Global omega 3 market is estimated to account for a value of USD 3.92 billion in 2019 and is estimated to grow at a CAGR of 9.7% from 2019 to 2026
Published | April 2020
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.
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.
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: Competitive Landscape
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.
Some of the leading players operating in the global specialty enzymes market are 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.
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