Omega 3 Market Size, Share, Growth Analysis, By Region(North America, Europe) - Industry Forecast 2024-2031

Omega 3 Market Competitive Landscape

To understand the competitive landscape, we are analyzing key Omega 3 Market vendors in the market. To understand the competitive rivalry, we are comparing the revenue, expenses, resources, product portfolio, region coverage, market share, key initiatives, product launches, and any news related to the Omega 3 Market.

To validate our hypothesis and validate our findings on the market ecosystem, we are also conducting a detailed porter's five forces analysis. Competitive Rivalry, Supplier Power, Buyer Power, Threat of Substitution, and Threat of New Entry each force is analyzed by various parameters governing those forces.

Key Players Covered in the Report:

• ket size was valued at USD 2.25 billion in 2021 and is poised to grow from USD 2.43 billion in 2022 to USD 4.48 billion by 2030, growing at a CAGR of 7.8% in the forecast period (2023-2030).
• The rise in demand for omega-3 is highly growing because there are more cases of heart disease and the change in dietary patterns is one of the significant reasons for rise in cardiovascular diseases. The increasing importance of immunity development in the wake of the COVID-19 pandemic has helped fuel the market.
• Increasing the addition of omega-3 ingredients in the diet to support heart and brain health is expected to increase product demand. The global market for dietary supplements and functional foods is seeing strong growth, largely due to increasing demand from consumers.
• The growing awareness of the health benefits of polyunsaturated fatty acids and the increasing availability of technology that improves their bioavailability are major factors fuelling the growth of the global omega fatty acid ingredients market.
• Omega-3 fatty acids contain a variety of plant-based oils, such as those found in nuts and oils from fish. These fatty acids are important for health and can be found in many types of seafood.
• Essential fatty acids are important for human health. Omega-3 fatty acids are one type of essential fatty acid. These fatty acids are necessary for the function of the brain and for the growth and development of humans. Omega-3 fatty acids have been shown to lower the risk of chronic diseases, such as cancer, heart disease, and arthritis. Therefore, these factors will boost the demand for omega-3 in the global market.
• The market value in North America stood at 62 million in 2022 and is predicted to grow at a CAGR of 4.71%. The growth of North American market for polyunsaturated fatty acids is due to the increasing awareness of the health benefits of these nutrients.
• The increasing currency of lifestyle-related health conditions, increasing number of older people, and stress of a hectic lifestyle will create a huge demand for dietary supplements and functional food in this region.
• The rising trend of veganism and vegetarianism in the region will result in huge demand for plant-based fatty acids. The recent development by the U.S. Food and Drug Administration (FDA) confirmed that these products can reduce the risk of cardiovascular conditions, thus boosting its demand in this region.
• Asia Pacific has immense potential for the omega fatty acids market, and it is expected to witness growth rates higher than the global average. The increase in the market for healthcare products is due to an increased awareness of the health benefits and an increase in people's optional income. This allows people to spend more on products that promote health.
• Global Omega 3 Market Dynamics
• Omega 3 Market Drivers
• Several Health Benefits from Consuming Omega-3 to Boost its Demand in Forecast Period
• The omega-3 fatty acids help to reduce the risk of abnormal heartbeats or arrhythmias, which can result in the patient's sudden death. The folate nutrient can help reduce triglyceride levels, slow the growth of atherosclerotic plaque, and reduce blood pressure. The trend of consumers choosing healthier alternatives and viewing preventive care as a necessary tool to assist them in leading a healthier lifestyle is growing. Omega 3s are more popular because they are a good source of vitamins, proteins, and minerals and can help deal with diseases like cancer, asthma, and depression. Various factors that affect consumers' purchasing decisions are brand name, nutritional value, and product safety.
• Omega 3 Market Restraints
• Fish Farming’s Impact on Environment to Hamper Market Growth
• A shortage of fish due to uneven catch and increasing demand for fish from other sources is limiting the market growth. Excessive environmental metals and hazardous pollutants are causing fish to become toxic, which is likely to slow down their growth.
• Global Omega 3 Market Competitive Landscape
• The global omega-3 market is fragmented in nature as various players are entering the global and regional markets. These players are investing in collaborations, mergers, acquisitions, and partnerships to stay ahead of the competition. They are also investing in R&D activities to expand their product portfolio and expand their consumer base.
• Omega 3 Market Recent Developments
• In July 2021, Neptune wellness arrangements Inc, a differentiated and completely coordinated wellbeing and wellness organization centred on plant based, sustainable and purpose driven way of life brands presented a unuse timberlands cured plant based multi omega 3-6-9 gummies delicate gels with tailflower as a major fixing. This new product can help consumer to fulfil the nutrient requirements of the human body.
• In February 2021, India based start-up Oziva announced the launch of new vegan omega 3 multivitamins to fulfil the increasing the demand for plant based dietary supplements.
• Global Omega 3 Key Market Trends
• Gummy Bears to Gain Massive Momentum during Forecast Period
• In recent years, there has been a rise in the prevalence of health conditions caused by a sedentary lifestyle, stress, aging, and other hereditary factors. This trend has led to the exploration of various ingredients that can positively affect certain body functions to maintain overall health and well-being. Gummy bears are gaining a lot of popularity in current times as they are marketed well. They are easy to consume and are presented very well. Social media is aggressively marketing these products to consumers, therefore a lot of people are buying supplements in the form of gummy bears.
• Global Omega 3 Market SkyQuest Analysis
• SkyQuest’s ABIRAW (Advanced Business Intelligence, Research and Analysis Wing) is our Business Information Services team that collects, collates, Co-relates and analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research
• According to global omega-3 market report analysis, the market is expected to rise in demand in the coming years. The market is expected to go through evolution as consumer demands are changing. Investing in product portfolio expansion and marketing the products correctly can provide players with added advantages. Consumers are looking to invest in supplements that are easy to consume, ecological ethical, and is promising in its results. Therefore, players in the market need to focus on branching out and investing in R&D activities.
• KEY MARKET SEGMENTS
• Type
• Docosahexaenoic acid (DHA)
• Eicosapentaenoic acid (EPA)
• Alpha-lionlenic acid (ALA)
• Source
• concentrates
• fish oil
• algal oil
• krill oil
• walnut
• pumpkin seeds
• soybean oil
• canola oil
• bean curd
• others
• Application
• Supplements & Functional foods
• Pharmaceuticals
• Infant Formula
• Animal Feed & Pet Food
• Food & beverages
• others
• By Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
• KEY MARKET PLAYERS
• DSM
• BASF
• Croda International
• Lonza
• Epax Norway
• GC Rieber Oils
• Omega Protein Corporation
• Arista Industries
• Omega-3 Innovations
• Polaris
• Cargill
• KD Pharma Group
• Nordic Naturals
• Aker BioMarine
• Pharma Marine
• Golden Omega
• Corbion
• Clover Corporation
• Huatai Biopharm Inc.
• Sinomega Biotech Engineering Co., Ltd.