WASHINGTON, Jan. 26, 2022 (GLOBE NEWSWIRE) — The global omega-3 market size is expected to reach over $3.86 billion by 2028, showing a compound annual growth rate (CAGR) of 7.9% over the forecast period.
The demand for omega-3 supplements is likely driven by the increasing adoption of the element to maintain optimal health and meet the daily nutritional needs of members by elderly populations in emerging nations, such as Canada, the United Kingdom, the United States, and France. , states Vantage Market Research, in a report titled “Omega 3 Market By Theoretical Type (Docosahexaenoic Acid (DHA), Eicosapentaenoic Acid (EPA), By Source Outlook (Marine Source, Vegetable Source), By Application Forecast (Nutritional Supplements & Functional Foods, Pharmaceuticals, Infant Formula, Animal Feed & Pet Foods) ) by Region (North America, Europe, Asia Pacific, Middle East and Africa) – Global Industry Assessment (2016-2021) and Forecast (2022-2028)”.
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- In-depth industry analysis, introduction, overview, and outbreak of the COVID-19 pandemic.
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- The updated report includes the major market players with their sales volume, business strategy and revenue analysis using Vantage Market Research Methodology.
(Please note that the sample for this report has been updated to include a pre-delivery COVID-19 impact study.)
List of prominent players in the Omega 3 market:
- Royal DSM NV
- Orkla Health
- Aker Biomarine Antarctica S
- The Omega Protein Company
- BASF SE
- jc reaper oils
- Croda International PLC
- Vital algae
Driver: Use to feed pets
Omega-3 in pet nutrition is emerging due to its therapeutic ability to boost immunity and avoid degenerative diseases such as inflammatory bowel disease and arthritis in dogs and cats. Omega-3s are used to fortify foods, animal feeds, and nutritional supplements and can also be fed to producing animals and fish, thus enriching the eggs, milk, and meat they produce. Major manufacturers invest in items such as nutritional supplements and pet treatments. Moreover, flaxseeds are a rich source of omega-3 which is used as a nutrient for animals. The pet food sector is likely to grow in the coming years as pet owners demand health and wellness products.
Opportunity: Research and development of alternatives to obtain omega-3
Anchovies make up about 70%. of the market and the main source of Omega-3. End users in some regions of the world avoid fish-based products because of their aroma, taste, and nutritional choices. Therefore, fish oil manufacturers are studying new zooplankton (krill), new algae and genetically modified plants as alternative sources of omega-3 production. To meet the growing demand for DHA and EPA, research is developing large-scale microalgae cultivation by studying several strains to develop omega products. 3 cost-effective and viable.
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North America occupied the largest market share. The omega-3 market in the region is mainly dominated by the United States, with adults choosing to take omega-3 fish oil capsules obtained as dietary supplements. The Omega-3 market in North America is also represented by the presence of several players such as Cargill, Epax Norway AS, DSM and Arista Industries. These players are using innovative technologies on a large scale to meet consumer demand and enhance their productivity for value-added omega-3 products. The lack of omega-3 among citizens in Canada and the United States has greatly increased the demand for products containing omega-3.
- October 2019: KD Pharma introduced Kardio3, a blend of Vitamin K2, Omega 3 and Phytosterols. Supports heart and bone health and helps maintain healthy fats.
- September 2019Epax has announced an investment of $35 million over the next two years in the innovation of the omega-3 sector. This investment will allow Epax to obtain better capacity in the omega-3 sector at its main production site in Norway. It will facilitate the expanded concentration of EPA and DHA without causing oxidation, ultimately avoiding unwanted by-products.
- September 2019: Polaris launched Omegavie DHA 700 algae Sensory QualitySilver, which should help the company in the field of Omega 3 algae. The product is mainly concentrated with DHA and also has great sensory properties.
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Analysis of the impact of COVID-19:
The COVID-19 outbreak has affected many industries around the world. Governments around the world have implemented strict lockdown measures and social distancing measures in order to curb the rapid spread of the epidemic. Manufacturing facilities around the world were closed during the early stages of the pandemic. Moreover, the economic crisis that followed the pandemic may lead to a significant delay in the commercial spread of the omega-3 market. Hence, the market players faced many challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will be made available online. The impact of COVID-19 on market demand is considered while estimating the current and projected market size and market growth trends for all regions and countries based on the following data points:
- Assessing the impact of the COVID-19 pandemic
- North America
- Asia Pacific
- Latin america
- Middle East and Africa
- Quarterly revenue forecasts for the market from Asia Pacific 2020 and 2021
- Key strategies companies have taken to tackle COVID-19
- long term dynamics
- short term dynamics
A report on the Omega-3 market highlights:
- Market assessment
- Distinctive insights
- Competitive scene
- Analysis of the impact of COVID
- Historical data, estimates and forecasts
- Company Profile
- Global and Regional Dynamics
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This market is entitledomega 3 market It will cover the exclusive information in terms of regional analysis, forecasting, quantitative data – units, major market trends and various other information as mentioned below:
|Market size in 2021||2.27 billion US dollars|
|Expected market size in 2028||3.86 billion US dollars|
|CAGR growth rate||A compound annual growth rate of 7.9% from 2022 to 2028|
|Historic years||2016 – 2020|
|prediction years||2022 – 2028|
|covered slices||Outlook type: – Docosahexaenoic acid (DHA), Eicosapentaenoic acid (EPA)
Source expectations: – Marine source, vegetable source
Application prospects: – nutritional supplements, functional foods, pharmaceuticals,
|Quantitative data – units||Revenues in US$ Million/Billion and CAGR from 2022 to 2028|
|Covered areas||North America, Europe, Asia Pacific, Latin America, and
Middle East and Africa
|Countries covered||United States, Canada, Mexico, United Kingdom, Germany, France, Italy, Spain,
China, India, Japan, South Korea, Brazil, Argentina,
GCC countries, and South Africa, among others
|Report coverage||Market growth drivers, constraints, and opportunities, Porter
Five Forces Analysis, PEST Analysis, Value Chain Analysis,
Regulatory landscape, market attractiveness analysis by
sectors and region, analysis of the company’s market share,
and analysis of the impact of COVID-19.
Key questions answered in the report:
- Which regional market will show the highest rapid growth?
- Who are the top five players in the Omega-3 market?
- How will the omega-3 market change in the next six years?
- What application and product will take the lion’s share of the Omega 3 market?
- What are the Omega-3 market drivers and restraints?
- What will the CAGR and Omega-3 market size be throughout the forecast period?
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