With the rising competition in the microencapsulated omega-3 powders market, manufacturers have been rethinking their distribution and product projecting strategies.
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The global microencapsulated omega-3 powders market size is likely to exceed US$ 17.4 Bn in 2032 and exhibit steady growth at a CAGR of 8.2% in the forecast period from 2022 to 2032. Increasing product consumption on the back of changing dietary habits and the rising prevalence of cardiovascular diseases is set to push growth.
As per a report by FMI, demand for microencapsulated omega-3 powders is projected to reach US$ 10.5 Bn in 2022. Surging investment by consumers in products associated with their healthcare and well-being is anticipated to bode well for the market.
A rise in the hectic schedules of consumers have contributed to a notable shift towards junk food and?packaged food, which is devoid of the required quantity of nutrients. With the bridging of the information gap apropos of the importance of nutrition for bodily functions, high trends of consuming dietary supplements have been witnessed, which is projected to hold sustained growth opportunities for the microencapsulated omega-3 powders market in the upcoming years.
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Microencapsulated Omega-3 Powders Market – Novel Developments
Significant players functioning in the microencapsulated omega-3 powders market have been striving to create strong brand recall value by strategically positioning their products in the storefronts and streamlining their distribution channels. Diversification of their product portfolio by enriching the product is yet another strategy observed in the microencapsulated omega-3 powders market. A large number of promotional activities are undertaken by the companies to create awareness pertaining to the novel product launches and their unique selling propositions.
Some of the key players operating in the microencapsulated omega-3 powders market include KD Pharma Group, Venketesh Biosciences LLP, Wincobel, Stepan Company, Socius Ingredients, Benexia, Biosearch, SA, Glanbia Nutritionals, Clover Corporation, Skuny Bioscience Co., Ltd., BASF SE, Novotech Nutrition, and Koninklijke DSM N.V.
In September 2017, Benexia – a significant player functioning in the microencapsulated omega-3 powders market announced the launch of ALA Powder, which contains ALA fatty acid in rich quantities and boasts the same stable nature as that of Chia oil. The powder can be used as a nutritional supplement for instant soup,?baby food, chocolate, infant formula, and?cocoa powder.
In February 2019, Glanbia Nutritionals completed the acquisition of Watson with the sole objective to cement its current position as a market leader in the nutritional sector. The transaction will help in expanding the competency set of Glanbia such as?edible film?technologies, microencapsulation, agglomeration,?spray drying, and micronizing capabilities.
Ease of Product Distribution with Ecommerce to Lend Promising Sales Probabilities
With the rising competition in the microencapsulated omega-3 powders market, manufacturers have been rethinking their distribution and product projecting strategies. This has resulted in the use of supermarkets/hypermarkets for the showcasing of their products and increasing their sales prospects. Advent of ecommerce has further offered lucrative sales opportunities to the microencapsulated omega-3 powders with its capability to map geographical footprints. This has offered the consumers with the ease to the accessibility of these dietary supplements irrespective of their location, which is anticipated to intensify the sale probabilities of these supplements and in turn create favorable growth scenarios for the microencapsulated omega-3 powders market.
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Food and Beverage Industry to Remain a Key Contributor to the Growth of the Microencapsulated Omega-3 Powders Market
Growing cognizance apropos of maintaining the wellbeing has shifted the preference of consumers towards healthy food products. Observing this affinity of the consumers towards nutritional diet, manufacturers operating in the food and beverage industry have been leveraging these dietary supplements to enhance the desirability of their products. As a result, the food and beverage industry has been acting as a significant growth driver for the dietary supplements market in general and microencapsulated omega-3 powders market in particular.
Microencapsulated Omega-3 Powders Market – Segmentation
The microencapsulated omega-3 powders market can be bifurcated on the basis of:
Depending on the nature, the microencapsulated omega-3 powders market can be bifurcated into:
Based on the distribution channel, the microencapsulated omega-3 powders market can be classified into:
On the basis of type, the microencapsulated omega-3 powders market can be segmented into:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Apr 16, 2023
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