According to a new report Global Omega 3 Market, published by KBV research, 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.
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. DHA aids in the reduction of bad cholesterol and the improvement of health in people who have high blood pressure. The rising prevalence of coronary heart diseases globally is expected to fuel demand for DHA omega 3 during the forecast period.
The Supplements & Functional Foods market is generating high revenue in the Global Omega 3 Market by Application 2020, thereby, achieving a market value of $1.4 billion by 2027. The increased popularity of DHA supplements among pregnant and breastfeeding moms is expected to drive demand for the product in the coming years. The usage of omega 3 in sports supplements and functional foods would surge the market as gym professionals and athletes become more cognizant of nutritional food intake.
The Plant Source market is expected to witness highest CAGR of 10% during (2021 - 2027). Plant sources of omega 3 include pumpkin seeds, flaxseed oil, walnuts, soybean oil, and canola oil, among others. Omega 3 oil is produced from plant sources using the cold pressing method. Plant sources are being looked at as potential alternatives to fish oil. For example, in October 2018, Cargill introduced 'Latitude,' a plant-based, sustainable Omega 3 alternative for fish feed.
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; thereby, achieving a market value of $1.1 billion by 2027. The Europe market is expected to witness a CAGR of 6.6% during (2021 - 2027). Additionally, The Asia Pacific market is expected to witness a CAGR of 7.1% during (2021 - 2027).
Full Report: https://www.kbvresearch.com/omega-3-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.).
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