Omega-3 Fatty Acids Market Forecasts to 2028 - Global Analysis By Source, Application, and Geography

According to Stratistics MRC, the Global Omega-3 Fatty Acids Market is accounted for $1.75 billion in 2022 and is expected to reach $2.60 billion by 2028 growing at a CAGR of 6.8% during the forecast period. Omega-3 fatty acids are polyunsaturated fats play crucial roles in human body. All of body's cells benefit from omega-3 fatty acids by performing as they should. They play a crucial role in cell membranes by promoting interactions between cells and assisting to create structure. There are numerous possible advantages of omega-3 fatty acids for cardiovascular health. They assist in lowering triglyceride levels, which is one major advantage. They perform numerous roles in heart, blood vessels, lungs, immunological system, and endocrine system.

According to the United Nations Population Fund (India), the number of cases of heart disease in senior citizens across India in 2050 is expected to be 19.1 million. Countries such as India and China, where chances of heart disease cases are increasing, create demand for heart health products, which supports the omega-3 products market.

Market Dynamics:

Driver:

Increasing knowledge of omega 3 fatty acids health benefits

Omega 3 fatty acids are in high demand as a result of growing awareness of their beneficial health effects. Applications for the product include medications, functional foods, and dietary supplements. According to a number of recent clinical researches, eating omega 3 fatty acids largely promotes cardiovascular health and a number of other bodily processes. The demand for long-chain PUFAs is being fuelled by the increased understanding of the necessity of essential fatty acids and the advantages of omega fatty acids. Omega fatty acids, which must be consumed externally through meals high, have grown remarkably popular over the past few years.

Restraint:

Difficulty in processing

The main marine sources of the product omega 3 fatty acids are fish and krill. Over the past few years, there has been a change in how omega-3 is extracted from marine sources. Producers encounter a few process-related difficulties that impede the market's expansion. Omega-3 obtained from marine sources has an unpleasant fishy taste and smell. These fatty acids may alter the taste balance of functional foods. The quality of the product could potentially be impacted by excessive processing temperatures. Omega-3 fatty acids are obtained from marine sources by the extraction and purification of waste, and the contamination of the derived product may reduce its purity. The difficulties in developing high-quality, incredibly pure items are hindering the market.

Opportunity:

Growing technological advancements

The constant advancements in technology improve these chemicals' absorption and delivery in the body. Due to their bioavailability and variable rate of absorption, the development of lipid-based supplements continues to be a difficult task. Numerous studies indicate that a number of factors may restrict the body's ability to absorb omega fatty acids. The major market participants are pouring a lot of money into research and developments to incorporate technology that will increase the body's ability to absorb omega-3 in turn enhance the market growth.

Threat:

Stringent regulation barriers

High costs and strict regulations are likely to hinder market expansion. In addition, compared to the oversaturated markets of North America and Europe, Asia-Pacific is expected to experience tremendous growth. Due to the cheap price of vegetal sources such nuts, seeds, and soy products, the market share of omega-3 fatty acid is anticipated to decline. It is anticipated that the use of omega 3 fatty acids in this business will be restricted by an increase in manufacturing costs brought on by the presence of contaminants.

COVID-19 Impact

The global market has benefited from the COVID-19 epidemic. There have been claims of an enormous rise in demand for foods and dietary supplements containing omega fatty acids to improve health and immunity. The widespread recommendation from medical professionals throughout the world to include immunity-boosting dietary supplements in daily living is significantly influencing how widely people are utilising the product. Companies in the sector have seen disruptions in their supply chains, mostly as a result of the current pandemic's transit limitations and geometrically rising logistics and transportation costs. The product's manufacturing process has been disrupted by the product's raw material import and production slowdowns.

The fish oil segment is expected to be the largest during the forecast period

The fish oil segment is estimated to have a lucrative growth, due to their high content of omega 3 fatty acids and was a major source in the extraction of omega-3 fatty acids. The overfishing that followed the rise in demand for fish for direct consumption has caused the fish population to decline, which has prompted people to look for more natural and environmentally friendly fish sources. At the same time, vegan sources of omega fatty acids like flax and sunflower seed oils are expected to see enormous demand in the upcoming years due to developing trends in plant-based components, which are in high demand.

The Functional foods segment is expected to have the highest CAGR during the forecast period

The Functional foods segment is anticipated to witness the fastest CAGR growth during the forecast period, due to developed economies, consumers are placing a greater emphasis on health management using functional food products like dietary supplements. Additionally, a number of innovations have entered the functional food area as a result of the growing choice and popularity for healthy snacks. The recent increase in sales in this sector has prompted producers and processors to add omega fatty acids to a wide range of food mediums.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the recent change in FDA regulations allowing qualified health claims indicating that these products can lower the risk of cardiovascular problems is anticipated to increase demand for these products in this region. The market's expansion is also aided by the growing investments made by industry titans in the creation of novel solutions to enhance the delivery and assimilation of various kinds of fatty acids in the body. Increasing health benefits awareness and rising discretionary budgets, which allow customers to spend on wellness-promoting healthcare items. In densely populated nations in the region, like China and India, the need for dietary supplements is rising quickly thereby enhancing the regions market share.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to the growing knowledge of the beneficial health effects of polyunsaturated fatty acids. In this region, there will be a substantial need for dietary supplements and functional foods due to the rising prevalence of lifestyle-related health disorders, the growing elderly population, a fast-paced lifestyle, and stress-related factors. An enormous demand for these fatty acids derived from plants would result from the expanding tendencies of veganism and vegetarianism in the area is encouraging in the growth of the market in this region.

Key players in the market

Some of the key players profiled in the Omega-3 Fatty Acids Market include: BASF SE, Royal DSM N.V, Lonza, Epax, Golden Omega, Cordion, Polaris, Corda International Plc, Evonik, Aker Biomatine Antarctic, GC Reiber Oilks, Bioprocess Algae, LLC, Koninklijke DSM N.V, Orkla Health, FMC Corporation and Pharma Marine AS

Key Developments:

In Jan 2023, With the foundation of the joint venture Cofinity-X, ten partners of the automotive industry will further foster the adoption of the Catena-X network, BASF, BMW Group, Henkel, Mercedes-Benz, SAP, Schaeffler, Siemens, T-Systems, Volkswagen and ZF jointly founded Cofinity-X to accelerate the operation and adoption of Catena-X use-cases throughout the automotive industry.

In Jan 2023, BASF and Cargill further expand their partnership to offer high-performance enzyme solutions to animal protein producers in the United States, Together, the two companies are committed to bringing innovative enzyme-based solutions to the market, generating distinctive value for animal feed customers.

In Jan 2023, BASF's Monomers division announces sustainability roadmap and expands portfolio of climate-friendly products, at the same time, the division will continue to prioritize technical optimization measures to cut CO2 emissions from operations.

In Jan 2023, DSM shareholders approve DSM-Firmenich merger at Extraordinary General Meeting, there are powerful synergies from bringing together DSM and Firmenich that can deliver superior growth.

Sources Covered:

• Fortified Foods
• Fish Oil
• Nuts & Seeds
• Plant Oils
• Other Sources

Applications Covered:

• Dietary Supplements
• Infant Formulae
• Pharmaceuticals
• Animal Feed & Pet Food
• Functional Foods
• Other Applications

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

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