Global Omega 3 for Food Ingredients Market – Industry Trends and Forecast to 2029

Global Omega 3 for Food Ingredients Market, By Source (Plant-Derived, Marine-Derived), Product Type (Docosahexaenoic Acid (DHA), Eicosapentaenoic Acid (EPA), Alpha-Linolenic Acid (ALA)), Application (Dietary Supplements, Functional Foods and Beverages, Pharmaceuticals, Infant Formula, Pet Food and Feed) – Industry Trends and Forecast to 2029

Market Analysis and Size

In recent years, population around the world has become well aware of the benefits associated with Omega-3 ingredients. Americans spend over USD 25 billion per year on more than 50,000 dietary supplements products, according to a research. These ingredients are being widely consumed through various juices, desserts and dietary supplements, among others. Omega-3 is also being derived from plants to acknowledge demand from the vegan population.

Global Omega 3 for Food Ingredients Market was valued at USD 3.08 billion in 2021 and is expected to reach USD 8.37 billion by 2029, registering a CAGR of 13.30% during the forecast period of 2022-2029. Marine-Derived is expected to witness high growth in the source segments of the market owing to the numerous benefits associated with the type. 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, import/export analysis, pricing analysis, production consumption analysis, patent analysis and consumer behaviour.

Market Definition

Omega 3 ingredients refer to the naturally occurring polyunsaturated fatty acids and nutrients. These are known to be imperative for optimal human health. Alpha-linoleic acid (ALA), docosahexaenoic acid (DHA) and eicosapentaenoic acid (EPA) are three types of omega 3 ingredients available in the market. EPA and DHA are mainly extracted from fishes, while ALA is derived from plants sources.

Report Scope and Market Segmentation

Omega 3 for Food Ingredients Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Inclination towards Healthy Lifestyle

The increase in the consumer preference for dietary improvements acts as one of the major factors driving the growth of omega 3 for food ingredients market. The rise in trend of leading a healthy lifestyle among all age groups shifting to healthy and innovative approach have a positive impact on the industry.

• Prevalence of Chronic Diseases

The surge in the adoption of the omega 3 in food intake across the globe owing to the rise in the occurrences of Cardiovascular Diseases (CVDs) accelerate the market growth. Also, the rise in importance of immunity development due to the outbreak of COVID-19 escalates the demand for omega 3 supplements.

•  Prevalence of Obesity

The increase in the prevalence of obesity among population further influences the market. People reaching out to dieticians and nutritionists providing customized diet plans with the aim of losing weight helps in the market growth.

Additionally, change in lifestyle, increase in the disposable income and rise in awareness regarding the benefits of the nutrition plan positively affect the omega 3 for food ingredients market.

Opportunities

Furthermore, increase in consumer demand for plant-based products and research and development extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, collaborations and strategic partnerships will further expand the market.

Restraints/Challenges

On the other hand, high cost associated with the research and development activities, and presence of regulations are expected to obstruct market growth. Also, lack of clarity amongst consumers about daily recommended intake is projected to challenge the omega 3 for food ingredients market in the forecast period of 2022-2029.

This omega 3 for food ingredients 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 omega 3 for food ingredients market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Omega 3 for Food Ingredients Market

COVID-19 had a negative impact on several industries. However, omega 3 for food ingredients market witnessed a significant growth during this period. During the lockdown imposed by the government for restricting the spread of the coronavirus disease, most of the population took keen interest in adopting health diets. People are adopting health supplements to increase their immunity with the increasing health complications. The rise in the emphasis on good health is going to keep increasing the growth of the market in the post pandemic scenario.

Recent Developments

• AlgaeCytes Limited news regarding their first commercial plant in Dessau, Saxon-Anhalt, Germany in May’2021. AlgaeCytes Germany GmbH, a subsidiary of AlgaeCytes Limited will be operating the plant as an owner.
• Thai Union Group PCL and Corbion unveiled the news regarding the adoption of AlgaPrime DHA, an omega-3 rich algae feed ingredient in their Thai Union shrimp feed in October’2020. The partnership aims at making successful use of alternative and sustainable feed ingredients at scale.

Global Omega 3 for Food Ingredients Market Scope and Market Size

The omega 3 for food ingredients market is segmented on the basis of source, product type and application. The growth amongst these segments will help you analyze meager 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

• Plant-Derived

                     Nuts and Seeds

                     Vegetable Oils and Soybeans

• Marine-Derived

                       Fishes

Product Type

• Docosahexaenoic Acid (DHA)
• Eicosapentaenoic Acid (EPA)
• Alpha-Linolenic Acid (ALA)

Application

• Dietary Supplements
• Functional Foods and Beverages
• Pharmaceuticals
• Infant Formula
• Pet Food and Feed

Omega 3 for Food Ingredients Market Regional Analysis/Insights

The omega 3 for food ingredients market is analysed and market size insights and trends are provided by country, source, product type and application as referenced above.

The countries covered in the omega 3 for food ingredients market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).

North America dominates the omega 3 for food ingredients market because of the rise in awareness among consumers about their health within the region.

Asia-Pacific (APAC) is expected to witness significant growth during the forecast period of 2022 to 2029 because of the increase in the number of obesity rates in the region.

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. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. 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 Omega 3 for Food Ingredients Market Share Analysis

The omega 3 for food ingredients 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 for food ingredients market.

Some of the major players operating in the omega 3 for food ingredients market are

• Cargill Incorporated (US)
• BASF SE (Germany)
• DSM (Netherlands)
• Orkla (Norway)
• Croda International Plc (UK)
• Lonza. (Switzerland)
• KD Pharma Group (Germany)
• Corbion (Netehrlands)
• GC Rieber (India)
• Epax (Norway)
• Runke Bioengineering (China)
• Nordic Naturals, Inc. (US)
• Golden Omega (Chile)
• Kinomega Biopharm Inc. (China)
• Sinomega Biotech Engineering Co. Ltd. (China)
• Polaris (US)
• Pharma Marine AS (Norway)
• Huatai Biopharm (China)
• ALGISYS LLC (US)
• Biosearch Life (Spain)