Omega3 (Omega-3) Market Size, Trends, Share, Growth, and Opportunity Forecast, 2024 - 2031 Global Industry Analysis By Type (Alpha-linolenic Acid (ALA), Eicosapentaenoic acid (EPA), and Docosahexaenoic Acid (DHA)), By Source (Marine-based, and Plant-based), By End-use (Dietary Supplements, Functional Foods & Beverages, Pharmaceuticals, Veterinary Supplements, Infant Nutrition Formulas, and Others), By Sales Channel (Pharmacies, Drug Stores, Specialty Stores, Online Retailing, and Others) and By Geography (North America, Europe, Asia Pacific, South America, and Middle East & Africa)

The Global Omega3 (Omega-3) Market was valued at USD 2.41 Billion in 2023 and is anticipated to reach a value of USD 4.30 Billion by 2031 expanding at a CAGR of 7.6% between 2024 and 2031.

Omega-3 fatty acids (omega-3) are a group of polyunsaturated fats that are essential for a several functions in the body. The omega-3 fatty acids ALA, EPA and DHA are appear in seafood, such as fatty fish, and shellfish. Our body can’t produce the required amount of omega-3s need to survive. They are very essential nutrients for various body functions and must be consumed through diet. They are considered conditionally essential because human body can’t produce them on its own, which makes them crucial to get from food sources or supplements. It significantly helps in the prevention and treatment of cardiovascular diseases. Omega-3 fatty acids are “healthy fats” that may support your heart health. Omega-3 is known to have many health benefits, including lower blood pressure, reduce triglycerides, reducing the risk of stroke, reduce the chance of abnormal heart rhythm, reducing inflammation, and improving mental health. The market is influenced by factors such as rising popularity of dietary supplements, increased awareness of health benefits, rising incidence of chronic diseases, and increasing consumption in pharmaceuticals industry.

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Omega3 (Omega-3) Market Major Driving Forces

Rising Popularity of Dietary Supplements: One of the major factor driving the growth of Omega3 market is the increasing popularity of dietary supplements. Omega-3 fatty acids have several benefits, including heart health, mental health, and brain development in infants.

Increased Awareness of Health Benefits: The market for omega3 (omega-3) is growing significantly due to the increased awareness of the health benefits of omega-3 fatty acids. The omega-3 fatty acids help to reduce the risk of abnormal heartbeats or arrhythmias. Omega-3s are becoming popular as they are a good source of vitamins, proteins, and minerals, and can help in prevention of various diseases.  

Rising Incidence of Chronic Diseases: The increasing incidences of chronic diseases such as cardiovascular diseases, cancer, asthma, and inflammatory conditions has fueled demand for omega-3 fatty acids.  Omega-3s helps in reducing inflammation, and prevention of these chronic diseases.

Increasing Consumption in Pharmaceuticals Industry: The rising consumption of omega-3 in the pharmaceuticals industry is driving the growth of the market. The growing number of omega 3 pharmaceutical product launches by major companies due to increasing product application scope in medicines, is boosting the market growth.

Omega3 (Omega-3) Market Key Opportunities

Increased Demand for Plant-based Diets: The increasing demand for plant-based sources of omega-3s is anticipated to provide opportunities for the market growth. The growing trend towards veganism and vegetarianism will boost in demand for plant-based fatty acids. Advancements in agriculture and food processing have made it possible to develop plant-based omega-3 sources.

Growing Use for Animal Feeds and Medications: The increasing use of omega-3 for animal feeds and medications is expected to create significant market growth opportunities. Major players can develop innovative omega-3 feed formulations for the animal health benefits. Omega3 (omega-3) play a significant role in animal health and nutrition by improving overall health.

Technological Innovations: The ongoing technological innovations in the omega-3 products to meet evolving demand of consumers. Technological advancements in delivery and absorption of these fatty acids is anticipated to provide growth opportunities. Additionally, advancements in processing and extraction techniques can fuel the market demand.

Omega3 (Omega-3) Market Key Trends

·         The rising trend of veganism and vegetarianism is boosting demand for plant-based omega-3 fatty acids

·         The growing trend of consumers choosing healthier alternatives and looking for preventive care is driving adoption of omega-3

·         The rise in the prevalence of health conditions caused by a sedentary lifestyle has led to the exploration of various ingredients that can maintain overall health

·         With the increasing environmental awareness, consumers are seeking for sustainably sourced omega-3 products

·         The rising use of omega-3 fatty acids in wide range of functional food and beverages, including dairy products, juices, and snacks

·         The trend towards personalized nutrition is influencing the Omega-3 fatty acids market growth

·         Increasing awareness among consumers about health products is another significant trend in the omega3 (omega-3) market

Region-wise Market Insights

North America accounted for the largest market share at 37.1% in 2023 whereas, Asia Pacific is expected to register the fastest growth, expanding at a CAGR of 8.0% between 2024 and 2031.

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In North America, the demand is driven by the increasing awareness of the health benefits of omega-3, presence of major manufacturers, large health-conscious population, and rising incidences of chronic diseases in the region. Additionally, the rising trend towards veganism is boosting demand for plat-based alternatives, rising consumption in the pharmaceuticals industry, and the growing research and development activities related to product are further influencing the market growth. In Europe, the market is driven by increasing demand for plant-based and sustainable products, and consumer preferences for vegan options. In Asia-Pacific, the market is characterized by rising disposable incomes, growing spending on healthcare products, rising prevalence of chronic diseases, and growing geriatric population which has created an increasing demand for omega-3s. The Middle East and Africa has been witnessing a growing demand for omega-3s with increasing health consciousness whereas, in Latin America, the market is influenced by rising awareness of health benefits, and burgeoning middles class with increasing disposable incomes.

Market Competition Landscape

The global omega3 (omega-3) market is characterized by high degree of competition among a large number of players. Key players in the omega3 (omega-3) market engage in strategies aimed at gaining a competitive edge. These strategies include product innovation, design differentiation, and the incorporation of sustainable and eco-friendly materials to meet evolving consumer preferences. Established brands leverage their reputation for quality and reliability to maintain market share, while newer entrants focus on disruptive innovations and unique selling propositions.

Prominent players are increasingly focused on research and development to drive innovation in the products. Additionally, some of the major players are investing in developing plant-based and sustainable Omega-3 products.

Key players in the global omega3 (omega-3) market implement various organic and inorganic strategies to strengthen and improve their market positioning. Prominent players in the market include:

·         DSM

·         BASF SE

·         Epax

·         Golden Omega

·         TASA

·         Omega Protein Corporation

·         Croda International Plc

·         Arista Industries

·         KD Pharma Group SA

·         Lonza  

·         GC Rieber

·         Polaris

·         BioProcess Algae, LLC

·         KinOmega Biopharm Inc.