Global Omega 3 market

Global Omega 3 Market Size, Share, Growth Analysis, By Type(Docosahexaenoic acid (DHA), Eicosapentaenoic acid (EPA)), By Source(concentrates, fish oil), By Application(Supplements & Functional foods, Pharmaceuticals) - Industry Forecast 2023-2030


Report ID: SQMIG30I2293 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 100 | Figures: 76

Global Omega 3 Market Insights

Omega 3 Market 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.

US Omega 3 Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2023-2030

Global Market Size

USD 2.25 billion

Largest Segment

Supplements & Functional foods

Fastest Growth

Supplements & Functional foods

Growth Rate

7.8% CAGR

Global Omega 3 Market ($ Bn)
Country Share for North America Region (%)
Country Share for Aisa Pacific Region (%)
Global Omega 3 Market By Application ($ Bn)
Global Omega 3 Market By Application (%)

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Global Omega 3 Market Segmental Analysis

Omega 3 Market is segmented by type, source, application, and region. By type, the Omega 3 Market is segmented into docosahexaenoic acid (DHA), eicosapentaenoic acid (EPA), and alpha-linolenic acid (ALA).
By source, the market is segmented into concentrates, fish oil, algal oil, krill oil, walnut, pumpkin seeds, soybean oil, canola oil, bean curd and others.
By application, the market is segmented into Supplements & Functional foods, Pharmaceuticals, Infant Formula, Animal Feed & Pet Food, Food & beverages, and others. By region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and MEA.

Omega 3 Market Analysis by Source

On the base of source analysis, the concentrates segment is expected to hold the largest market share. This is mainly attributed to the high percentage of EPA and DHA present in them.

Concentrates are totally clean for the most part containing 80% of EPA &DHA combined, these are the most reason why this segment is expected to display power within the forecast period.

In the production of omega-3 fatty acid fish oil was the primary source as they are rich in content. Decreasing fish population has conducted to the search for a more sustainable replacement for fishing.

Krill oil has gained more popularity in recent years as an alternative to fish sources to extract omega-3 fatty acids. Algae contain only DHA, while krill oil and fish oil contains both EPA & DHA.

Omega 3 Market Analysis by Application

One of the major factors driving the growth of this market is the increasing popularity of dietary supplements. Omega-3 fatty acids are related to heart health, mental health, and brain development in infants.

This has increased the demand for omega-3 supplements in all age groups. Functional foods are the fastest-growing application category in the market.

In the developed markets of North America and Europe, consumers are increasingly turning to functional food products such as dietary supplements to manage their health.

Global Omega 3 Market By Application, 2021 (%)

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Global Omega 3 Market Regional Insights

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 By Region, 2023-2030
  • Largest
  • Fastest

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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.

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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 Top players company profile

  • 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.

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.

Report Metric Details
Market size value in 2021 USD 2.25 billion
Market size value in 2030 USD 4.48 billion
Growth Rate 7.8%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • 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
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • 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.
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Omega 3 Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Omega 3 Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Omega 3 Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Omega 3 Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Omega 3 Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Omega 3 Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Omega 3 Market 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 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. '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.'

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.

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.

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.

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