Omega 9 Market Size, Regional Outlook, Application Development Potential, Price Trends, COVID-19 Impact Analysis, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3591
Omega 9 Market size is slated to experience rapid growth in the food, nutrition, and animal feed space during the forecast period 2021-2027. Global rise in the product demand can be linked with increased concerns regarding health and wellbeing among consumers. Due to widespread occurrence of various lifestyle diseases such as heart disease, diabetes, and cardiovascular problems, more and more people are making necessary changes to their diets. The trend has been further accelerated by the global COVID-19 pandemic, leading to a rise in immunity boosting foods and supplements.
Omega 9 fatty acids offer a number of health and medicinal benefits when consumed moderately. They are believed to boost the levels of HDL (good cholesterol) and lower LDL (bad cholesterol) levels. Moreover, consuming foods rich in omega-9 are significantly healthier than other types of fats. Since higher, unhealthy cholesterol levels can elevate the risk of heart attack or stroke, especially among older individuals, the popularity of foods and substances that help maintain healthy levels of cholesterol is on a significant rise. Increasing consumer awareness towards these benefits and changing eating habits will augment omega 9 industry forecast.
Omega 9 is generally derived from olive oil, canola oil, mustard oil, wallflower seeds, nuts, and other sources. The olive oil segment is expected to witness an upward growth trend through 2027. Olive oil has gained enormous popularity among consumers over the years, especially those individuals who are looking to cut down weight or to maintain a healthy weight. Besides aiding weight loss, it is known to prevent the risk of stroke, heart disease, and cardiovascular problems. Olive oil will continue to witness increasing consumption in the coming years, positively impacting the market outlook.
In terms of the applications, dietary supplement segment is likely to hold a significant share of the omega 9 market. The demand and consumption of different types of health supplements has increased tenfold in recent years, as consumers become increasingly conscious about their health and wellbeing. Since the outbreak of the coronavirus pandemic, consumers are paying increased attention to foods and supplements that strengthen immune system health. Similar trends may be witnessed in the next few years, which will certainly boost the consumption of omega 9 supplements.
Geographically, North America omega 9 industry will record substantial gains by the end of 2027, largely due to the prevalence of heart disease. According to the U.S. Centers for Disease Control and Prevention (CDC), heart disease is among the leading causes of death in the U.S. With the increasing burden of lifestyle diseases and growing health concerns, consumer demand for products that benefit heart health is continuously increasing. The regional food, beverage, and supplement brands are looking to develop products rich in omega 3, omega 6, and omega 9 to capitalize on the increasing market demand.
Dow AgroSciences, Haihang Industry, Connoils, Biovaxia Pharma, and Vibcare Pharma are a few notable players in the omega 9 market. Research, development, and product innovation remain top strategies among manufacturers as they anticipate a robust market demand in the future. Collaboration with other brands, acquisitions, and mergers are among other strategies that companies are adopting to stay ahead of the competition.
COVID-19 pandemic and its impact on omega 9 market trends
The COVID-19 pandemic has impacted many verticals within the food and nutrition space due to supply chain issues and shortage of materials, which has posed challenges for manufacturers. However, throughout the pandemic, the demand for foods and supplements that promote health immunity has remained strong. The prevailing nature of the pandemic and increased consumption of nutrition rich products should positively influence omega 9 market forecast over 2021-2027.
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