Omega-3 Ingredients Market Analysis, Competitive Landscape, and Forecast by 2031

The omega-3 ingredients market is expected to grow from US$ 3 billion in 2022 to US$ 6 billion by 2031, at an estimated CAGR of 12.4% from 2022 to 2031.

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 2021, 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 2031" 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.

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Omega-3 Ingredients Market: Strategic Insights

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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.

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. 

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.

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.

Omega-3 Ingredients Market Regional Insights

The regional trends and factors influencing the Omega-3 Ingredients Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Omega-3 Ingredients Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Omega-3 Ingredients Market Report Scope

Omega-3 Ingredients Market Players Density: Understanding Its Impact on Business Dynamics

The Omega-3 Ingredients Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Omega-3 Ingredients Market are:

1. Arista Industries
2. Copeinca ASA
3. Croda, Inc
4. FMC Corporation,
5. Koninklijke DSM N.V

Disclaimer: The companies listed above are not ranked in any particular order.