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omega 3 market

Omega 3 Market Share, Size, Trends, Industry Analysis Report, By Application (Pharmaceuticals, Dietary Supplements, Animal Feed, Food & Beverages, Others); By Source (Plant-based, Marine Based); By Type; By Region; Segment Forecast, 2022 - 2030

  • Published Date: Jun 2022
  • Pages: 119
  • Format: PDF
  • Report ID: PM1061
  • Base Year: 2021
  • Historical Data: 2018 - 2020

Report Summary

The global omega 3 market was valued at USD 2.19 billion in 2021 and is expected to grow at a CAGR of 8.0% during the forecast period. Prominent factors accountable for increased product intake involve growing incidents of cardiovascular diseases and altering dietary habits. The growing significance of immunity development post-covid-19 pandemic has further reinforced the driving force for the market.

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The soaring involvement of omega 3 components in the diet to sustain heart and brain health is anticipated to boost product demand. Additionally, growing consumer investment in wellbeing and healthcare is predisposed to fuel the industry's growth. Fluctuating lifestyle coupled with a surge in cases of chronic diseases has boosted the growth of the omega 3 industry.

The covid-19 pandemic has positively impacted the global Omega 3 market. There has been a surge in demand for the industry due to improvisation in health and immunity. The spreading of propositions from doctors globally to include immunity-boosting dietary supplements in everyday life is massively contributing to escalated adoption of products by consumers.

The companies functioning in the industry have witnessed disruption in the supply chain predominantly due to the restriction of transportation. They have enormously spiked logistics and transportation costs connected to the ongoing pandemic. Additionally, inceptive lockdowns and prolongation have caused labor shortages covering some manufacturing facilities.

Prominent aspects amongst the consumers are product detail transparency, product safety, and hygiene concerns. By guaranteeing said factors are considered while raw material sourcing, product manufacturing, and packaging, Omega 3 industry players can enhance their market values and importance and growth in their sales. Omega 3 is a family of necessary fatty acids that play an essential role in the body and may offer enormous health benefits. As the body cannot produce them by itself, it has to be obtained by the diet. Also,

Industry Dynamics

Growth Drivers
The current identification of the positive health impact of Polyunsaturated Fatty Acids (PUFA) has generated huge demand. The product is utilized in several applications such as functional foods, dietary supplements, and pharmaceuticals. Many recent clinical studies indicate the intake of PUFAs essentially supports cardiovascular health and several other functions in the body. The increasing consciousness regarding the omega 3 fatty acids' advantages consequence of essential fatty acids is propelling the demand for long-chain PUFAs.

The growing number of omega 3-related pharmaceutical product launches by market players, owing to the increasing product application scope in medicines, is anticipated to boost the market growth. Also, factors such as rising adoption of omega 3-based products in pet food and pharmaceuticals, rising disposable income, and increasing public initiatives in terms of health and wellbeing are further expected to flouri0sh the market growth.

One of the prominent factors bearing omega 3 market growth is the progressive technological advancements that raise the delivery and absorption of these substances in the body. The production of lipid-based supplements stays a demanding attempt through the unpredictable bioavailability and absorption rate. Additionally, the progressions in processing techniques that warrant the extraction of omega 3 from novel sources will fuel the demand for the product.

Report Segmentation

The market is primarily segmented based on type, source, application, and region.

By Type

By Source

By Application

By Region

  • DHA (Docosahexaenoic Acid)
  • ALA (Alpha-linolenic Acid)
  • EPA (Eicosapentaenoic Acid)
  • Plant-based
  • Marine-based
  • Pharmaceutical
  • Dietary Supplements
  • Animal Feed
  • Food & Beverages
  • Others

 

  • North America (U.S., Canada)
  • Europe (France, Germany, UK, Italy, Spain, Netherlands, Russia)
  • Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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Insight by Type

Docosahexaenoic Acid (DHA) dominated the market with a high revenue share because DHA aids in reducing bad cholesterol and enhances health conditions in n persons encountering blood pressure-related worries. The growing pervasiveness of coronary heart diseases globally is anticipated to fuel the demand for DHA Omega 3.

Eicosapentaenoic Acid (EPA) is anticipated to be a speedily growing segment because of the increasing demand for dietary supplements that are immunity boosting. EPA displays anti-inflammatory properties, thereby enhancing the body's immunity response. The European Food Safety Authority (EFSA) has advocated a daily dose of DHA/EPA to advance infant brains and nervous systems in pregnant women and to lessen the risk of heart disease in adults.

Plant oils such as walnuts, flax seeds, leafy vegetables, soy, hemp oil, and clary sage seeds are prominent sources of Alpha-Linolenic (ALA). ALA lessens the blood clots and encourages seamless blood pumping mechanisms by reducing the plaque in arteries serving the heart. The growing adoption of ALA is anticipated to push the growth of the segment.

Geographic Overview

North America emerged as a dominant region in the omega 3 markets. The robust growth of the market in North America is credited to growing consciousness about the positive health effects of PUFA. The growing pervasiveness of health conditions related to lifestyles, the increasing number of an aging population, frantic lifestyle, and stress factors will generate massive demand for dietary supplements and functional food in the region.

The growing trend of veganism and vegetarianism will expedite an enormous demand for omega 3 sourced from plants. The recent evolution in restrictions by the US FDA that permit certified health claims substantiating these products can lessen the risk of cardiovascular conditions is anticipated to boost demand in the region.

The Asia Pacific mirrors immense possibilities for the industry and is anticipated to observe growth rates higher than the global average. The market's growth is attributed to the growing consciousness of health benefits and growing optional incomes that sanction consumers to spend on healthcare products and advance wellbeing.

The demand for dietary supplements is rising speedily due to highly populated countries in this region, such as India and China. The growing popularity of functional food and beverages contributes to the growth of omega 3 fatty acids fortified foods.

Competitive Insight

The leading players in the Omega-3 market include Aker Biomarine Antarctic AS, BASF SE, BioProcess Algae, LLC, Croda International Plc, EPAX, GC Reiber Oils, Koninklijke DSM N.V., Lonza, Omega Protein Corp., Orkla Health amongst others.

In November 2020, Croda International made a partnership with Anomera, an innovative green chemistry Canadian company based in Quebec, focused on developing high-quality Carboxylated Cellulose Nanocrystals which are converted into a micron-sized powder.

Omega 3 Market Report Scope

Report Attributes

Details

The market size value in 2021

USD 2.19 Billion

The revenue forecast in 2030

USD 4.30 Billion

CAGR

8.0% from 2022 - 2030

Base year

2021

Historical data

2018 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD Billion and CAGR from 2022 to 2030

Segments covered

By Type, By Source, By Application, and By Region

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Key companies

Aker Biomarine Antarctic AS, BASF SE, BioProcess Algae, LLC, Croda International Plc, EPAX, GC Reiber Oils, Koninklijke DSM N.V., Lonza, Omega Protein Corp., Orkla Health

 

 

 

Key Take-Away
Polaris Market Research
Omega 3 Market Market Size Report, 2022 - 2030