Enjoy complimentary customisation on priority with our Enterprise License!
The Omega-3 Products market size is projected to increase by USD 25.52 billion, at a CAGR of 8.09% between 2023 and 2028. The market is experiencing significant growth due to several key drivers. Firstly, the increasing awareness of the health benefits associated with Omega 3 fatty acids, particularly in relation to cardiovascular health and brain function, is leading to a surge in demand for these products. Additionally, the trend towards preventive healthcare, infant nutrition, and personalized nutrition is driving consumers to seek out Omega 3 supplements as a proactive measure to maintain their health. However, the market is also facing challenges, including stringent regulations on Omega 3 products, which can increase production costs and limit market entry for new players. Overall, the Omega 3 products market is expected to continue growing, driven by consumer demand for healthier lifestyle choices and the proven health benefits of Omega 3 fatty acids.
To get additional information about the market, Request Free Sample
The market is growing due to increasing consumer preference for healthy diets. Omega-3 ingredients like algal DHA oil are featured in dietary supplements, fortified foods, and health drinks. Innovations in micro-emulsified formulation enhance bioavailability, addressing cardiovascular disease risk, eye diseases such as dry eye syndrome and macular degeneration, and supporting immune function. Product innovation, research development, and manufacturing expertise drive the dietary supplements sector. In the Indian market, regional products, including Eukanuba for pet products, and private labeled local options, are expanding through enhanced distribution networks and merger strategies.
The growing awareness of health benefits associated with Omega-3 fatty acids is driving the market growth. Omega-3 is a type of fatty acid essential to maintain good health. It has various health benefits, one of them being its ability to reduce inflammation in the body which could otherwise cause several diseases such as arthritis, diabetes, and heart disease. Studies show that due to this, it reduces blood pressure, and triglycerides, and lowers the risk of heart attacks and strokes. Regular consumption of Omega-3 is also known to boost brain function by improving the structure of brain cells which improves memory, concentration, and overall cognitive function.
Further, some Omega-3-rich foods that provide these health benefits are fatty fish like salmon, tuna, nuts, seeds, flaxseed, and chia seed oils. and supplements like fish oil capsules and krill oil. Consequently, these factors will increase the demand for Omega-3 products and fuel the growth of the market during the forecast period.
The increasing focus on preventive healthcare and personalized nutrition is a key trend in the market. The market is facing a rise in demand as a result of growing awareness and focus on preventive healthcare and personalized nutrition. Personalized nutrition is a health and wellness approach that is tailored to meet the specific needs of the individual. Omega-3 products help address prevalent diseases like cardiovascular disease, diabetes, and cancer. With various consumers and healthcare providers alike shifting towards personalized medicine and nutrition, Omega-3 supplements have seen a rise as a key nutritional supplement.
Moreover, technological advancements have allowed a bolder approach towards personal health for individuals to take by a variety of methods. These include using tools like wearable health trackers and genetic testing and utilizing convenient online shopping platforms for the purchase of personalized nutrition information and supplements. Using these tools, individuals can determine their specific nutritional requirements and plan their diet accordingly. Thus, the above-mentioned factors are expected to increase the demand for Omega-3 products, which will fuel the growth of the market during the forecast period.
The stringent regulations on Omega-3 products are challenging its market growth. Certain products could have harmful contaminants or inaccurate labeling and to address these concerns, guidelines have been set out by the FDA and European Food Safety Authority (EFSA) for Omega-3 supplements. For example, a major concern is the presence of harmful contaminants, such as mercury and polychlorinated biphenyl (PCBs), that accumulate in fish due to environmental pollution. Limits on seafood and supplements containing fish oil have been set by the FDA and any product which crosses these limits can be withdrawn from the market. Furthermore, the International Fish Oil Standards Program (IFOS), a regulatory body gives the option of third-party testing and certification to ensure omega - 3 supplements meet quality standards with regard to purity and potency.
Additionally, incorrect labeling of the supplements can mislead consumers, and hence, the FDA mandates supplements to have the amount and percent daily value of each nutrient labeled. Despite this, the inaccuracy may be present due to a higher proportion of less beneficial Omega-3s, like ALA, instead of EPA and DHA. Moreover, the safety of novel ingredients in Omega-3 supplements must be assessed prior to sales such as in the case of krill oil, a new and popular source of omega-3 fatty acids. The safety and efficacy of krill oil is yet to be established by the EFSA, and a recommended daily intake has not been determined. Therefore, such factors will reduce the growth of the market during the forecast period.
The market research report includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the functional food and supplements segment will be significant during the forecast period. Omega-3-enriched eggs, functional food is produced by feeding the chickens a diet that is rich in Omega-3 fatty acids, which are then passed on to the eggs they produce. They provide an alternative to consumers not wanting to consume supplements. Other examples of functional foods include fortified milk, bread, and breakfast cereals.
For a detailed summary of the market segments Request for Sample Report
The functional food and supplements segment was valued at USD 18.52 billion in 2018. The supplement segment of the market, including fish oil capsules, liquid fish oil, and krill oil capsules, has also seen significant growth. Those with a diet deficient in Omega-3 or those with specific medical conditions often take Omega-3 supplements. Fish oil capsules, made from oil extracted from salmon, mackerel, and anchovy, etc can be obtained in various potencies, and give considerable amounts of the most important Omega-3 fatty acids, EPA and DHA. Yet another example of an Omega-3 supplement is krill oil capsules which is also a more sustainable Omega-3 source than fish oil. Thus, the above-mentioned factors are expected to increase the demand for the functional food and supplement segment, which will propel the growth of the market.
Get a glance at the market share of various regions View PDF Sample
North America is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. North America has a significant share of the industrial market due to rising health customer awareness and the benefits associated with them. Due to the widespread emergence of chronic diseases such as cancer, heart disease, stroke, diabetes, arthritis, and rising health concerns. The US is the largest market for Omega-3 products in North America. This can be seen in a growth in demand for dietary supplements, functional foods, pharmaceuticals, and infant formula. Additionally, the rising trend of plant-based diets has also resulted in an increase in demand for plant-based sources of Omega-3 fatty acids such as flaxseed, chia seeds, and hemp seeds. Besides, it has also seen a surge in growth in the pet food industry due to rising pet owners’ awareness of the health benefits of Omega-3 products for their pets. Thus, the above-mentioned factors are expected to increase the demand for Omega-3 products, which will fuel the growth of the regional market during the forecast period.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
The market has experienced significant growth in recent years due to the increasing awareness of health-oriented products and the role of Omega-3 fatty acids in maintaining good health. These essential fatty acids, found in dietary supplements, foods such as fish, nuts, and seeds, play a crucial role in the prevention and management of chronic diseases like cardiovascular disease, severe respiratory issues, and even cancer. With the ongoing coronavirus pandemic causing numerous deaths, the demand for Omega-3 supplements has surged as they offer inflammation support and heart health benefits.
Further, the market caters to consumers seeking nutritional supplements for various health concerns, including heart disease, arthritis, strokes, and cognitive function. Innovation in the market includes the development of odoriferous oils, micro-emulsified formulations, and gastric juice-friendly products to enhance absorption. Public initiatives promoting a healthy lifestyle and good nutrition further fuel the market's growth. Approximately 14 million people worldwide take Omega-3 supplements regularly for various health reasons. These supplements support heart health, inflammation, eye health, and cognitive function, making them an essential part of a balanced diet.
|
Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
173 |
|
Base year |
2023 |
|
Historic period |
2018 - 2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 8.09% |
|
Market Growth 2024-2028 |
USD 25.52 billion |
|
Market structure |
Fragmented |
|
YoY growth 2023-2024(%) |
7.32 |
|
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
|
Performing market contribution |
APAC at 41% |
|
Key countries |
US, China, Canada, Germany, and Japan |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
Aker BioMarine ASA, Amway Corp., Archer Daniels Midland Co., BASF SE, Cargill Inc., China Mengniu Dairy Co. Ltd., Cooke Aquaculture Inc., Croda International Plc, GC Rieber AS, Golden Omega S.A., Herbalife International of America Inc., Koninklijke DSM NV, Lonza Group Ltd., Natures Crops International, Nestle SA, Orkla ASA, Pelagia AS, Quadra Chemicals Ltd., Reckitt Benckiser Group Plc, and Unilever PLC |
|
Market dynamics |
Parent market growth analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the market forecast period. |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
BUY NOW Full Report and Discover more
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
Get the report (PDF) sent to your email within minutes.