Albany, NY -- (SBWIRE) -- 12/28/2018 -- According to TMR, the global omega 3 ingredients market is projected to expand at 15.2% CAGR during the forecast period between 2015 and 2021. The global omega 3 ingredients market was worth US$3.70 bn in 2016 and is estimated to reach US$7.49 bn by the end of 2021.

Application of omega 3 ingredients is widely used in supplements and functional foods pharmaceuticals due to higher product awareness and greater level of developments. On the other hand, application of omega 3 ingredients in infant formula and pet and animal feed are also gaining traction and are expected to grow during the forecast tenure. Based on geography, in 2014, North America was responsible for half of the consumption of omega 3 ingredients and but it is projected that it may loss out few share due to increasing demand for omega 3 ingredients in Asia Pacific. The rising disposable income and strengthening urbanization has increased the consumption rate in Asia Pacific.

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Increasing Awareness about the Health Benefits to Boost Market Growth

Globally the demand for omega 3 ingredient is high because of benefits associated with omega 3 acids that helps in treating diseases like prostate cancer, skin cancer, bronchial infections, and asthma. Meanwhile growing efforts in research and development activities that are making omega 3 ingredients used in wide variety of food and beverages products. Moreover, food and beverages that are rich in omega 3 ingredients are finding favorable audience in emerging economies.

Another factor responsible for the high demand for omega 3 ingredients is increasing awareness about the health benefits related with the consumption of omega 3 fatty acids regularly. Moreover, research has shown that regular consumption of omega 3 fatty acids can minimize the risk of a person suffering from prostate and skin cancer. Urbanization has also played a huge role in expand the reach of omega 3 ingredients, as people in these areas are easier to reach when it comes to nutritional supplements food additives and are also likely to fall victim to the diseases that can be avoided by consuming these supplements.

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The current application scope of omega 3 ingredients is expected to receive an overhaul over the coming years, as research and development efforts are able to make omega 3 ingredients that can be used in a wide array of food and beverage products. At the same time, the current foods and beverages that are enriched with omega 3 ingredients are finding a greater audience in emerging economies. A prime example of this would be the use of omega 3 fatty acids in infant formula. It is being made available in growing volumes in Asia Pacific, thereby significantly increasing the consumption of omega 3 ingredients in this region.