Global procurement intelligence advisory firm, SpendEdge, has announced the release of their ‘Docosahexaenoic Acid Market Procurement Research Report.’ The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the chemicals industry. This report breaks down the data and analysis behind the procurement of docosahexaenoic acid and acts as an all-inclusive guide for making smart purchasing decisions.
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Global Docosahexaenoic Acid Procurement Market Intelligence Report (Graphic: Business Wire)
“The consumption of omega-3 fatty acids is expected to increase during the forecast period due to growing awareness of their benefits apart from the growing concern toward maintaining health and wellness,” says SpendEdge procurement analyst A Kowshik. “Also, suppliers are looking to introduce technological and process innovation to increase the concentration of DHA, use multiple strains of microalgae and vegan-based oils, and enter into strategic collaborations,” added Kowshik.
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Procurement analysts at SpendEdge highlight the following top three market trends that are contributing to the growth of the Global Docosahexaenoic Acid Market:
- Technological and process innovations to improve concentration of omega-3 fatty acids
- Changing preferences in consuming omega-3 fatty acids across F&B applications
- Growing awareness and availability of vegan sources of omega-3 fatty acids
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Technological and process innovations to improve the concentration of omega-3 fatty acids:
Fish oil is a significant source of omega-3 fatty acids such as DHA and EPA. Several studies have been conducted to enrich the concentration of omega-3 PUFA in edible oils at lower possible costs. Moreover, the use of technological and process innovations helps enhance the concentration of omega-3 fatty acids at low prices, providing savings that can be shared by buyers. Also, the knowledge of these processes may be limited to a few suppliers, making the procurement process slightly complicated.
Changing preferences in consuming omega-3 fatty acids across F&B applications:
Omega-3 fatty acids are highly preferred as a functional ingredient in fortified F&B products apart from being consumed as vitamins and dietary supplements. Moreover, the improvements in formulation technology, the consumption of omega-3 fatty acids such as DHA and EPA is expected to increase in functional foods through bread, juices, and packaged meat products. Also, the evolution of delivery mechanisms provides F&B manufacturers to adopt omega-3 fatty acids as a core component according to the preferred application in the market.
Growing awareness and availability of vegan sources of omega-3 fatty acids:
Vegan-based alternatives that are rich in omega-3 fatty acids are now widely available. Algae oil is preferred over fish oil as it comes in the triglyceride form but is considered relatively more expensive to harness. Additionally, vegan-based products such as flaxseed oil, echium oil, and chia seeds are good sources of ALA. Also, the procurement of such oils may become more complex as the supplier of vegan sources may not as be extensive as DHA derived from fish oils.
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