The global omega-3 market is projected to reach $ 6,955 million by 2022. Omega-3 is a polyunsaturated fatty acids (PUFAs) with a carbon double bond at the third carbon position from the tail-end of the carbon chain. It is primarily obtained from various sources such as fish oil, krill oil, algal oil, walnut, pumpkin seed, and soybean oil. Alpha-linolenic acid (ALA), docosahexaenoic acid (DHA), and eicosapentaenoic acid (EPA) are the major type of omega-3 that are vital for normal human metabolism. Regulatory bodies, such as FDA, have drafted specifications regarding the consumption of omega-3. For instance, the consumption of omega-3 fatty acid per day is limited to 1,500mg. in Russia. Likewise, it is 500mg for France, 450mg for Norway, and 160mg for Australia and New Zealand.
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The world omega-3 market is driven by factors such as scientifically proven health benefits and increasing awareness among consumers about healthy eating and balanced diet. This factor is expected to have a significant impact on the market growth due to increasing awareness among individuals. Omega 3 intake helps in preventing chronic diseases such as cancer, arthritis, and cardiovascular diseases. In addition, omega-3 supplements, such as EPA and DHA help in preventing prostrate, colon, and breast cancers. However, high cost of manufacturing coupled with stringent regulatory barriers are some of the key challenges faced by market players.
The global omega-3 market is segmented based on type, source, application, and geography. DHA segment dominated the overall omega-3 market with more than three-fourths share in 2015; whereas, the ALA and EPA segments jointly accounted for one-fourth revenue share of the market in the same year. ALA segment is the projected to grow rapidly registering a CAGR of 15.8% from 2016 to 2022. Furthermore, omega-3 is classified based on source into marine, nuts & seeds, vegetable oils, and soya & soya products. Based on application, the market is divided into dietary supplements, pharmaceuticals, infant formulas, food & beverages, pet food, and fish feed. Pharmaceutical application segment is expected to grow rapidly registering a CAGR of 18% from 2016 to 2022. The world omega-3 market is analyzed based on four regions, namely, North America, Europe, Asia-Pacific, and LAMEA. North America region dominated the global market by accounting for more than one-third share of the overall market in 2015, followed by the Asia-Pacific and European regions.
The top players in the market have heavily invested in R&D activities to develop advanced products to cater to the high demand of the market. Some of the major players profiled in the report include Cargill, Incorporated, FMC Corporation, Croda International Plc, Royal DSM, OLVEA Fish Oils, Omega Protein Corporation, GC Rieber Oils, Luhua Biomarine (Shandong) Co., Ltd., Pharma Marine AS, and Polaris. Cargill, Inc. is the leading player in the market, owing to its extensive product portfolio and superior market positioning in more than 67 countries across the globe.
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- The report provides an in-depth analysis of the world omega-3 market along with current trends and future estimations, in terms of both value and volume, for the period of 2016–2022
- The report provides information about the current market situation, changing market dynamics, expected trends, and market intelligence.
- In-depth market analysis of the market has been provided for more than 25 different countries for each geographic region.
- The factors that drive and impede the market growth have been comprehensively analyzed in this study.
- SWOT analysis highlights the internal environment of leading companies for effective strategy formulation.
- The report contains a comprehensive study of the key strategies adopted by companies to gain traction in the market.
- Microlevel analysis is conducted based on type, source, application, and region.
- The report provides a country-wise analysis of the omega-3 market based on type and application.
OMEGA-3 MARKET SEGMENTS
The world omega-3 market is segmented on the basis of type, source, application, and geography.
- Alpha-Linolenic Acid (ALA)
- Docosahexaenoic Acid (DHA)
- Eicosapentaenoic Acid (EPA)
- Fish Oil & Krill Oil
- Algal Oil
- Nuts and Seeds
- Pumpkin Seeds
- Others (Hazelnuts, Chia Seeds, Tahini)
- Vegetable Oils
- Soybean Oil
- Canola Oil
- Others (Olive Oil, Flaxseed Oil)
- Soya and Soya Products
- Soya Milk
- Bean Curd
- Dietary Supplement
- Infant Formula
- Food & Beverage
- Pet Food
- Fish Feed