The Omega-3 Fatty Acid Market Size was valued at USD 2.35 billion in 2022 and is expected to reach USD 4.16 billion by 2030, and grow at a CAGR of 7.4% over the forecast period 2023-2030.
Fish and flaxseed, as well as vitamin supplements like fish oil, contain omega-3 fatty acids. The three principal omega-3 unsaturated fats are alpha-linolenic corrosive (ALA), eicosapentaenoic corrosive (EPA), and docosahexaenoic corrosive (DHA). DHA and EPA are found in fish and other seafood, while alpha-linolenic acid (ALA) is found in plant oils such as soybean, flaxseed, and canola oils. Omega-3 fatty acids play a crucial role in the human body because they are important components of the membranes that surround each cell. They also act as a source of calories, providing energy to the body and aiding in numerous biological activities.
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The omega-3 Fatty acids is being driven by the advent of omega-3 as an active pharmaceutical ingredient (API) and the growing awareness of chronic diseases among people all over the world. The adoption of favorable rules regarding the use of omega-3 in infant formulas, as well as cooperation between key companies to improve the product, are accelerating the growth of omega-3 fatty acids. Increased adoption of omega-3 in supplements and functional foods as it is known to be highly effective in the treatment of a variety of health problems like menstrual health, depression, mental health, and bone loss, as well as an increase in demand for food fortification, particularly for mother and infant nutrition products, all, have an impact on the omega-3 fatty acids market.
Moreover, expanded consciousness of omega-3's wellbeing benefits, use in pet food and feed, a more noteworthy spotlight on deterrent medical care, development in food handling applications, and rising medical services use all lift the omega-3 unsaturated fat industry. Moreover, in the forecast period, innovative production technologies, development of alternative sources of omega-3, microencapsulation, growing awareness of certified food ingredients, favorable regulatory environment, and enhancing consumer demand for plant-based products provide profitable opportunities for omega-3 fatty acids market players.
DRIVERS
Increasing awareness of health benefit
Advancement in technologies
RESTRAINTS
Unpleasant sensory experience.
High temperatures
Quality effects
OPPORTUNITIES
Plant-based product
Different geographies
High investment in extraction of omega-3
CHALLENGES
Competitive price range.
Large or scare competition
The COVID-19 outbreak has helped the international market. There has been a significant surge in demand for omega fatty acid foods and dietary supplements to improve health and immunity, according to research. The widespread dissemination of doctor recommendations to incorporate immunity-boosting dietary supplements into daily living is a major factor in the product's widespread adoption. The supply chains of enterprises in the industry have been disrupted, owing to mobility limitations and geometrically rising logistics and transportation costs as a result of the ongoing pandemic. The product's manufacturing process has been hampered by a slowdown in the import and production of raw materials.
Furthermore, the original lockdowns, as well as their persistence, have resulted in workforce shortages in some manufacturing plants. From now on, product safety, product information transparency, and cleanliness issues are expected to stay prevalent among consumers. Market participants can raise their market value and prominence by ensuring the aforementioned variables are completely addressed during raw material sourcing, product manufacture, and packaging.
MARKET ESTIMATION
By Type: Alpha-linolenic acid (ALA), eicosapentaenoic acid (EPA), and docosahexaenoic acid (DHA) make up the omega-3 market (DHA).
By Source: Fish oil and krill oil, algal oil, walnut, pumpkin seeds, soybean oil, canola oil, bean curd, and other omega-3 products are available.
By Application: Dietary supplements, pharmaceuticals, infant formula, food and beverage, pet food, and fish feed are all segments of the omega-3 market.
By Source
Marine
Vegetable oils
Soya and Soya Products
Nuts and Seeds
By Type
ALA (alpha-linolenic acid)
EPA (eicosapentaenoic acid)
DHA (docosahexaenoic acid)
By Application
Dietary Supplement
Food & Beverage
Fish Feed
Pharmaceutical
Infant Formula
Pet Food
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North America was the largest regional market. Several regional market players, including Omega Protein Corp., Martek Biosciences Corp., and BioProcess Algae, are focused on R&D activities to create pharma-grade omega 3, which is boosting the regional market growth. The growing demand for omega 3 supplements in Europe can be ascribed to an aging population and an increase in cases of various health disorders, notably in economies.
Over the forecast period, Asia Pacific is expected to have the highest CAGR. Growing awareness of the need for a healthy diet and general well-being, as well as rising disposable income, are predicted to enhance product demand in the region. In the Asia Pacific, the high birth rate and growing population of young mothers are expected to increase demand for baby nourishment, resulting in increased product consumption. Brazil, with increased demand for health supplements, is driving product demand throughout Central and South America.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
South Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of the Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The Major Players are Orkla Health, BASF SE, Aker Biomarine Antarctic AS, EPAX, BioProcess Algae, LLC, Lonza, Croda International Plc, Omega Protein Corp., Koninklijke DSM N.V., GC Rieber Oils and Other Players.
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 2.35 Billion |
| Market Size by 2030 | US$ 4.16 Billion |
| CAGR | CAGR of 7.4% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Source (Marine, Vegetable oils, Soya and Soya Products, Nuts and Seeds) • By Type (ALA, EPA, DHA) • By Application (Dietary Supplement, Food & Beverage, Fish Feed, Pharmaceutical, Infant Formula, Pet Food) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Orkla Health, BASF SE, Aker Biomarine Antarctic AS, EPAX, BioProcess Algae, LLC, Lonza, Croda International Plc, Omega Protein Corp., Koninklijke DSM N.V., GC Rieber Oils |
| DRIVERS | • Increasing awareness of health benefit • Advancement in technologies |
| Restraints | • Unpleasant sensory experience. • High temperatures • Quality effects |
Ans: The Omega-3 Fatty Acid Market size was valued at US$ 2.35 billion in 2022.
Ans: The Omega-3 Fatty Acid Market size is to grow at a CAGR of 7.4% over the forecast period 2023-2030.
North America was the largest regional market.
Five steps are followed while doing the research process. The first is secondary research, the second is primary research, the third is data bank validation, the fourth QA/QC process, and the fifth final QC/QA process.
Yes, data validation process is followed in this report.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Omega-3 Fatty Acid Market Segmentation, by Source
8.1 Marine
8.2 Vegetable oils
8.3 Soya and Soya Products
8.4 Nuts and Seeds
9. Omega-3 Fatty Acid Market Segmentation, by Type
9.1 ALA (alpha-linolenic acid)
9.2 EPA (eicosapentaenoic acid)
9.3 DHA (docosahexaenoic acid)
10. Omega-3 Fatty Acid Market Segmentation, By Application
10.1 Dietary Supplement
10.2 Food & Beverage
10.3 Fish Feed
10.4 Pharmaceutical
10.5 Infant Formula
10.6 Pet Food
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12. Company Profiles
12.1 Orkla Health
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 BASF SE
12.3 Aker Biomarine Antarctic AS
12.4 EPAX
12.5 BioProcess Algae, LLC
12.6 Lonza, Croda International Plc
12.7 Omega Protein Corp
12.8 Koninklijke DSM N.V
12.9 GC Rieber Oils
13. Competitive Landscape
13.1 Competitive Benchmark
13.2 Market Share Analysis
13.3 Recent Developments
14. Conclusion
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