Omega-3 is a fatty acid that is obtained through fish, fish oils, fatty fish, walnuts, soybeans, and others. Omega-3 supplements are generally used to reduce the risk of heart disease and lower the chances of cardiac arrest. A deficiency of Omega-3 can cause severe infections such as rashes, swollen, scaly skin, and others. Omega-3 products are generally found as tablets and capsules.
According to publisher estimates, the Global Omega-3 Product Market - which grew from ~US$ 2 Bn in 2017, estimated to ~US$ 3 Bn by 2022 - is forecasted to grow further into ~US$ 4 Bn opportunity by 2028, owing to the increasing demand for supplement products from the pharmaceutical sector, growing health concerns among consumers, and health and skincare benefits. These supplements generally include liquid products, capsules, and others.
Health benefits associated with the consumption of Omega-3 is a major factor that propels the growth of the Omega-3 Products Market. Omega-3 polyunsaturated fatty acids (PUFAs) contain immune nutrients and are commonly used in the nutritional therapy of cancer patients due to their biological effects.
According to the World Health Organization (WHO), nearly 10 million deaths in 2020 were caused by cancer disease worldwide. It was observed in the WHO study that the most common cases of cancer were lung, prostate, skin, stomach, colon, and rectum. Due to this, the rising number of cancer patients is likely to drive the demand for Omega-3 products.
Government regulation on fishing activities to protect the fish species is expected to hamper the raw material supply. Moreover, allergies related to fish oil and complex extraction procedure is also restraining the Omega-3 Product Market growth.
The government of India has passed a law that restricts fishing or fishing-related activities in exclusive economic zones or high sea areas. In Europe, the Common Fisheries Policy states to preserve the fish stock, protect the marine environment, and ensure economic viability. In the USA, Magnuson-Stevens Fishery Conservation and Management Act, and the Endangered Species Act states prevent overfishing, rebuild overfished stocks, increase the long-term benefit of fisheries, and ensure a safe and sustainable seafood supply.
Omega-3 has been proven beneficial in boosting immunity to help fight COVID-19 and has increased the growth of the omega-3 product market. This is because of the growing demand for omega fatty acids foods and dietary supplements to enhance immunity. The suggestion from doctors worldwide to include immunity-boosting supplements in day-to-day life is a major contributing factor in the growth of omega-3 products.
DHA is an Omega-3 fatty acid found in cold-water fish, such as tuna, sardines, shellfish, herring, and salmon. It is also found in fish oil supplements. DHA is used for various immunity applications such as in heart disease, attention-deficit hyperactivity disorder (ADHD), depression, infant development, menstrual pain, lupus, Raynaud syndrome, and others.
By Source: The marine source segment accounted for the largest market share in 2021, owing to fish and fish oil as the main source of Omega-3 acids.
Fish oil and supplements contain essential acids such as DHA and EPA, which help to reduce the risk of heart diseases. Prices of Omega-3 are also depended on the extraction and processing cost of the fish. In January 2020, AlaskOmega, a fish oil manufacturing company, launched an Omega-3 concentrate powder produced from natural fish oils. The powder is used in a variety of applications such as drink powders, energy bars, baked goods, dairy products, and others.
By Application: The supplement and functional foods segment held the largest market share in 2021, owing to the growing awareness regarding nutritional food intake among various individuals and the young generation.
Supplements are a kind of drug or natural health products, marketed as tablets, capsules, and other various means. Functional foods are defined as a supplement that has new or fresh ingredients, resulting in enhanced function and improvement in health.
Rising demand for Omega-3 dietary supplements due to the COVID-19 outbreak is also driving this segment. Dietary supplements can contain minerals, herbs, and many other ingredients.
By Geography: North America accounted for the largest market share within the global Omega-3 Product market in 2021, owing to regular product improvement, and houses the major global companies operating in Omega-3 products.
American Heart Association (AHA) recommends eating 2 servings of fish per week, which will serve high Omega-3 proteins. AHA also mentioned that Omega-3 fatty acids can reduce the risk of heart diseases and strokes.
Moreover, the presence of leading companies operating in Omega-3 supplement and dietary products, like Cargill Incorporated, Cellena Inc., Stepan, and others in the region further boosts the expansion of this market.
In June 2021, Polaris, a raw material supplier company, launched the most concentrated plant-based microalgae oil, named Omegavie DHA 800 Sensory Qualitysilver 5 algae.
In March 2020, Wellness Companies, a manufacturer and raw material supplier launched MSC-certified omega-3 concentrate powder, designed for use in dietary supplements, food, and beverages.
In October 2019, Epax announced an investment of US$ 35 in upgrading its facilities and capacity in response to consumer demand for high-potency omega-3 oils.
Note: This is an upcoming/planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients, and the report delivered within a maximum of two working weeks
According to publisher estimates, the Global Omega-3 Product Market - which grew from ~US$ 2 Bn in 2017, estimated to ~US$ 3 Bn by 2022 - is forecasted to grow further into ~US$ 4 Bn opportunity by 2028, owing to the increasing demand for supplement products from the pharmaceutical sector, growing health concerns among consumers, and health and skincare benefits. These supplements generally include liquid products, capsules, and others.
Health benefits associated with the consumption of Omega-3 is a major factor that propels the growth of the Omega-3 Products Market. Omega-3 polyunsaturated fatty acids (PUFAs) contain immune nutrients and are commonly used in the nutritional therapy of cancer patients due to their biological effects.
According to the World Health Organization (WHO), nearly 10 million deaths in 2020 were caused by cancer disease worldwide. It was observed in the WHO study that the most common cases of cancer were lung, prostate, skin, stomach, colon, and rectum. Due to this, the rising number of cancer patients is likely to drive the demand for Omega-3 products.
Government regulation on fishing activities to protect the fish species is expected to hamper the raw material supply. Moreover, allergies related to fish oil and complex extraction procedure is also restraining the Omega-3 Product Market growth.
The government of India has passed a law that restricts fishing or fishing-related activities in exclusive economic zones or high sea areas. In Europe, the Common Fisheries Policy states to preserve the fish stock, protect the marine environment, and ensure economic viability. In the USA, Magnuson-Stevens Fishery Conservation and Management Act, and the Endangered Species Act states prevent overfishing, rebuild overfished stocks, increase the long-term benefit of fisheries, and ensure a safe and sustainable seafood supply.
Omega-3 has been proven beneficial in boosting immunity to help fight COVID-19 and has increased the growth of the omega-3 product market. This is because of the growing demand for omega fatty acids foods and dietary supplements to enhance immunity. The suggestion from doctors worldwide to include immunity-boosting supplements in day-to-day life is a major contributing factor in the growth of omega-3 products.
Scope of the Report
The Omega-3 Product Market is segmented by product, source, and application. In addition, the report also covers market size and forecasts for the four regions in the Omega-3 Product Market. The revenue used to size and forecast the market for each segment is US$ billion.By Product Type
- Docosahexaenoic acid (DHA)
- Eicosapentaenoic acid (EPA)
- Alpha-linolenic acid (ALA)
By Source
- Marine Source
- Plant Source
By Application
- Supplements & Functional Foods
- Pharmaceuticals
- Infant Formula
- Animal Feed & Pet Food
- Others
By Geography
- North America (USA, Canada, Mexico)
- Europe (Germany, UK, France, Spain, Italy)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Australia)
- LAMEA (Latin America, Middle East, Africa)
Key Players
- Croda International Plc
- BASF SA
- Cargill Incorporated
- Reckitt Benckiser Group PLC
- Orkla Health
- Aker Biomarine
- DSM N.V
- Cellana Inc
- Stepan
- Epax
Key Trends by Market Segment
By Product Type: The docosahexaenoic acid (DHA) segment held the largest market share of the Global Omega-3 Product Market in 2021, owing to the rising number of heart diseases and rising concern over the healthy living.DHA is an Omega-3 fatty acid found in cold-water fish, such as tuna, sardines, shellfish, herring, and salmon. It is also found in fish oil supplements. DHA is used for various immunity applications such as in heart disease, attention-deficit hyperactivity disorder (ADHD), depression, infant development, menstrual pain, lupus, Raynaud syndrome, and others.
By Source: The marine source segment accounted for the largest market share in 2021, owing to fish and fish oil as the main source of Omega-3 acids.
Fish oil and supplements contain essential acids such as DHA and EPA, which help to reduce the risk of heart diseases. Prices of Omega-3 are also depended on the extraction and processing cost of the fish. In January 2020, AlaskOmega, a fish oil manufacturing company, launched an Omega-3 concentrate powder produced from natural fish oils. The powder is used in a variety of applications such as drink powders, energy bars, baked goods, dairy products, and others.
By Application: The supplement and functional foods segment held the largest market share in 2021, owing to the growing awareness regarding nutritional food intake among various individuals and the young generation.
Supplements are a kind of drug or natural health products, marketed as tablets, capsules, and other various means. Functional foods are defined as a supplement that has new or fresh ingredients, resulting in enhanced function and improvement in health.
Rising demand for Omega-3 dietary supplements due to the COVID-19 outbreak is also driving this segment. Dietary supplements can contain minerals, herbs, and many other ingredients.
By Geography: North America accounted for the largest market share within the global Omega-3 Product market in 2021, owing to regular product improvement, and houses the major global companies operating in Omega-3 products.
American Heart Association (AHA) recommends eating 2 servings of fish per week, which will serve high Omega-3 proteins. AHA also mentioned that Omega-3 fatty acids can reduce the risk of heart diseases and strokes.
Moreover, the presence of leading companies operating in Omega-3 supplement and dietary products, like Cargill Incorporated, Cellena Inc., Stepan, and others in the region further boosts the expansion of this market.
Competitive Landscape:
- The Global Omega-3 Product Market is highly competitive with ~400 players which include globally diversified players, and regional players as well as a majority number of country-niche players having their niche in Omega-3 product manufacturing and distributing for various applications
- Country niche players constitute ~70% by type of competitors while large global players constitute ~5% of the competitors. Some of the major players in the market include Croda International Plc, BASF SA, Cargill Incorporated, Reckitt Benckiser Group PLC, Orkla Health, Aker Biomarine, DSM N.V., Cellana Inc., Stepan, Epax, among others
Recent Developments Related to Major Players
In October 2021, the business partnership of BASF and Cargill now includes research & development by expanding its capabilities in new markets to the existing feed enzymes distribution agreement. The companies aim to develop, produce, and sell enzyme products and solutions to reduce the waste of nutrients and improve feed efficiency for animal growth and well-being.In June 2021, Polaris, a raw material supplier company, launched the most concentrated plant-based microalgae oil, named Omegavie DHA 800 Sensory Qualitysilver 5 algae.
In March 2020, Wellness Companies, a manufacturer and raw material supplier launched MSC-certified omega-3 concentrate powder, designed for use in dietary supplements, food, and beverages.
In October 2019, Epax announced an investment of US$ 35 in upgrading its facilities and capacity in response to consumer demand for high-potency omega-3 oils.
Conclusion
The Global Omega-3 Product Market witnessed significant growth during the period 2017-2021, owing to the awareness among people regarding health and various other infectious diseases. The growth rate is expected to remain significant during the forecast period. Though the market is significantly competitive with ~400 participants, the majority of country niche players constitute a higher number of competitor types, while global players hold a significant market share.Note: This is an upcoming/planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients, and the report delivered within a maximum of two working weeks
Key Topics Covered in the Report
- Snapshot of the Global Omega-3 Product Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Global Omega-3 Product Market
- Historic Growth of the Overall Global Omega-3 Product Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of the Global Omega-3 Product Industry
- Overview, Product Offerings, and Strengths & Weaknesses of Key Competitors
- COVID-19 Impact on the Overall Global Omega-3 Product Market
- Future Market Forecast and Growth Rates of the Total Global Omega-3 Product Market and by Segments
- Market Size of Source/Application Segments with Historical CAGR and Future Forecasts
- Analysis of the Global Omega-3 Product Market
- Major Production/Supply and Consumption/Demand Hubs in Each Major Region
- Major Region-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Major Continent
Major Players Mentioned in the report
- Croda International Plc
- BASF SA
- Cargill Incorporated
- Reckitt Benckiser Group PLC
- Orkla Health
- Aker Biomarine
- DSM N.V
- Cellana Inc
- Stepan
- Epax
- Chambio Co., Ltd
- Affiliate Nutra
- Makers Nutrition
- Wiley's Finest
- SMPNutra
Key Target Audience - Organizations and Entities Who Can Benefit by Subscribing This Report
- Omega-3 Manufacturing Companies
- Omega-3 Distributors
- Omega-3 Product Fish Oil Extracting Companies
- Potential Investors in Pharma & Wellness Product Companies
- Acid Manufacturing and Extracting Companies
- Supplements Manufacturing & Distributing Companies
- Algae and Vegetable Oil Omega-3 Extracting Companies
- Consulting Companies in the Omega-3 Product Market
- Government And Research Organizations Working in Food Industry
- PE Firms and Investment Banks Targeting Food Industry
- PE Firms and Investment Banks Targeting Healthcare Industry
Time Period Captured in the Report
- Historical Period: 2017-2021
- Forecast Period: 2022-2028F
Frequently Asked Questions
What is the Study Period of this Market Report?
- The Global Omega-3 Product Market is covered from 2017-2028 in this report, including a forecast for 2022-2028
What is the Future Growth Rate of the Global Omega-3 Product Market?
- The Global Omega-3 Product Market is expected to witness a CAGR of ~8% over the next six years
What are the Key Factors Driving the Global Omega-3 Product Market?
- Increasing demand for supplement products and health benefits associated with the consumption of Omega-3 are fueling the growth in this market
Which is the Largest Product Segment within the Global Omega-3 Product Market?
- The docosahexaenoic acid (DHA) product type segment held the largest share of the Global Omega-3 Product Market in 2021
Who are the Key Players in the Global Omega-3 Product Market?
- Croda International Plc, BASF SA, Cargill Incorporated, Reckitt Benckiser Group PLC, Orkla Health, Aker Biomarine, DSM N.V., Cellana Inc., Stepan, Epax.
Additional benefits of purchasing an enterprise license:
- TAM/SAM/SOM Analysis
- Customer Cohort Analysis
- Marketing Initiatives
- White Space Opportunity Analysis
- Interactive Data Visualizations
- Customization: 20 Analyst Hours
- 3 Months Post Sales Analyst Support
- Complimentary Update Next Year
- Custom Webinars
Table of Contents
1. Executive Summary
2. Market Overview and Key Trends Impacting Growth
3. Total Global- Market Segmentation by Product Type, Historic Growth, Outlook & Forecasts
4. Total Global- Market Segmentation by Source, Historic Growth, Outlook & Forecasts
5. Total Global- Market Segmentation by Applications, Historic Growth, Outlook & Forecasts
6. Industry/Competition Analysis - Competitive Landscape
7. Key Competitor Profiles (Company Overview, Type Offerings, and Strengths & Weaknesses of Key Competitors)
8. Geographic Analysis & Major Countries Market Historic Growth, Outlook, and Forecasts
9. Industry Expert’s Opinions/Perspectives
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Croda International Plc
- BASF SA
- Cargill Incorporated
- Reckitt Benckiser Group PLC
- Orkla Health
- Aker Biomarine
- DSM N.V.
- Cellana Inc.
- Stepan
- Epax
- Chambio Co., Ltd.
- Affiliate Nutra
- Makers Nutrition
- Wiley's Finest
- SMPNutra
