Increase in the Overall Global Spending on Consumer Products Containing Omega-3 Fatty Acid Driving the Growth in the Global Docosahexaenoic Acid Market
London, Feb 09, 2018: The global docosahexaenoic acid market is expected to grow due to increase in the overall global spending on consumer products that contain omega-3 fatty acids. This can be attributed to increasing popularity of omega-3 supplements extracted from fish oil, krill oil, and other vegetarian sources. According to research estimates, the market for DHA omega-3 packaged products was close to US$35 billion in 2016.
SpendEdge’s latest procurement research report on the global docosahexaenoic acid market offers an in-depth assessment of the crucial factors influencing the supply market, strategic procurement and sourcing decisions, pricing models, and procurement best practices. The report, a part of the chemicals portfolio, also offers detailed insights into the supply chain management, key market developments, and demand-supply shifts to help sourcing and procurement experts make smart procurement decisions.
“The potential in algae and krill oil is expected to continue increasing as they are substitutes for obtaining omega-3 fatty acids. Also, growing urbanization, increase in per capita income, and awareness on maintaining a healthy lifestyle will propel the consumption of products with docosahexaenoic acid” – A. Kowshik, chemicals procurement research specialist at SpendEdge.
Frequent amendments to the existing regulation on concentration claim of omega-3 fatty acids within products apart from content on labeling impact product launches in markets and potentially create delays in obtaining regulatory approvals. Buyers in the docosahexaenoic acid market are facing major procurement challenge due to frequent changes in regulatory policies on labeling and concentration claims.
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This procurement report on the docosahexaenoic acid market offers insights on:
- Supply markets, growth drivers, trends, and imminent restraints
- Key suppliers and assessment of their capabilities
- Procurement best practices
- Negotiation strategies and cost-saving opportunities
- Pricing models and category innovations
- For a comprehensive, detailed list, view our full report
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