The growth of omega-3 market is due to the consumer awareness of the health benefits associated with omega-3 fatty acids, such as cardiovascular health and cognitive function support, is driving the increasing demand for omega-3 enriched products across various markets.
WILMINGTON, Del., Aug. 29, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Omega-3 Market by Type (ALA (alpha-linolenic acid), DHA (docosahexaenoic acid), EPA (eicosapentaenoic acid)), Source (marine, nuts and seeds, vegetable oils and soya & soya products), and Application (dietary supplements, pharmaceuticals, infant formulas, food & beverages and pet food and fish feed): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the omega-3 market was valued at $7.9 billion in 2023, and is estimated to reach $30.8 billion by 2033, growing at a CAGR of 14.7% from 2024 to 2033.
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Prime determinants of growth
The omega-3 market has experienced robust growth driven by several key factors. Firstly, rising consumer awareness of the health benefits associated with omega-3 fatty acids, such as their role in supporting cardiovascular health, cognitive function, and overall well-being, has significantly expanded demand. Scientific research highlighting these benefits has further bolstered market growth by enhancing consumer confidence in omega-3 supplements and fortified foods. Moreover, demographic shifts, including an aging population increasingly focused on preventive healthcare, have fueled demand for omega-3 products. Moreover, the expanding application of omega-3 in pharmaceuticals, dietary supplements, infant nutrition, and functional foods has broadened its market penetration. Technological advancements in extraction methods and product formulation have improved the bioavailability and stability of omega-3 products, enhancing their appeal to consumers.
Furthermore, regulatory support and endorsements from health organizations advocating for increased omega-3 consumption have provided a favorable regulatory environment, encouraging market expansion. Lastly, the growing disposable incomes in emerging economies have created new opportunities for omega-3 product manufacturers to tap into previously underserved markets, driving global market growth. These factors collectively underscore the dynamic growth trajectory of the omega-3 market over recent years.
Report coverage & details:
Report Coverage | Details |
Forecast Period | 2024-2033 |
Base Year | 2023 |
Market Size in 2023 | $7.9 Billion |
Market Size in 2033 | $30.8 Billion |
CAGR | 14.7 % |
No. of Pages in Report | 256 |
Segments Covered | Type, Source, Application, and Region. |
Drivers | Health Benefits Awareness |
Rising Prevalence of Chronic Diseases | |
Opportunities | Innovation in Delivery Forms |
Rise in demand for personalized nutrition | |
Restraints | Sustainability and Environmental Concerns |
Taste and Stability Issues |
Segment Highlights
The DHA segment have high demand in omega-3 market. The DHA (Docosahexaenoic Acid) segment of the omega-3 market is experiencing high demand primarily due to its recognized health benefits. DHA is essential for brain development and function, making it particularly popular in infant formula and maternal nutrition products. Its role in supporting cognitive health throughout life has also spurred demand among aging populations concerned with maintaining mental acuity. Moreover, DHA's contribution to eye health, cardiovascular function, and overall well-being has broadened its application in dietary supplements and functional foods. The increasing prevalence of chronic diseases globally has further driven the demand for DHA-enriched products, as it is believed to have anti-inflammatory properties and may help reduce the risk of cardiovascular events.
The marine segment have high demand in omega-3 market. The marine segment of the omega-3 market enjoys robust demand driven by its rich content of EPA (Eicosapentaenoic Acid) and DHA (Docosahexaenoic Acid), essential fatty acids recognized for their myriad health benefits. These include support for cardiovascular health, cognitive function, and inflammatory response, among others. Marine omega-3s are highly bioavailable, ensuring efficient absorption and utilization by the body, which enhances their appeal in dietary supplements, functional foods, and pharmaceuticals.
The dietary supplement segment have high demand in omega-3 market. The dietary supplement segment of the omega-3 market is characterized by high demand driven by growing consumer awareness of the health benefits associated with omega-3 fatty acids, such as cardiovascular support, cognitive function enhancement, and anti-inflammatory properties. Omega-3 supplements offer a convenient and accessible way for consumers to meet their daily nutritional needs, available in various forms to suit different preferences. Endorsements from healthcare professionals and regulatory bodies further bolster their popularity by recommending omega-3 supplements for managing health risks and promoting overall well-being.
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Regional Outlook
North America dominates the omega-3 market for several key reasons that underscore its leadership in the industry. The region has a large and health-conscious consumer base with significant awareness of the benefits of omega-3 fatty acids for heart health, cognitive function, and overall well-being. This awareness drives substantial demand for omega-3 enriched products, including dietary supplements, functional foods, and pharmaceuticals. Secondly, North America boasts a well-established infrastructure for research and development, supporting continuous innovation in omega-3 products and formulations. This innovation helps meet diverse consumer preferences and ensures product quality and efficacy, further strengthening market leadership. Moreover, robust regulatory frameworks in countries like the United States and Canada provide a stable environment for omega-3 product development, ensuring compliance with health and safety standards and boosting consumer confidence.
Players: -
- LUHUA BIOMARINE (SHADONG) CO., LTD.
- Cargill, Inc.
- Croda International Plc.
- GC Reiber Oils
- Olvea Fish Oils
- Pharma Marine AS
- Omega Protein Corporation
- Royal DSM
- FMC Corporation
- Epax, Nuseed Global
- Polaris
The report provides a detailed analysis of these key players in the global omega-3 market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Recent Developments
- In March 2023, Epax announced an investment of USD 40 million in molecular distillation technology for improving the processing of highly concentrated omega 3.
- In May 2023, Nuseed Global introduces Nuseed Nutriterra plant-based oil enriched with omega-3, tailored to meet the needs of the human nutrition and dietary supplement markets.
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