Omega-3 Market | Opportunities | Outlook

Apr 8

14:33

2021

MNM

Increasing consumer awareness about the health benefits of omega-3 has significantly contributed to the growth of the market.

Report Objectives:

To define, segment, and project the global market size for omega-3
To understand the omega-3 marketby identifying its various subsegments
To provide detailed information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
To analyze the micromarkets, with respect to individual growth trends, prospects, and their contribution to the total market
To project the size of the market and its submarkets, in terms of value, with respect to the regions (along with their respective key countries)
To profile the key players and comprehensively analyze their core competencies
To understand the competitive landscape and identify the major growth strategies adopted by the players across the key regions
To analyze the competitive developments, such as expansions & investments, mergers & acquisitions, new product launches, partnerships, collaborations, and agreements

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Recent Developments:

In October 2019, KD Pharma (Germany) introduced Kardio3, which is a blend of omega-3, vitamin K2, and phytosterols. It aids in maintaining healthy lipids and supports heart and bone health.
In September 2019, Epax (Norway) announced an investment of USD 35 million over the next two years for the innovation of its Omega-3 sector. This investment will allow Epax to have better capacity in the omega-3 industry at its main site of production in Norway. It will facilitate the extended concentration of EPA and DHA without prompting oxidation, which will ultimately avoid unwanted by-products.
In September 2019, Polaris (France) launched Omegavie DHA 700 algae Sensory QualitySilver, which would help the company in the field of algal omega-3. The product majorly contains DHA and also contains excellent organoleptic properties.

Factors Influencing Global Growth:

Drivers

Consumer Awareness Regarding the Health Benefits of Omega-3
Increase in Application Profiling and Existing Applications Finding New Markets
Innovative Production Technologies

Restraints

Lower Fish Oil Supply Due to Sustainability Issues Among Fisheries
Lack of Clarity Among Consumers About Daily Recommended Intake

Opportunities

Research for the Development of Alternative Sources to Obtain Omega-3
Emerging Economies of Asia Pacific and South America to Witness High Growth
Favorable Regulatory Environment
Microencapsulation
Awareness About Certified Food Ingredients

Challenges

High Cost Involved in R&D Activities
Highly Unstable Fish Oil Prices

Monetary Growth Expectations, Globally:

The omega-3 market size is estimated to account for a value of USD 4.1 billion in 2019 and is projected to grow at a CAGR of 13.1% from 2019, to reach a value of USD 8.5 billion by 2025. Consumer awareness regarding the health benefits of omega-3 and an increase in application profiling and existing applications finding new markets are projected to drive the growth of the omega-3 industry.

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Geographical Growth Scenario:

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.

Leading Market Players: