Global Omega-3 Market, By Product Type (DHA, EPA, and ALA), By Applications (Dietary Supplements, Functional Foods & Beverages, Pharmaceuticals, Infant Formula, and Pet Food & Feed), By Source (Marine and Plant), By Region (North America, Europe, Asia Pacific, South America, and the Middle East & Africa)Trend Analysis, Competitive Market Share & Forecast, 2021-2027.

Source: BlueWeave Consulting

Global Omega-3Overview:

The human body is not capable of producing some fatty acids on its own. Omega-3 is an essential fatty acid that the body requires for maintaining optimal health. Omega-3 can be derived only from foods such as vegetable oils, fish, walnuts, leafy greens, etc. Omega-3 is increasingly used in manufacturing nutritional supplements, functional foods & beverages, pharmaceuticals, pet food, and animal feed, and infant food.Omega-3 is a family of essential fatty acids that provides numerous health benefits to the body. Consumers prefer consuming omega-3 supplements to make sure they get their outstanding share of nutrients.Omega-3 supplements have the potential to advance health. Even athletes are advised to consume adequate omega-3 fatty acids to maintain a healthy and fit body.

Global Omega-3: Forecast and Trends

Growth Drivers 

Application of Omega-3  In The Pharmaceutical Industry

Extensive use of omega-3  in the pharmaceutical industry can drive the growth of the pharmaceuticals sector in the forthcoming years.Omega-3 is used for its anti-inflammatory properties and its potential of controlling depression, cancer, Alzheimer’s disease, osteoporosis, and cardiovascular diseases. Furthermore, increasing usage of omega-3 for manufacturing pharma-grade capsules to treat obesity is likely to drive the growth of the segment. The Global Organization for EPA and DHA Omega-3s (GOED)is currently in the final stages of creating a massive searchable clinical study database consisting of over 42,000 published studies on EPA (eicosapentaenoic acid) and DHA (docosahexaenoic acid), including more than 4,000 human clinical trials. This factor will play a major role in driving the overall market growth.

Rising Health Awareness Among People

EPA and DHA in the blood are measured by the omega-3 index test, mainly the red blood cell membranes. For instance, according to Omegaquant if an individual has 64 fatty acids in a cell membrane and 3 are EPA and DHA, then they would have an Omega-3 Index of 4.6%. High Risk = <4%, intermediate risk = 4–8% and low risk = >8%. People with chronic diseases are at higher risk of mortality. Consumers who are including omega-3 in their daily diet are likely to have less mortality rate. The role of omega-3 in improving survival and well-being is encouraging more and more consumers to include omega-3 in their diet, which in turn, is driving the market growth. Regular consumption of omega-3 has several health benefits. In addition, omega-3 consists of essential nutrients which are vital for our health further fueling the global omega-3 market growth.

Restraints

Lack of awareness Among Consumers AboutProper Intake

In the absence of officially prescribed doses, the intake of omega-3 in the form of dietary supplements and fortified foods & beverages often repel consumers from consuming omega-3.The exact normal dose of omega-3 for daily consumption is not yet clear, despite substantial scientific studies undertaken by governments and non-governmental organizations. Thus, the increasing confusion about the recommended intake of omega-3 among consumers is impeding the market growth. Omega-3 is a significant food supplement that helps reduce the risk of heart attacks and autoimmune diseases besides enhancing brain function. Consumption of inadequate doses of omega-3 can result in very little or no health benefits. The situation is more critical in emerging economies such as India, China, Brazil, and Argentina, where consumers lack knowledge and a strong health care system. These are a few factors impeding the market growth.

Impact of COVID-19 in the industry

The global omega-3 market has shown a sudden rise in market demand due to COVID-19. The pandemic has severely affected several industry players with regard to business and functional parameters. As soon as the World Health Organization (WHO) declared the novel coronavirus (COVID-19) as a pandemic, countries across the globe were compelled to enforce nationwide lockdown to prevent the spread of the virus. This has severely impacted manufacturing besides disrupting the supply chains. However, there was growth in demand for omega-3 across the globe as people were more concerned about their health and fitness.

Different health-oriented product manufacturers, mainly dietary supplement manufactures have been witnessing a potential demand in the market amidst COVID-19. The global omega-3 market has been thriving with the increase in consumer awareness about the immunity-boosting omega-3 products. In addition, its efficiency in fighting the deadly COVID-19 virus is surging the demand for the global omega-3 market, including omega-3 products.

Global Omega-3: By Product Type

Based on product type, the omega 3 market is categorized into DHA, EPA, and a la. Docosahexaenoic acid (DHA) accounted for a significant share in the market in 2020. DHA plays a dynamic role in developing the brain of infants and in regulating the function of an adult’s brain. Due to these factors, it is the most favored product type in this respective segment. Additionally, DHA ingredients are used in treating diabetes, dementia, and cardiovascular disease. It is also used for improving vision, preventing eye disease, preventing and treating depression further fueling the demand for DHA in this segment.

Global Omega-3: By Application

Based on application, the market is segmented into dietary supplements, functional foods & beverages, pharmaceuticals, infant formula, and pet food & animal feed. The dietary supplements segment holds the largest share in the market and is likely to grow during the forecast period. Nowadays consumers prefer consuming omega-3 capsules as their staple food items consist of an inadequate amount of omega-3, which fails to fulfill the demand of the body. Omega-3 supplements are easy to ingest and their regular consumption provides consumers with countless health benefits. The growth of the global omega-3 market can be attributed to the fact that omega-3 is highly effective in the treatment of a variety of health conditions, including depression, bone loss, menstrual health, and mental health. This has paved the way for omega-3 to be utilized in dietary supplements in the application segment.

Global Omega-3 Market: By Source

Based on sources, the global omega-3 market is fragmented into marine and plant. The marine source of omega-3 fatty acids grips the main share in the market and is likely to dominate the market in the forecast period. This growth can be attributed to the significant EPA and DHA content in oily fishes like tuna and salmon. Many manufacturers are also creating marine-based omega-3 to meet the increasing demand for EPA and DHA, which are not abundantly present in other plant-based sources. Consequently, this is creating a lucrative opportunity in the market.

Global Omega-3Market: Regional Insights

The global omega-3 market is segmented into five regions North America, Europe,the Asia-Pacific, Latin America, and the Middle East & Africa.The Asia-Pacific accounts for the highest share in 2020 and likely to dominate in the forecasted period. The change in consumer preference toward a healthy diet, including omega-3 constituents and fish oil in the Asia-Pacific, is likely to uplift sales. China is the third-largest market for EPA and DHA oils globally. Customers in China mostly derive their omega-3 intake from fish and health supplements. Omega-3 sourced from fish oil controls the dietary supplements sector, while algal DHA oil leads the thriving food and beverage industry.