Omega-3 Fatty Acids Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Omega-3 Fatty Acids Market
The global omega-3 fatty acids market size was valued at USD 1.54 billion in 2020 and is projected to grow from USD 1.62 billion in 2021 to USD 2.24 billion by 2028, exhibiting a CAGR of 4.80% during the forecast period of 2021-2028.
The pandemic affected the omega-three fatty acids industry primarily through disruptions in the delivery chain, the regulation of manufacturing processes, and limited access to raw materials. However, the customer's increasing awareness of fitness benefits and anti-germ houses of omega-3 raised consumers' demand for omega-3 supplements, partially decreasing the poor impact and delaying omega-3 fatty acids market growth.
The omega-3 Fatty Acids Market is driven by the constantly increasing understanding of fitness benefits, emerging recognition of dietary supplements, and escalating usage of goal components, pharmaceuticals, and infant vitamins.
Smart era integration is revolutionizing the sterilization field marketplace. By incorporating RFID and barcode technology, actual-time monitoring and monitoring of sterilization boxes is enabled, improving stock control and decreasing errors, expanding the global omega-3 fatty acids market share. Additionally, superior sensors and statistics logging capabilities allow for tracking essential parameters like temperature, stress, and humidity at some point in the sterilization technique, ensuring effective sterilization and enhancing exemplary management. These improvements make contributions to a more efficient and reliable sterilization process.
Comprehensive Analysis of Omega-3 Fatty Acids Market
The Omega-three Fatty Acids Market is segmented by source and application. The concentrates phase leads the marketplace because of its high purity and wealthy EPA and DHA content. At the same time, alternatives like krill oil, algae, and plant-based resources cater to sustainability and vegetarian demands. By application, nutritional supplements dominate, pushed through their health blessings for coronary heart, brain, and infant improvement, along with advancements in personalized vitamins. Functional ingredients are unexpectedly developing, with growing incorporation in snacks, Little One formulations, or pet food, reflecting growing patron recognition of fitness and well-being.
The North America region led the omega-3 fatty acids market by benefitting a size of USD 0.62 billion in 2020 due to increasing attention to the health advantages associated with polyunsaturated fatty acids. The North American market has experienced a boom.
The leading players in the Omega-3 Fatty Acids Market significantly influence its growth trajectory and set industry standards. These key players, including Royal DSM N.V. (Netherlands), Evonik (Germany), BASF SE (Germany), Lonza (Switzerland), Epax (Norway), Croda International Plc (U.K.), Cargill, Inc. (U.S.), Golden Omega (Chile), Corbion (Netherlands), and Polaris (U.S.), contribute to a competitive landscape, driving innovation and advancing the market through cutting-edge research and product development.
In February 2021, India-based startup OZiva added a new variety of vegan Omega-3 multivitamins to cater to the developing call for plant-based nutritional supplements.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2017-2028
Base Year 2020
Estimated Year 2021
Forecast Period2021-2028
Historical Period 2017-2019
Unit Value (USD Billion)
SegmentationBy Source
Concentrates
Fish Oil
Algae Oil
Krill Oil
Other Plant Sources
By Application
Dietary Supplements
Functional/Fortified Foods
Infant Formulae
Pharmaceuticals
Animal Feed & Pet Food
By Region
North America (By Source, Application, and By Country)
U.S. (By Application)
Canada (By Application)
Mexico (By Application)
Europe (By Source, Application, and By Country)
U.K. (By Application)
France (By Application)
Italy (By Application)
Spain (By Application)
Germany (By Application)
Russia (By Application)
Rest of Europe (By Application)
Asia Pacific (By Source, Application, and By Country)
China (By Application)
India (By Application)
Japan (By Application)
Australia (By Application)
Rest of Asia Pacific (By Application)
South America (By Source, Application, and By Country)
Brazil (By Application)
Argentina (By Application)
Rest of South America (By Application)
Middle East & Africa (By Source, Application, and By Country)
South Africa (By Application)
UAE (By Application)
Rest of MEA (By Application)
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