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.
The global omega-3 market is estimated to be valued at USD 4.1 billion in 2019 and is projected to reach USD 8.5 billion by 2025, recording a CAGR of 13.1%. Consumer awareness regarding the health benefits of omega-3 and an increase in application profiling and existing applications finding new markets are the factors that are projected to drive the growth of the global omega-3 market.
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The infant formula application segment is projected to witness the fastest growth, in terms of value, during the forecast period
By application, the infant formula segment is projected to grow at the highest CAGR. This is due to the growing awareness among the parents to combat the deficiencies of omega-3 in the infants. Many women these days suffer from omega-3 deficiencies due to which adequate amount of EPA and DHA, which is required for infant brain development, is not passed on to the infants through breast milk. Due to these factors, the omega-3-rich infant formula is projected to grow at a higher growth rate.
The marine source segment is projected to account for a larger share in the omega-3 market during the forecast period
Based on the source, the omega-3 market is segmented into marine and plant. The marine source of omega-3 is estimated to account for a larger share due to the large EPA and DHA content in most of the oily fishes such as salmon. Most of the manufacturers are also manufacturing marine-based omega-3 to meet the growing demand for EPA and DHA, which are not abundantly present in other plant-based sources.
The Asia Pacific region is projected to witness the fastest growth during the forecast period
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.
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This report includes a study on the marketing and development strategies, as well as the product portfolios of the leading companies operating in the omega-3 market. It includes the profiles of leading companies such as Epax (Norway), Croda International (UK), Golden Omega (Chile), GC Rieber (Norway), Cargill (US), DSM (Netherlands), BASF (Germany), Lonza (Switzerland), KD Pharma (Germany), and Pharma Marine (Norway).
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