OMEGA 3 MARKET

Omega 3 Market size reached USD 2.8 billion in 2023 and is estimated to reach USD 5.2 billion in 2031 and the market is estimated to grow at a very high CAGR of 8.1% from 2024-2031.

Major Omega 3 Market Drivers

The significant growth in the Omega-3 Market is attributed to increasing incidences of cardiovascular diseases, heart-problems, and obesity along with the changing dietary patterns. According to the World Health Organization (WHO), more than 14 million population between the age of 30 and 70 years die every year owing to the prevalence of chronic diseases. The growing use of Omega-3 in pet food and pharmaceuticals industry, owing to the growing awareness about the health benefits which include its therapeutic ability to boost immunity and prevent arthritis, inflammatory bowel disease, etc. has strengthened the Omega-3 market size. Thus, the leading market players are emphasizing on the product innovation for effective removal of environmental pollutants from fish oil to reduce oxidation in its production process, and concentrating the omega 3 content in the final product to ensure optimized delivery of the healthy parameters of fish oil. For instance, in November 2019, BASF Nutrition and Health along with Ideogen introduced an omega 3 product that addresses Non-Alcoholic Fatty Liver Disease (NAFLD). Moreover, the increasing usage of fish oil in various personal grooming products against various dermatological disorders, including wrinkles, dark circles, pigmentation, will expand the market growth. However, the high cost of the products and insufficient awareness among the population regarding the benefits of Omega-3 will impede the market growth.

 Type – Segment Analysis

Docosahexaenoic acid (DHA) is forecast to expand at a faster CAGR over the forecast period, owing to the rising incidences of coronary heart diseases. In addition, DHA helps in growth and functional development of the brain in infants, decreasing bad cholesterol and improving health conditions in individuals with high blood pressure-related and helps to improve the learning ability, driving the segment’s growth.

Application –  Insights

Supplement and functional foods segment is anticipated to lead the market over the upcoming years, owing to the growing demand for DHA supplements among pregnant ladies and lactating mothers. The inclination towards dietary supplements in daily diets, owing to the stress, sedentary lifestyles, and ageing is predicted to fuel the supplement and functional food segment size. Moreover, with the growing health awareness and increasing number of gym goers, the demand for omega 3 as a nutritional supplement has augmented, fuelling the segment’s growth.

Regional – Segment Analysis:

North America is predicted to hold the largest share over the upcoming years, owing to the rising incidences of lifestyle-related diseases, accelerating geriatric population, and the hectic lifestyle of consumers. As per the Food & Drug Administration (FDA), the consumption of omega 3 fatty acids in diet can reduce the risk of cardiovascular conditions. The strong presence of leading players in the region including Cargill, Omega Protein Corp, Epax Norway AS, BioProcess Algae are increasingly emphasizing on the development of innovative solutions to improve the absorption of these type of fatty acids in the body which will strengthen the regional growth.

Top Market Players

Various notable players operating in the market, include, Aker Biomarine, Orkla., Basf Se, Omega Protein Corporation, AG& VivoMega, Lonza., Croda International Plc, Epax, BioProcess Algae, LLC, DSM, among others.

Key Developments:

• • In 2021, Polaris introduced the Omegavie DHA 800 oil derived from the microalgae Schizochytrium sp. With high concentration of 800 mg/g of DHA, which will be used to produce vegan DHA tablets or capsules.
  • In 2021, Neptune Wellness Solutions Inc., a diversified and fully integrated health and wellness organization launched a latest Forest Remedies’ plant-based Multi Omega 3-6-9 gummies and soft gels with a major ingredient Ahiflower. This new product will fulfil the nutrient requirement of the human body.
  • In 2021, India-based start-up OZiva launched a new vegan Omega-3 multivitamins to fulfill the increasing demand for plant-based dietary supplements.
  • In June 2021, Polaris launched the Omegavie DHA 800 oil derived from the microalgae Schizochytrium sp. This oil will offer about a high concentration of 800 mg/g of DHA, which can be used to formulate vegan DHA tablets or capsules.
  • In March 2020, GC Reiber Oils entered into partnership with Barrington Nutritionals to distribute the omega 3 concentrates to the United States and Mexican marketplaces.

Segments covered in the Report:

The global Omega 3 Market has been segmented on the basis of Type, Source, Application and regions. Based on Type, the market is segmented into Eicosapentaenoic acid (EPA), Alpha-linolenic acid (ALA) and Docosahexaenoic acid (DHA). Based on Source, the market is segmented into Plant Source and Marine Source. Based on Application, the market is segmented into Pharmaceuticals, Animal Feed & Pet Food, Infant Formula, Supplements & Functional Foods and Others.

Market Segmentation

Global Omega 3 Market by Type

• • Eicosapentaenoic acid (EPA)
  • Alpha-linolenic acid (ALA)
  • Docosahexaenoic acid (DHA)

Global Omega 3 Market by Source

• • Plant Source
  • Marine Source

Global Omega 3 Market by Application

• • Pharmaceuticals
  • Animal Feed & Pet Food
  • Infant Formula
  • Supplements & Functional Foods
  • Others

Global Omega 3 Market by Region

• • North America Omega 3 Market (Option 1: As a part of the free 25% customization)

    • By Type
    • By Source
    • By Application
    • US Market All-Up
    • Canada Market All-Up

  • Europe Omega 3 Market (Option 2: As a part of the free 25% customization)

    • By Type
    • By Source
    • By Application
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Omega 3 Market (Option 3: As a part of the free 25% customization)

    • By Type
    • By Source
    • By Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Omega 3 Market (Option 4: As a part of the free 25% customization)

    • By Type
    • By Source
    • By Application
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Market Name (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Aker Biomarine
  • Orkla
  • Basf Se
  • Omega Protein Corporation
  • AG& VivoMega
  • Lonza.
  • Croda International Plc
  • Epax
  • BioProcess Algae, LLC
  • DSM