Global Omega-3 Ingredients for Pharmaceuticals Market, By Source (Marine and Plant), Type (Docosahexaenoic Acid (DHA), Eicosapentaenoic Acid (EPA), Alpha-Linolenic Acid (ALA)), Forms (Liquid and Dry), Therapeutic Areas (Cardiovascular Diseases, Autoimmune Diseases, Bone & Joint Disorders, Neurological Disorders, Ophthalmic Disorders, Skin Health, Cancer, Others), Population Type (Adults and Children), Distribution Channel (Direct, Indirect) – Industry Trends and Forecast to 2030.
Omega-3 Ingredients for Pharmaceuticals Market Analysis and Size
Growing consumer health awareness about the benefits related with the consumption of omega-3 fatty acids such as DHA and EPA are the primary factors enhancing the growth of the market. Presently, numerous research studies are taking place which is anticipated to create a competitive advantage for several manufacturers to develop new and innovative omega-3 ingredients for pharmaceuticals. Increasing lifestyle and age-related diseases in North America and Europe is consequently improving the growth of the supplements & functional foods segment with a revenue share of 52%.
Data Bridge Market Research analyses a growth rate in the omega-3 ingredients for pharmaceuticals market in the forecast period 2023-2030. The expected CAGR of omega-3 ingredients for pharmaceuticals market is tend to be around 11.5% in the mentioned forecast period. The market is valued at USD 733.5 million in 2022, and it would grow upto USD 1752.4 million by 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Omega-3 Ingredients for Pharmaceuticals Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Source (Marine and Plant), Type (Docosahexaenoic Acid (DHA), Eicosapentaenoic Acid (EPA), Alpha-Linolenic Acid (ALA)), Forms (Liquid and Dry), Therapeutic Areas (Cardiovascular Diseases, Autoimmune Diseases, Bone & Joint Disorders, Neurological Disorders, Ophthalmic Disorders, Skin Health, Cancer, Others), Population Type (Adults and Children), Distribution Channel (Direct, Indirect)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Avestia Pharma (India), Novasep (France), AbbVie Inc. (U.S.), KD Pharma Group (Japan), BASF SE (Germany). Corbion (Netherlands), DSM (Netherlands), AstraZeneca (U.K.), GSK plc. (U.K.), Fresenius Kabi AG (Germany), Croda International Plc (U.S.), AMARIN CORPORATION (Ireland), ANI Pharmaceuticals, Inc. (U.S.), Epax (Norway), Strides Pharma Science Limited (India), Pharma Marine AS (Norway), KinOmega Biopharm Inc. (China), Camber Pharmaceuticals, Inc. (U.S.)
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Market Opportunities
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Market Definition
Omega 3 ingredients are naturally occurring polyunsaturated fatty acids and nutrients that are essential for optimal human health. There are three kinds of omega-3 ingredients, namely, eicosapentaenoic acid (EPA), alpha-linoleic acid (ALA), and docosahexaenoic acid (DHA). EPA and DHA are mostly extracted from fish and ALA is mainly extracted from plants sources such as seeds and nuts.
Global Omega-3 Ingredients for Pharmaceuticals Market Dynamics
Drivers
- Increasing Demand of Docosahexaenoic acid (DHA)
Docosahexaenoic acid (DHA) type is in higher demand due to the increasing utilization of the product in infant formulas for the betterment of an infant's overall health. In the human diet, DHA is the most vital and abundant omega-3 fatty acid, which helps in maintaining the overall health of the human body. DHA is a main component for the development and maturity of an infant's brain and eyesight. Furthermore, it is extensively used in nutritional supplements and fortified foods. It is also widely used in treating dementia, coronary artery disease (CAD), attention deficit hyperactivity disorder, and Type 2 diabetes. DHA helped in increasing f longevity have also resulted in its use in elderly nutrition products. Thus, this factor increases the growth of the market.
- Rising Technological Advancements
Technological advancements and product innovation is anticipated to boost the market for omega 3 ingredients during the forecast period. For instance, DSM introduced new 3C technology to reinvigorate omega 3 supplements category on October 6, 2016. Furthermore, on June 9, 2015, Croda introduced Incromega DHA and approved by European Food Safety Authority (EFSA). Additionally, Royal DSM collaborated with Evonik to manufacture omega 3 fatty acid products from natural marine algae for animal nutrition on March 8, 2017. This innovation will allow the production of omega 3 fatty acids for animal nutrition without using fish oil. This factor improves the market growth.
Opportunities
- Huge growth in concentrated forms of algal omega-3 ingredients
New ultra-high concentrated omega-3 ingredients offer several benefits to consumers willing to pay a higher premium price for high-end products. Several suppliers are investing in the production of high concentrated algal omega-3 products, estimating increased demand to drive the sales. The market for concentrates has also been increasing, as more consumers become aware of the benefits of algal omega-3 and seek the benefits of higher doses. Several major companies are involved in omega-3 manufacturing that has started to strategically capitalize the existing business expansion opportunity.
- Rising Research Activities
Numerous research studies have developed a link between consumption of fatty fish and lowering of coronary heart diseases. For instance, fish oils are widely used as a supplement to balance the required dietary intake of eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA). Furthermore, fish oil is normally recommended as a supplement product for people who suffer from myocardial infarction by the American Heart Association, World Health Organization (WHO), the National Heart Foundation of Australia and National Health and Medical Research Council (NHMRC). Thus, this factor helps to create much opportunities for the growth of the market.
Restraints/Challenges
- Side Effects of omega-3 ingredients
There are various side-effects associated with the omega-3 ingredients for pharmaceuticals. Effects such as burping, diarrhea, heartburn, joint pain, stomach pain or discomfort, vomiting, constipation, nausea. Thus, these adverse effects affect the growth rate by decreasing the adoption of omega-3. This impedes the market growth.
- Increasing Negative Consumer Perception About omega-3 ingredients
Negative consumer perception associated with the smell and taste of omega-3 ingredients is also anticipated to limit the growth of the market. These unstable fatty acids can damage through enzymatic or chemical oxidation to form compounds that give foods a fishy smell. Additionally, fresh fish oil has no fishy taste or smell, just like fresh fish. People feel hesitant to adopt for omega-3 ingredients. Thus, this hampers the market growth.
This omega-3 ingredients for pharmaceuticals market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the omega-3 ingredients for pharmaceuticals market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Development
- In 2021, Omega-3 related supplier GC Rieber VivoMega announced its plans to enhance production amenities and storage tanks to accommodate more production in the upcoming years.
- In 2021, KD Pharma Group introduced Alga3, a sustainable, vegan omega-3 solution. KD Nutra's superior technology and production flexibility enable for a huge range of omega-3 concentrates.
- In 2021, AlgaeCytes Limited announced plans to build its first commercial plant in Dessau, Saxon-Anhalt, Germany. The plant will be owned and operated by the Company’s German subsidiary, AlgaeCytes Germany GmbH.
Global Omega-3 Ingredients for Pharmaceuticals Market Scope
The omega-3 ingredients for pharmaceuticals market is segmented on the basis of source, type, forms, therapeutic areas, population type, and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Source
- Marine
- Plant
Type
- Docosahexaenoic Acid (DHA)
- Eicosapentaenoic Acid (EPA)
- Alpha-Linolenic Acid (ALA)
Forms
- Liquid
- Dry
Therapeutic Areas
- Cardiovascular Diseases
- Autoimmune Diseases
- Bone & Joint Disorders
- Neurological Disorders
- Ophthalmic Disorders
- Skin Health
- Cancer
- Others
Population Type
- Adults
- Children
Distribution Channel
- Direct
- Indirect
Omega-3 Ingredients for Pharmaceuticals Market Regional Analysis/Insights
The omega-3 ingredients for pharmaceuticals market is analyzed and market size insights and trends are provided by source, type, forms, therapeutic areas, population type, and distribution channel as referenced above.
The major countries covered in the omega-3 ingredients for pharmaceuticals market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America has been witnessing a positive growth for omega-3 ingredients for pharmaceuticals market throughout the forecasted period because of growing usage of pharmaceutical products that contains omega-3 ingredients for prevention of cardiovascular disease. The increasing demand for healthy food in North America because of the growing awareness increased foodborne diseases and increasing food industry is anticipated to drive the growth of this global market during the forecast period.
Asia-Pacific dominates the market because of the increase in consumer demand for plant-based omega-3 products. The growing significance of omega 3 DHA for the development of the infant nervous system, vision, and brain combined with the product’s ability to support long-term health is expected to drive market growth in the upcoming years.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Omega-3 Ingredients for Pharmaceuticals Market Share Analysis
The omega-3 ingredients for pharmaceuticals market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to Omega-3 ingredients for pharmaceuticals market
Key players operating in the omega-3 ingredients for pharmaceuticals market include:
- Avestia Pharma (India)
- Novasep (France)
- AbbVie Inc. (U.S.)
- KD Pharma Group (Japan)
- BASF SE (Germany)
- Corbion (Netherlands)
- DSM (Netherlands)
- AstraZeneca (U.K.)
- GSK plc. (U.K.)
- Fresenius Kabi AG (Germany)
- Croda International Plc (U.S.)
- AMARIN CORPORATION (Ireland)
- ANI Pharmaceuticals, Inc. (U.S.)
- Epax (Norway)
- Strides Pharma Science Limited (India)
- Pharma Marine AS (Norway)
- KinOmega Biopharm Inc. (China)
- Camber Pharmaceuticals, Inc. (U.S.)
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