Market Trends of Europe Omega-3 Products Industry
Health Benefits Associated with Omega-3 Consumption
- Omega-3 fatty acids, particularly EPA and DHA, are essential in the human diet for proper growth, development, and good health. These are particularly good for heart health, joint and inflammation support, eye health, cognitive function, pregnancy and healthy child development, and immune function, among other benefits.
- Recently, deaths from cardiovascular disease have witnessed an increase in the region, though mortality rates have decreased. According to Office for National Statistics data 2021, England witnessed 38,683 deaths due to ischaemic heart disease. Consequently, consumer demand for healthy and functional food is increasing in the region. The market players are expanding their portfolios with mergers, acquisitions, and joint ventures.
- For instance, in November 2021, Huvepharma, a leading global animal and human health and nutrition company, started Huva Nutraceuticals, a joint venture for large-scale production of vegan omega-3 algal oils for food and beverage markets.
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Germany Holds the Largest Market Share
- Consumers in the country are becoming aware of the importance of consumption of functional food and dietary supplements owing to changing climate, changing lifestyle, and increasing number of chronic diseases like cardiovascular diseases, obesity, and many more. Fish and seafood consumption in Germany is increasing owing to health benefits and rich sources of omega fats in it.
- The growing trend towards vegan and vegetarian diets is leading to an increased demand for plant-based sources of omega-3 fatty acids. As these diets typically exclude fish and seafood, rich sources of EPA (eicosapentaenoic acid) and DHA (docosahexaenoic acid), it can be challenging for vegans and vegetarians to obtain sufficient amounts of these important nutrients.
- As a result, there has been a rise in the availability of vegan omega-3 products in the market. Many of these products are derived from plant-based sources such as algae, flaxseeds, chia seeds, and hemp seeds. Some companies are also developing supplements that contain concentrated forms of EPA and DHA extracted from algae or other plant-based sources.
- Due to this, the demand for vegan omega-3 products is increasing in the region. The market players invented vegan omega- 3 supplements made from algae that give the same types of benefits and can be consumed by vegan consumers.
- For instance, in October 2022, the European Commission authorized DSM's newly launched plant-based omega-3 solution for consumption and use in fish and meat alternatives across the EU. According to DSM, the product will improve the nutritional profile of plant-based products and allow for next-generation products that mimic those of animal-based fish products.
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