Omega 3 Market Size to Worth Around USD 17.6 Billion by 2030

The global omega 3 market size is expected to be worth around USD 17.6 billion by 2030 from valued at USD 9.02 billion in 2022 and growing at a registered CAGR of 8.71% from 2022 to 2030.

/EIN News/ -- Ottawa, Nov. 17, 2022 (GLOBE NEWSWIRE) -- Precedence Research, recently announced report on “Omega 3 Market - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022-2030”.

Regional Snapshots:

Due to the movement in customer inclination forward towards a nutritious diet that includes omega-3 components, APAC earned the highest revenue in 2021. Eicosapentaenoic acid (EPA) as well as DHA oils have their third-largest market outside of the United States in China. In China, fortified foods and fish supplements are the main sources of omega-3 for consumers. Over the years, Japan has granted a few foods for specific healthcare uses claims to omega-3 fatty acids.

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However, several numbers of Japan businesses have been successful in applying for new medical benefit claims for such fatty acids thanks to the new legislation in Japan. If the industry is becoming more active in substantiating such claims, it also means that there is a major change to improve the omega-3 supplement environment in the area.

Key Takeaways:

• The North America market was valued for 38.2% revenue share in 2021.
• By application, the supplement and functional foods segment has held market share of 52.6% in 2021. However, the infant formula segment is poised to grow at a fastest CAGR from 2022 to 2030.
• By source, the marine source segment has captured for 83.4% revenue share in 2021. 
• By type, docosahexaenoic acid (DHA) has held for 63% revenue share in 2021.

Report highlights:

• A significant trend in the omega-3 industry is customers becoming more aware of health products. The acceptance of health and beauty goods as expansions of the foods that consumers eat is growing among consumers.
• Around the world, a new spectrum of nutritional items is emerging, ranging from functional and fortified foods to dietary supplements. This continuum includes dog food and grooming supplies for pet owners, basically mirroring the selection of goods for humans.
• Over the past five years, the market has seen a tremendous rise in the usage of omega-3 supplements due to mounting evidence that they can reduce cognitive decline and prevent heart diseases, anxiety, rheumatoid, and asthmatic.
• Omega-3 fatty acids must be received from the diet as they are necessary and cannot be produced by the human body. This is influencing market expansion all across the world. Additionally, pregnant women and moms who are nursing prefer utilizing these supplements because docosahexaenoic acid (DHA) was extremely significant throughout pregnancy and the first few years of a baby's life.
• Furthermore, DHA continues to be essential for a newborn's brain development. All of these elements contribute to the global market for omega-3 products expanding.
  
  

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Scope of the Report

Report Attributes	Details
Market Size in 2022	USD 9.02 Billion
Revenue Forecast by 2030	USD 17.6 Billion
CAGR	8.71% from 2022 to 2030
Base Year	2021
Forecast Year	2022 to 2030
Key Players	Adisseo, ADM, ALGISYS LLC, BASF SE, Biosearch Life, Church & Dwight, Inc., BTSA Biotechnologias Aplicadas S.L., Copeinca AS, Corpesca S.A., DSM, Epion Brands, Farbest Brands, FF Skagen A/S, FMC Corporation, Colpex International, Golden Omega, Huatai Biopharm, Kinomega Biopharm Inc., Lonza Group, Marvesa Holding N.V., Glanbia Plc, Nordic Naturals, NOW Foods, Omega Protein Corporation.

Market dynamics:

Drivers:

The threat of arrhythmia, or heart problems, which could cause the patient to pass away suddenly, is lessened by omega-3 fatty acids. Furthermore, it aids in lowering cholesterol levels, heart rate, as well as the rate during which arterial wall expands. Customers are increasingly choosing healthy alternatives, even though they view preventive services as a critical tool for assisting them in leading health behaviors. Omega 3s are subsequently becoming more and more well-liked because they are great vitamins, sources of proteins, and minerals and can help with the treatment of diseases including cancer, asthma, and depression.

Restraints:

The market's expansion is, however, constrained by unequal fish catch and increased demand for salmon from those other usage sources. Fish are becoming more harmful to consume as a result of rising levels of environmental metals, and hazardous contaminants, which is anticipated to restrain the segment's expansion. The company's supply of raw materials is also anticipated to be impacted by tighter controls on fishing to conserve species of fish.

Opportunities:

Increased customer fitness and health initiatives, in addition to the, expanded use of omega-3 fatty acids in food for animals and pharmaceuticals, are all contributing to the market's growth. The growing public awareness of the health benefits of omega-3 is driving the desire for market actors to innovate.

On the other hand, the technique disperses strong oils in segments and sub-composition to enhance surface adsorption. OmegaZero® Nanotechnology significantly reduces the surface area of foul-smelling oil in contact with air by assisting odoriferous oil to emulsion inside the stomach as opposed to producing a coating on the exterior of gastric acid.

Challenges:

Omega-3 is produced using pricey, very unstable fish as well as other sea oils. This factor is making it harder for the omega-3 fatty acid business to grow. The fluctuating price of raw materials is hurting the omega-3 industry. The sharp rise in these basic resource prices is just a consequence of the rising farming expenses. Feed is an essential component of aquaculture, yet keeping feed costs stable is expensive. Imported or purchased fish is becoming much more expensive. The company's expansion is being further constrained by rising labor, energy, and power costs as well as restrictions on open seas fisheries. Thus, the rising price of raw materials is impeding the expansion of the industry.

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Recent Developments:

• Croda International Plc and Genesis Biosciences established a global marketing and sales cooperation in January 2021. A specialized chemical company called Croda Worldwide Plc uses cutting-edge research to create elevated chemicals & services that improve lives. With the help of this new partnership, Croda was able to expand its portfolio of safe and secure cleansing raw resources.
• Moderna and Lonza formed cooperation in June 2021 for the Dutch active pharmaceutical ingredient (API manufacturing of Moderna's COVID-19 vaccine. An additional 300 million doses per year could be produced at Lonza's factory in Geleen, Netherlands, using a new medication ingredient assembly line that will complement the existing system.
• Lonza will keep collaborating with a big pharmaceutical collaborator to supply manufactured monoclonal on a wide scale starting in July 2021. The addition to taking into account the creation of an antibody-drug combo for use in the therapy of difficult-to-treat cancers will be completed by a long-term collaboration for the massive shipments of monoclonal.
• On Apr 20, 2021, The KD Pharmaceuticals Group acquired the manufacturing tools from a Swiss-based marijuana producer. Thanks to the acquisitions, KD Pharma has now technology available for producing Pharmaceutical Active Ingredients that depend on phytocannabinoids in addition to other botanical extracts.
• Orkla Health acquired NutraQ in June 2021, but this action will open up intriguing new business opportunities for Orkla. The health sector and direct-to-consumer sales are growing industries that will continue to improve NutraQ's core concepts while also exploring new prospects for such sales.
• In Aug 2021, Corbion announced that it had acquired Granolife, a Mexican company based in Queretaro that provides functional mixes to the country's baking and fortifying industries. About 60 employees work for Granolife at its manufacturing facility as well as applications inside the training facility.

Market Segmentation

By Type

• Docosahexaenoic acid (DHA)
• Eicosapentaenoic acid (EPA)
• Alpha-linolenic acid (ALA)
  
  

By Source

• Marine Source
  • Fish Oil
  • Algal Oil
  • Krill Oil
  • Others
• Plant Source
  • Nuts & Seeds
  • Vegetable Oils
  • Soy
    
    

By End-Use  

• Nutraceuticals & Supplements
• Food & Beverages
• Pharmaceuticals
• Personal Care
• Infant Formulas
• Fish Feed
• Others
  
  

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)
  
  

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