Heather Mills’ herbal company VBites has launched a vegan omega-3 supplement called V-mega 3. The global fish-free omega-3 ingredient market is set to generate sales of $ 590 million in 2019, Transparency Market Research report, and is estimated to be nearly $ 1.3 billion by 2029.
According to the report, the increasing importance of plant and vegan ingredients in the food sector has fueled the development of the fish-free omega-3 ingredients market. “The buyer’s knowledge of the food consumed goes beyond the benefits of omega-3 fatty acids and ensures a balanced ratio between omega-6 and omega-3 in a normal diet. With health conscious buyers around the world, demand is now changing from the type of omega fatty acid to the source. This stimulates the growth of the global fish-free omega-3 ingredient market. “
Omega 3 comes from algae
The VBites product was recently launched on the website. The website says, “Most people believe that omega-3 oil comes from fish. But the truth is that it comes from the algae that fish eat. Omega-3 oil from fish is no longer sustainable. Overfishing and fish farming are seriously detrimental to the marine environment. In addition, research has shown that the vast majority of fish caught now contain industrial toxins and pollutants. “
The company, which makes a range of fish alternatives, has perfected a technique of harvesting nutrient-rich (plant-based) algae to create a healthier, marine-friendly product. The unique process uses biomass grown under controlled production conditions and naturally occurring microorganisms instead of fish or other animals.
Replacement of krill oil substitution in omega-3 supplements to support market growth
The ongoing pattern of replacing krill oil in omega-3 supplements with vegan green natural oil will continue to support the development of the fish-free omega-3, the report said. The market scenario is likely to be very fragmented as the number of new biotech companies entering the market is rapidly multiplying. Despite the fact that the market is currently in an emerging stage, large food companies such as Cargill Inc., BASF and Koninklijke DSM NV have entered the market and expect the tremendous development potential for the future.
The manufacturers in the fish-free omega-3 ingredients market are banking on the success of the high demand for flax-based ingredients, especially in the European Union (EU) which has a sales share of around 33% of the market areas of major players in the global Fish-Free Omega-3 Ingredients Market. Geographically, it can be assumed that Europe will have the highest proportion of fish-free omega-3 ingredients in the coming years.