Omega 6 Market Size, Regional Outlook, Growth Potential, COVID-19 Impact Analysis, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3590
Omega 6 Market size is expected to garner significant growth momentum over 2021-2027 led by a positive application outlook in functional foods and beverages, animal feeds, and pharmaceutical products. Today, a vast majority of consumers are focusing on adopting a healthier lifestyle, especially due to increased health concerns in wake of the global COVID-19 pandemic.
Consumers are becoming increasingly aware of the various health and medicinal benefits that omega 6 fatty acids offer. A renewed focus over health and immunity and the high occurrence rate of various lifestyle diseases are driving consumer interest in dietary supplements.
Omega 6 fatty acids help improve the function of all cells. They are also known to ensure brain development, regulate blood pressure, and strengthen the immune system. These essential fatty acids can be extremely good for heart health when consumed in the right amounts. It serves as a healthier alternative for saturated fats found in meat and dairy products. The growing burden of lifestyle diseases such as obesity, diabetes, and heart disease will positively impact omega 6 industry outlook.
Vegetable oils such as sunflower oil, soybean oil, rapeseed oil, palm oil, and sesame oil are some of the most common sources of Omega 6. The sunflower oil segment is expected to witness robust growth through 2027. Increasing awareness of consumers towards the various health benefits of sunflower oil is driving its consumption. Sunflower oil rich in omega 3 and omega 6 can improve heart, skin, and hair health. Moreover, it can prevent the risk of cancer, asthma, arthritis, and other health problems. Research evidence also show that the oil aids digestion and weight loss.
Omega 6 finds application in dietary supplements, food & beverages, animal feeds, pharmaceutical products, and other areas. Animal feeds segment is likely to account for a substantial share of omega 6 market in the future. The segment growth can be largely attributed to the changing perception of pet owners. Today, most pet owners are opting for pet foods with functional ingredients and added nutrients that strengthen the immune system.
A recent pet owner survey by food giant DSM revealed that 69% of pet owners are more likely to buy products offering optimized nutrient levels that improve immune system health. The animal feed sector is moving towards functional ingredients to keep up with the changing preferences and priorities of owners, which should augment the industry forecast.
Europe omega 6 market is poised to witness a positive growth trend during the forecast period 2021-2027. The regional product consumption will be largely driven by increasing health concerns among consumers and a large occurrence of numerous lifestyle diseases. The WHO reports that there are more than 60 million individuals with diabetes across the European region. Improved focus over health and wellbeing, growing awareness about the product benefits, and adoption of healthier lifestyle choices, particularly due to the coronavirus pandemic, will be key factors fostering the regional growth.
BASF, Koninklijke DSM, Millipore Sigma (Merck Group), Polaris Nutritional Lipids, Aker Biomarine, and Omegavia are some of the major players in the omega 6 market. These companies are placing their focus on developing new functional foods, beverages, and dietary supplements rich in omega 6 to expand their brand popularity. Developing healthy, immunity boosting animal foods is also a key area of focus for manufacturers.
COVID-19 pandemic and its impact on omega 6 market forecast
Despite supply chain disruption, fluctuation in raw material supply, and other impacts of the COVID-19 pandemic, the market is likely to experience minimal impact. The covid year witnessed an improved demand for food products that boost health and immunity. Since older individuals and people with underlying health problems are at higher risk of COVID infections, widespread adoption of healthier food choices is being observed worldwide. Similar trends are likely to be seen in the coming years which will present positive growth opportunities to the omega 6 market.
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