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The market for Omega-3 Polyunsaturated Fatty Acids (PUFAs) is expected to grow by a healthy rate of 11.4% CAGR from 2013 through 2020 in terms of volume, where as in terms of value it is projected to touch $29.4 million by 2020 growing at a CAGR of 13%.
A report from Research and Markets on “Omega-3 Polyunsaturated Fatty Acids (PUFAs) – An Indian Market Overview says that Indian market for PUFAs ingredients is in growth stage of its lifecycle. Omega-3 fatty acids have been used in food fortification and dietary supplements from a long period in India. Consumer awareness of omega-3 health benefits and rising disposable income, especially in urban areas of the country, will lead the market growth in the future.
However the report pointed out that it is evident from the industry players that as a whole the Indian omega-3 market is not performing upto expectations due to the lack of promotional activities to make consumers aware of health benefits associated with the intake of omega-3 fatty acids. Among omega-3 ingredient sources algal oil is expected to grow faster than the fish oil, attributed to the large vegetarian population in India.
According to report, some the key players in this space include ABL Biotechnologies Ltd, Ambe Phytoextracts Pvt Ltd, Amway India Enterprises Pvt Ltd, Anshul Life Sciences, Arbee Biomarine Extracts Pvt Ltd, Arjuna Natural Extracts Limited, Avesthagen Ltd, Blueline Foods (India) Pvt Ltd, British Biologicals Ltd., Coastal Aquatic Proteins, Dr. Reddy’s Laboratories Ltd, Ennature Biopharma, Guardian Lifecare Private Ltd, Herbalife International India Pvt Ltd, Merck Limited, Mukka Sea Food Industries Pvt Ltd, Parry Nutraceuticals, Prismack Biotechnics Ltd., Raj Fishmeal and Oil Company, Sanofi India Ltd, Softgel Healthcare Pvt Ltd, Twilight Litaka Pharma Ltd, Unived Healthcare Products, Vasta Biotech Pvt Ltd, Veda-Vida Innovations Pvt Ltd.