Africa Omega-3 PUFA Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 7.12 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Africa Omega-3 PUFA Market Analysis
Africa Omega-3 PUFA Market is projected to register a CAGR of 7.12%, during the forecast period (2020-2025).
- Consumers are increasingly relying on alternative channels to self-diagnose and identify targeted health needs, partly driven by the fact that insurers are increasing co-pays and incentivizing their customers to take preventative care measures. This, in turn, has facilitated the rise in the demand for algae omega-3 ingredients.
- Manufacturers and suppliers involved actively in the supply chain of omega-3 in the African region are making strategic efforts to ensure a gradual flow of information regarding the health benefits associated with omega-3 enriched diets, which has largely and positively affected the sales of omega-3 ingredients in the developing countries of the region.
Africa Omega-3 PUFA Market Trends
This section covers the major market trends shaping the Africa Omega-3 PUFA Market according to our research experts:
Rising Demand for Omega 3 ingredient in Pharmaceutical Industry
The increased demand for Omega-3 PUFA applications in the pharmaceutical products owing to the health benefits, and high nutrition profile of Omega3 PUFA. Moreover, new sources of production, such as krill oil and algal oil are creating good opportunities for the market. High production costs, high capital investment, and expensive raw materials, such as fish are the restraints for the market. Low consumer awareness of the nutritional benefits of PUFA and DHA is also affecting the market. Also, poor industrialization in the region and low economic growth are hindering the market in the region.
South Africa holds the Largest Share in the Market Studied
The market in the country is in its nascent stage. Currently, most of the algae production is based on algae biofuel production in South Africa. The growing middle classes, along with increasing cases of cardiovascular diseases and malnutrition population, are increasing health awareness about omega-3 ingredients. Some limitations to the South African market are the rising living costs, lack of proper regulations on quality control, and dosage levels of algae-based EPA products. Consumer spending on health and wellness products is increasing, owing to the growing awareness of nutraceutical products.
Africa Omega-3 PUFA Industry Overview
Africa Omega-3 PUFA Market is competitive and major companies hold maximum share in the market. Emphasis is given on the merger, expansion, acquisition, and partnership of the companies along with new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers. The key players in the market are BASF SE, Arista Industries Inc., and Omega Protein Corporation among others.
Africa Omega-3 PUFA Market Leaders
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BASF SE
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Arista Industries Inc.
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Croda Inc.
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Omega Protein Corporation
*Disclaimer: Major Players sorted in no particular order
Africa Omega-3 PUFA Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Drivers
- 4.2 Market Restraints
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4.3 Porter's Five Forces Analysis
- 4.3.1 Threat of New Entrants
- 4.3.2 Bargaining Power of Buyers/Consumers
- 4.3.3 Bargaining Power of Suppliers
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 By Type
- 5.1.1 Docosahexaenoic Acid (DHA)
- 5.1.2 Eicosapentaenoic Acid (EPA)
- 5.1.3 Alpha-Linolenic Acid (ALA)
- 5.1.4 Others
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5.2 By Application
- 5.2.1 Food and Beverages
- 5.2.1.1 Functional Food and Beverages
- 5.2.1.2 Infant Nutrition
- 5.2.2 Dietary Supplements
- 5.2.3 Pharmaceuticals
- 5.2.4 Animal Nutrition
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5.3 By Geography
- 5.3.1 South Africa
- 5.3.2 Nigeria
- 5.3.3 Egypt
- 5.3.4 Rest of Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Most Active Companies
- 6.2 Most Adopted Strategies
- 6.3 Market Share Analysis
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6.4 Company Profiles
- 6.4.1 BASF SE
- 6.4.2 Arista Industries Inc.
- 6.4.3 Croda Inc.
- 6.4.4 Omega Protein Corporation
- 6.4.5 DSM
- 6.4.6 A&Z Food additives Co. Ltd.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Africa Omega-3 PUFA Industry Segmentation
Africa Omega-3 PUFA Market has been segmented by type into Docosahexaenoic acid (DHA), Eicosapentaenoic acid (EPA), Alpha-Linolenic Acid (ALA) and others. Based on the application, the market is divided into food and beverage, dietary supplements, pharmaceuticals, and animal feed. The food and beverage segment is further bifurcated into functional food and beverage, and infant nutrition. Also, the study provides an analysis of the omega 3 PUFA market in regions such as South America, Nigeria, Egypt, and rest of Africa.
| By Type | Docosahexaenoic Acid (DHA) | |
| Eicosapentaenoic Acid (EPA) | ||
| Alpha-Linolenic Acid (ALA) | ||
| Others | ||
| By Application | Food and Beverages | Functional Food and Beverages |
| Infant Nutrition | ||
| By Application | Dietary Supplements | |
| Pharmaceuticals | ||
| Animal Nutrition | ||
| By Geography | South Africa | |
| Nigeria | ||
| Egypt | ||
| Rest of Africa |
Africa Omega-3 PUFA Market Research FAQs
What is the current Africa Omega-3 PUFA Market size?
The Africa Omega-3 PUFA Market is projected to register a CAGR of 7.12% during the forecast period (2024-2029)
Who are the key players in Africa Omega-3 PUFA Market?
BASF SE, Arista Industries Inc., Croda Inc. and Omega Protein Corporation are the major companies operating in the Africa Omega-3 PUFA Market.
What years does this Africa Omega-3 PUFA Market cover?
The report covers the Africa Omega-3 PUFA Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Africa Omega-3 PUFA Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
African Omega-3 PUFA Industry Report
Statistics for the 2023 African Omega-3 PUFA market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. African Omega-3 PUFA analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
