Omega 3 Market Size & Share Report, 2021-2028
Omega 3 Market
The Omega 3 Market was estimated at USD 2,115 million in 2020 and is projected to grow at a CAGR of 14.9% over the forecast period (2021-2028).
The factors driving the growth of Omega 3 Market includes rise in the number of cardiovascular and heart related diseases, increasing consumers consciousness towards building immunity and growing use of Omega 3 based components in the diets. According to the report published by Centre for Diseases Control and Prevention (CDCP), around 697,000 people in the United States died from cardiovascular related diseases in 2020, almost 1 in every 5 deaths, which is pushing the demand for omega 3 supplements in the U.S. Moreover, the rising awareness about the health benefits of Omega 3, increasing use of fish oil in personal grooming products, rapid growth in the pharmaceutical industry and growing investments by leading players on research and development, are some of the additional factors supplementing the Global Omega 3 Market. In addition, the increasing availability of omega 3 based supplements at the e-commerce platforms, rise in the working population and growing disposable incomes, are further propelling the market growth.
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However, the growth of Omega 3 Market is hindered due to high cost of Omega 3 supplements and inadequate knowledge amongst consumers about Omega 3 products.
The major players operating in the market are Croda International Plc, Epax, BioProcess Algae, LLC, Aker Biomarine, Orkla., Basf Se, Omega Protein Corporation, AG& VivoMega, Lonza., , BioProcess Algae, LLC and DSM, among others.
Type – Segment Analysis
Based on Type, the Docosahexaenoic acid (DHA) segment is predicted to grow at a remarkable CAGR during the forecast period because Docosahexaenoic acid (DHA) helps to reduce the bad cholesterol present in the body and improves the learning ability.
Application – Insights
Based on Application, the Supplements & Functional Foods is anticipated to capture the largest market share over the forecast period owing to increasing awareness about the benefits of Omega 3 supplements amongst the gym professionals and athletes.
Regional – Segment Analysis
As per the Omega 3 Market Trends, the North American region is projected to hold the highest market share during the forecast period. The increasing geriatric population, rise in the number of cardiovascular diseases, presence of the leading players such as Epax Norway AS and BioProcess Algae, busy lifestyles, and high per capita incomes, are some of the important factors augmenting the market growth in North America.
Market Segmentation
Global Omega 3 Market by Type
Eicosapentaenoic acid (EPA)
Alpha-linolenic acid (ALA)
Docosahexaenoic acid (DHA)
Global Omega 3 Market by Source
Plant Source
Marine Source
Global Omega 3 Market by Application
Pharmaceuticals
Animal Feed & Pet Food
Infant Formula
Supplements & Functional Foods
Others
Global Omega 3 Market by Region
Asia PacificChina
Japan
India
Rest of APAC
North AmericaUnited States of America
Canada
EuropeUnited Kingdom
Germany
France
Spain
Rest of Europe
RoWBrazil
South Africa
Saudi Arabia
UAE
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