The omega-3 market was estimated at USD 4.52 billion in the year 2020, and is expected to reach USD 10.73 billion by 2027. The market is growing with a CAGR of 13.1%, in the forecast period (2017-2027). Rising consumer awareness regarding the health benefits of omega-3 fatty acids which include maintaining heart health, in addition to safeguarding against cancer and birth defects and offsetting symptoms of diabetes, arthritis, cognitive decline, depression, and several other conditions has significantly contributed to the growth of this market.
The research report categorizes the Omega-3 Market to forecasts the revenues and analyses the trends in each of the following below-mentioned market segments.
Docosahexaenoic acid (DHA)
Eicosapentaenoic acid (EPA)
Alpha-linolenic acid (ALA)
The report also provides in-depth value chain analysis, opportunity mapping, technology landscape, regulatory scenario, patent trends, market trends, Covid-19 impact analysis, raw material supply analysis, pricing trends, sustainability trends and competitive landscape.
Drivers: Growing demand from Pharmaceutical Industry and Pet / Animal Nutrition products
Omega-3 is growing on account of growing product usage in the Active Pharmaceutical Ingredient (API), rising awareness regarding chronic diseases, and regulations favoring the usage of omega-3 in infant formulations. Increasing usage of omega-3 in pet nutrition and animal feed products is further expected to propel the market growth in the coming years.
Restraints: Lack of clarity among consumers
The market for omega-3 is facing hindrance in growth on account of the absence of official recommended doses which has created confusion in the minds of consumers. This is having a higher impact in developing countries where consumer awareness is low and healthcare infrastructure is not fully established.
Opportunity: Research for the development of alternative sources to obtain omega-3
In order to meet the increasing demand for EPA & DHA, and increasing fish oil prices there are vast opportunities for extracting omega-3 from new sources such as microalgae and krill oil rich in phospholipid form of omega-3. There are also new opportunities for Highly Concentrated Omega-3 Ingredients on account of demand from Pharma and Dietary Supplements Markets. Spray drying and encapsulation of omega-3 oils is providing new opportunities for product development.
Challenges: Fluctuating Fish Oil Prices
The omega-3 market is being impacted by the fluctuating prices of raw materials such as fish and marine oils.
In terms of application, the supplements & functional food segment in the omega-3 market is estimated to be the largest segment during the forecast period.
In terms of application, the global omega-3 market can be segregated into supplements & functional foods, pharmaceuticals, instant formulas, pet & animal feed, infant nutrition, and others. The supplements & functional food in the omega-3 market is projected to be the largest, while infant formula is projected to be the fastest-growing segment by 2025. The supplements & functional food segment is growing on account of increasing usage in applications such as cereals, bakery products, and juices. Growing consumer adoption of such products to maintain fitness and nutrient adequacy among adults has also contributed towards a growing market.
The growing trend of cardiovascular diseases on account of a sedentary lifestyle, especially among the age group of 30 to 40 years, and fluctuating dietary patterns are likely to maintain the importance of omega-3-based nutraceutical products in the market over the next few years.
The sports nutrition industry is also driving demand in the omega-3 market on account of growing awareness regarding the importance of Omega-3 in maintaining weight and reducing calories. Sports personnel and gym professionals and athletes in several countries, including China, Italy, India, and the U.S., are using omega-3 based sports supplements and functional food products. The new advertising campaigns by companies, such as Koninklijke DSM N.V. and BASF SE, have also had a favourable impact on the growth of this segment.
The pharmaceutical industry is increasingly adopting omega-3 ingredients on account of its health benefits. Omega-3 is used in pharmaceutical products for its anti-inflammatory properties as well as for the treatment of depression, cancer, Alzheimer’s, osteoporosis, and cardiovascular diseases. The usage of omega-3 in weight loss and obesity control medications is further anticipated to drive the segment. To capitalize on this trend, key pharmaceutical companies are actively involved in obtaining product certifications to maximize their reach in the Omega-3 market.
By source, the marine segment is expected to be the largest and fastest-growing
On the basis of source, the omega-3 industry is bifurcated into two categories, namely marine sources, and plant sources. The marine segment of the Omega-3 market is projected to be the largest and fastest-growing segment by 2025. EPA and DHA commonly found in marine oils, whereas plant oils are the major source of alpha-linolenic acid (ALA).
The major marine source for omega-3 fatty acids are fish oil. According to the Global Organization for EPA and DHA Omega-3s (GOED), anchovies and sardines rich in omega-3 fatty acids and led the market with a share of 80%, followed by tuna and cod, accounting for a share of 10%. As the global supply of fish oil in the omega-3 fish oil market remains static or is slowly declining, there are new opportunities of producing omega- 3 from alternative sources.
By type, the docosahexaenoic acid (DHA) segment is expected to register the highest CAGR during the forecast period
Three types of omega-3 fatty acids include docosahexaenoic acid (DHA), eicosapentaenoic acid (EPA), and alpha-linolenic acid (ALA). The docosahexaenoic acid (DHA) segment of the omega-3 market is projected to grow at a much higher pace as compared to other segments due to the increasing demand for infant formula. DHA is also vital for people in all age groups as it supports learning and memory retention and helps in the development of eye and nerve tissues.
Asia-Pacific is expected to register the highest CAGR while North America is expected to be the biggest market in the forecast period
On account of increasing utilization in the pharmaceutical industry, coupled with growing research & development activities North America emerged as the largest Omega-3 market in 2019. Moreover, the growing trend of improved medication for improving the quality of life and life expectancy of the aging population is expected to further propel the demand for omega 3-based pharmaceutical products in the region.
The Asia-Pacific region is projected to be the fastest-growing market due to advancements in food technology and the high demand for fortified food products. The growing cultivation of krill fish in the South China Sea and the Indian Ocean is also expected to propel the regional market growth over the next few years.
Company Profiles and Competitive Intelligence in Omega-3 Market Research Report are:
The key players operating in the market are Cargill, BASF SE ,, Orkla Health, Croda International ,Lonza, KD Pharma, Corbion, GC Rieber, Epax , Pharma Marine AS, Aker Biomarine Antarctic AS, BioProcess Algae, LLC, Koninklijke DSM N.V.amongst others
Priyanka has been writing chemicals & material market research reports for the last 12 years. A post-graduate, her specialization is in the chemicals sector. Preparing end-to-end reports covering minute details for market insights, competitive intelligence and trend analysis in the CMFE sector.
Research Methodology
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