Omega 3 Market Will Reach Nearly USD 4.5 Billion by 2030, Expanding at a CAGR of 7.7%
The Global Omega-3 Market is projected to reach USD 4.5 billion by 2030. The Omega-3 market is fueled by the rising awareness for food nutrition and dietary improvements. Also, various factors such as the developing economies and subsequently increasing income of consumers, adoption of e-commerce and m-commerce platforms, and demand for the overall organic supplements & functional foods are expected to create enforcements in the market.
Avocado benefits, avocado benefits for skin, avocado nutrition, avocado benefits for hair, avocado oil benefits, avocado recipes, omega-3 fatty acids for dogs, omega-3 fatty acids benefits, omega-3 fatty acids capsules, omega-3 foods, omega-3 capsules, omega-3 fish oil, fish oil supplements, fish oil pills, fish oil dosage, omega-3 supplements vegan, omega-3 weight loss, to name a few are some of the most crucial corresponding factors and topics that have been influencing the market growth in many ways, have been additionally discussed in details in the report.
While dietary improvement is a desirable goal for many common individuals ranging in various age bands, changing dietary patterns seems extremely hard for most of them also. Thus, it is becoming a common practice that many people are consuming additional dietary supplements to augment the daily intake of nutrients so that they may lead a healthier lifestyle. Additionally, rising numbers of patients with heart diseases, inflammatory bowel diseases, and eyesight problems, among others, are the reasons the demands for the omega 3 are being raised.
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The COVID-19 impact:
The COVID-19 pandemic has created endless disruptions to the manufacturing or production industries due to a shortage of resources in different parts of the world. The leading players in the industry are skeptical about the market’s future and try to redesign their strategies to support the challenge. The pandemic had a serious impact on the distribution chains as a result of regular lockdowns. The manufacturing industries have been disrupted due to reduced available human resources. The companies are incorporating different techniques to increase the production volume and trying to develop innovative solutions at an affordable price, which can meet customer requirements at a much lower cost.
Further key findings from the report suggest
- Owing to the unavailability of certain seafoods or fishes, a deficiency of the omega 3 has been observed amongst the children. Even many adults are suffering from malnutrition and being diagnosed with many chronic diseases. An immense demand for the omega 3 supplements have been estimated to get rid of those complexities and diseases.
- The overall dietary supplement sales for children are expected to rise during the forecast period. It was observed that Chinese and Indian parents were willing to spend relatively large amounts of money on the health of their children in relation to the family income.
- A new trend emerging in the dietary supplements market is the need to use organic or sustainable ingredients. This trend is being driven by two fundamental shifts in this industry: the need to consume ‘healthier’ ingredients and consumers’ increasing concerns for sourcing ‘sustainable’ products
- In March 2020, Wiley Companies, an Omega-3 fish oil manufacturer, revealed its formulations of a new omega-3 concentrate in powder form. This was the first launch from the company in terms of the powder formulation.
- In December 2019, Nordic Investment Bank & the Norwegian producer of the pelagic fish products, Pelagia Holding AS refinanced for the acquisition of Epax Norway AS, a renowned omega 3 fatty acid producer.
- Key participants include BASF, Orkla Health, KD Pharma, Lonza, Corbion, Nordic Naturals, Croda International, Epax, Runke Bioengineering, and Pharma Marine, among others.
For the purpose of this report, Reports and Data have segmented into the global on the basis of type, source, end-use verticals, and region:
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Type Outlook (Revenue, USD Billion; 2019–2030)
- Docosahexaenoic Acid (DHA)
- Eicosapentaenoic Acid (EPA)
- Alpha-Linolenic Acid (ALA)
Source Outlook (Revenue, USD Billion; 2019–2030)
- Vegetable Oils
- Nuts and Seeds
- Soya and Soya Products
End-Use Outlook (Revenue, USD Billion; 2019–2030)
- Nutraceuticals & Supplements
- Food & Beverages
- Personal Care
- Infant Formulas
- Fish Feed
Regional Outlook (Revenue, USD Billion; 2019-2030)
- North America
- Rest of Europe
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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