The Global Omega-3 Market is projected to reach USD 4.50 billion by 2027. Increasing knowledge of food safety and dietary changes is driving the Omega-3 market. Different factors are also expected to build market enforcements, such as emerging economies and subsequently rising customer income, the adoption of e-commerce and m-commerce platforms, and demand for overall organic supplements & functional foods.
Although dietary enhancement is a desirable aim for many common individuals in different age groups, it also seems incredibly difficult for most of them to alter dietary habits. It is thus becoming a common practice for many individuals to consume additional dietary supplements to improve the daily intake of nutrients in order to lead a healthy lifestyle. In addition, the growing number of patients with heart disease, inflammatory bowel disease, and eyesight concerns, among others are the reasons why omega-3 standards are being increased.
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The Asia Pacific region has one of the largest customer bases and holds a major share of the market. Due to the incisive increase in heart disease, eyesight problems among children and adults, which are the key reason behind the overall market growth, this area is also expected to register the highest growth during the forecast period.
Due to its large use of Omega 3 nutraceuticals & supplements, North America is expected to rise at a CAGR of 7.6% over the period from 2020 to 2027. As the nation shows an incisively rising pattern of using dietary supplements, the United States retains an impressive market share.
Europe is a customer in this segment, and by 2027, it is projected to hold a 22.6% market share. Countries such as Germany, Switzerland, Norway, France and Belgium, among others are steadily seeing a year-on-year rise in their market penetration.
In March 2020, Wiley Companies, a producer of Omega-3 fish oil, disclosed its formulations for a fresh powdered omega-3 concentrate. In terms of the powder formulation, this was the company’s first launch.
In December 2019, Nordic Investment Bank & Pelagia Holding AS, a Norwegian producer of pelagic fish products, refinanced the acquisition of Epax Norway AS, a renowned producer of omega 3 fatty acids.
Key participants include
• Orkla Health
• KD Pharma
• Nordic Naturals
• Croda International
• Runke Bioengineering
• Pharma Marine
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For the purpose of this report, Reports and Data has segmented the global market on the basis of type, source, end-use verticals, and region:
Type Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
• Docosahexaenoic Acid (DHA)
• Eicosapentaenoic Acid (EPA)
• Alpha-linolenic Acid (ALA)
Source Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
• Marine Sources
• Plant Sources
End-Use Vertical Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
• Personal Care & Pharmaceuticals
• Nutraceuticals & Supplements
• Infant Formulas
• Animal Feed
Regional Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
• North America
o Rest of Europe
• Asia Pacific
o Rest of APAC
• Latin America
o Rest of LATAM
• Middle East & Africa
o Saudi Arabia
o Rest of MEA
The report emphasizes the following key questions
• Q.1. What are the most lucrative and promising growth prospects for the market?
• Q.2. Which sectors are expected to deliver a high growth rate and which industry aspects come into play in this advancement?
• Q.3. Which geographies are estimated to exhibit the highest growth and the underlying causes?
• Q.4. Which factors are impacting the future of the market and what are the driving factors?
• Q.5. What are the hurdles and challenges curtailing the industry’s growth in the forecast period?
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