According to study published in the Nature Food Journal in November 2020, the supply, and demand gap for Omega-3 fatty acids remains substantial, nearly twice as previous estimates. The rising demand for healthy substitutes to cater to growing health-conscious population remains a key driver of growth in the omega-3 market. The supply chain also promises to stabilize in near future, as opportunities in the increasing use of by-products from fisheries, and promising initiatives to reduce food waste remains a growth factor in the Omega-3 market.
Omega-3 acids remain at the forefront of rising awareness about heart disease, and promise a healthy opportunity for reducing its risk. According to the American Heart Association, the Omega 3 reduces risk for heart diseases, and strokes, two deadly diseases plaguing the global population. According to the World Health Organization, cardiovascular diseases consisting of heart disease remain the number 1 cause of deaths worldwide.
The WHO estimates that these diseases on the rise, kill nearly 18 million people each year globally. Moreover, 4 out 5 cardiovascular deaths are caused due to heart disease, and strokes. Furthermore, one-third of deaths are premature deaths as they occur in people below the age of 70. The growing awareness about heart disease, growing demand for omega-3, and large preventive potential of the fatty acids remain a major potential for growth for players in the omega 3 market.
According to a recent study published in the National Library of Medicine, growing number of researchers, health care professionals, and professional organization recommend a daily dose of 500 gm of EPA/DHA to patients. This high dosage will likely translate to over 1.3 million metric tons. However, the current human consumption amount to only a small fraction of the total demand, and results in mediocre health conditions for many patients.
However, despite growing demand for fish, the fishing at seas has reached a plateau. This has led to tremendous growth of aquaculture, and rising fish oil supply to support aquaculture. Hence, there is a growing demand to find ideal substitutes for rising demand for Omega-3 fatty acids in the market.
Omega 3 Market Value Share Analysis, by Geography (2022)
The report titled “Omega 3 Market - Global Market Share, Trends, Analysis and Forecasts, 2023-2032” wherein 2021 is historic period, 2022 is the base year, and 2023 to 2032 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global Omega 3 Market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market.
The global Omega 3 Market is segmented on the basis of Type, Application, Source, and geography. Based on Type is segmented into Docosahexaenoic acid (DHA), Eicosapentaenoic acid (EPA), Alpha-linolenic acid (ALA). Based on Application is segmented into Dietary supplements, Functional food & beverages, Pharmaceuticals, Infant formula, Pet food & feed. Based on Source is segmented into Marine source (Fish Oil, Algal Oil, Krill Oil, Others), Plant source (Nuts & Seeds, Vegetable Oils, Soy). Based on geography is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is sub-segmented into the United States, Canada and Rest of North America. Europe is sub-segmented into Germany, United Kingdom, Belgium, Spain, and Rest of Europe. Asia Pacific is sub-segmented into China, Japan, India, Australia, and Rest of Asia Pacific. Middle East & Africa is sub-segmented into Saudi Arabia, the UAE, and Rest of Middle East & Africa. South America is sub-segmented into Brazil and Rest of South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment and would identify the segment of the company focusing on Omega 3 Market. Further, market share of prominent companies in the global Omega 3 Market would also be estimated.
The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, swot analysis, and research and development focus of all the Omega 3 companies. The global Omega 3 Market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution.
Product portfolio would focus on all the products under the Omega 3 business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global Omega 3 Market.
Major players active in the global Omega 3 Market include Aker BioMarine, Axellus, BASF SE, DSM, Omega Protein Corporation, GC Reiber Oils, and Lonza.
The omega-3 market report is segmented as below:
By Type
By Application
By Source
By Region
The growing awareness about heart disease, growing demand for omega-3, and large preventive potential of the fatty acids remain a major potential for growth for players in the omega 3 market.
Aker BioMarine, Axellus, BASF SE, DSM and Omega Protein Corporation are the top 5 omega-3 manufacturers.
Based on applications, the omega-3 market is segmented into Dietary supplements, Functional food & beverages, Pharmaceuticals, Infant formula, Pet food & feed.
The base year considered in omega-3 market report is 2021.
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