DUBLIN–(BUSINESS WIRE)–The “Global Omega 3 Market: Size, Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022-2030” report has been added to ResearchAndMarkets.com’s offering.
Omega 3 fatty acids come in three major forms: eicosapentaenoic acid (EPA), alpha-linoleic acid (ALA) and docosahexaenoic acid (DHA). EPA and DHA are mostly found in marine animals like fatty fish and krill and are majorly promoted for their benefit to the heart. While ALA is found in plant seed oils such as walnuts, flaxseed, hemp. Out of the two the animal based variety i.e. EPA and DHA is promoted more as most health benefits are linked to it.
EPA and DHA can help to reduce several cardiovascular disease risk factors and many experts recommend the consumption of omega-3s to support heart health. DHA is considered to be important for visual and neurological development in infants. Research has also demonstrated that poor memory is associated with low levels of DHA and DHA supplements support brain health in ageing brains. It also supports health of the eyes, as DHA is the raw material that help to prevent retinal cell damage.
In recent years due to increased focus on omega 3 fatty acids health benefits it has become a multibillion-dollar business, with Americans alone spending more than 2 billion dollars on foods fortified with omega-3 fats. As research and awareness continues to increase, the consumption of omega 3 fatty acids is expected to rise. Also, the global omega-3 nutrition gap is far from covered. Cardiovascular health benefits is the major driver and supplements providing this are projected to have a market value of about 8 billion dollars by 2018. The opportunity for supplements aiming brain and vision improvement is valued more than $500 million by 2018. Supplements is not the only form in which omega-3 fatty acids are available, in fact in recent years packaged food and drinks rich in omega-3 fatty acids have had a higher growth rate than supplements.
In 2021, marine source accounted for the largest share of the market and projected to maintain its dominance over the forecast period. Krill and fish oils are two major marine sources for omega-3 fatty acid. The availability of various types of fishes and the numerous health benefits offered by them is projected to be the major factor driving the market growth. Krill comprises the largest biomass on the earth, which ensure availability of the raw material source for krill oil.
However, owing to shift in trend towards non animal based supplements is projected to restrain the growth of the market. Furthermore, owing to rise in manufacturing expense due to presence of toxins along with decrease production is projected to restrict the utilization of fish oil in this industry. Other sources such as nuts and seeds, vegetable oils and soya and soya products are likely to have a positive impact on the market.
Omega 3 are used in various applications. Among all the applications dietary supplements segment accounted for the largest share of the market. More than 50% of the market is accounted by dietary supplement segment. This segment is witnessing growth on account of increasing importance of omega 3 supplements. Infant formula segment is projected to witness significant growth on account of rising importance of ALA for the functional development of infants during pregnancy and first two years after childbirth. Moreover, governments are educating people, especially in emerging economies about the importance of infant health, which is further projected to fuel the growth. Food and beverages segment is projected to witness growth on account of rising demand for new health products, R&D initiative by the food manufacturers, advancement in the field of emulsification technologies and encapsulation.
Market Segmentation
Type
- ALA (alpha-linolenic acid)
- DHA (docosahexaenoic acid)
- EPA (eicosapentaenoic acid)
Source
- Marine
- Nuts and Seeds
- Vegetable oils
- Soya and Soya Products
Application
- Dietary supplement
- Pharmaceutical
- Infant formula
- Food & Beverages
- Pet Foods
- Fish Feed
Key Topics Covered:
1. Preface
2. Executive Summary
3. Omega 3 Market: Business Outlook & Market Dynamics
4. Omega 3 Market: by Type, 2020-2030, USD (Million)
5. Omega 3 Market: by Source, 2020-2030, USD (Million)
6. Omega 3 Market: by Application, 2020-2030, USD (Million)
7. North America Omega 3 Market, 2020-2030, USD (Million)
8. UK and European Union Omega 3 Market, 2020-2030, USD (Million)
9. Asia Pacific Omega 3 Market, 2020-2030, USD (Million)
10. Latin America Omega 3 Market, 2020-2030, USD (Million)
11. Middle East and Africa Omega 3 Market, 2020-2030, USD (Million)
12. Company Profiles
Companies Mentioned
- Cargill Ltd.
- Croda International PLC.
- FMC Corporation
- GC Reiber Oils
- LUHUA BIOMARINE (Shadong) Co Ltd
- Royal DSM
- Pharma Marine AS
- Omega Protein Corporation
- Polaris
- Olvea Fish Oils.
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