Omega-3 Market poised to reach a valuation of USD 2.6 Billion by the end of 2032 | Market.us Report

New York, April 04, 2023 (GLOBE NEWSWIRE) — According to Market.us, The Global Omega-3 Market size is expected to be worth around USD 2,682 Million by 2032 from USD 1,698 Million in 2022, growing at a CAGR of 4.8% during the forecast period from 2023 to 2032. Omega-3 is the healthy fats that support health benefits to the body. Consumers are spending more on healthcare and well-being, and due to this omega-3 market is rising.

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Key Takeaway:

• By Type, in 2022, the DHA segment has generated the largest revenue share 2022.
• By Source, the marine omega-3 segment has dominated the market, and it accounted for 70% of the market share in 2022.
• By Application, the dietary supplements segment generated the largest revenue share in 2022.
• In 2022, North America dominated the market with the highest revenue share of 37.1%.
• Asia Pacific region is expected to grow at a significant CAGR from 2023-2032.

Most of the users in North America and Europe desire krill oil other than other traditional bases of fish oil due to its unpleasant flavor, acid influx, and large capsules.

Factors affecting the growth of the omega-3 market

Several factors can affect the growth of the omega-3 market. Some of these factors include:

•  Increasing health awareness: Consumers worldwide are more aware of their well-being and health facts, due to this consumers are preferring natural and healthy diets, which surged demand for omega-3 in dietary supplements.
• Increasing use in pharmaceuticals: Omega-3 is used to lower blood pressure, and lessen the chance of sudden cardiac death in individuals with heart diseases. Due to this omega-3 have high demand in pharmaceuticals.
• Growing demand in athletes: Athletes worldwide prefer omega-3 as a supplement that helps in muscle recovery and development. Omega-3 is rich in protein, and other nutritional values which are helpful in fulfilling the daily nutrition demands of athletes.

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Top Trends in Global Omega-3 Market

Manufacturers are now more inclined toward raw material procurement at competitive pricing. Raw material procurement involves engaging in long-term supply contracts with raw material suppliers. Consumers are shifting towards natural and nutritional products due to increasing health awareness regarding the use of omega-3 products.

Personalized nutrition and health have enabled consumers to measure the EPA and DHA amounts in their blood independently. The increasing incorporation of omega-3 products in infant formulae is a key trend in the market.

Market Growth

The growth of the omega-3 market is attributed to technological advancements that increase the body’s ability to supply and absorb omega-3 substances. The production of lipid-based supplements remains dominating due to their unpredictable bioavailability and absorption rates.

In addition, advances in processing techniques, such as the extraction of omega-3 from new sources, will drive demand for omega-3 products in this market. Factors such as increasing adoption of omega-3-based products in pet food and dietary supplements are the primary factor for the growth of the omega-3 market.

Regional Analysis

The omega-3 market was dominated by North America, which acquired the most significant revenue share of 37.1% in 2022. The growth of the region is propelled by the presence of major key players in pharmaceutical companies such as Pfizer, Amway, Johnson & Johnson, and Amarin Pharma in the North American region. Increasing demand for omega-3 in the pharmaceutical industry and increased research & development activities related to the product are anticipated to propel the growth of the North American market during the forecast period. Increasing consumption of omega-3 by athletes also boosts the growth of this market due to their ability to improve protein synthesis, enhance muscle health and enhance physical performance.

Asia Pacific region is expected to grow at the fastest CAGR during the forecast period due to the increasing importance of omega-3 DHA for children’s health. Also, increasing demand for packaged foods in countries such as India, China, Japan, Australia, and Thailand is expected to drive this market.

Competitive Landscape

Prominent players in the omega-3 market are developing expansion strategies through investments and mergers, and acquisitions. The market is witnessing an increasing number of new applicants across the value chain due to increased incomes and the competitive landscape of manufacturers.

Some of the major key players in omega-3 markets are DSM, BASF SE, Lonza Group, Glanbia Plc, ADM, Farbest Brands, SternVitamin GmbH & Co. KG, Adisseo, BTSA Biotechnologies Aplicadas S.L., Rabar Pty Ltd, Golden Omega, Kinomega Biopharm Inc., Sinomega Biotech Engineering Co. Ltd., Polaris, Pharma Marine AS, Huatai Biopharm, ALGISYS LLC, Biosearch Life, and Other Key Players.

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Scope of the Report

Market Drivers

Omega-3 fatty acids help to decrease the risk of arrhythmias or abnormal heart rhythms, which can lead to the patient’s sudden death. Omega-3 also helps to reduce triglyceride levels, slows the growth of atherosclerotic plaques, and lowers blood pressure. Consumers are more inclined towards healthier alternatives due to the health benefits of omega-3. Due to this omega-3 is more popular as they are a good source of vitamins, proteins, and minerals. Increasing awareness regarding the use of omega-3 among consumers drives the need for omega-3 in this market.

Market Restraints

Increasing environmental, metal, and pollutant content in fish is expected to make them toxic for consumption which is restraining the market growth. Also, strict regulations on fishing activities to protect fish species are expected to have a negative impact on the growth of the omega-3 market.

Market Opportunities

The increasing use of omega-3 fatty acids in pet food and pharmaceuticals is driving demand for omega-3 in this market. Increasing consumer awareness regarding health and well-being is expected to drive demand for omega-3 in the market during the forecast period. Omega-3 is a rich source of vitamins, minerals, and proteins, and due to this, omega-3 products are more popular among consumers. Increasing numbers of gyms and sports clubs worldwide lead to physical activities and are expected to create high demand for omega-3 in dietary supplements during the forecast period.

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Report Segmentation of the Omega-3 Market

Type Insight

Based on type, the DHA segment is dominant in this market with the largest market share and is expected to continue its dominance during the forecast period. Growth of the segment is propelled by the large use of DHA in dietary supplements and fortified foods. DHA is used in the treatment of dementia, attention deficit hyperactivity disorder, coronary heart disease (CAD), and type 2 diabetes. The significant health and medical benefits of DHA are the growth factor of this segment.

Source Insight

Based on the source, the marine omega-3 segment was dominant in the market, with the largest market revenue share in 2022. The segment growth is attributed to a great quantity of DHA and EPA in marine microbes such as fish carcasses or cod liver oil, or fatty fish, and algae. The significant use of marine omega-3 in healthcare is driving the growth of this segment. Omega-3 acids can be used to partially inhibit a variety of inflammatory processes, such as leukocyte chemotaxis and adhesion molecule expression.

Application Insight

On the basis of Application, the dietary supplements segment was dominant in this market, with the largest market share in 2022. The health effects of omega-3 that support heart and mental health have increased the demand for omega-3 in dietary supplements. Consumers in developed countries such as North America and Europe mainly focus on health management. Furthermore, increasing awareness about the benefits of omega-3 in dietary supplements drives the market growth.

Recent Development of the Omega-3 Market

• In November 2022, a DHA starter kit and Algal Omega-3 supplement were introduced in the market by Orlo Nutrition which has a significant positive effect on support systems like the brain, heart, joints, and body.
• In July 2021, Coromega, a Quadra Ingredient Company, launched its first Omega-3 liquid squeeze supplements for dogs.

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Market Segmentation

By Type

By Source

By Application

• Dietary Supplements
• Functional/Fortified Foods
• Infant Formulae
• Pharmaceuticals
• Animal Feed
• Pet Food

By Geography

• North America
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Key Market Players

• Koninklijke DSM N.V.
• BASF SE Company Profile
• Lonza Group AG Company Profile
• Glanbia Plc
• ADM Company
• Farbest Brands
• SternVitamin GmbH & Co. KG
• Adisseo
• BTSA Biotechnologias Aplicadas S.L.
• Rabar Pty Ltd
• Golden Omega
• Kinomega Biopharm Inc.
• Sinomega Biotech Engineering Co. Ltd.
• Polaris
• Pharma Marine AS
• Huatai Biopharm
• ALGISYS LLC
• Biosearch Life
• Other Key Players

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