Asia-Pacific Omega-3 Ingredients for Pharmaceuticals Market, By 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) – Industry Trends and Forecast to 2030.
Asia-Pacific Omega-3 Ingredients for Pharmaceuticals Market Analysis and Size
The inclination in consumer preference towards a healthy diet consisting of omega-3 ingredients and the wide use of fish oil in Southeast Asia are anticipated to improve the sales of omega-3 in the Asia-Pacific region. Presently, numerous research studies are taking place which is anticipated to create a competitive advantage for several manufacturers to develop new and innovative omega-3 ingredients for pharmaceuticals. Increasing lifestyle and age-related diseases in Asia-Pacific is consequently improving the growth of the supplements & functional foods segment with a revenue share of 52%.
Data Bridge Market Research analyses a growth rate in the omega-3 ingredients for pharmaceuticals market in the forecast period 2023-2030. The expected CAGR of omega-3 ingredients for the pharmaceuticals market is around 12.5% in the mentioned forecast period. The market is valued at USD 115.5 million in 2022, and it would grow upto USD 296.35 million by 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Asia-Pacific Omega-3 Ingredients for Pharmaceuticals Market Scope and 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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China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC)
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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 (Germany), Corbion (Netherlands), DSM (Netherlands), AstraZeneca (U.K.), GSK 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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Market Opportunities
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Market Definition
Omega 3 ingredients are naturally occurring polyunsaturated fatty acids and nutrients that are essential for optimal human health. There are three kinds of omega 3 ingredients, namely, eicosapentaenoic acid (EPA), alpha-linoleic acid (ALA), and docosahexaenoic acid (DHA). EPA and DHA are mostly extracted from fish and ALA is mainly extracted from plants sources such as seeds and nuts.
Asia-Pacific Omega-3 Ingredients for Pharmaceuticals Market Dynamics
Drivers
- Increasing Demand of Infants Formula
This growing demand for infant nutrition is boosting the omega-3 market in Asia-Pacific region. China and India are the world’s largest consumers of infant formula products because of high birth rates in the countries. In 2015, China resulted for about one-third of the infant formula market, while infant formula is also the largest segment of baby food in India, where an annual average of childbirth is more than 25 million children. The growing demand for high-nutritional food for infants in the developed and developing economies of Asia, such as China and India led to the further increase in the consumption of omega-3 products which in turn is estimated to increase the growth in the region. Thus, this factor increases the growth of the market.
- Rising Technological Advancements
Technological advancements and product innovation is anticipated to boost the market for omega 3 ingredients during the forecast period. For instance, DSM introduced new 3C technology to reinvigorate omega 3 supplements category on October 6, 2016. Furthermore, on June 9, 2015, Croda introduced Incromega DHA and approved by European Food Safety Authority (EFSA). Additionally, Royal DSM collaborated with Evonik to manufacture omega 3 fatty acid products from natural marine algae for animal nutrition on March 8, 2017. This innovation will allow the production of omega 3 fatty acids for animal nutrition without using fish oil. This factor improves the market growth.
Opportunities
- Huge growth in concentrated forms of algal omega-3 ingredients
New ultra-high concentrated omega-3 ingredients offer several benefits to consumers willing to pay a higher premium price for high-end products. Several suppliers are investing in the production of high concentrated algal omega-3 products, estimating increased demand to drive the sales. The market for concentrates has also been increasing, as more consumers become aware of the benefits of algal omega-3 and seek the benefits of higher doses. Several major companies are involved in omega-3 manufacturing that has started to strategically capitalize the existing business expansion opportunity.
- Rising Demand of Omega-3 by Elderly Population
There is an increasing focus on healthy aging with good physical and mental function that is boosting the growth of the market. Countries, such as Japan, are experiencing a "super-aging" society in rural and urban areas. As per the 2014 estimates by Bloomberg, around 33.0% of the Japanese population was above the age of 60, 25.9% were aged 65 or above, and 12.5% were aged 75 or above. Increased blood levels of omega-3 fatty acids found in seafood are related with a higher likelihood of healthy aging among older adults. This is leading the manufacturers to develop the varieties of omega-3 ingredients in bulk. Thus, this factor helps to create much opportunities for the growth of the market.
Restraints/Challenges
- Side Effects of omega-3 ingredients
There are various side-effects associated with the omega-3 ingredients for pharmaceuticals. Effects such as burping, diarrhea, heartburn, joint pain, stomach pain or discomfort, vomiting, constipation, nausea. Thus, these adverse effects affect the growth rate by decreasing the adoption of omega-3. This impedes the market growth.
- Increasing Negative Consumer Perception About omega-3 ingredients
Negative consumer perception associated with the smell and taste of omega-3 ingredients is also anticipated to limit the growth of the market. These unstable fatty acids can damage through enzymatic or chemical oxidation to form compounds that give foods a fishy smell. Additionally, fresh fish oil has no fishy taste or smell, just like fresh fish. People feel hesitant to adopt for omega-3 ingredients. Thus, this hampers the market growth.
This omega-3 ingredients for pharmaceuticals market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the omega-3 ingredients for pharmaceuticals market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Development
- In 2021, Omega-3 related supplier GC Rieber VivoMega announced its plans to enhance production facilities and storage tanks to accommodate more ingredients in the upcoming years.
- In 2020, DSM launched a plant-based DHA oil product, DHA SF55-O200DS oil extracted from schizochytrium algae. This product is utilized for enhancing the nutrition in mothers and infants. This new product launch by DSM increased its product portfolio in nutrition business thus, increased demand for its product in the market causes increased revenue in future.
Asia-Pacific Omega-3 Ingredients for Pharmaceuticals Market Scope
The Omega-3 ingredients for pharmaceuticals market is segmented on the basis of source, type, forms, therapeutic areas, population type, and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Source
- Marine
- Plant
Type
- Docosahexaenoic Acid (DHA)
- Eicosapentaenoic Acid (EPA)
- Alpha-Linolenic Acid (ALA)
Forms
- Liquid
- Dry
Therapeutic Areas
- Cardiovascular Diseases
- Autoimmune Diseases
- Bone & Joint Disorders
- Neurological Disorders
- Ophthalmic Disorders
- Skin Health
- Cancer
- Others
Population Type
- Adults
- Children
Distribution Channel
- Direct
- Indirect
Omega-3 Ingredients for Pharmaceuticals Market Regional Analysis/Insights
The Omega-3 ingredients for pharmaceuticals market is analyzed and market size insights and trends are provided by source, type, forms, therapeutic areas, population type, and distribution channel as referenced above.
The major countries covered in the Omega-3 ingredients for pharmaceuticals market report are China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC).
China is leading the market because of the increase in consumer demand for plant-based omega-3 products. The growing significance of omega 3 DHA for the development of the infant nervous system, vision, and brain combined with the product’s ability to support long-term health is expected to drive market growth in the upcoming years.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Asia-Pacific Omega-3 Ingredients for Pharmaceuticals Market Share Analysis
The Omega-3 ingredients for pharmaceuticals market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Asia-Pacific presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to Omega-3 ingredients for pharmaceuticals market.
Key players operating in the Omega-3 ingredients for pharmaceuticals market include:
- Avestia Pharma (India)
- Novasep (France)
- AbbVie Inc. (U.S.)
- KD Pharma Group (Japan)
- BASF SE (Germany))
- Corbion (Netherlands)
- DSM (Netherlands)
- AstraZeneca (U.K.)
- GSK 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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