The omega-3 ingredients market is expected to reach at US$ 6 billion by 2028, registering at a CAGR of 12.4% from 2022 to 2028, according to a new research study conducted by The Insight Partners.
Growing Awareness Regarding Health and Wellness Boost Demand for Omega-3 Ingredients
Omega-3 Ingredients Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: 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)
Omega-3 ingredients Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
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Source: The Insight Partners Analysis
Many dietary supplement products contain omega-3 ingredients that support heart health. A rise in consumer inclination toward high-quality nutritional supplements owing to stressful and hectic lifestyles is boosting the demand for omega-3 ingredients among dietary supplement manufacturers. The consumption of omega-3 dietary supplements, combined with regular physical exercises, helps improve metabolic and cardiovascular health.
The prevalence of certain diseases, including diabetes, heart diseases, and obesity, has increased significantly in recent years due to changes in lifestyles, unhealthy eating habits, and lack of physical activities. According to the Centers for Disease Control and Prevention (CDC), the prevalence of obesity in the US was 41.9% during 2017–2020. Thus, a rise in health concerns among consumers with the elevated prevalence of lifestyle diseases has led to a high preference for health and wellness products. In addition to this, a surging demand for brain health-promoting products and nutraceutical products among youngsters has been the major factor driving the demand for omega-3 ingredients worldwide. Though the consumption of omega-3 ingredient-based dietary supplements is not strictly associated with any age group, they are highly popular among working adults.
Based on source, the omega-3 ingredients market is segmented into plant and marine. The plant segment is expected to register a higher CAGR from 2022 to 2028. Increasing willingness to contribute to animal protection and welfare, and environmental sustainability is favoring the trend of veganism. With rising consumer preference for plant-based and vegan food consumption, the demand for omega-3 ingredients sourced from plants is increasing among manufacturers.
Manufacturers in the omega-3 ingredients market are investing in strategic development initiatives to improve their market sustainability. For instance, in May 2020, DSM expanded its nutrition portfolio with ARA and DHA powder, with a special recommendation in infant nutrition. This powder contains a minimum 110 mg DHA and ARA, and it is sourced from sustainable vegetarian DHA omega-3 and ARA omega-6. Such products are expected to gain huge traction among consumers, driving the omega-3 ingredients market growth.
Cargill, Incorporated; BASF Corporation; Pharma Marine AS; Croda International Plc; POLARIS; Epax; DSM; Omega Protein; Cellana Inc; and Clover Corporation Limited are a few of the key players profiled during this study on the omega-3 ingredients market. Several other major companies were also analyzed to get a holistic view of the market and its ecosystem.
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