Global Omega-3 Market Size Study by Type, Source, and Application, and Regional Forecasts 2022-2032

The global Omega-3 market is valued at approximately USD 2.62 billion in 2023 and is projected to grow with a healthy CAGR of 7.9% during the forecast period from 2024 to 2032. Omega-3 fatty acids, recognized as essential polyunsaturated fats, play a pivotal role in promoting overall health and preventing chronic diseases. These include eicosapentaenoic acid (EPA), docosahexaenoic acid (DHA), and alpha-linolenic acid (ALA), found in various sources such as fish, algae, and plant oils. The health benefits of Omega-3s encompass supporting cardiovascular health, enhancing cognitive function, and reducing inflammation. As a result, Omega-3s have become integral components in dietary supplements, functional foods, pharmaceuticals, and infant formulas, driving substantial demand in the market.

The market is experiencing robust growth due to increasing consumer awareness about the numerous health benefits of Omega-3, particularly its role in preventing cardiovascular diseases, improving cognitive functions, and mitigating inflammation. This awareness has led to a significant rise in the consumption of Omega-3 supplements and fortified foods, thereby propelling market growth. Additionally, the rising demand for functional foods and beverages enriched with Omega-3 reflects consumers' preference for products that offer added health benefits, pushing manufacturers to innovate and incorporate Omega-3 into a diverse range of products. The expanding geriatric population globally further amplifies the demand for Omega-3, as this demographic increasingly seeks Omega-3 for its potential in managing age-related conditions such as cognitive decline, arthritis, and cardiovascular health. Also, opportunities within the Omega-3 market are abundant, particularly with the growing demand for plant-based Omega-3 sources. The rise in vegan and vegetarian lifestyles has created a substantial market for plant-derived Omega-3 products, such as those sourced from flaxseed, chia seeds, and algae. Furthermore, innovation in delivery systems, including microencapsulation, is enhancing the stability and bioavailability of Omega-3, enabling its incorporation into a wider array of products from beverages to pharmaceuticals, thereby expanding market potential.

However, the global Omega-3 market faces challenges, primarily related to the high cost of production and sustainability concerns associated with marine-based Omega-3 sources, particularly fish oil. Overfishing and environmental degradation pose significant risks to the supply chain, leading to volatility in raw material prices. Additionally, the ecological impact of overharvesting marine resources has raised concerns among environmentally conscious consumers and regulatory bodies, which could potentially limit market growth. Although the industry is exploring alternative sources like algae to address these concerns, the transition is still in its early stages and comes with high costs, impacting overall market dynamics.

In 2023, North America dominated the Omega-3 market with a revenue share of over 37.1%, driven by the presence of major pharmaceutical corporations and a strong demand for Omega-3 products. The Asia Pacific region is expected to witness significant growth, fueled by the rising demand for packaged baby nutrition formulas, driven by the increasing participation of women in the workforce. Countries such as India, China, Japan, Australia, and Thailand are anticipated to be key markets for Omega-3, particularly due to the importance of DHA in infant development, including nervous system, vision, and brain development.

Major market players included in this report are:

• Aker Biomarine Antarctic AS
• Orkla Health
• BASF SE
• Omega Protein Corp.
• GC Reiber Oils
• Lonza
• Croda International Plc
• EPAX
• BioProcess Algae, LLC
• Koninklijke DSM N.V.

The detailed segments and sub-segment of the market are explained below:

By Type:

• Docosahexaenoic acid (DHA)
• Eicosapentaenoic acid (EPA)
• Alpha-linolenic acid (ALA)
• Docosapentaenoic acid (DPA)
• Others

By Source:

• Marine Source
• Plant Source

By Application:

• Supplements & Functional Foods
• Pharmaceuticals
• Infant Formula
• Animal Feed & Pet Food
• Others

By Region:

• North America
• U.S.
• Canada
• Europe
• UK
• Germany
• France
• Spain
• Italy
• ROE
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• RoAPAC
• Latin America
• Brazil
• Mexico
• RoLA
• Middle East & Africa
• Saudi Arabia
• South Africa
• RoMEA

Years considered for the study are as follows:

• Historical year - 2022
• Base year - 2023
• Forecast period - 2024 to 2032

Key Takeaways:

• Market Estimates & Forecast for 10 years from 2022 to 2032.
• Annualized revenues and regional level analysis for each market segment.
• Detailed analysis of geographical landscape with Country level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of competitive structure of the market.
• Demand side and supply side analysis of the market.