Eicosapentaenoic Acid Market by Source, Form, Application

Description

List of Tables

[186 Pages Report] The Eicosapentaenoic Acid Market size was estimated at USD 862.50 million in 2023 and expected to reach USD 904.94 million in 2024, at a CAGR 5.16% to reach USD 1,227.44 million by 2030.

Eicosapentaenoic acid (EPA) is a long-chain omega-3 fatty acid primarily found in oily fish, fish oil supplements, and certain algae. The market for EPA encompasses its production, purification, and applications across various industries. The terrain of the EPA market includes pharmaceuticals, dietary supplements, food & beverages, and animal nutrition, highlighting its diversification in usage and end-consumer benefits. The scope of the EPA market is expanding, with innovation driving into new applications, including biofuels and bioplastics, indicating a broad horizon for growth and development. Growing consumer awareness regarding health and wellness, alongside the desire for natural dietary supplements, significantly drives the demand for EPA. Continuous research substantiating EPA's efficacy in treating and managing various health conditions bolsters its adoption in pharmaceuticals. Favorable regulations encouraging the use of omega-3s in food and dietary supplements positively affect market growth. Growing attention to sustainable sources of EPA, including microalgae, presents a significant opportunity for eco-conscious market adaptation. Additionally, rising pet healthcare expenditures are also expected to boost the scope for eicosapentaenoic acid within animal nutrition segments.

KEY MARKET STATISTICS
Base Year [2023]	USD 862.50 million
Estimated Year [2024]	USD 904.94 million
Forecast Year [2030]	USD 1,227.44 million
CAGR (%)	5.16%

Regional Insights

The Americas represent a significant market for eicosapentaenoic acid (EPA) owing to the high awareness of omega-3 benefits among consumers and well-established healthcare sectors. The region shows a robust demand for EPA in dietary supplements due to the growing emphasis on preventive healthcare and an aging population prone to cardiovascular diseases. The U.S. holds a significant position in the pharmaceutical sector, where EPA is extensively utilized in formulations aimed at treating conditions including hypertriglyceridemia. The regulatory support from agencies including the FDA for omega-3-based therapeutic products further scaffolds the market growth in this region. The presence of major market players, coupled with aggressive marketing strategies and consumer education on the benefits of omega-3 fatty acids, bolsters the market expansion. The Asia-Pacific region is experiencing rapid growth in the eicosapentaenoic acid market, driven by rising health consciousness and disposable incomes, especially in countries including China, Japan, and India. Japan, being one of the largest consumers of EPA, holds a significant market share due to its traditional diet rich in fish. The region is witnessing a surge in the demand for dietary supplements as consumers are increasingly inclined towards preventive healthcare measures. Additionally, the expansion of the pharmaceutical sector in APAC countries, aimed at developing advanced treatment options for cardiovascular and neurodegenerative diseases, further propels the demand for EPA. Innovation in product development, coupled with an increase in the aquaculture industry, specifically focusing on EPA-rich fish farming, is set to boost the market's growth potential in this region. The EMEA region exhibits a growing interest in Eicosapentaenoic Acid, with Europe leading the charge. The increasing awareness about the benefits of omega-3 fatty acids, coupled with a rising elderly population susceptible to chronic diseases, fuels the demand for EPA-enriched dietary supplements. European countries, with their stringent regulatory frameworks for nutritional products, present a promising market for high-quality, EPA-based pharmaceuticals. The Middle East and Africa are emerging markets with vast growth potential, attributed to a gradual shift towards health and wellness trends and improving healthcare infrastructure. While Europe's mature market focuses on innovation and stringent quality standards, the Middle East and Africa offer untapped opportunities driven by economic diversification and an increasing focus on preventive healthcare.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Eicosapentaenoic Acid Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
- Significance of EPA for lowering risk of rising prevalence of chronic diseases
- Rise in spending on nutritional and infant food products

Market Restraints
- Issues associated with availability of raw materials required for EPA

Market Opportunities
- Introduction of sustainable and vegan EPA
- Rising investments to expand EPA offerings

Market Challenges
- Possibilities of side effects associated with consumption of EPA

Market Segmentation Analysis
- Source: Growing usage of algal oil that provides a sustainable alternative and meets the ongoing trend of plant-based diets
- Application: Rising potential of eicosapentaenoic acid in functional food & beverages to provide added health benefits

Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Eicosapentaenoic Acid Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Eicosapentaenoic Acid Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Amneal Expands Portfolio with Addition of Icosapent Ethyl Acid Soft Gel Capsules

Amneal Pharmaceuticals, Inc. and Strides Pharma Science Limited announced their strategic collaboration for the introduction of Icosapent Ethyl soft gel capsules, a VASCEPA reference product. This innovative product, available in 0.5g and 1g dosages, is an adjunctive treatment to dietary adjustments to lower triglyceride levels in adults with severe hypertriglyceridemia (>=500 mg/dL). [Published On: 2023-12-01]

Biomar Forms Partnership to Commercialise Omega-3 Camelina

BioMar, a producer of salmon feed, entered into a strategic partnership with Yield10 Bioscience, a U.S.-based company, to bring to market a revolutionary genetically modified oilseed crop rich in omega-3 fatty acids EPA (eicosapentaenoic acid) and DHA (docosahexaenoic acid), matching the levels found in traditional fish oil. This innovation presents a land-based, sustainable alternative for sourcing omega-3s, essential components in aquaculture feeds. [Published On: 2023-10-31]

Amarin and Neopharm Announce Exclusive Commercialization Agreement for Vazkepa (Icosapent Ethyl) in Israel

Amarin Corporation plc and Neopharm Israel officially announced their exclusive partnership for the marketing and commercializing of VAZKEPA (icosapent ethyl) in Israel, Gaza, the West Bank, and territories under the Palestinian Authority. VAZKEPA capsules, featuring icosapent ethyl as their sole active ingredient-a highly purified form of eicosapentaenoic acid-represent the first prescription therapy of its kind. This strategic alliance leverages Neopharm's significant expertise and strong presence in cardiology to ensure VAZKEPA's accessibility to patients in need, especially those at elevated cardiovascular risk. [Published On: 2023-08-08]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Eicosapentaenoic Acid Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Eicosapentaenoic Acid Market, highlighting leading vendors and their innovative profiles. These include AlgiSys BioSciences Inc., Archer Daniels Midland Company, Arctic Nutrition AG, Asterisk Laboratories (I) Pvt. Ltd., BASF SE, BIOSEARCH, SA, Cayman Chemical Company, Corbion N.V., Croda International PLC, Epax Norway AS, Evonik Industries AG, Golden Omega S.A., Indo Rama Engineers, KD Pharma Group, Koninklijke DSM N.V., Novasep Holding SAS, Novotech Nutraceuticals, Inc., Omega Protein Corporation, Orkla Health AS, Pelagia AS, Santa Cruz Biotechnology, Inc., Shandong Yuwang Pharmaceutical Co., Ltd., SimSon Pharma Limited, Sinomega Biotech Engineering Co.,Ltd., and Toronto Research Chemicals Inc..

Market Segmentation & Coverage

This research report categorizes the Eicosapentaenoic Acid Market to forecast the revenues and analyze trends in each of the following sub-markets:

Source
- Algae
- Fish
- Krill

Form
- Ethyl Esters
- Triglycerides

Application
- Dietary Supplements
- Functional Food & Beverages
- Pharmaceuticals

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

Product Code: MRR-C002B1C996DE

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Significance of EPA for lowering risk of rising prevalence of chronic diseases
  - 5.1.1.2. Rise in spending on nutritional and infant food products
- 5.1.2. Restraints
  - 5.1.2.1. Issues associated with availability of raw materials required for EPA
- 5.1.3. Opportunities
  - 5.1.3.1. Introduction of sustainable and vegan EPA
  - 5.1.3.2. Rising investments to expand EPA offerings
- 5.1.4. Challenges
  - 5.1.4.1. Possibilities of side effects associated with consumption of EPA
5.2. Market Segmentation Analysis
- 5.2.1. Source: Growing usage of algal oil that provides a sustainable alternative and meets the ongoing trend of plant-based diets
- 5.2.2. Application: Rising potential of eicosapentaenoic acid in functional food & beverages to provide added health benefits
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Eicosapentaenoic Acid Market, by Source

6.1. Introduction
6.2. Algae
6.3. Fish
6.4. Krill

7. Eicosapentaenoic Acid Market, by Form

7.1. Introduction
7.2. Ethyl Esters
7.3. Triglycerides

8. Eicosapentaenoic Acid Market, by Application

8.1. Introduction
8.2. Dietary Supplements
8.3. Functional Food & Beverages
8.4. Pharmaceuticals

9. Americas Eicosapentaenoic Acid Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Eicosapentaenoic Acid Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Eicosapentaenoic Acid Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. Amneal Expands Portfolio with Addition of Icosapent Ethyl Acid Soft Gel Capsules
- 12.3.2. Biomar Forms Partnership to Commercialise Omega-3 Camelina
- 12.3.3. Amarin and Neopharm Announce Exclusive Commercialization Agreement for Vazkepa (Icosapent Ethyl) in Israel
12.4. Strategy Analysis & Recommendation

13. Competitive Portfolio

13.1. Key Company Profiles
13.2. Key Product Portfolio