and non-GMO omega-3 concentrates. However, the lack of awareness regarding to the health benefits of omega-3 concentrates restricts its usage, which hinders the profitable growth of the market.

Based on form, the Middle East & Africa omega-3 concentrates market is bifurcated into oil and powder. In 2019, the oil segment dominated the market. The richest and the cheapest source of EPA/DHA is fish oil. The oil contains 30–60 different fatty acids. It is an industrial product of high nutritional value owing to its content of long-chain omega-3 polyunsaturated fatty acids (PUFA)—such as Docosahexaenoic acid (DHA) and Eicosapentaenoic acid (EPA), which are currently extremely valued for their prophylactic and therapeutic properties in nutritional and healthy fields. Moreover, the market for highly concentrated omega-3 fatty acid fish oils for pharmaceuticals and dietary supplements is growing.

In terms of geography, the Middle East & Africa omega 3 concentrates market is segmented into the UAE, Saudi Arabia, South Africa, and rest of Middle East & Africa. The demand for omega-3 concentrates is expected to increase in the region due to the rising importance of EPA and DHA. EPA and DHA are becoming a part of the consumer’s regular diet owing to the increasing prevalence of lifestyle ailments and people taking precautionary healthcare measures. Besides, the growing applications of EPA and DHA in food and dietary supplements and clinical nutrition stimulates the market growth in Middle East & Africa. Also, omega-3 oils are vital fatty acids that offer a wide range of health advantages for eye, cardiovascular, and brain health. Therefore, omega-3 concentrates are extensively used in the multiple end-user applications, such as infant nutrition, dietary supplements, functional food & beverages, and pharmaceutical, which is driving the omega-3 concentrates market in the region. The surging importance of omega-3 in infant nutrition in the Middle East & Africa region stands exceptional, and as a result, there is a massive demand for omega-3 products, which is driving the omega-3 concentrates market in Middle East & Africa.

The COVID-19 pandemic has been hindering economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of the food & beverages industry and disruptions in supply chain are restricting supplies of various products. South Africa recorded the highest number of confirmed cases across Middle East & Africa. The shutdown of many food processing plants during lockdown is restraining the growth of the omega-3 concentrates market in Middle East & Africa.

BASF SE; AlaskOmega; Golden Omega S.A.; DSM Nutritional Products AG; Nordic Naturals, Inc.; Epax Norway; and Norwegian Fish Oil are among the major players present in the Middle East & Africa omega 3 concentrates market.

Overall size of the Middle East & Africa omega 3 concentrates market size has been derived in accordance with both primary and secondary sources. To begin the research process,  exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data as well as to gain more analytical insights into the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specialized in the Middle East & Africa omega 3 concentrates market.