Demand for omega-3 fortified products is forecast to rise sharply over the coming years.
According to a report from Grand View Research:
“The global omega-3 market is expected to reach USD 3.01 billion by 2022… Growing consumer demand for omega 3 owing to its benefits for physical as well as mental wellbeing is expected to propel growth over the forecast period.
Some key findings from the report suggest:
- Demand for omega-3 in infant formulas is expected to witness significant gains at a CAGR of 8.7%, in terms of volume, over the forecast period. Rising population of infants, particularly in Africa and Middle East, coupled with rising awareness among parents regarding nutrient gap is expected to propel demand for baby food with high nutrient content.
- Increasing awareness regarding the benefits of adding omega-3 to pet & animal food to improve their overall health as well as diary yield is expected to propel demand. Demand is expected to exceed 11.0 kilo tons by 2022.”
Demand is one thing, supply is another
Omega-3 is indeed essential for human health, as we have talked about many times on this website.
But where is all this omega-3 going to come from? The message that rings loud and clear from Grand View Research’s report is that we need a sustainable source of seafood like never before.
Trawling the oceans with a hunter-gatherer mentality is not the answer. Nor is flawed aquaculture. Once again, we ask key thinkers and decision-makers in the industry to address the solution of marine agriculture.
It will be interesting to see how the manufacturers and retailers in this vast chain of supply and demand address the problem. With current fishing methods, there is a finite supply of omega-3 fatty acids. Sustainably farming the seas is the only practical answer.