Omega 3 Market Size is Expected to Reach USD 3.82 billion during the Forecast Period 2020 - 2028

 Omega 3 Industry Overview

The global omega 3 market size was valued at USD 2.10 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 7.8% from 2020 to 2028.

Major factors responsible for increased product consumption include rising occurrences of Cardiovascular Diseases (CVDs) and changing dietary habits. The rising importance of immunity development post-COVID-19 pandemic has further strengthened the driving force for the market. The rising inclusion of omega 3 ingredients in the diet to support heart and brain health is expected to boost product demand. A sedentary lifestyle, work-from-home trend, and lack of physical activity, particularly between the age group of 30 and 40 years are expected to result in rising product demand. In addition, increasing consumer investment in healthcare and wellbeing is likely to fuel the growth of the market.

Rising cases of obesity and heart-related issues in the U.S. are expected to increase the demand for DHA. As per the American Medical Association, heart disease was the leading cause of death in the U.S. in 2020, accounting for 690,882 deaths. The U.S. FDA has approved omega-3 supplements for the treatment of adults for diseases such as severe hypertriglyceridemia. Epanova and Omtryg containing DHA/EPA that are considered as adjuncts to diet are also approved by the U.S. FDA.

Gather more insights about the market drivers, restrains and growth of the Global Omega 3 Market

An increasing number of omega 3-based pharmaceutical product launches by market players, due to the rising product application scope in medicines, is expected to augment market growth. For instance, in November 2019, BASF Nutrition and Health along with Ideogen developed an omega 3 product that addresses Non-Alcoholic Fatty Liver Disease (NAFLD), a chronic condition.

Manufacturers are actively adopting advanced manufacturing technologies. Manufacturers are focusing on the efficient removal of environmental pollutants from fish oil, minimizing oxidation in its manufacturing process, and concentrating the omega 3 content in the final product to assure optimal delivery of the healthy parameters of fish oil. For instance, Smartfish has introduced manufacturing techniques that prevent the oxidation of oil and provide high-temperature resistance.

 

Krill oil is one of the potential sources of omega 3 and is being increasingly used owing to its superior properties, such as higher solubility in water and rapid absorption in the human body after consumption compared to traditional fish oil. Players are focusing on sourcing from krill oil using efficient techniques. For instance, Enzymotec manufactures K•REAL krill oil through Multi-Stage Oil (MSO) extraction technology, wherein K•REAL is clinically proven to be more efficient than fish oil that increases omega 3 levels in human blood.

 

One of the major challenges faced by conventional omega 3 ingredient manufacturers is to offer products at a competitive price range. This is more relevant for the companies that offer omega 3 ingredients from alternative sources, such as algae and krill oils.

Browse through Grand View Research's Nutraceuticals & Functional Foods Industry Research Reports.

  • Lactoferrin Market: The global lactoferrin market size was valued at USD 219.2 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 8.2% from 2021 to 2028. Lactoferrin is believed to have antiviral, antibacterial, antiparasitic, catalytic, and anti-allergic functions and properties, which is anticipated to drive the product demand from the pharmaceutical and personal care industries.
  • Probiotics Market: The global probiotics market size was valued at USD 58.17 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.5% from 2021 to 2030. Probiotics play a great role in preventive healthcare as they prevent the occurrence of diseases by strengthening the immune system.

Omega 3 Market Segmentation

Grand View Research has segmented the global omega 3 market on the basis of type, source, application, and region:

  • Omega 3 Type Outlook (Volume, Tons, Revenue, USD Million, 2017 - 2028)
    • Docosahexaenoic acid (DHA)
    • Eicosapentaenoic acid (EPA)
    • Alpha-linolenic acid (ALA)
  • Omega 3 Source Outlook (Volume, Tons, Revenue, USD Million, 2017 - 2028)
    • Marine Source
    • Plant Source
  • Omega 3 Application Outlook (Volume, Tons, Revenue, USD Million, 2017 - 2028)
    • Supplements & Functional Foods
    • Pharmaceuticals
    • Infant Formula
    • Animal Feed & Pet Food
    • Others
  • Omega 3 Regional Outlook (Volume, Tons, Revenue, USD Million, 2017 - 2028)
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa (MEA)

Market Share Insights

  • October 2018: Cargill launched ‘Latitude’, a plant-based sustainable alternative source of Omega 3 for fish feed application.

 

Key Companies profiled:

Some prominent players in the global omega 3 market include:

  • Aker Biomarine Antarctic AS
  • Orkla Health
  • BASF SE
  • Omega Protein Corp.
  • GC Reiber Oils
  • Lonza
  • Croda International Plc
  • EPAX
  • BioProcess Algae, LLC
  • Koninklijke DSM N.V.


Order a free sample PDF of the Omega 3 Market Intelligence Study, published by Grand View Research.


About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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