Global Omega 3 Market – Market Forecast & Trends

Global omega 3 market was valued at USD 3,924 million in 2019 and is anticipated to grow at a CAGR of 9.71 % during the forecast period Rising demand from end-users and growing consciousness among customers concerning healthy intake and health welfares of omega-3 are the critical drivers of the global omega-3 market. The industry is proven by ω-3 fatty acids market and n-3 fatty acids market sections, which contribute considerably to the omega-three fatty acids market size. However, severe regulation fences and high costs are likely to hinder the market growth. Besides, Asia-Pacific is projected to register significant development as likened to the saturated markets of North America and Europe. The part of the omega-3 fish oil market is expectable to decline, due to the low cost of vegetative bases such as vegetable oil, and soy products, nuts & seeds. The making from these vegetative sources is predictable to be commercialized from 2017.

Fish oil omega-3 market is ambitious by the research and growth efforts that are channelized toward refining the procurement rehearses, augmenting the mining process of omega-3 fatty acids, and sustainably streamlining the entire value chain of the industry.

Health experts across the world have substantially raised the recommended daily dietary intake of omega-3 fatty acids, because of which, the fish oil consumption has increase certainly. The increase in apparent health benefits of omega-3 fatty acids, for which fish oil is the primary extraction source, is also motivating the market.

Global Omega 3 Market – Overview

Omega-3 progressively finds use in nutritional supplements, functional foods & beverages, pharmaceuticals, pet food and feed, infant formula. Dietary supplements are projected to reason for the main market due to the fast-paced and busy lifestyles. Customers prefer intaking dietary supplements to make sure that they get their ideal share of nutrients, and omega-3 supplements are used to advance the health and presentation, wherein athletes are advised passable intake of omega-3 fatty acids for a healthy and fit body.

Growth Drivers

Extensive application of omega 3 in the pharmaceutical industry

Extensive scale application of omega 3 in the pharmaceutical industry is probable to drive the pharmaceuticals request section in the forthcoming years. Omega 3 is used for its anti-inflammatory properties as well as for the cure of depression, cancer, Alzheimer’s, osteoporosis, and cardiovascular diseases. Moreover, increasing the use of omega 3 in producing pharma-grade capsules to treat obesity is expected to drive the segment.

Rising health awareness among people

Growing consciousness concerning the decline in calorie intake among gym specialists and athletes in several countries, including China, Italy, India, and U.S., is likely to endorse the usage of omega 3 in sports supplement and useful food products.

Increasing diseases due to inactive lifestyle

Addition and functional foods are chiefly expended with the meaning to safeguard the consumption of nutritional constituents significant for the human body. Increasing incidences of cardiovascular diseases owing to the lazy and slow lifestyle, exclusively among the age group of 30 to 40 years, and changeable dietary designs are the factors predictable to push the importance of omega 3-based nutraceutical products in the market over the next few years.

Global Omega 3 Market: Segmentation

Based on product type, the Omega 3 market is divided into DHA, EPA, and ALA. Docosahexaenoic acid (DHA) held a major share in the market. This is due to amplified reasoning functionalities of omega-3 that are attaining consumer attention. DHA plays a dynamic role in the development and development of the baby brain and for the usual operative of adult brains. Due to these factors, it is amid the most favored types of omega-3.

Because of Application, the global omega 3 market is segmented into Dietary Supplements, Functional Foods & Beverages, Pharmaceuticals, Infant Formula, and Pet Food & Feed. The dietary supplements segment is predicted to account for the significant share in the market during the estimated period. Though many food products are rich in omega-3, since the amount of omega-3 in such products is not adequate, the consumers these days have started intaking capsules for omega-3. By overwhelming such supplements, a sufficient amount of omega-3 can be absorbed and controlled. Besides, they are easy to ingest to ensure the necessary amount of daily intake is met.

Based on the source, the global omega 3 market is alienated into Marine and Plant. The marine source of omega-3 fatty acids grips the main share because of the big EPA and DHA content in the utmost of the oily fishes like tuna and salmon. Many manufacturers are also creating marine-based omega-3 to meet the increasing request for EPA and DHA, which are not plentifully present in other plant-based sources.

Geographically, the omega 3 market is divided into North America, Europe, Asia-Pacific, and LAMEA regions. North America region had the main market for the specialty enzymes in 2014 due to the presence of numbers of biopharmaceutical companies in the U.S. and favorable government regulations.

Global Omega 3 Market: Regional insights

The change in consumer preference toward a healthy diet, including omega-3 constituents and the use of fish oil in Asia-Pacific, is predictable to uplift the sales. China is the third-largest market for EPA and DHA oils in the global. Customers in China mostly get their omega-3s from fish, supplements, and heartened foods. Omega-3 sourced from fish oil controls the dietary supplements sector, while algal DHA oil leads in the encouraged food and drink industry. Cooking oil, eggs, and health drinks are few prevalent fortified omega-3 products in the Indian market. Over the last period, consumer request has increased, as more Australians recognize the welfares of algal oils for refining joint, circulatory health, and fighting depression.

Competitive Landscape

Cargill, Incorporated, FMC Corporation, Croda International Plc, Royal DSM, OLVEA Fish Oils, Omega Protein Corporation, GC Rieber Oils, Luhua Biomarine (Shandong) Co., Ltd., Pharma Marine AS and Polaris and other prominent players.

Recent Development

Ø  In October 2019, KD Pharma (Germany) introduced Kardio3, which is a blend of omega-3, vitamin K2, and phytosterols. It helps in preserving fit lipids and funds heart and bone fitness.

Ø  In September 2019, Epax (Norway) proclaimed an investment of USD 35 million over the next two years for the novelty of its Omega-3 sector. This venture will allow Epax to have better capacity in the omega-3 industry at its main site of production in Norway. It will facilitate the prolonged attentiveness of EPA and DHA without encouragement oxidation, which will eventually avoid unwelcome by-products.

Ø  By Product Type

Ø  Docosahexaenoic acid (DHA)

Ø  Eicosapentaenoic acid (EPA)

Ø  Alpha-linolenic acid (ALA)

Based on product type, the Omega 3 market is divided into DHA, EPA, and ALA. Docosahexaenoic acid (DHA) held a major share in the market. This is due to amplified reasoning functionalities of omega-3 that are attaining consumer attention. DHA plays a dynamic role in the development and development of the baby brain and for the usual operative of adult brains. Due to these factors, it is amid the most favored types of omega-

Ø  By Application

Ø  Dietary Supplements

Ø  Functional Foods & Beverages

Ø  Pharmaceuticals

Ø  Infant Formula

Ø  Pet Food & Feed

Ø  By Source

ØMarine

ØPlant

Ø  By Region

ØNorth America

ØEurope

ØAsia Pacific

ØSouth America

ØMiddle East & Africa

The objective of the Study:

Ø  To analyze and forecast the Global Omega 3 market size of the market in terms of value.

Ø  To examine the careful market segmentation and forecast the market size, in terms of value, based on the region by segmenting.

Ø  The Global Omega 3 market segmented into five regions, namely, North America, Europe, Asia Pacific, Middle East, South America, and their leading countries.

Ø  To outline, categorized, and forecast the Global Omega 3 market based on the Product Type, Application, By Source and Regional.

Ø  To examine competitive developments like by Product type, By Application, By Source, Region within the Global Omega 3 market.

Ø  To highlight the impact analysis of the factors affecting the market dynamics such as growth drivers.

Ø  To strategically profile the key players and comprehensively analyze their market shares along with detailing the competitive landscape for market leaders.

Business Questions Answer by the Report

Ø  How will the market drivers, restraints, and opportunities affect the market dynamics?

Ø  What will be the market size in terms of value and volume and market statistics with a detailed classification?

Ø  Which segment dominates the market or region, and one will be the fastest - growing, and why?

Ø  A comprehensive survey of the competitive landscape and the market participant players

Ø  Analysis of strategy adopted by the key player and their impact on other players.

Customization Scope for the Clientk

Client satisfaction is our first and last priority, and that is why BlueWeave Consulting offers customization according to Company’s specific needs. The following customization options are available for the report:

Additional Company Information

Ø  With five additional company detail analysis

Ø  Additional country analysis

Ø  Detailed segment analysis