Global Omega-3 Market, By Type (ALA, EPA, DHA), Source (Fish Oil and Krill Oil, Algal Oil, Walnut, Pumpkin Seeds, Soybean Oil, Canola Oil, Bean Curd, Others), Application (Dietary Supplement, Pharmaceutical, Infant Formula, Food & Beverage, Pet Food, Fish Feed), Country (U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Omega-3 Market
The omega-3 market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with the CAGR of 8.9% in the forecast period of 2021 to 2028 and is expected to reach USD 555.94 billion by 2028. The penetration of clean label product along with their nutritional value is escalating the growth of omega-3 market.
Omega-3 refers to fatty acids which are found in food items including fish and flaxseed and nowadays, in dietary supplements such as fish oil. The three main omega-3 fatty acids are named as alpha-linolenic acid (ALA), eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA). Alpha-linolenic acid (ALA) is generally seen in plant oils including soybean, flaxseed and canola oils, while, DHA and EPA could be found in fish and other seafood. Omega-3 plays a prominent role in human body as they act as the important components of the membranes surrounding each cell in the body. They also act as the source of calories to provide the body energy and helps in various bodily functions.
The emergence of omega-3 in the active pharmaceutical ingredient (API) market and the growth in awareness regarding chronic diseases among population across the globe are the major factors driving the omega-3 market. The implementation of favorable regulations related to the utilization of omega-3 in infant formulations and the collaborations of key players to enhance the product accelerate the omega-3 market growth. The increase in adoption of omega-3 in supplements and functional foods as it is known to be highly effective in the treatment of several health issues such as menstrual health, depression, mental health and bone loss and growth in demand for food fortification especially mother and infant nutrition products also influence the omega-3 market. Additionally, the rise in awareness regarding the health benefits of omega-3, utilization in pet food and feed sector, increasing focus on preventive healthcare, growth in food processing applications and surging healthcare expenditure positively affect the omega-3 market. Furthermore, innovative production technologies, development of alternative sources to obtain omega-3, microencapsulation, growing awareness associated with the certified food ingredients, favorable regulatory environment and increasing consumer demand for plant-based products extend profitable opportunities to the omega-3 market players in the forecast period of 2021 to 2028.
On the other hand, high cost associated with the research and development activities and volatile fish prices are the factors expected to obstruct the omega-3 market growth. The sustainability issues among fisheries causing lower fish oil supply and lack of knowledge regarding the daily recommended intake among consumers are the factors projected to challenge the omega-3 market.
This omega-3 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 omega-3 market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Omega-3 Market Scope and Market Size
The omega-3 market is segmented on the basis of type, source and application. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the omega-3 market is segmented into alpha-linolenic acid (ALA), eicosapentaenoic acid (EPA), and docosahexaenoic acid (DHA).
- On the basis of source, the omega-3 market is segmented into fish oil and krill oil, algal oil, walnut, pumpkin seeds, soybean oil, canola oil, bean curd and others.
- On the basis of application, the omega-3 market is segmented into dietary supplement, pharmaceutical, infant formula, food and beverage, pet food and fish feed.
Global Omega-3 Market Country Level Analysis
The omega-3 market is analyzed and market size, volume information is provided by country, type, source and application as referenced above.
The countries covered in the global omega-3 market report are the U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominates the omega-3 market because of the high utilization of the product in the pharmaceutical industry, rise in the number of research and development activities, growing consumption of improved medication and the need to increase the life expectancy of the aging population. Asia-Pacific is expected to witness the significant CAGR during the forecast period of 2021-2028 because of the growing demand for the omega-3 products in the developing nations, increasing intake of fish oil in the daily diet, rise in health awareness among people and cultivation of krill fish in the South China Sea and the Indian Ocean.
The country section of the omega-3 market 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. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global 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 Omega-3 Market Share Analysis
The omega-3 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, global 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 market.
The major players covered in the omega-3 market report are Aker BioMarine, Axellus, BASF SE, BioProcess Algae, Croda, EPAX, Martek Biosciences, Lonza, Pronova, GC Rieber Oils, Cargill, Incorporated, FMC Corporation, Croda International Plc, Royal DSM, OLVEA Fish Oils, Omega Protein Corporation, Luhua Biomarine (Shandong) Co., Ltd., Pharma Marine AS, Polaris, Source-omega, Qualitas Health, Nordic Naturals, Algaecytes, Simris Alg among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Omega-3 Market
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