Omega-3 Market is valued at USD 2.49 Billion in 2022 and expected to reach USD 4.25 Billion by 2029 with a CAGR of 7.91% over the forecast period.
Global Omega-3 Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2023-2029- Increasing prevalence of chronic diseases due to changing life style of population and growing awareness regarding health are some of the major factors driving the growth of Global Omega-3 Market.
Omega-3 fatty acids are essential nutrients that are crucial for good health. They are found in fatty fish, such as salmon and tuna, as well as in supplements like fish oil capsules. The omega-3 market has experienced significant growth in recent years due to the growing awareness of the health benefits associated with these fatty acids. The health benefits associated with omega-3 fatty acids are numerous and include improved heart health, reduced inflammation, and better brain function. As consumers become more aware of these benefits, demand for omega-3 products is expected to continue to grow. In addition, the rise in veganism and plant-based diets has led to an increase in demand for omega-3 supplements derived from algae.
Due to the Covid-19 pandemic, most of the countries have gone under lockdown, and increasing problems due to the outbreak of Covid-19 have affected many industries. Covid-19 has affected many countries’ economies and pledge due to lockdowns, travel bans, and business shutdowns. The global food & beverages sector is one of the major businesses undergoes in severe impacts. This has highly overblown the worldwide omega-3 market as well.
The Global Omega 3 market is segmented on the basis of type, application, sources and region & country level. On the basis of type, the global Omega-3 market is classified as eicosapentaenoic acid (EPA), docosahexaenoic acid (DHA), alpha-linolenic acid (ALA). Based on application, the market is segmented as infant formula, dietary supplements, pharmaceuticals, pet food and feed, functional food and beverages, and others. Based on source, the global Omega-3 market is segmented as plant source and marine source, further plant source is sub-divided into soy, vegetable oils, nuts and seeds, and the marine is sub-classified into algal oil, krill oil, fish oil and others.
The regions covered in Omega-3 market report are North America, Europe, Asia-Pacific, Latin America and Rest of the World. On the basis of country level, the market of Global Omega-3 is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, India, Japan, South East Asia, Middle East Asia (Saudi Arabia, UAE, Egypt) GCC, Africa, etc.
Global Omega-3 Market report covers the prominent players like -
increasing demand for Omega-3 is increasing awareness regarding healthier life style among consumers is one of the major factors driving the market growth globally. As people become more health-conscious, they are seeking out foods and supplements that are rich in omega-3s. This has led to a growing demand for omega-3 supplements, such as fish oil capsules, which are one of the most popular sources of omega-3s. The popularity of omega-3 supplements has also led to the development of new products, such as vegetarian omega-3 supplements that are made from algae.
Changing lifestyle of consumers and growing concern regarding health issue spatially for coronary heart diseases and development disorders are also expected to foster the growth of global Omega-3 market. Omega-3 fatty acid contain plethora of health attributes which fuels the growth of omega-3 market. Additionally, the increasing disposable income of the customers in emerging economies of world, like Asia Pacific, Middle East, and Africa, and South America, leads to increase the market growth. Customers are highly spending on dietary supplements and healthy foods due to the improving lifestyles of people and rising disposable income. There are many dominant players and suppliers which are involved in producing and in supply chain of omega-3 concentrates and are evolving various strategies to spread the awareness regarding the health benefits associated with omega-3 enriched diets, which have widely and positively impacted the sales of omega-3 concentrates in these regions.
However, high cost of Omega-3 and government’s stringent regulation to import and export barriers are expected to hamper the growth of global Omega-3 market growth. Additionally, the complicated process of producing the high quality and pure product may also restrain the omega-3 market growth. The increasing personalized nutrition began the new trend among millennial is able to offer the opportunity of growth of Omega-3 market in coming year.
North America is expected to dominate the global Omega-3 market within the forecast period owing to the several key driving factors that are contributing to the growth of this market. One major factor is the growing awareness of the health benefits associated with omega-3 fatty acids. Consumers in North America are becoming increasingly health-conscious and are seeking out products that can help them maintain good health. Omega-3 fatty acids are known to have a range of health benefits, including improved heart health, reduced inflammation, and better brain function. In addition, the aging population in North America is also driving demand for omega-3 supplements, as these products are seen as a way to support healthy aging and reduce the risk of age-related diseases such as Alzheimer's. For example; the number of Americans ages 65 and older will more than double over the next 40 years, reaching 80 million in 2040.
Europe is expected to show a significant growth in the global Omega-3 market within the forecast period. The European omega-3 market is also being driven by regulatory factors. The European Union has imposed strict regulations on the use of omega-3 supplements, which has helped to increase consumer confidence in these products. In addition, the European omega-3 market is being driven by the increasing use of omega-3 fatty acids in functional foods and beverages. Many food and beverage manufacturers are adding omega-3s to their products in order to capitalize on the growing demand for these nutrients.
Asia Pacific is expected to show a fastest growth in the global Omega-3 market owing to the increasing awareness of customers regarding benefits of omega-3 in this region. Another factor driving the growth of the Asia Pacific omega-3 market is the increasing availability of omega-3 supplements. These supplements are becoming more widely available in pharmacies, health food stores, and online, making them easily accessible to consumers.
- Evonik and DSM Collaborated to Produce Omega-3 Oils from Marine Algae:
On December 13th, 2021; DSM has expertise cultivating marine organisms and biotechnology capabilities in development and operations, while Evonik’s focus has been on industrial amino acid biotechnology using large-volume fermentation processes. Their breakthrough combines a special strain of algae in EPA and DHA omega-3—two fatty acids that have proven to be essential for good health in fish and people. The company’s goal was to create the world’s first high-volume facility to manufacture omega-3 oils from marine algae for farm-raised salmon.
- Devenish and Mara Collaborated to Launch Humanativ to Boost Intake of Omega-3 in Global Population
On June 22nd, 2021; The Northern Ireland animal nutrition company, Devenish and Canadian company Mara Renewable Corporation, launched Humanativ, a joint venture which aimed at boosting the intake of omega-3 in the diet of the global population. The Mara has patented technologies to produce the product and Devenish has extensive experience in animal nutrition and enrichment, strengthened by human health studies which enabled Humanativ and its customers to make on-pack health claims.
- AlaskOmega Launched Omega-3 Concentrate Powder
On February 27th, 2020; Wiley Companies (formerly Organic Technologies), producer of AlaskOmega omega-3 fish oil concentrates and natural fish oils, launched an MSC-certified omega-3 concentrate powder for use in food, beverage and dietary supplement formulations. The first powder launched by the company, AlaskOmega Omega-3 Powder 3221, offers a minimum 200 mg/g EPA + DHA content without a fishy taste or smell, based on the superior freshness and purity of AlaskOmega omega-3 concentrates. The company expects to add to their omega-3 powder offering with a high DHA version later in the year.
|2016 - 2021
|2022 - 2029
|Market Size in 2022:
|USD 2.49 Billion
|Base year considered
|Forecast Period CAGR %:
|Market Size Expected in 2029:
|USD 4.25 Billion
|Tables, Charts & Figures:
|Omega 3 Manufacturers
|Omega Protein Corporation, Aker BioMarine, Arch Pharmalabs, BASF SE, GC Reiber Oils, Axellus, Lonza, DSM, and others.
|By Type, By Applications, By Sources
|North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa
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