Omega 3 Ingredients Market - Global Industry Analysis

Omega 3 Ingredients Market By Product (DHA and EPA), By Source (Anchovy/sardine oils, High concentrates, medium concentrates, Low concentrates, Algae oils, Tuna Oils, Cod liver oils, Salmon oils, Krill oils and Mehaden Oils), By Application (Dietary Supplements, Functional Foods, Pharmaceutical, Infant Formulas and Pet & Animal Feed) By Animal & Pet Feed (Aquaculture, Livestock and Pet food) and By Region – Global Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data and Forecasts 2022 – 2028

Published Date: 28-Apr-2022 Category: Food & Beverage Report Format : PDF Pages: 110 Report Code: ZMR-2612 Status : Published

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.

Description

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.

Global Omega 3 Ingredients Market

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:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

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.

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.

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

Table Of Content

Methodology

Free Analysis

Omega 3 ingredients are fatty acids necessary for optimal health. Omega 3 fatty acids consist of carbon atom chains linked together by chemical bonds. On one terminal of carbon chain is a methyl group and on the other end is a carboxyl group. The bonds between carbon atoms are either double or single. Single bonds contain an increased number of hydrogen molecules around them than double bonds. Chemical bonds determine whether fatty acids are saturated or unsaturated. Omega 3 ingredients are predominantly present in natural, whole, and fresh food. 

Various health benefits associated with omega 3 ingredients and its high consumption through different food products are the key factors driving the growth of the global omega 3 ingredients market. Growing application of omega 3 fatty acids in different sectors and increasing adoption of healthy lifestyles are anticipated to boost the omega 3 ingredients market within the forecast period. Algae Omega 3 ingredients are the emerging source of omega 3 fatty acids and its application in infant food fortification is anticipated to grow significantly over the forecast period.

Global Omega 3 Ingredients Market

Based on the product type, the omega 3 ingredients market is divided into ALA, DHA, and EPA. Products of docosahexaenoic acid (DHA) accounted for the largest market share in terms of revenue in 2017. Certain health benefits associated with DHA such as reducing bad cholesterol and stabilizing blood pressure are the key factors fueling the growth of the segment. Based on source type, the omega 3 ingredients market is divided into nuts and seeds, vegetable oils, marine, and soya. Marine segment is dominating the global omega 3 ingredients market. Nuts and seeds segment is anticipated to grow at highest CAGR within the forecast period. Based on application, the omega 3 ingredients market is divided into infant formula, supplements & functional foods, animal feed, and pharmaceuticals. Supplements & functional foods segment accounted for the largest market share in terms of volume in 2017. Rapidly evolving pharmaceutical industry is expected to boost the demand for omega 3 ingredients in pharmaceutical application within the forecast period.

By geography, North America accounted for a major market share in terms of revenue in 2017. Europe is the second key region in terms of revenue and is anticipated to exhibit significant growth within the forecast period. Growing pharmaceutical applications and high per-capita income are the key drivers of the omega 3 ingredients market in the region. The omega 3 ingredients market in the Asia Pacific is anticipated to grow at highest CAGR within the forecast period owing to expanding end-use industries such as infant formula and pharmaceuticals coupled with high consumption of omega 3 ingredients through functional foods and supplements. Growing awareness regarding the health benefits of omega 3 ingredients is expected to fuel the omega 3 ingredients market growth in Latin America within the forecast period.

The key companies are focusing on the new product development and acquisition & collaboration strategies in order to expand business in different regions of the world. Some of the key players included in the global omega 3 ingredients market are BASF SE, NU-MEGA Ingredients Pty Ltd., Koninklijke DSM NV, Ocean Nutrition Canada Limited, Pronova BioPharma ASA, Croda International Plc., Omega Protein Corporation, FMC Corporation, Copeinca ASA, Arista Industries, Inc., and Koninklijke DSM N.V.

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FrequentlyAsked Questions

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.

According to the Market Research report, 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.

Growing demand for healthy food in North America due to increased food-borne disease awareness and a growing food industry is expected to drive the growth of this global market over the forecast period.

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.

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