(Food-Beverage-News.Com, November 14, 2021 ) Fish Oil Omega-3 Market size is estimated to reach $3,700 million by 2026, growing at a CAGR of 6.1% over 2021-2026. Omega-3 fatty acids are essential nutrients that are present in certain foods such as flaxseed and fish, as well as dietary supplements such as fish oil. It is also referred to as n-3s that contains carbon–carbon double bond located three carbons from the methyl end of the chain. There are several types of omega-3 fish oils 'such as alpha-linolenic acid (ALA), eicosapentaenoic acid (EPA), and docosahexaenoic acid (DHA) where EPA and DHA are considered as long chain omega-3s. The omega-3 fatty acids also present in Cod Liver Oil that come from the liver of cod fish which contain various health benefits. Various fish such as salmon and tuna are especially high in omega-3 fatty acids that contains docosahexaenoic Acid (DHA). Omega-3 acids such as EPA and DHA are found in fish oil supplements that help in reducing heart diseases. Growing awareness about the health among people and rising incidence of cardiovascular diseases is the major factor driving the growth of this market. Furthermore, increasing research and development activities in food and beverage industry and rising advancement in technology is set to further enhance the overall market demand for Fish Oil Omega-3 Market for the period 2021-2026.
Fish Oil Omega-3 Segment Analysis – By Type
The Fish Oil Omega-3 Market based on Type can be further segmented into Eicosapentaenoic acid (EPA), and Docosahexaenoic acid (DHA), and Alpha-linolenic acid (ALA). The Docosahexaenoic acid (DHA) segment is the major segment generating revenue in 2020. This is mainly owing to its effective support in the development of eye and nerve tissues that increases consumption among consumers. Moreover, DHA is an important ingredient which is required among consumers of all ages as it helps to increase memory power and supports learning. The Eicosapentaenoic acid (EPA) segment is estimated to register the fastest CAGR of 1.05% for the period 2021-2026. This is mainly owing to the fact that EPA helps in preventing various diseases such as asthma, cancer, menstrual problems and many more that increases the adoption of EPA in food and beverage industry which in turn boosting the growth of Fish Oil Omega-3 market.
The Fish Oil Omega-3 Market based on Form can be further segmented into Soft Gels, and Liquid. The Soft Gels segment registers for the highest Fish Oil Omega-3 market share in 2020. Soft gels are easy to swallow owing to its flexible shape and also provide smooth texture and taste masking capabilities. Moreover, softgels are easily digestible that helps in reducing discomfort in stomach which increases the consumption of softgels among consumers. The Liquid segment is forecasted to register the fastest CAGR of 2% over 2021-2026. This is mainly owing to the fact that fish oil supplements are mostly available in liquid form as it provides a better and easier solution for the digestive system that increases the adoption of fish oil in liquid form and are propelling the growth of Fish Oil Omega-3 market.
Fish Oil Omega-3 Segment Analysis – By Geography
North America dominated the Fish Oil Omega-3 Market with major share of 45% in 2020. This is owing to changing dietary pattern that increases the demand of fish oil supplements among consumers. According to the Center for Disease Control and Prevention (CDC), about 30.3 million people in the U.S. are suffering from heart disease in 2019 that increases the consumption of fish oil omega-3 products among population and are boosting the growth of Fish Oil Omega-3 market.
However, Asia Pacific is estimated to outpace all the regions by clocking the highest CAGR of 3.05% during the forecast period 2021-2026 owing to rising health consciousness among population and changing lifestyle. In India, lifestyle changes increases the prevalence of various diseases such as diabetes, blood pressure, obesity, and cardiovascular problems. So, people are adopting omega-3 supplements that are further enhancing the market growth.
Growing health consciousness among people increases the consumption of omega-3 supplements as it helps to reduce various health issues such as heart problems, cancers, and many more that increases the consumption among. Moreover, American Heart Association (AHA) also recommended to eat fish oil twice a week to maintain optimum omega 3 levels in the diet that increases the preference of omega-3 fish oil supplement and therefore rising the growth of the Fish Oil Omega-3 Market over the period 2021-2026.
Rising Incidence of Cardiovascular Diseases
The incidence of cardiovascular disease increases owing to changing lifestyle patterns among consumers. According to World Health Organization (WHO), about 17.9 million people die every year owing to cardiovascular diseases that increases the demand of omega supplement among consumers in order to reduce the health diseases which further boosting the growth of Fish Oil Omega-3 Market over the period 2021-2026.
Covid-19 Impact:
COVID-19 pandemic had greatly impacted the growth of Fish Oil Omega-3 Market. During pandemic, there is a lockdown that created a disruption in the manufacturing industries owing to less availability of human resources. Moreover, production capacity also decreases among manufacturers and are negatively impacted the growth of Fish Oil Omega-3 Market.
Fish Oil Omega-3 Market Challenges
Strict Government Regulations
The factors that is set to impede the growth of the Fish Oil Omega-3 Market are the strict regulation for the approval of omega-3 supplements. Moreover, owing to regulation there is delay in manufacturing of products that is set to create hurdles for the Fish Oil Omega-3 Market.
Fish Oil Omega-3 Landscape
Product launches, acquisitions, collaboration, joint ventures, and geographical expansions are key strategies adopted by players in the Fish Oil Omega-3 Market. Fish Oil Omega-3 top 10 companies are Aker BioMarine, Axellus, BASF SE, DSM, Omega Protein Corporation, GC Reiber Oils, Wiley, Lonza, Natrol LLC, and Bionova.
Development
In March 2020, Wiley launched its new formulations of a new omega-3 concentrate in powder form that helps consumers to get rid from various diseases which further rising the market growth.
Key Takeaways
In 2020, North America dominated the Fish Oil Omega-3 Market owing to changing dietary pattern that increases the demand of fish oil supplements among consumers. Moreover, rising prevalence of heart diseases increases the consumption of fish oil omega-3 products which in turn driving the market growth.
Growing awareness about the health among people and rising incidence of cardiovascular diseases are enhancing the growth of the Fish Oil Omega-3 Market.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent manufacturers operating in the market will be provided in the Fish Oil Omega-3 Market report.
Stringent regulation on fish oil omega-3 products is set to create hurdles for the Fish Oil Omega-3 Market.
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