Omega-3 ingredients Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

Coverage: Omega-3 Ingredients Market covers analysis by Type [Eicosapentaenoic Acid (EPA), Docosahexaenoic Acid (DHA), and Alpha-Linolenic Acid (ALA)], Source [Plant (Flaxseeds, Chia Seeds, Walnuts, and Others) and Marine (Fish, Algae, Krill, and Others)], Application [Food & Beverages (Infant Formula, Fats and Oils, Dairy and Frozen Desserts, Beverages, and Others), Pharmaceutical and Nutraceuticals, and Others], and Geography (North America, Europe, Asia Pacific, and South and Central America)

Publication Month : Mar 2024

  • Report Code : TIPRE00010452
  • Category : Food and Beverages
  • Status : Upcoming
  • No. of Pages : 150
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The omega-3 ingredients market is expected to grow from US$ 3 billion in 2022 to US$ 6 billion by 2028, at an estimated CAGR of 12.4% from 2022 to 2028.

Omega-3 ingredients consist of Eicosapentaenoic acid (EPA), Docosahexaenoic acid (DHA), and Alpha-linolenic acid (ALA), which are necessary for maintaining overall health and wellness. Omega-3 ingredients are not synthesized by the human body, and thus, individuals need to supplement their diet with different dietary supplements, which can be consumed in the form of desserts, juices, etc.

MARKET DYNAMICS

Health awareness among people has increased significantly in recent years, as people, nowadays, are unable to concentrate on their health, fitness, and regular diet through busy lifestyles and hectic work schedules. As a result, the prevalence of obesity, diabetes, high blood pressure, skin problems, digestive issues, and other diseases has surged considerably. With this, preventive healthcare products and dietary supplements have gained popularity among the masses. Omega-3 ingredients are majorly used in the commercial synthesis of nutritional supplements. In 2019, the US Food and Drug Administration (FDA) announced new health claims for the use of omega-3 ingredients in food and dietary supplements meant to avoid the risk of hypertension and coronary heart disease.

MARKET SCOPE

The "Global Omega-3 Ingredients Market Analysis to 2028" is a specialized and in-depth study of the omega-3 ingredients market with a special focus on the global market trend analysis. The report aims to provide an overview of the market with detailed segmentation. It provides key statistics on the status of leading market players and describes major trends and opportunities in the market.

Strategic Insights

MARKET SEGMENTATION

The global omega-3 ingredients market is segmented on the basis of type, source, and application. Based on type, the market is segmented into eicosapentaenoic acid (EPA), docosahexaenoic acid (DHA), and alpha-linolenic acid (ALA). In terms of source, the market is bifurcated into plant and marine. The market for the plant segment is further divided into flaxseeds, chia seeds, walnuts, and others, whereas the marine segment is further classified as fish, algae, krill, and others. Based on application, the omega-3 ingredients market is segmented into food & beverages, pharmaceuticals and nutraceuticals, and others. The market for the food & beverages segment is sub segmented into infant formula, fats and oils, dairy and frozen desserts, beverages, and others.


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REGIONAL FRAMEWORK

The omega-3 ingredients market is segmented into five major regions North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. The report entails the analysis and forecast of the market in 18 countries, along with current trends and opportunities prevailing in the major regions.

North America dominated the omega-3 ingredients market in 2021. Omega 3 ingredients are mainly extracted and processed in North America as a large number of dietary supplement manufacturers and chemical processing companies are functional in the region. Consumers' interest in omega-3 ingredients is increasing in the US due to the rising prevalence of neurological disorders. The American Heart Association (AHA) suggests people to eat fish, particularly cold-water fish, twice a week to maintain optimum omega-3 levels in their diet. Further, rising healthcare expenditures, changing dietary habits, and increasing per capita incomes are a few of the key factors supporting the growth of the omega-3 ingredients market across North America. 

Omega-3 ingredients Market

Source: The Insight Partners Analysis

The report analyzes drivers, restraints, opportunities, and future trends as the key factors impacting the omega-3 ingredients market. It also provides an exhaustive Porter's five forces analysis, highlighting the factors influencing the market in these regions.

IMPACT OF COVID-19 PANDEMIC

The COVID-19 pandemic has had a mixed impact on the overall omega-3 ingredients market. The imposition of the lockdown led to the temporary discontinuation of various manufacturing activities, disrupting the supply chains, which substantially impacted the omega-3 ingredients market. In addition, travel restrictions resulted in irregularities and uncertainties in the transportation of raw materials. However, consumers became highly concerned about their health and fitness during this global health crisis, which propelled the demand for immunity-boosting health supplements. Moreover, people began focusing more on physical and mental fitness by performing activities such as yoga, exercises, and Zumba to improve their health, which created strong opportunities for the manufacturers of functional food and beverages. Omega-3 ingredients are used in a wide range of functional food and beverages. Manufacturers from the food & beverages and nutraceuticals industries are increasingly incorporating omega-3 ingredients as a major source of nutrients in their products.

In 2021, the global marketplace witnessed a resurgence as governments of various countries announced relaxations in several social restrictions, including lockdowns. Manufacturers resumed their operations at full capacities, which helped them overcome the demand and supply gaps. Many also expanded their production capacities to meet the rising consumer demands for omega-3 ingredients.

World Geography

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MARKET PLAYERS

The report highlights key organic and inorganic growth strategies undertaken by companies in the omega-3 ingredients market. Various companies are focusing on organic growth strategies such as product launches and approvals, patents, and events. Acquisitions, partnerships, and collaborations are the inorganic growth strategies witnessed in the market. Both, organic and inorganic activities have paved the way for the expansion of businesses and customer bases.

This report on the omega-3 ingredients market includes key company profiles, along with their SWOT analysis and market strategies. It focuses on company profiles, component and service offerings, financial information (last three years), and key development (past five years) of leading market players.

Key Companies Operating in the Omega-3 Ingredients Market

  • Cargill, Incorporated
  • BASF Corporation
  • Pharma Marine AS
  • Croda International Plc
  • POLARIS
  • Epax
  • DSM
  • Omega Protein
  • Cellana Inc
  • Clover Corporation Limited

The dedicated research and analysis team of The Insight Partners consists of experienced professionals with advanced statistical expertise, and they offer various customization options in the existing study.Market Research

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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type, Source, Application, and Geography

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina

The List of Companies

1. Arista Industries
2. Copeinca ASA
3. Croda, Inc
4. FMC Corporation,
5. Koninklijke DSM N.V
6. Neptune Wellness Solutions Inc
7. NU-MEGA Ingredients Pty Ltd
8. Omega Protein Corporation
9. Polaris S.A
10. Pronova BioPharma ASA

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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