Indian Omega-3 Consumption to grow by 11% CAGR to reach 2300 MTs by 2020
Monday 12 May 2014
Industry Experts, a multi industry focused market research firm, has today announced the release of an exclusive research report on Indian Omega-3 market. The report titled ‘Omega-3 Polyunsaturated Fatty Acids (PUFAs) – An Indian Market Overview’ reveals that the market for Omega-3 is estimated to reach 1.2k metric tons valued at US$14.2 million in 2014.
It is evident from the industry players that as a whole the Indian omega-3 market is not performing upto expectations due to the lack of promotional activities to make consumers aware of helath benefits asscoaited with the intake of omega-3 fatty acids. Among omega-3 ingredient sources algal oil is expected to grow faster than the fish oil, attributed to the large vegetarian population in India.
Indian market for omega-3 polyunsaturated fatty acid (PUFAs) ingredients is in growth stage of its lifecycle. Omega-3 fatty acids have been used in food fortification and dietary supplements from a long period in India. Consumer awareness of omega-3 health benefits and rising disposable income, especially in urban areas of the country, will lead the market growth in the future. It is estimated that the market will grow by a healthy rate of 11.4% CAGR from 2013 through 2020 in terms of volume, where as in terms of value it is projected to touch US$29.4 million by 2020 growing at a CAGR of 13%.
Dietary supplements sector is the largest consumer of omega-3 ingredients in terms of volume and value, followed by food & beverage fortification sector. Fish oil sourced omega-3 ingredients dominate the dietary supplements sector, while algal DHA oils are leading in food & beverage fortification industry. Other end-use application industries for omega-3 ingredients include infant nutrition with a significant consumption and pet nutrition with least consumption in terms of volume. Pharma and clinical nutritional applications are yet to be developed in the Indian omega-3 market.
This 140 pages most comprehensive report provides an in-depth analysis of the Indian Omega-3 market. The study includes the brief business profiles of major global players along with the Indian companies; the global regulatory landscape for omega-3 has also been included in this report. The report discusses the market by end-use application, raw material and concentration type; also illustrates the import export scenario of Omega-3 PUFA ingredients.
For more details, please visit http://industry-experts.com/verticals/general/omega-3-polyunsaturated-fatty-acids-pufas-marine-algal-a-Indian-market-overview.html