WASHINGTON, Jan. 26, 2022 (GLOBE NEWSWIRE) -- The Global Omega-3 Market size is expected to reach over USD 3.86 Billion by 2028, exhibiting a Compound Annual Growth Rate (CAGR) of 7.9 % during the forecast period.
Market Synopsis
The Omega-3 supplements demand is likely to be driven by the increasing adoption of the item to maintain optimum health and fulfill the daily nutritional needs of organs by the aged population in emerging nations, such as Canada, the U.K., the U.S., and France, states Vantage Market Research, in a report, titled “Omega-3 Market by Type Outlook (Docosahexaenoic acid (DHA), Eicosapentaenoic acid (EPA), by Source Outlook (Marine Source, Plant Source), by Application Outlook (Supplements & Functional Foods, Pharmaceuticals, Infant Formula, Animal Feed & Pet Food), by Region (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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- In-depth Industry Analysis, Introduction, Overview, and COVID-19 Pandemic Outbreak.
- Impact Analysis 160+ Pages Research Report (Including latest research)
- Provide chapter-wise guidance on request 2021 Updated Regional Analysis with Graphical Representation of Trends, Size, & Share, Includes Updated List of figures and tables.
- Updated Report Includes Major Market Players with their Sales Volume, Business Strategy and Revenue Analysis by using Vantage Market Research methodology.
(Please note that the sample of this report has been updated to include the COVID-19 impact study prior to delivery.)
List Of Prominent Players in the Omega-3 Market:
- Koninklijke DSM N.V.
- Orkla Health
- Aker Biomarine Antarctic AS
- Omega Protein Corp
- BASF SE
- Lonza
- GC Reiber Oils
- Croda International Plc
- Bio Process Algae
- LLC
- EPAX
Market Dynamics:
Driver: Use in Pet Nutrition
Omega-3 in pet nutrition is emerging owing to its therapeutic ability to enhance immunity and avert degenerative conditions like, inflammatory bowel disease and arthritis in dogs and cats. Omega-3 is used to fortify treats, animal feeds, and supplements and can also be fed to production animals and fish, thereby enriching the eggs, milk, and meat they produce. Key manufacturers are investing in items such as supplements and treats for pets. Furthermore, flaxseed is an omega-3-rich source which is used as an animal feed nutrient. The pet food sector is likely to grow in the coming years as pet owners demand for health & wellness products is rising.
Opportunity: Research & Development for Substitutes to Obtain Omega-3
Anchovy constitutes 70% approx. of the market and is the key source of omega-3. End users in some areas of the world avoid products which are fish-based due to the smell, taste, and dietary choices. Therefore, manufacturers of fish oil are considering new zooplanktons (krill), new algae, and genetically modified (GM) plants as substitute sources to produce omega-3. To fulfil the rising demand for DHA & EPA, research is developing cultivation of microalgae on a large-scale by studying several strains to develop cost-effective and viable omega-3 products.
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Regional Trends
North America held the largest market share. The Omega-3 Market in the region is dominated primarily by the US, as the adults opt to consume omega-3 capsules fish oil sourced as dietary supplements. The Omega-3 Market in North America is also represented by the presence of numerous players such as Cargill, Epax Norway AS, DSM, and Arista Industries. These players use innovative technologies extensively to meet the consumer demand and enhance their productivity for value-added Omega-3 products. Also, the deficiency of Omega-3 among the citizens in Canada and the US has impacted the surge in demand highly for omega-3-based products.
Recent Developments
- Oct, 2019: KD Pharma introduced Kardio3, a blend of vitamin K2, omega-3, and phytosterols. It supports heart and bone health and helps in maintaining healthy lipids.
- Sept, 2019: Epax announced an investment of USD 35 million over the next two years for the innovation of its omega-3 sector. This investment will allow Epax to have better capacity in the omega-3 sector at its main site of production in Norway. It will facilitate the extended concentration of EPA and DHA without prompting oxidation, which will ultimately avoid unwanted by-products.
- Sep, 2019: Polaris launched Omegavie DHA 700 algae Sensory QualitySilver, which would help the company in the field of algal omega-3. The product is majorly concentrated with DHA and also contains great organoleptic properties.
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COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the Omega-3 Market. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
The report on Omega-3 Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
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This market titled “Omega-3 Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Report Attribute | Details |
| Market Size in 2021 | USD 2.27 Billion |
| Projected Market Size in 2028 | USD 3.86 Billion |
| CAGR Growth Rate | CAGR of 7.9 % from 2022–2028 |
| Base Year | 2021 |
| Historic Years | 2016 - 2020 |
| Forecast Years | 2022 - 2028 |
| Segments Covered | Type Outlook: - Docosahexaenoic acid (DHA), Eicosapentaenoic acid (EPA) Source Outlook: - Marine Source, Plant Source Application Outlook: - Supplements & Functional Foods, Pharmaceuticals, Infant Formula, Animal Feed & Pet Food, Others |
| Quantitative Data - Units | Revenue in USD Million/Billion and CAGR from 2022 to 2028 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| 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 |
| 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. |
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Omega-3 Market?
- How will the Omega-3 Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Omega-3 Market?
- What is the Omega-3 market drivers and restrictions?
- What will be the CAGR and size of the Omega-3 Market throughout the forecast period?
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