Omega-3 Market by Type (DHA, EPA, and ALA), Application (Dietary Supplements, Functional Foods & Beverages, Pharmaceuticals, Infant Formula, and Pet Food & Feed), Source (Marine and Plant), and Region - Global Forecasts to 2025
Northbrook, IL 60062 -- (SBWIRE) -- 11/24/2023 -- The omega-3 market witnessed substantial growth, reaching a value of USD 4.1 billion in 2019, and is anticipated to expand at a CAGR of 13.1% to reach USD 8.5 billion by 2025. This growth is attributed to increasing consumer awareness of the health benefits associated with omega-3, coupled with the exploration of new markets and applications.
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Dietary Supplements Leading the Way:
During the forecast period, the dietary supplements segment is expected to dominate the omega-3 market. Despite natural sources of omega-3 in various food products, consumers are turning to supplements for a more regulated and convenient intake. Capsules offer an easy way to ensure the daily recommended amount of omega-3 is met, contributing to the segment's projected market dominance.
Marine Sources Taking Center Stage:
The marine source of omega-3, found in oily fish like salmon and tuna, is projected to hold the largest market share. The high content of EPA and DHA in these marine sources has driven manufacturers to meet the growing demand for these essential fatty acids. Marine-based omega-3 products are preferred due to their abundance of EPA and DHA, which are not as readily available in plant-based sources.
DHA Leading the Omega-3 Market:
Within the omega-3 market, docosahexaenoic acid (DHA) is expected to maintain its leading position. DHA's cognitive benefits have garnered significant consumer attention, especially for infant brain development and the normal functioning of adult brains. Its popularity makes DHA a favored type of omega-3 in the market.
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North America at the Forefront:
North America, with the United States as a major contributor, accounted for the largest market share in 2018. The preference for fish oil-sourced omega-3 capsules as dietary supplements is a key factor driving the market in this region. The presence of major players like Cargill, DSM, and others, using innovative technologies to meet consumer demands, has further boosted the market. Additionally, omega-3 deficiency in the US and Canada has contributed to the rising demand for omega-3 products.
Key Market Players:
Prominent players in the omega-3 market include Cargill, BASF, DSM, Orkla Health, Croda International, Lonza, KD Pharma, Corbion, GC Rieber, Epax, Runke Bioengineering, Nordic Naturals, Golden Omega, Kinomega, Sinomega, Polaris, Pharma Marine, Huatai Biopharm, Algisys, and Biosearch Life. These market players are actively employing innovative technologies to enhance productivity and meet the increasing demand for value-added omega-3 products.
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Mr. Aashish Mehra
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Northbrook, IL 60062