Growing consumer health knowledge regarding the benefits of omega-3 fatty acid consumption, such as DHA and EPA, is one of the key reasons driving market expansion. Numerous research projects are now underway, which are expected to provide several businesses with a competitive advantage in developing new and creative omega-3 components for pharmaceuticals. With a 52% sales share, the supplements & functional foods market is benefiting from rising lifestyle and age-related disorders in North America and Europe. Omega-3 pharmaceutical components are effective in treating a variety of lifestyle and age-related disorders.
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The expected CAGR of Omega-3 Ingredients for Pharmaceuticals Market is tend to be around 11.5% in the mentioned forecast period. The market is valued at USD 733.5 million in 2022, and it would grow up to USD 1,752.4 million by 2030. Product demand is predicted to rise as consumers invest more in their health and well-being. As consumers seek alternatives to traditional fish oil, the market's product offers are constantly diversifying. Given its better characteristics to traditional fish oil, krill oil is one of the most extensively used sources of omega-3. Given its disagreeable taste, acid reflux, and large-sized pills, the majority of consumers in North America and Europe prefer krill oil over any other type of fish oil. During the forecast period, such factors are expected to drive product demand.
Rising growth in concentrated form of algal omega-3 ingredients is expected to drive the market's growth rate
Consumers willing to pay a larger premium for high-end products will get multiple benefits from new ultra-high concentrated omega-3 components. Suppliers are investing in the production of highly concentrated algal omega-3 products, anticipating growing demand. The market for concentrates is also expanding as more people become aware of the benefits of algal omega-3 and seek out greater doses. Given the current potential in the industry under consideration, prominent omega-3 manufacturing businesses have begun to strategically capitalize on the existing business expansion opportunity.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015- 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Source (Marine and Plant), Type (Docosahexaenoic Acid (DHA), Eicosapentaenoic Acid (EPA), Alpha-Linolenic Acid (ALA)), Forms (Liquid and Dry), Therapeutic Areas (Cardiovascular Diseases, Autoimmune Diseases, Bone & Joint Disorders, Neurological Disorders, Ophthalmic Disorders, Skin Health, Cancer, Others), Population Type (Adults and Children), Distribution Channel (Direct, Indirect)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Avestia Pharma (India), Novasep (France), AbbVie Inc. (U.S.), KD Pharma Group (Japan), BASF SE (U.S.), Corbion (Netherlands), DSM (Netherlands), AstraZeneca (U.K.), GlaxoSmithKline plc. (U.K.), Fresenius Kabi AG (Germany), Croda International Plc (U.S.), AMARIN CORPORATION (Ireland), ANI Pharmaceuticals, Inc. (U.S.), Epax (Norway), Strides Pharma Science Limited (India), Pharma Marine AS (Norway), KinOmega Biopharm Inc. (China), Camber Pharmaceuticals, Inc. (U.S.)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand
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Segment Analysis:
Global omega-3 ingredients for pharmaceuticals market is categorized into six notable segments which are based on the basis of source, type, forms, therapeutic areas, population type and distribution channel.
- On the basis of source, the omega-3 ingredients for pharmaceuticals market is segmented into marine and plant.
In 2022, marine segment dominated the omega-3 ingredients for pharmaceuticals market
Marine segment dominated the omega-3 ingredients for pharmaceuticals market due to presence of higher proportion of good content omega-3 components in marine fish.
- On the basis of type, the omega-3 ingredients for pharmaceuticals market are segmented into docosahexaenoic acid (DHA), eicosapentaenoic acid (EPA), alpha-linolenic acid (ALA). In 2022, docosahexaenoic acid (DHA) segment dominated the omega-3 ingredients for pharmaceuticals market due to the critical role in brain expansion, and regulation of heart disease.
- On the basis of forms, the omega-3 ingredients for pharmaceuticals market are segmented into dry and liquid.
In 2022, the liquid segment dominated the omega-3 ingredients for pharmaceuticals market
The liquid segment dominated the omega-3 ingredients for pharmaceuticals market as most of the Omega-3 ingredients are obtained in liquid form. Furthermore, liquid form is preferred over other forms for a variety of end user applications in the pharmaceutical industry.
- On the basis of therapeutic areas, the omega-3 ingredients for pharmaceuticals market are segmented into ophthalmic disorders, neurological disorders, cardiovascular diseases, autoimmune diseases, cancer, bone & joint disorders, skin health and others. In 2022, cardiovascular diseases segment dominated the omega-3 ingredients for pharmaceuticals market because of the applications of omega-3 fatty acids in lowering triglycerides, slightly lowering blood pressure, lowering the risk of strokes, lowering blood clotting, and lowering irregular heartbeats.
- On the basis of population type, the omega-3 ingredients for pharmaceuticals market are segmented into children and adults. In 2022, adults segment dominated the omega-3 ingredients for pharmaceuticals market because the major application of Omega-3 ingredients in pharmaceutical applications is cardiovascular diseases. These diseases are predominantly prevalent in adults as compared to children.
- On the basis of distribution channel, the omega-3 ingredients for pharmaceuticals market are segmented into direct and indirect. In 2022, direct segment dominated the omega-3 ingredients for pharmaceuticals market as it is the primary source of procurement by pharmaceutical companies.
Major Players
Data Bridge Market Research recognizes the following companies as the major market players: Avestia Pharma (India), Novasep (France), AbbVie Inc. (U.S.), KD Pharma Group (Japan), BASF SE (U.S.), Corbion (Netherlands), DSM (Netherlands), AstraZeneca (U.K.), GlaxoSmithKline plc. (U.K.), Fresenius Kabi AG (Germany), Croda International Plc (U.S.), AMARIN CORPORATION (Ireland), ANI Pharmaceuticals, Inc. (U.S.), Epax (Norway), Strides Pharma Science Limited (India), Pharma Marine AS (Norway), KinOmega Biopharm Inc. (China), Camber Pharmaceuticals, Inc. (U.S.).
Market Development
- In 2020, DSM launched a plant-based DHA oil product, DHA SF55-O200DS oil produced from schizochytrium algae, in May. This supplement is intended to boost mother and baby nutrition. DSM's new product launch boosted its product portfolio in the nutrition business, increasing market demand and resulting in future revenue growth.
- In 2020, ANI Pharmaceuticals, Inc. introduced an omega-3-Acid Ethyl Esters Capsules USP in April to lower triglyceride (TG) levels in adult patients with severe hypertriglyceridemia (more than or equal to 500mg per dL) (HGT). Expanding its product variety and acquiring new consumers have helped the company.
Regional Analysis
Geographically, the countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
Asia-Pacific is the dominant region in the mobile phone accessories market during the forecast period 2023 to 2030
Given the increased consumer demand for plant-based omega-3 products, Asia-Pacific dominates the market. The expanding importance of omega 3 DHA for newborn nervous system, vision, and brain development, combined with the product's capacity to support long-term health, is likely to fuel market expansion in the future years.
North America is estimated to be the fastest growing region in the mobile phone accessories market in the forecast period 2023 to 2030
Given the increasing use of pharmaceutical products containing omega-3 ingredients for the prevention of cardiovascular disease, North America has seen a significant growth in the omega-3 ingredients for pharmaceuticals market over the anticipated period. The growing demand for nutritious food in North America due to increased foodborne infections and an expanding food industry is expected to fuel the growth of this global market during the forecast period.
For more detailed information about the mobile phone accessories market report, click here – https://www.databridgemarketresearch.com/reports/global-omega-3-ingredients-for-pharmaceuticals-market
