Westford, USA, Jan. 25, 2023 (GLOBE NEWSWIRE) -- Consumer awareness of the advantages of polyunsaturated fatty acids for a healthy diet and body composition and increased investments in clinical research and development facilities are expected to boost the omega 3 market. Over the coming years, it is also projected that increasing chronic illness awareness and increased product utilization among active pharmaceutical ingredients (API) will drive the market. Moreover, manufacturers are offering sustainably sourced plant-based variants to meet the dietary needs of the vegan population for omega-3.
Omega-3 fatty acids are helpful in reducing the risk of cardiopathy and support glowing skin. These are consumed along with a healthy diet and regular exercise to help reduce levels of certain blood fat (triglycerides) and raise good cholesterol levels (HDL). Omega 3 is crucial for healthy growth and development and may be helpful in the prevention and treatment of several chronic conditions, including cancer, arthritis, diabetes, hypertension, coronary artery disease, and autoimmune diseases.
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Based on SkyQuest's market research, 15–58% of adults in developed countries struggle with more than one chronic condition. In addition, chronic diseases cause over 70% of death globally. In such circumstances, omega 3 products will likely gain higher traction in the coming years.
Docosahexaenoic Acid (DHA) Segment to Witness Swift Growth due to Increased Consumption among ADHD Patients
As per SkyQuest, the DHA segment accounted for 32.4% market share in 2022 and is anticipated to witness substantial growth to gain 38.7% in the omega 3 market by 2028. When performing a mental activity, DHA helps to reduce blood triglycerides while increasing HDL cholesterol and blood flow. Omega-3 fatty acids can help patients with ADHD who struggle with impulsive behaviors and focus issues. In addition, DHA has anti-inflammatory properties that can reduce the risk of chronic diseases like rheumatoid arthritis and other heart-related conditions.
Sales are anticipated to increase due to the shift in consumer preference toward a healthy diet that includes omega-3 components and the use of fish oil throughout Asia-Pacific. The third-largest market for EPA and DHA oils worldwide is China. Chinese consumers predominantly consume omega-3s in fish, supplements, and fortified meals. The industry for dietary supplements is dominated by omega-3 derived from fish oil, whereas the market for fortified foods and beverages is dominated by algal DHA oil.
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The most recent report on omega 3 market examines industry trends over the last several years. It includes some of the most important events and patterns likely to emerge as major market influencing factors. In addition, the market report provides a broader picture of the industry by using an informed market forecast related to leading market segments and sub-segments for the target market.
Supplements & Functional Foods Segment to Drive Major Sales due to Increasing Consumption of Sports Supplements
According to SkyQuest, the supplements and functional foods segment held a 48% revenue share in 2022 and is predicted to continue its dominance to reach 56.4% by 2028. The segment growth is attributed to the excellent advantages provided by omega 3, such as weight management, mineral fortification, and attractiveness advantages. In addition, sports supplements and functional food products are projected to become more popular as gym professionals and athletes in several nations, including China, Italy, India, and the U.S., become more aware of the need to cut calories.
North America held a 34.7% revenue share in 2022 to maintain its dominant position in the market. The regional market growth is due to the existence of well-known producers of pharmaceuticals based on omega 3. In addition, significant pharmaceutical corporations in this area are another factor driving demand.
For a complete perspective, the omega 3 market research report includes historical statistics and growth projections. It is an excellent resource for in-depth analysis of the market's segmentation, geographic reach, competitive environment, revenue, production, and consumption growth. Industry participants may better understand the market's current and future development using the report's reliable market data and statistical research.
Key Developments in Omega 3 Market
- Neptune Wellness Solutions Inc., a diversified health and wellness company, has launched Forest Remedies Multi Omega 3-6-9. It is a line of innovative supplements made with Ahiflower oil. Forest Remedies Multi-Omega supplements are a well-balanced mix of 3, 6, and 9 omega fatty acids that help with heart, brain, skin, and joint health.
- Orlo Nutrition has introduced a DHA Starter Kit and an algae omega-3 supplement to support the brain, heart, joints, and systems. The absorption rate of the supplement is three times that of other algae or fish oils. The algae are grown with 100% renewable resources and without the use of pesticides, hexanes, or environmental toxins. It's vegan, non-GMO, carbon-neutral, and comes in a post-consumer recycled cardboard box or padded envelope.
- Algarithm and Natures Crops International have collaborated to create two completely new omega oil blends for use as a supplement, food, and beverage ingredients. These new Ahiflower 80DHA and 150DHA blends are the only vegan omega source and partnership offering the broadest range of omegas with excellent sensory properties.
- MiAlgae, a Scottish biotech start-up, has received a new investment of £2.3 million ($2.8 million) to help drive the company's next growth stage. The company has created a novel biotechnology platform that grows microalgae rich in omega-3 oils using low-value coproducts from the food and beverage industries as feedstock.
The report on the omega 3 market highlights the strategies and market share of the market's leading vendors. In addition, the report adheres to a solid research methodology model that assists in making informed decisions. Furthermore, it gathers qualitative and quantitative market data, supplemented by multi-level research. The information also incorporates extensive competitor data, analysis, and insights to advance R&D systems.
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Prominent Players in Omega 3 Market
- DSM (Netherlands)
- Lonza Group (Switzerland)
- BASF SE (Germany)
- ADM (U.S.)
- Glanbia Plc (Ireland)
- SternVitamin GmbH & Co. KG (Germany)
- Farbest Brands (U.S.)
- BTSA Biotechnologias Aplicadas S.L. (Spain)
- Adisseo (France)
- Golden Omega (Chile)
- Rabar Pty Ltd (Australia)
- Sinomega Biotech Engineering Co. Ltd. (China)
- Kinomega Biopharm Inc. (China)
- Pharma Marine AS (Norway)
- Polaris (U.S.)
- ALGISYS LLC (U.S.)
- Huatai Biopharm (China)
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