Omega-3 Market by Type (Alpha-linolenic Acid, Docosahexaenoic Acid, Eicosapentaenoic Acid), Source (Animal Source, Plant Source), Application - Global Forecast 2024-2030

Omega-3 Market by Type (Alpha-linolenic Acid, Docosahexaenoic Acid, Eicosapentaenoic Acid), Source (Animal Source, Plant Source), Application - Global Forecast 2024-2030

The Omega-3 Market size was estimated at USD 2.89 billion in 2023 and expected to reach USD 3.10 billion in 2024, at a CAGR 7.52% to reach USD 4.80 billion by 2030.

The Omega-3 market encompasses the global production, distribution, and sale of Omega-3 fatty acids, essential polyunsaturated fats beneficial for human health. The omega-3 is crucial for brain function and normal growth and development. Growing public awareness about the benefits of Omega-3 fatty acids is driving consumer demand. The increasing incidence of chronic diseases globally leads to higher consumption of Omega-3-enriched products. Favorable regulations regarding fish farming and Omega-3 supplement production are stimulating market growth. However, overfishing and the environmental consequences of fish oil extraction are major concerns that could restrain market growth. The cost associated with extracting and processing Omega-3 fatty acids can limit market growth, particularly in cost-sensitive markets. Moreover, advancements in Omega-3 extraction technologies and the development of vegan omega-3 sources from algae create new market diversification and growth potential. The optimization of supply chains for better sustainability and cost-effectiveness can offer competitive advantages and open new avenues for market expansion.

Regional Insights

The Americas represents a significant share of the Omega-3 market due to its well-established healthcare sector and increasing consumer awareness about dietary supplements. The demand for Omega-3 in the United States is primarily driven by its applications in heart health, cognitive development, and overall wellness. Canada's cold-water fish resources make it an important Omega-3 manufacturing hub. Canadian consumers show a high preference for natural and sustainable health products, which has led to growth in the eco-friendly segment of Omega-3 products. The European market for Omega-3 is highly regulated, with stringent quality and sustainability standards. The demand is mainly for high-concentration, clinically supported Omega-3 products. In the Middle East, the increasing prevalence of lifestyle diseases has led to a surge in demand for Omega-3 supplements. However, consumer awareness remains relatively low compared to other regions. Africa's Omega-3 market is still in its infancy but shows potential for growth due to its vast population and increasing health awareness. In the APAC region, China is rapidly emerging as a major player in the Omega-3 market due to its immense population and growing health consciousness among consumers. Japan has a long-standing tradition of consuming fish, making Omega-3 an integral part of the diet. India's Omega-3 market is poised for rapid growth, driven by rising incomes and increasing awareness about nutritional supplements.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Omega-3 Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Increasing incidences of cardiovascular issues and awareness about the health benefits of omega-3
Growing wellness initiatives by private and public entities and the adoption of social media to improve customer outreach
Regulatory approvals for emerging omega-3 products

Market Restraints

Product recalls of omega-3 products and technical limitations affecting the efficiency and shelf-life of omega-3

Market Opportunities

Advancements to improve the safety, performance, and production of omega-3 products
Availability of plant-based and sustainable omega-3 products and expansion of online distribution channels for health products

Market Challenges

Complexities associated with production, sourcing, and environmental concerns of omega-3

Market Segmentation Analysis

Type: Need-based preference for Docosahexaenoic Acid (DHA) in infant formula
Application: Diverse applications of Omega-3 fatty acids in supplements & functional foods for health improvements

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Omega-3 Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Omega-3 Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Ritual Launches Omega-3 DHA and EPA Supplement

Ritual has unveiled a new product, the Omega-3 DHA + EPA supplement, featuring a potent 500 mg blend of these crucial fatty acids in an optimal 2:1 ratio. This innovative formula is derived from microalgae cultivated sustainably in La Forêt-Fouesnant, France, utilizing a proprietary technology that significantly diminishes oxidation, ensuring a fresher, more effective supplement. The oil ensures minimal aftertaste due to the inclusion of natural citrus oil, enhancing its palatability.

Nutriterra Launches Powdered Omega-3 Canola Oil with Partner Company Connoils

Nuseed Nutritional U.S. Inc. announced that it has selected Connoils as the exclusive partner for producing a powdered formulation of its product called the Nutriterra DHA Canola oil. The new format would expand potential applications for the plant-based source of DHA from a genetically engineered canola, including in beverages and functional foods. As part of the partnership, Connoils aims to use low-temperature electrostatic dehydration to achieve encapsulation and maintain optimal nutritional integrity.

DSM-firmenich to Launch Algal Omega-3 with EPA/DHA Ratio Matching Fish Oil

DSM-firmenich, an ingredient supplier, announced the launch of a new algal omega-3 ingredient called life’s OMEGA 03020 in North America. The single-source omega-3 ingredient has the same ratio of eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA) as fish oil. The ingredient, which contains a 1.5:1 EPA to DHA ratio, offers dietary supplement brands a more sustainable algal source.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Omega-3 Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Omega-3 Market, highlighting leading vendors and their innovative profiles. These include AlgiSys, LLC, Amway Corporation, Archer Daniels Midland Company, Atmantan Naturals, BASF SE, BTSA BIOTECNOLOGÍAS APLICADAS S.L,, Cargill, Incorporated, Corebolics, Evonik Industries AG, GNC Holdings, LLC, Grøntvedt Biotech, Higher Nature Ltd, Kerry Group plc, Koninklijke DSM N.V., MiAlgae Ltd, Moller by Orkla ASA, Natals, Inc., Nestlé S.A., Nordic Naturals, NOW Health Group, Inc, Pure Foods, Reckitt Benckiser Group plc, Transparent Labs, U.G.A. Nutrasceuticals Srl, and Unilever PLC.

Market Segmentation & Coverage

This research report categorizes the Omega-3 Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
Alpha-linolenic Acid
Docosahexaenoic Acid
Eicosapentaenoic Acid
Source
Animal Source
Plant Source
Application
Animal Feed & Pet Food
Infant Formula
Pharmaceuticals
Supplements & functional foods
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year