(Food-Beverage-News.Com, June 11, 2021 ) The global omega-3 market size is estimated to be valued at USD 4.1 billion in 2019 and is projected to be worth USD 8.5 billion by 2025, recording a CAGR of 13.1% during the forecast period. The growing demand for food fortification, increase in application profiling, and innovative product technologies shall drive the growth of the global omega-3 market over the next few years. Due to the increasing trend of mother and infant nutrition products, consumption of omega-3 fatty acids improve the performance. The omega-3 market is projected to record significant growth during the forecast period. In addition, due to the rise in health awareness among consumers, omega-3-based dietary supplement products are projected to witness high demand in the market.
The key players in this market include Cargill (US), BASF (Germany), DSM (Netherlands), Croda International (UK), and Epax (Norway). New product and technology launches, expansions & investments, agreements, and partnerships were some of the core strengths of the leading players in the omega-3 market. These strategies were adopted by the key players to increase their market presence. It also helped them diversify their businesses geographically, strengthen their distribution networks, and enhance their product portfolios. Some of the other players in the omega-3 market include Lonza (Switzerland), Orkla Health (Norway), Corbion (Netherlands), KD Pharma (Germany), GC Rieber (Norway), Guangdong Runke Bioengineering (China), Nordic Naturals (US), Golden Omega (Chile), Biosearch Life (Spain), Pharma Marine (Norway), Polaris (France), Sinomega (China), Kinomega (China), and Huatai Biopharm (China).
By application, the dietary supplements segment is projected to dominate the omega-3 market during the forecast period
The dietary supplements segment is projected to account for the largest share in the market during the forecast period. Though there are many food products that are naturally rich in omega-3, since the amount of omega-3 in such products is not enough, consumers these days have started consuming capsules for omega-3. By consuming such supplements, a sufficient amount of omega-3 can be consumed and regulated. Also, they are easy to consume so as to ensure the requisite amount of daily intake is met.
The marine source is projected to dominate the omega-3 market during the forecast period.
The marine source of omega-3 fatty acids is estimated to account for the largest share because of the large EPA and DHA content in most oily fish such as salmon and tuna. Most manufacturers are also producing marine-based omega-3 to meet the growing demand for EPA and DHA, which are not abundantly present in other plant-based sources.
By type, docosahexaenoic acid (DHA) accounted for the largest market size in the omega-3 market during the forecast period
Docosahexaenoic acid (DHA) held the largest share in the omega-3 market in 2018. This is due to increased cognitive functionalities of omega-3 that are gaining consumer attention. DHA plays a vital role in the growth and development of the infant brain and also for the normal functioning of adult brains. Due to these factors, it is amongst the most favoured types of omega-3.
The Asia Pacific region is projected to witness the fastest growth during the forecast period
The omega-3 market in Asia Pacific is projected to witness high growth due to rising awareness about its health benefits and increasing disposable income of the population in the Asia Pacific countries. With the growing inclination toward healthy aging in the region, the adult population prefers consuming dietary supplements, including omega-3, as per the recommendations by the Global Organization for EPA & DHA Omega-3 (GOED). Moreover, in Asia Pacific countries, the governments are also focusing on and promoting fortified foods, and many big brands such as BASF (Germany) and Croda International (UK) have expanded their operations in these countries to cater to the growing demand for omega-3. Key manufacturers prefer expanding in the Asia Pacific region, as it provides cost-effective benefits during production and processing. The high demand for omega-3 and low cost of production are the major factors that are projected to encourage suppliers and manufacturers to invest in this market. In addition, Asia Pacific has the highest growth potential due to factors such as high economic growth and the increase in income of individuals in the region. The high population growth and increase in FDI are factors that are driving the growth of the omega-3 market.