Omega 3 Ingredients Market Size, Share, Growth Report 2030

Omega 3 Ingredients Market: Industry Prospective

The global Omega 3 Ingredients market was worth around USD 2,954.80 million in 2021 and is estimated to grow to about USD 4409.56 million by 2028, with a compound annual growth rate (CAGR) of approximately 6.90 percent over the forecast period. The report analyzes the Omega 3 Ingredients market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Omega 3 Ingredients market.

Omega 3 Ingredients Market: Overview

Growing consumer preference for the health benefits of various supplements has fueled the demand for omega-3 ingredients, which are classified as essential fatty acids. Omega 3 ingredients are organic compounds derived from plants and the sea. Walnuts, flaxseeds, vegetable oils, chia seeds, and other plant sources of omega 3. Shellfish, sardine, salmon, haddock, and other marine sources of omega 3 ingredients. Omega 3 supplements play a crucial role in functional foods by raising the polyunsaturated fatty acid concentration in staples, as they are required fatty acids that the human body cannot synthesize. Because omega 3 compounds are so significant in nutraceuticals and are consumed all over the world, the outlook is projected to be good for the foreseeable future.

The global demand for Omega 3 ingredients has been driven primarily by the demand for brain health and nutraceutical products for children. Though Omega 3 ingredients are not age-restricted, working adults consume a lot of them to boost metabolic activities and cognitive health. Omega 3 ingredients have been shown to benefit both physical and mental health, so it is used as a dietary supplement as well as preventive medicine, opening up new opportunities for manufacturers all over the world. Many dynamic Omega 3 ingredient players have continued to represent their products in the global market over the years, which has increased product quality and quantity across various geographical regions. Along with their use in pharmaceuticals, omega 3 ingredients are widely used in feed processing, as they are one of the most important components in adding nutritional value to pet foods.

Request Free Sample

COVID-19 Impact:

The impact of COVID-19 created opportunities for manufacturers of health-related products, particularly dietary supplements. The respective market has been prompted by an increase in consumer perception of these products as beneficial in maintaining immunity and fighting the deadly virus. As a result, the demand for associated ingredients such as algae omega-3 increases.

Omega 3 Ingredients Market: Growth Drivers

Drivers:

Omega 3 ingredients have well-defined supply chains and distributions all over the world due to their multi-utility. Consumer demand for Omega 3 ingredients is increasing as it has become an essential part of the daily diet, which is expected to drive the global Omega 3 ingredients market positively.

Restraint:  

Specific input costs for suppliers have been rising and show no signs of abating this year. The rising cost of raw materials, particularly natural ingredients, has reduced the profit margins of many small-scale suppliers. Furthermore, fluctuating input costs and labor costs have impacted the profit margins of suppliers and distributors and continue to rise. Furthermore, one of the defining factors impeding market growth is a lack of consistency in standards and guidelines in the global Omega3 ingredients market.

Report Scope:

Opportunities:

Omega 3 ingredients have been shown to benefit both physical and mental health, so it is used as a dietary supplement as well as preventive medicine, opening up new opportunities for manufacturers all over the world.

Global Omega 3 Ingredients Market: Segmentation

The global Omega 3 Ingredients market is segregated based on Product, Source, Application, and Animal & Pet feed.

Based on Product, the market is segmented into DHA and EPA. In 2021, the market for omega 3 components was dominated by products containing docosahexaenoic acid (DHA). Due to specific health benefits such as regulating blood pressure, lowering bad cholesterol, and preventing coronary heart disease, EPA/DHA consumption is gaining favor over alpha-linoleic acid (AHA). As a result, the omega 3 ingredients market is predicted to rise throughout the forecast period.

By Source, the market is segmented into Anchovy/sardine oils, High concentrates, medium concentrates, Low concentrates, Algae oils, Tuna Oils, Cod liver oils, Salmon oils, Krill oils, and Menhaden Oils. The salmon oil segment dominates the market. Salmon oil contains omega-3 fatty acids, which are necessary for human health. They reduce inflammation and improve brain function, which helps to prevent ailments like heart disease and macular degeneration. It's also gaining traction in the pet food industry. The rising humanization of pets, the growing number of nuclear families leading to an increase in pet adoption, and improved awareness of pet health will all boost the usage of salmon oil in pet food.

Recent Developments

• In 2020, Omega 3 concentrate is now available in powder form from Wiley Companies.

Omega 3 Ingredients Market: Regional Landscape

Europe, followed by North America and the Asia Pacific, accounted for the majority of revenue in the global omega 3 ingredients market in 2021, and this trend is expected to continue over the forecast period. Growing demand for healthy food in North America due to increased food-borne disease awareness and the growing food industry is expected to drive the growth of this global market over the forecast period. In countries where both the adult and infant populations are growing, such as China, the demand for infant nutrition and baby food is constantly increasing. Parents with hectic schedules and little time to prepare meals are increasing their demand for omega-3-fortified infant nutrition.

Omega 3 Ingredients Market: Competitive Landscape

Some of the main competitors dominating the global Omega 3 Ingredients market include- BASF, Koninklijke DSM N.V., Clover Corporation, Croda International plc, Omega Protein, Nordic Naturals, Inc., Copeinca ASA, Epax Norway AS, Arista Industries, Inc., GC Rieber, Solutex, OLVEA, and Lysi.

Global Omega 3 Ingredients market is segmented as follows:

By Product

• DHA
• EPA

By Source

• Anchovy/sardine oils
• High concentrates
• medium concentrates
• Low concentrates
• Algae oils
• Tuna Oils
• Cod liver oils
• Salmon oils
• Krill oils
• Menhaden Oils

By Application

• Dietary Supplements
• Functional Foods
• Pharmaceutical
• Infant Formulas
• Pet & Animal Feed

By Animal & Pet feed

• Aquaculture
• Livestock
• Pet food

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa