The Global Omega 3 Market size is expected to reach $3 billion by 2027, rising at a market growth of 7.0% CAGR during the forecast period.
Omega-3 fatty acids have a wide range of health benefits, which has fueled demand for omega-3 supplements. The baby food products are the prominent user of omega-3. Omega-3 products are in high demand due to the desire for simple and highly efficient ultra-high concentrates. The omega-3 market is being driven by rising end-user demand and growing consumer knowledge about healthy eating and the health advantages of omega-3.
The sector is made up of two categories: w-3 fatty acids and n-3 fatty acids, both of which contribute considerably to the omega 3 fatty acids. Rising rates of Cardiovascular Diseases (CVDs) and changing dietary habits are two major causes behind the rising demand for such products. The increased importance of immunity development in the recovery phase of the COVID-19 pandemic has fuelled the growth of the market.
Product demand is predicted to rise as more omega 3 elements are included in the diet to support heart and brain health. Sedentary lifestyles, the work-from-home tendency, and a lack of physical activity, especially among people in their 30s and 40s, are predicted to drive product demand. Furthermore, rising consumer investment in healthcare and well-being is expected to propel the market forward.
The COVID-19 has also created opportunities for health-related product firms, particularly dietary supplement manufacturers. The increase in consumer view of these medications as useful in maintaining immunity and their effectiveness in battling the fatal virus has prompted the respective market. As a result, demand for related markets, such as omega-3 goods, would increase in the coming years due to the pandemic.
There are several studies conducted to determine whether omega-3 supplements have beneficial effects on the putative disruption of COVID-19 in the human body. According to new research conducted by University of So Paulo affiliates, Omega-3 fatty acids, notably eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA), have an anti-inflammatory effect that may reduce the requirement for ICU stays in some patients.
The growing awareness of PUFAs' beneficial health effects has resulted in a surge in demand. PUFA consumption appears to benefit cardiovascular health and a variety of other bodily processes, according to several recent clinical investigations. The demand for long-chain PUFAs is increasing as people become more aware of the necessity of vital fatty acids. Omega-3 fatty acids have grown in prominence in recent years, owing to the fact that they cannot be generated by the body and must be obtained externally through omega-3-rich meals or dietary supplements.
Because of the rising prevalence of health disorders caused by sedentary lifestyles, stress, age, and other hereditary factors, consumer tendency to include nutritional supplements in everyday lives has increased in recent years. As a result of this trend, researchers are looking at different compounds that can help preserve general health and wellness by positively affecting key physiological functions. To capitalize on this increasing trend, some producers are exploring novel functional substances and creating innovative means for their delivery.
Omega-3 supplements usually have little side effects. They include poor breath, sweat that stinks, headaches, nausea, diarrhea, and gastrointestinal problems like heartburn. Long-chain omega-3 levels in the blood have been associated to an increased risk of prostate cancer in several big studies. In addition, there are many other side effects like nausea and loose stool observed in the people who consume Omega-3 products.
On the basis of type, the omega-3 market is segmented into Docosahexaenoic acid (DHA), Eicosapentaenoic acid (EPA) and Alpha-linolenic acid (ALA). Eicosapentaenoic acid (EPA) segment garnered a significant revenue share in the omega-3 market in 2020. It is due to the increased demand for immunity-boosting dietary supplements. EPA has anti-inflammatory qualities, which boosts the immunological response of the body. A daily dose of EPA has been recommended by the European Food Safety Authority (EFSA) for the development of newborn brains and nervous systems in pregnant women, as well as lowering the risk of heart disease in adults.
By application, the omega-3 market is fragmented into Supplements & Functional Foods, Pharmaceuticals, Infant Formula, Animal Feed & Pet Food and others. The pharmaceuticals segment procured a significant revenue share in the omega-3 market in 2020. Pharmaceuticals are one of the market's fastest-growing application segments. Because of its scalp nourishing characteristics, Omega 3 is widely used in dermatology. Omega 3 consumption helps to maintain the skin's collagen levels, which in turn serves to strengthen the skin structure, decreasing the appearance of fine lines and wrinkles.
Based on source, the omega-3 market is divided into Marine Source and Plant Source. In 2020, the marine source segment dominated the omega-3 market with the highest revenue share. Fish oil, which is primarily obtained from anchovy fish, is the most common marine source. Omega 3 prices are determined by the cost of extraction and processing of fish oil and vary according to the availability of anchovy fish.
| Report Attribute | Details |
|---|---|
| Market size value in 2020 | USD 1.9 Billion |
| Market size forecast in 2027 | USD 3 Billion |
| Base Year | 2020 |
| Historical Period | 2017 to 2019 |
| Forecast Period | 2021 to 2027 |
| Revenue Growth Rate | CAGR of 7% from 2021 to 2027 |
| Number of Pages | 211 |
| Number of Tables | 364 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Type, Application, Source, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region-wise, the omega-3 market is analyzed across North America, Europe, Asia Pacific and LAMEA. North America emerged as the leading region in the omega-3 market with the largest revenue share in 2020. Several regional market players, including Omega Protein Corp., Martek Biosciences Corp., and BioProcess Algae, are focused on R&D activities to create pharma-grade omega 3, which is boosting the regional market growth.
Free Valuable Insights: Global Omega 3 Market size to reach USD 3 Billion by 2027
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Lonza Group AG is the major forerunner in the Omega 3 Market. Companies such as Croda International PLC, Orkla ASA, Koninklijke DSM N.V. are some of the key innovators in the Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Aker BioMarine AS, GC Rieber VivoMega AS (GC Rieber group), Epax Norway AS (Pelagia Holding AS), FMC Corporation, BASF SE, Koninklijke DSM N.V., Lonza Group AG, Orkla ASA (Orkla Health), Croda International PLC, and Omega Protein Corporation (Cooke, Inc.).
By Type
By Application
By Source
By Geography
The omega 3 market size is projected to reach USD 3 billion by 2027.
Growing consumption of supplements in daily routine are driving the market in coming years, however, side effects of omega-3 limited the growth of the market.
Aker BioMarine AS, GC Rieber VivoMega AS (GC Rieber group), Epax Norway AS (Pelagia Holding AS), FMC Corporation, BASF SE, Koninklijke DSM N.V., Lonza Group AG, Orkla ASA (Orkla Health), Croda International PLC, and Omega Protein Corporation (Cooke, Inc.).
Due to the pandemic demand for related markets, such as omega-3 goods, would increase in the coming years. As more people are started to consume nutrients to boost their immune system.
The Docosahexaenoic acid (DHA) market acquired maximum revenue share in the Global Omega 3 Market by Type 2020, thereby, achieving a market value of $1.6 billion by 2027.
The North America market is the fastest growing region in the Global Omega 3 Market by Region 2020, and would continue to be a dominant market till 2027.
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