According to the latest report by IMARC Group, titled “Omega 3 Ingredients Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global omega 3 ingredients market size reached US$ 2.6 Billion in 2022. Omega-3 ingredients are naturally occurring polyunsaturated fatty acids (PUFAs), such as docosahexaenoic acid (DHA), alpha-linolenic acid (ALA), and eicosapentaenoic acid (EPA). They are commonly found in the oils of cold-water fishes, including salmon, algal, krill, and tuna. Besides this, these components can also be obtained from plant-based sources such as brussel sprouts, hemp seeds, flaxseeds, soybean, and canola oils. Omega-3 ingredients offer numerous health benefits, including reducing harmful cholesterol levels and LDL (low-density lipoproteins) in the bloodstream, providing optimal energy, managing conditions like lupus, eczema, and rheumatoid arthritis, and supporting cell wall construction. As a result, they are broadly used in supplements, clinical nutrition, infant formulas, pet food, animal feed, and functional foods and beverages.
Global Omega 3 Ingredients Market Trends:
The rising consumer awareness and consciousness regarding health and wellness and the escalating prevalence of obesity and heart-related ailments across the globe are propelling the uptake of dietary supplements containing omega-3 ingredients. Besides this, the increasing product adoption to alleviate symptoms of metabolic syndrome and promote the proper functioning of the heart, lungs, blood vessels, immune system, and endocrine systems is creating a positive outlook for the market. In addition to this, the expanding product utilization in various cosmetic, sun care, hair care, personal care, and colored products due to their ability to provide balanced hydration, reduce breakouts, minimize signs of aging, and soothe irritated skin is acting as another significant growth-inducing factor. Moreover, the growing inclination towards high-quality supplement products, driven by inflating disposable incomes, busy schedules, and demanding lifestyles of consumers, is aiding in market expansion. Concurrent with this, the increasing use of omega-3 ingredients in animal feed or pet food and the implementation of government regulations supporting the nutritional claims of omega-3 in food products are strengthening the market growth. Furthermore, ongoing innovations and the incorporation of advanced technologies to eliminate environmental pollutants, prevent oxidation, and enhance resistance to high temperatures in the production of omega-3 ingredients, are contributing to the market growth. Looking forward, the market value is projected to reach US$ 4.8 Billion by 2028, expanding at a CAGR of 10.3% during 2023-2028.
- On the basis of the type, the market has been categorized into alpha-linolenic acid (ALA), docosahexaenoic acid (DHA), and eicosapentaenoic acid (EPA).
- Based on the source, the market is bifurcated into marine and plant sources. Among these, marine resources represent the biggest market segment.
- On the basis of the application, the market is segregated into supplements and functional foods, pharmaceuticals, infant formula, and animal feed. Currently, supplements and functional foods dominate the market, holding the largest share.
- Based on the region, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa. Presently, North America enjoys the leading position in the market.
- The competitive landscape of the market has also been examined, with some of the key players being Aker BioMarine ASA, Archer-Daniels-Midland Company, BASF SE, Cargill Incorporated, Cellana Inc., Clover Corporation Limited, Corbion N.V., Croda International Plc, Koninklijke DSM N.V., Omega Protein Corporation (Cooke Inc.), Pelagia AS, Pharma Marine AS and Polaris.
|Base Year of the Analysis
||Type, Source, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Aker BioMarine ASA, Archer-Daniels-Midland Company, BASF SE, Cargill Incorporated, Cellana Inc., Clover Corporation Limited, Corbion N.V., Croda International Plc, Koninklijke DSM N.V., Omega Protein Corporation (Cooke Inc.), Pelagia AS, Pharma Marine AS and Polaris
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