The global Omega 3 market was valued at USD 2,184.3 million in 2017 and is anticipated to grow at a CAGR of 7.9% during the forecast period. Omega-3 fatty acids (omega-3s) are a group of polyunsaturated fatty acids, which assist in efficient functioning of human body. The three primary omega-3 fatty acids include alpha-linolenic acid (ALA), eicosapentaenoic acid (EPA), and docosahexaenoic acid (DHA). ALA is an essential fatty acid, which must be obtained from food products or supplements since the human body does not produce it. Omega 3 can be obtained from sources such as vegetable oils, primarily canola and soybean oils, flaxseed oil and seafood including fatty fish and shellfish. Dietary supplements offering omega 3 are also available in the market. Omega-3 fatty acids assist in various bodily functions such as muscle activity, brain development and functioning, blood clotting, digestion, fertility, and cell division and growth.
The increasing geriatric population and rising awareness regarding health and balanced diet drive the growth of the market. There has been increasing awareness among consumers regarding the health benefits of omega 3, which supports the growth of the market. Consumption of omega-3 supplements results in decreased risks of prostrate, colon, and breast cancer. Use of EPA also helps in controlling anxiety, depression and other related health problems. Growing use of omega 3 in food and pharmaceutical sectors has increased the demand over the years. Other factors driving the market include improving lifestyles, and rapid urbanization. Growing demand from emerging economies, increasing consumer awareness, and rising concerns for preventive healthcare are factors expected to provide numerous growth opportunities in the coming years.
The global Omega 3 market is segmented on the basis of type, source, application, and region. Based on type, the market is segmented into Docosahexaenoic Acid (DHA), Eicosapentaenoic Acid (EPA), Alpha-Linolenic Acid (ALA). On the basis of source, the market is segmented into plant sources, marine sources, others. The application segmented in divided into functional food and supplements, pharmaceutical, infant formula, animal feed, and others. This report comprises a detailed geographic distribution of the market across North America, Europe, APAC and South America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific. North America accounted for the largest share in the Global Omega 3 market in 2017.
The leading players in the market include Omega Protein Corporation, Croda International PLC, Arista Industries Inc., Cargill, Inc., Royal DSM, Pharma Marine AS, GC Reiber Oils, Nordic Naturals Inc., Reckitt Benckiser Group plc, Pharma Nord B.V., Pharmavite LL, and Natrol LLC among others. These leading players in the market are introducing innovative products in the market to cater to the consumers. Global players are entering new markets in developing regions to expand their customer base and strengthen market presence.