The latest market forecast report published by Transparency MarketResearch on the fish-freeomega-3 ingredients market includes the global industryanalysis and opportunity assessment for the period of 2019-2029. Revenuegenerated from the global fish-free omega-3 ingredients market has beenestimated to be valued at ~ US$ 590 Mn in 2019,which is projected to increase at a CAGR of ~ 9%, to reach a valueof ~ US$ 1.3 Bn by 2029.
Vegans & Vegetarians Demand Fish-free Omega-3Ingredients and Supplements
All three types of omega-3 are important, but evidence shows that, DHAand EPA have unique benefits, especially for boosting brain health, reducinginflammation, and improving retinal health. For vegans (vegetarians who eatfood derived only from plant sources) and vegetarians, it is difficult to getadequate amounts of omega-3 fatty acids in their diet, as the two essentialomega-3 fatty acids, DHA (docosahexaenoic acid) and EPA (eicosapentaenoicacid), are mostly derived from fish and animal sources. Omega-3 ingredientsderived from plant sources only contain ALA (alpha-linolenic acid), which is aprecursor form that gets converted to DHA & EPA inside the body.
Since there are not many sufficient vegan food sources of EPA and DHA,those who follow a vegan diet often have lower levels of these fatty acids intheir blood. Therefore, keeping vegan and vegetarian diets in mind,manufactures are developing products from algal oil or plant-based productssuch as chia seeds, flaxseed oil, canola oil, hemp seeds, walnuts, and others,which are growing as fish-free omega-3 ingredients.
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Growing Need for an Alternative to Fish-derivedOmega-3 Ingredients
Many fish-derived oil supplements in the market are rancid, i.e.oxidized. Rancid oils/fats can damage cells and contribute to atherosclerosis.Free radicals from rancid oils are known to damage DNA cells. Free radicals areproduced by toxins as well as by normal bodily processes, and can cause damageto the arteries and also act as carcinogens.
Fat-soluble pollutants such as polychlorinated biphenyls may biomagnifyin marine food chains and end up in concentrated amounts in fishy oilsupplements. This accumulation is causing contamination and fastening theprocess of oxidation of supplement oils/ fats.
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Demand for Algae-based Omega-3 Supplements Expectedto Grow Rapidly
Fish are the major source of omega-3 for the production of varioussupplements. Fish obtain omega-3 by consuming algae. Therefore, the usage ofalgae as a new alternative source to fish is anticipated to grow rapidly in thefish-free omega-3 ingredients market.
Supplements developed from algal oil have the same omega-3 benefits andnutritional content as fish-derived oils. Algal oil is free from contaminantssuch as heavy metals, bio-accumulated toxins, and pollutants. Vegan diets lackEPA and DHA, which can consumed through supplement products manufactured fromalgal oil.
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Omega-3 - Preferred Ingredient in Convenience andProcessed Foods
Increasing health awareness and growing preference for processedfood/diets with low fat, sugar, and salt content among consumers are factorsexpected to prompt the manufacturers of food & beverages to review currentmarketing practices and adopt new techniques to increase their revenue sharesin the fish-free omega-3 ingredients market.
· In May2004, the World Health Organization (WHO) initiated a global strategy on diet,physical activity, and health, and provided certain recommendations to the food& beverages industry, which included limiting the levels of saturated fats,trans-fatty acids, free sugars, and salt in existing products, and promotinghealthy and nutritious products.
In North America, the millennial demographic constitutes a large shareof the consumption of ready-to-eat and processed food products. The consumptionof take-away food has also risen considerably due to its convenience, which isfurther expected to drive the growth of the fish-free omega-3 ingredientsmarket during the forecast period.
Fish-free Omega-3 Ingredients Market: TediousProcess of Regulatory Approval
The restraining factor for the fish-free omega-3 ingredients market isslow regulatory approval for health claims. For medicines and drugs, afterclearing the phase III trial, approval for prescription takes another six totwelve months. There are various steps included for the drug to be approved forprescription, which include the discovery and development process that beginsin the laboratory. During the second step, drugs undergo laboratory and animaltesting to clear basic safety questions. The third step involves clinicalresearch, where drugs are tested on people to make sure they are effective andsafe. Later, an FDA examination takes places for the final approval. For anydrug, supplement, or medicine, it usually takes around 10 years to be developedand approved for prescription. So, in order to sanction any sort of healthclaim, the wait is quite long, which hampers the growth of the fish-freeomega-3 ingredients market, significantly.
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