Omega 3 Market: Current Analysis and Forecast (2021-2027)

About the Report

About the Report

A rise in the demand for functional food and healthy food is one of the prominent factors contributing to the growth of the omega 3 markets. On an estimate, the global functional food market is expected to increase from USD 177.77 Mn in 2019 to USD 267.92 Mn by 2027. Moreover, the rising sales of functional food products are intensifying the growth of Functional Food Ingredients. According to Euromonitor 2018, Health and wellness drive the growth in the global food and beverage industry. Global sales of naturally healthy foods reached USD 253 Bn in 2017.
Functional foods ingredients offer a health benefit beyond basic nutrition for the improvement of outer or inner health. The Academy of Nutrition and Dietetics categorizes the three main functional foods such as natural products (vegetables, fruits, grains, dairy, fish, and meat), enriched or fortified foods, and synthesized food ingredients like prebiotics. The increasing prevalence of chronic diseases is augmenting the consumer shift towards healthier food alternatives. In addition, the Rising consumer interest, and high awareness of immunity-enhancing properties of proper diet and food habits, are some of the key factors fueling the growth of the global omega O3 market.
Moreover, the growing prevalence of diseases such as rheumatoid arthritis, heart diseases, brain stroke, diabetes, etc., is also contributing to the growth of the market. According to the International Diabetes Federation, people with diabetes are expected to increase from 382 million in 2013 to 592 million in 2035. Nearly one in ten people globally will have diabetes by 2035. Further, as reported by WHO, an increasingly aging population will accelerate cancer prevalence in the coming decades; the annual number of new cancer cases is projected to rise to 17 million by 2020, and reach 27 million by 2030, globally.
Also, the benefits of omega 3 are leading to the growing demand, globally. As per National Center for Complementary and Integrative Health, Omega-3 supplements may help relieve symptoms of rheumatoid arthritis. American College of Cardiology and American Heart Association (ACC/AHA) recommends eating fish as part of a heart-healthy diet. Indeed, having a diet rich in omega-3 fatty acids may help prevent heart disease, protect brain and eye health, and contribute to fetal development. Also, the Heart Foundation recommends all Australians should aim to include 2-3 serves of fish (including oily fish) per week as part of a heart-healthy diet. This provides around 250-500 milligrams (mg) of marine-sourced omega-3s (EPA, DHA) per day. The Heart Foundation also recommends that all Australians should aim for 1 gram of plant-sourced omega-3 (ALA) each day.
Based on the type, the market is fragmented into EPA, DHA, ALA. Docosahexaenoic Acid segment grabbed the major market share and dominated the market. Moreover, the market of this segment would witness the highest CAGR during the forthcoming years owing to the growing demand for reducing bad cholesterol and improving health conditions. However, the EPA segment would grab a considerable CAGR during the forthcoming years as well.
Based on the source, the market is fragmented into marine and plants. The marine segment grabbed the major market share and dominated the market. The segment captured XX% market share in 2020. The segment is witnessing an uptick owing to the growing consumption of fish oil as fish oil is the major marine source, which is mainly derived from anchovy fish.
Based on the application, the market is fragmented into Supplements & Functional Foods, Infant Formula, Pharmaceuticals, Animal Feed & Pet Food, and Others. Supplements & Functional Food grabbed the major market share and dominated the market in 2020.
For a better understanding of the market adoption of the Omega 3Market, the market is analyzed based on its worldwide presence in the countries such as North America (the United States, Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and Rest of APAC), and Rest of World. North America constitutes a major market for the Omega 3industry and generated revenue of USD XX Million in 2020 owing to the increase in awareness among consumers coupled with the presence of numerous brands offering Omega 3in the countries such as the U.S., and Canada.
Some of the major players operating in the market are BASF SE, Aker Biomarine Antarctic AS, Orkla Health, Omega Protein Corp., GC Reiber Oils, Lonza, Croda International Plc, EPAX, BioProcess Algae, LLC, Koninklijke DSM N.V., etc. Several M&As along with partnerships have been undertaken by these players to develop omega 3 across the globe.

Products


Companies

BASF SE, Aker Biomarine Antarctic AS, Orkla Health, Omega Protein Corp., GC Reiber Oils, Lonza, Croda International Plc, EPAX, BioProcess Algae, LLC, Koninklijke DSM N.V.

Table of Contents

Table of Contents

1 MARKET INTRODUCTION

1.1. Market Definitions

1.2. Limitation

1.3. Stake Holders

1.4. Currency used in Report

2 RESEARCH METHODOLOGY OR ASSUMPTION

2.1. Research Process of the Omega 3 Market

2.2. Research Methodology of the Omega 3 Market

2.3. Forecasting Method

2.4. Respondent Profile

2.5. Main Objective of the Omega 3 Market Study

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 GLOBAL OMEGA 3 MARKET COVID-19 IMPACT

6 GLOBAL OMEGA 3 MARKET REVENUE, 2019-2027F

7 MARKET INSIGHTS BY TYPE

7.1. Eicosatetraenoic acid (EPA)

7.2. Docosahexaenoic acid (DHA)

7.3. Alpha-linolenic acid (ALA)

8 MARKET INSIGHTS BY SOURCE

8.1. Marine

8.2. Plant

9 MARKET INSIGHTS BY APPLICATION

9.1. Supplements & Functional Foods

9.2. Infant Formula

9.3. Pharmaceuticals

9.4. Animal Feed and Pet Food

9.5. Others

10 MARKET INSIGHTS BY REGION

10.1. North America Omega 3 Market

10.1.1. United States

10.1.2. Canada

10.1.3. Rest of North America

10.2. Europe Omega 3 Market

10.2.1. United Kingdom

10.2.2. Germany

10.2.3. France

10.2.4. Italy

10.2.5. Spain

10.2.6. Rest of Europe

10.3. Asia Pacific Omega 3 Market

10.3.1. China

10.3.2. Japan

10.3.3. India

10.3.4. Australia

10.3.5. South Korea

10.3.6. Rest of Asia Pacific

10.4. Rest of World Omega 3 Market

11 OMEGA 3 MARKET DYNAMICS

11.1. Market Drivers

11.2. Market Challenges

11.3. Impact Analysis

12 OMEGA 3 MARKET OPPORTUNITIES

13 OMEGA 3 MARKET TRENDS

14 LEGAL & REGULATORY FRAMEWORK

15 DEMAND AND SUPPLY SIDE ANALYSIS

15.1. Demand Side Analysis

15.2. Supply Side Analysis

15.2.1. Top Product Launches

15.2.2. Top Business Partnerships

15.2.3. Top Business Expansions, Investments and Divestitures

15.2.4. Top Merger and Acquisitions

16 VALUE CHAIN ANALYSIS

17 COMPETITIVE SCENARIO

17.1. Competitive Landscape

17.1.1. Company Shares, By Revenue

18 COMPANY PROFILED

18.1. BASF SE

18.2. Aker Biomarine Antarctic AS

18.3. Orkla Health

18.4. Omega Protein Corp.

18.5. GC Reiber Oils

18.6. Lonza

18.7. Croda International Plc

18.8. EPAX

18.9. BioProcess Algae, LLC

18.10. Koninklijke DSM N.V

19 DISCLAIMER

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