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 Forecast to 2029
The global market for omega-3 is estimated at USD 7.5 billion in 2024 and is projected to reach USD 14.1 billion by 2029, at a CAGR of 13.4% during the forecast period. Ongoing research and development endeavors focused on uncovering new health benefits and applications of Omega-3 fatty acids are driving innovation and expanding the market potential for Omega-3 products. Additionally, continuous advancements in Omega-3 product formulations and delivery methods, such as microencapsulation and nanoemulsions, are improving the bioavailability, taste, and stability of Omega-3 supplements, thus attracting a wider consumer base. Furthermore, with a growing aging population worldwide, there is a heightened emphasis on healthy aging and preventive healthcare, which is fueling demand for Omega-3 supplements recognized for their potential advantages in maintaining cognitive function and joint health. Collectively, these factors contribute to the ongoing growth of the Omega-3 market.
Scope of the Report
Years Considered for the Study
2024-2029
Base Year
2023
Forecast Period
2024-2029
Units Considered
Value (USD)
Segments
By Type, Source, Application, and Region
Regions covered
North America, Europe, South America, Asia Pacific, and RoW
"Increase in focus on preventive healthcare and innovative production technologies fuel demand for omega-3 market."
As healthcare systems increasingly emphasize preventive measures to tackle the burden of chronic diseases, there's a rising recognition of the importance of Omega-3 supplements. These supplements have garnered attention for their potential to support heart health, cognitive function, and joint health. With ongoing advancements in diagnostics and personalized medicine, early detection of health risks is becoming more feasible, allowing for targeted interventions that include Omega-3 supplementation. This convergence of preventive healthcare strategies and personalized interventions is expected to fuel the growth of the Omega-3 market as individuals seek proactive approaches to manage their health and well-being.
Innovative production technologies play a vital role in the Omega-3 market by streamlining manufacturing processes, enhancing efficiency, and boosting productivity. This enables Omega-3 manufacturers to effectively address increasing consumer demand while optimizing resource utilization and lowering production costs. Moreover, these advanced methods ensure consistent quality and purity, meeting rigorous regulatory standards and consumer expectations. As a result, consumers develop trust in the reliability of Omega-3 products, leading to repeat purchases and brand loyalty. Overall, these technological advancements drive market growth by improving efficiency, quality, diversity of products, bioavailability, and sustainability. By adapting to evolving consumer demands and leveraging emerging opportunities in the health and wellness sector, manufacturers can expand their market presence and meet the needs of a broader consumer base.
"In 2023, EPA stood as the second-largest segment within the by type of omega-3 market. "
The Omega-3 market is witnessing an increasing demand for EPA (Eicosapentaenoic Acid) owing to its well-established health advantages, notably in cardiovascular health and inflammation management. As the EPA segment claims the second-largest portion of the Omega-3 market, its rising prominence emphasizes its significance in fulfilling consumer preferences for tailored health solutions. With a growing consumer inclination towards products offering specific health benefits, EPA-rich Omega-3 supplements are gaining momentum for their potential to enhance overall well-being and address diverse health needs.
"Within the source segment, plant source is expected to grow during the forecast period constantly."
The depletion of fish stocks and the environmental repercussions of fish oil extraction are prompting consumers to seek more sustainable alternatives. Plant-based sources like algae, chia seeds, and flaxseeds offer environmentally friendly options for obtaining Omega-3 fatty acids. A growing number of individuals are embracing vegan or vegetarian lifestyles, and plant-derived Omega-3s align with their dietary preferences and ethical considerations regarding animal products. Manufacturers are continuously innovating within this sector, creating more potent and easily absorbable plant-based Omega-3 products. Examples include oils derived from microalgae and chia seed extracts encapsulated for enhanced efficacy. Investors are acknowledging the potential of this market segment, leading to heightened research and development efforts, which in turn propel further growth.
"The omega-3 market in Europe is anticipated to maintain consistent growth throughout the forecast period."
Europe's aging population, prone to age-related health issues such as cardiovascular disease and cognitive decline, is increasingly turning to Omega-3 fatty acids for potential health benefits. Regulatory bodies like the European Food Safety Authority (EFSA) have validated health claims associated with Omega-3 fatty acids, bolstering consumer confidence and facilitating marketing efforts for Omega-3 enriched products. For instance, according to the European Union (2020), the median age in the EU-27 is projected to rise by 4.5 years between 2019 and 2050, reaching 48.2 years.
The Break-up of Primaries:
By Company Type: Tier 1 - 30%, Tier 2 - 45%, Tier 3 - 25%
By Region: North America - 25%, Europe - 25%, APAC - 30%, South America - 10%, and RoW - 10%
Key players in this market include BASF SE (Germany), Cargill, Incorporated (US), DSM-Firmenich (Netherlands), Croda International Plc (UK), Orkla (Norway), Corbion (Netherlands), Pelagia AS (US), KD Pharma Group SA (Switzerland), GC Rieber (Norway), Cooke Aquaculture (Canada), AlgiSys Biosciences, Inc. (US), Golden Omega (Chile), Polaris (France), Nordic Naturals (US), and Now Foods (US).
Research Coverage:
The report segments the omega-3 market based on type, source, application, and region. In terms of insights, this report has focused on various levels of analyses-the competitive landscape, end-use analysis, and company profiles, which together comprise and discuss views on the emerging & high-growth segments of the omega-3 market, high-growth regions, countries, government initiatives, drivers, restraints, opportunities, and challenges. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, services, key strategies, contracts, partnerships, and agreements. New product launches, mergers and acquisitions, and recent developments associated with the omega-3 market. Competitive analysis of upcoming startups in the omega-3 market ecosystem is covered in this report.
Reasons to buy this report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall omega-3 market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities. The report provides insights on the following pointers:
Analysis of key drivers (Increase in application profiling and existing applications finding new markets, innovative production technologies, and consumer awareness regarding the health benefits of omega-3), restraints (lower fish oil supply due to sustainability issues among fisheries, and lack of clarity among consumers about daily recommended intake) opportunities (microencapsulation, awareness about certified food ingredients, research for development of alternative sources to obtain omega-3), and challenges (high cost involved in R&D activities, and highly unstable fish oil prices).
Product Development/Innovation: Detailed insights on research & development activities, and new product launches in the omega-3 market.
Market Development: Comprehensive information about lucrative markets - the report analyses the omega-3 market across varied regions.
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the omega-3 market.
Competitive Assessment: In-depth assessment of market shares, growth strategies, and product offerings of leading players like BASF SE (Germany), Cargill, Incorporated (US), DSM-Firmenich (Netherlands), Croda International Plc (UK), Orkla (Norway), Corbion (Netherlands), Pelagia AS (US), KD Pharma Group SA (Switzerland), GC Rieber (Norway), Cooke Aquaculture (Canada), AlgiSys Biosciences, Inc. (US), Golden Omega (Chile), Polaris (France), Nordic Naturals (US), Now Foods (US), BTSA (Spain), Farbest Brands (US), KinOmega Biopharm Inc (China), Pharma Marine AS (Norway), Rimfrost AS (Norway), Algarithm (Canada), Solutex (Spain), Cellana Inc (US), Nature's Way Brands (US), and AlgaeCytes UK) among others in the omega-3 market.
TABLE OF CONTENTS
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 STUDY SCOPE
1.3.1 MARKET SEGMENTATION
1.3.2 INCLUSIONS AND EXCLUSIONS
1.3.3 REGIONAL SCOPE
1.4 YEARS CONSIDERED
1.5 UNITS CONSIDERED
1.5.1 CURRENCY CONSIDERED
TABLE 1 USD EXCHANGE RATES CONSIDERED, 2018-2023
1.5.2 VOLUME UNIT
1.6 STAKEHOLDERS
1.7 SUMMARY OF CHANGES
1.7.1 RECESSION IMPACT
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
FIGURE 1 OMEGA-3 MARKET: RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.1.1 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Key industry insights
2.1.2.2 List of key participants in primary interviews
2.1.2.3 Breakdown of primary interviews
2.2 MARKET SIZE ESTIMATION
2.2.1 BOTTOM-UP APPROACH
FIGURE 2 OMEGA-3 MARKET: DEMAND-SIDE CALCULATION
2.2.2 TOP-DOWN APPROACH
2.2.2.1 Approach to estimate market size using top-down analysis
FIGURE 3 OMEGA-3 MARKET: SUPPLY-SIDE CALCULATION
FIGURE 4 OMEGA-3 MARKET: SUPPLY SIDE
2.3 DATA TRIANGULATION
FIGURE 5 DATA TRIANGULATION
2.4 RESEARCH ASSUMPTIONS
2.5 LIMITATIONS AND RISK ASSESSMENT
2.6 RECESSION IMPACT ANALYSIS
2.6.1 RECESSION MACROINDICATORS
FIGURE 6 INDICATORS OF RECESSION
FIGURE 7 GLOBAL INFLATION RATE, 2011-2022
FIGURE 8 GLOBAL GDP, 2011-2022 (USD TRILLION)
FIGURE 9 RECESSION INDICATORS AND THEIR IMPACT ON OMEGA-3 MARKET
FIGURE 10 OMEGA-3 MARKET: EARLIER FORECAST VS. RECESSION FORECAST
3 EXECUTIVE SUMMARY
TABLE 2 OMEGA-3 MARKET SNAPSHOT, 2024 VS. 2029
FIGURE 11 OMEGA-3 MARKET, BY TYPE, 2024 VS. 2029 (USD MILLION)
FIGURE 12 OMEGA-3 MARKET, BY APPLICATION, 2024 VS. 2029 (USD MILLION)
FIGURE 13 OMEGA-3 MARKET, BY SOURCE, 2024 VS. 2029 (USD MILLION)
FIGURE 14 OMEGA-3 MARKET: REGIONAL SHARE, 2023
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN OMEGA-3 MARKET
FIGURE 15 RISING CHRONIC DISEASES TO DRIVE MARKET GROWTH
4.2 OMEGA-3 MARKET IN ASIA PACIFIC, BY TYPE AND KEY COUNTRIES
FIGURE 16 DOCOSAHEXAENOIC ACID SEGMENT AND CHINA ACCOUNTED FOR LARGEST MARKET SHARES OF ASIA PACIFIC MARKET IN 2023
4.3 OMEGA-3 MARKET, BY APPLICATION
FIGURE 17 DIETARY SUPPLEMENT SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD
4.4 OMEGA-3 MARKET, BY TYPE
FIGURE 18 DOCOSAHEXAENOIC ACID SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE FROM 2024 TO 2029
4.5 OMEGA-3 MARKET, BY SOURCE
FIGURE 19 MARINE SEGMENT TO CLAIM LARGER MARKET SHARE DURING FORECAST PERIOD
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MACROECONOMIC INDICATORS
5.2.1 PREVENTIVE HEALTHCARE EXPENDITURE
FIGURE 20 PREVENTIVE HEALTHCARE EXPENDITURE AS PERCENTAGE OF GDP, BY COUNTRY, 2020
5.2.2 GROWING GERIATRIC POPULATION
FIGURE 21 POPULATION AGED 65 AND ABOVE (% OF TOTAL POPULATION), 2012-2022
5.3 MARKET DYNAMICS
FIGURE 22 MARKET DYNAMICS: OMEGA-3 MARKET
5.3.1 DRIVERS
5.3.1.1 Growing consumer awareness regarding health benefits of omega-3
TABLE 3 HEALTH BENEFITS ASSOCIATED WITH OMEGA-3 CONSUMPTION
5.3.1.2 Increasing use of omega-3 fatty acids in food and feed products
5.3.1.2.1 Rising demand for mother & infant nutrition products
TABLE 4 INFANT FORMULA CONSTITUENTS OF KEY BRANDS (PER 100 GM)
5.3.1.2.2 Growth focus of food processing companies on fortification
5.3.1.2.3 Increasing applications in pet food and feed
FIGURE 23 RECOMMENDED EPA LEVELS IN DOG FOOD (MG)
5.3.1.3 Growing adoption of innovative production technologies
5.3.2 RESTRAINTS
5.3.2.1 Lower fish oil supply due to sustainability issues among fisheries
5.3.2.2 Lack of clarity among consumers about daily recommended intake and health claims
TABLE 5 EPA AND DHA DAILY INTAKE GUIDELINES BY VARIOUS ORGANIZATIONS
5.3.3 OPPORTUNITIES
5.3.3.1 Increasing research for development of alternative sources to obtain omega-3
TABLE 6 UPCOMING ALTERNATIVE SOURCES FOR OMEGA-3 FATTY ACIDS
5.3.3.1.1 Rising consumer demand for plant-based products
5.3.3.1.1.1 Growing focus on microalgae-based omega-3 production
FIGURE 24 MICROALGAE PROCESSING FOR OMEGA-3
5.3.3.1.1.2 Side-effects and allergies related to fish-based products
5.3.3.2 Favorable regulatory environment
5.3.3.3 Application of microencapsulation technology to regulate release of nutrients in fortified food & beverages
5.3.4 CHALLENGES
5.3.4.1 High costs involved in R&D activities
5.3.4.2 Highly unstable fish oil prices
5.3.4.3 Instability of omega-3 oils
5.4 INVESTMENT AND FUNDING SCENARIO
FIGURE 25 OMEGA-3 MARKET: INVESTOR DEALS AND FUNDING
6 INDUSTRY TRENDS
6.1 INTRODUCTION
6.2 VALUE CHAIN ANALYSIS
6.2.1 RESEARCH & PRODUCT DEVELOPMENT
6.2.2 MANUFACTURING
6.2.3 MARKETING & SALES
6.2.4 DISTRIBUTION
6.2.5 POST-SALES SERVICES
FIGURE 26 OMEGA-3 MARKET: VALUE CHAIN ANALYSIS
6.3 TECHNOLOGY ANALYSIS
6.3.1 MOLECULAR DISTILLATION
6.3.2 ALGAE FERMENTATION
6.4 PATENT ANALYSIS
FIGURE 27 KEY PATENTS GRANTED IN OMEGA-3 MARKET, 2014-2024
FIGURE 28 REGIONAL ANALYSIS OF PATENTS GRANTED IN OMEGA-3 MARKET, 2014-2024
6.4.1 LIST OF MAJOR PATENTS PERTAINING TO OMEGA-3 MARKET (2014-2023)
6.5 ECOSYSTEM ANALYSIS
6.5.1 DEMAND SIDE
6.5.2 SUPPLY SIDE
TABLE 7 ROLE OF PARTICIPANTS IN ECOSYSTEM
FIGURE 29 OMEGA-3 MARKET: ECOSYSTEM ANALYSIS
6.6 TRADE ANALYSIS
6.6.1 EXPORT DATA
TABLE 8 EXPORT VALUE OF OMEGA-3, BY KEY COUNTRY, 2022 (USD MILLION)
6.6.2 IMPORT DATA
TABLE 9 IMPORT VALUE OF OMEGA-3, BY KEY COUNTRY, 2022 (USD MILLION)
6.7 PRICING ANALYSIS
6.7.1 AVERAGE SELLING PRICE TREND OF PRODUCTS OFFERED BY KEY PLAYERS, BY SOURCE
TABLE 10 OMEGA-3 MARKET: AVERAGE SELLING PRICE (ASP) TREND OF PRODUCTS OFFERED BY KEY PLAYERS, BY SOURCE, 2023 (USD/KG)
6.7.2 AVERAGE SELLING PRICE TREND OF OMEGA-3, BY SOURCE
TABLE 11 OMEGA-3 MARKET: AVERAGE SELLING PRICE (ASP) TREND OF OMEGA-3, BY SOURCE, 2019-2023 (USD/KG)
6.7.3 AVERAGE SELLING PRICE TREND OF MARINE SOURCES, BY REGION
TABLE 12 OMEGA-3 MARKET: AVERAGE SELLING PRICE (ASP) TREND OF MARINE SOURCES, BY REGION, 2019-2023 (USD/KG)
6.7.4 AVERAGE SELLING PRICE TREND OF PLANT SOURCES, BY REGION
TABLE 13 OMEGA-3 MARKET: AVERAGE SELLING PRICE (ASP) TREND OF PLANT SOURCES, BY REGION, 2019-2023 (USD/KG)
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.
13 ADJACENT AND RELATED MARKETS
13.1 INTRODUCTION
TABLE 384 ADJACENT MARKETS
13.2 LIMITATIONS
13.3 COLLAGEN MARKET
13.3.1 MARKET DEFINITION
13.3.2 MARKET OVERVIEW
TABLE 385 COLLAGEN MARKET, BY FORM, 2019-2022 (USD MILLION)
TABLE 386 COLLAGEN MARKET, BY FORM, 2023-2030 (USD MILLION)
13.4 ALGAE PRODUCTS MARKET
13.4.1 MARKET DEFINITION
13.4.2 MARKET OVERVIEW
TABLE 387 ALGAE PRODUCTS MARKET, BY SOURCE, 2018-2022 (USD MILLION)
TABLE 388 ALGAE PRODUCTS MARKET, BY SOURCE, 2023-2028 (USD MILLION)