The global Omega 3 market size is expected to be worth around US$ 5.82 billion by 2030, according to a new report by Vision Research Reports.
The global Omega 3 market size was valued at US$ 3.10 billion in 2020 and is anticipated to grow at a CAGR of 8.8% during forecast period 2021 to 2030.
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Omega 3 Market (By Type: Docosahexaenoic acid (DHA), Eicosapentaenoic acid (EPA), Alpha-linolenic acid (ALA); By Source: Marine Source, Plant Source; By Application: Supplements & Functional Foods, Pharmaceuticals, Infant Formula, Animal Feed & Pet Food) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030
Report Coverage
| Report Scope | Details |
| Market Size | US$ 5.82 Billion by 2030 |
| Growth Rate | CAGR of 8.8% From 2021 to 2030 |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Type, Source, Application |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Mentioned | Aker Biomarine Antarctic AS;Orkla Health; BASF SE; Omega Protein Corp.; GC Reiber Oils; Lonza;Croda International Plc; EPAX;BioProcess Algae, LLC;Koninklijke DSM N.V. |
Growth Factors
DHA and EPA can help improve brain health in children and heart health in adults, which is likely to boost the market growth. The rising scope of applications of omega 3 in pharmaceuticals is also supporting product consumption. Players are focusing on offering high-quality pharma-grade omega 3.
An increasing number of omega 3-based pharmaceutical product launches by market players, due to the rising product application scope in medicines, is expected to augment market growth. The rising inclusion of omega 3 ingredients in the diet to support heart and brain health is expected to boost product demand. A sedentary lifestyle, work-from-home trend, and lack of physical activity, particularly between the age group of 30 and 40 years are expected to result in rising product demand.
By Type Analysis
Docosahexaenoic Acid (DHA) dominated the market with a revenue share of more than 62% in 2020. DHA aids in reducing bad cholesterol and improving health conditions in individuals facing blood pressure-related concerns. The rising prevalence of coronary heart diseases globally is expected to fuel demand for DHA omega 3.
Eicosapentaenoic Acid (EPA) is expected to be the fastest-growing segment owing to its growing demand for immunity-boosting dietary supplements. EPA exhibits anti-inflammatory properties and thus improves the body’s immune response.
Plant oils, such as flaxseed, walnuts, soy, leafy vegetables, clary sage seed, and hemp oils, are major sources of Alpha-Linolenic (ALA). ALA reduces clots in the blood and promotes a smooth blood pumping mechanism by reducing the plaque in arteries serving the heart
By Source Analysis
The marine source segment held the largest revenue share of over 82.8% in 2020. Fish oil is the major marine source, which is mainly derived from anchovy fish. Prices of omega 3 are dependent on the extraction and processing cost of fish oil and vary accordingly depending on the availability of anchovy fish.
Omega 3 is also derived from plant sources including pumpkin seeds, flaxseed oil, walnuts, soybean oil, and canola oil. The cold pressing method is used for manufacturing omega 3 oil from plant sources.
By Application Analysis
The supplement and functional foods segment dominated the market with a revenue share of 52.1% in 2020. The rising popularity of DHA supplements among pregnant ladies as well as lactating mothers is projected to propel the product demand over the next few years.
Pharmaceuticals are among the significantly growing application segments in the market. Omega 3 is used for improving the health of heart patients as well as in the dermatology sector owing to its scalp nourishment properties.
The infant formula segment is expected to grow at the fastest CAGR over the forecast period, supported by the rising consumption of packaged baby nutrition products owing to an increasing working population.
The inability of animals to naturally produce some of the essential fatty acids has led to an increase in the demand for omega 3 fatty acids in animal feed. Rising demand for pet food on account of increasing pet ownership and pet humanization is likely to support the growth of the segment.
By Regional Analysis
North America was the largest regional market with a revenue share of 37.3%. Various market players in the region, such as Omega Protein Corp., Martek Biosciences Corp., and BioProcess Algae, are focusing on R&D activities to develop pharma-grade omega 3, which is fueling the regional market growth.
Asia Pacific is likely to register the fastest CAGR over the forecast period. Rising awareness about following a healthy diet and overall well-being, coupled with increasing disposable income, is expected to boost the product demand in the region.
Key Players
- Aker Biomarine Antarctic AS
- Orkla Health
- BASF SE
- Omega Protein Corp.
- GC Reiber Oils
- Lonza
- Croda International Plc
- EPAX
- BioProcess Algae, LLC
- Koninklijke DSM N.V.
Market Segmentation
- By Type
- Docosahexaenoic acid (DHA)
- Eicosapentaenoic acid (EPA)
- Alpha-linolenic acid (ALA)
- By Source
- Marine Source
- Plant Source
- by Application
- Supplements & Functional Foods
- Pharmaceuticals
- Infant Formula
- Animal Feed & Pet Food
- Others
- Regional
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- The Netherlands
- Norway
- Asia Pacific
- China
- Japan
- India
- Australia
- New Zealand
- Central & South America (CSA)
- Brazil
- Argentina
- Middle East & Africa (MEA)
- UAE
- North America
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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