Omega 3 Market Share Will Grow to USD 4.86 Billion By 2028, at 7.8% CAGR: Polaris Market Research
The global omega 3 market size is expected to reach USD 4.86 billion by 2028 according to a new study by Polaris Market Research.
The consumption of omega-3 has increased owing to the increasing disposable income of consumers and rising health-conscious consumers. Growing application in the animal feed and pharmaceutical sectors has boosted the market growth. The outbreak of COVID-19 has increased the demand for the dietary supplements to enhance immunity and improve cardiovascular and mental health during the pandemic. The different types of the product include DHA (Docosahexaenoic Acid), ALA (Alpha-linolenic Acid), and EPA (Eicosapentaenoic Acid).
The demand for DHA and EPA is high owing to their health benefits such as brain development and function, improved cardiovascular health, and mood regulation. The increasing inclination of consumers towards preventive healthcare has fueled the growth of this segment. There has been increased awareness among consumers regarding wellbeing, weight loss, and nutritional requirement of the body, which supplements the development of this segment.
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They also support healthy skin and reduce asthma symptoms and allergy risk. Companies operating in this segment are developing healthy food and beverages for specific demographics such as children and the aging population. Introduction of new food products containing omega-3 focuses on providing nutritional benefits and good taste to cater to customer requirements. North America has emerged as the largest market in 2020 and is expected to maintain its dominance over the forecast period. However, the demand from Asia-Pacific is expected to increase during the forecast period. Consumers are increasingly realizing the importance of healthy eating and switching to omega-3 based food & beverages.
Increasing population, growing disposable income, and a greater focus on health and wellness have supported the demand growth. Increasing consciousness towards preventive healthcare during the pandemic and demand for dietary supplements to boost immunity has increased its demand. Market leaders are introducing innovative products to cater to the rising needs of consumers in the region. Some major industry participants include BASF SE, Cargill, Inc., Lonza Group AG, Epax Norway AS, Koninklijke DSM N.V., Aker Biomarine Antarctic AS, BioProcess Algae, LLC, Croda International Plc, Omega Protein Corporation, GC Reiber Oils, Orkla Health, and FMC Corporation.
Polaris Market Research has segmented the omega-3 market report on the basis of type, source, application, and region:
Omega-3, Type Outlook (Revenue, USD Billion, 2016 – 2028)
- DHA (Docosahexaenoic Acid)
- ALA (Alpha-linolenic Acid)
- EPA (Eicosapentaenoic Acid)
Omega-3, Source Outlook (Revenue, USD Billion, 2016 – 2028)
Omega-3, Application Outlook (Revenue, USD Billion, 2016 – 2028)
- Dietary Supplements
- Animal Feed
- Food & Beverages
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What Does the Report Include?
- Status of the Omega 3 Market in world view.
- Top companies operating in the market.
- Import-Export policies regarding the products/services in the Omega 3 Market.
- Research and development activities.
- Major research agenda in industry segments.
- Segmentation according to application, type, and geography.
- Comparative study of the domestic and international prices of the products and services and related price fluctuations.
- Worldwide Omega 3 Market’s driving forces and roadblocks
Impact of COVID-19 on this Market:
The pandemic of COVID-19 continues to expand and impact over 175 countries and territories across the globe. Although the outbreak appears to have slowed down, the impact of COVID-19 has already been witnessed by all the regions globally. The pandemic could influence the key aspects of the global economy such as production and supply chain along with financial markets.
We, at Polaris Market Research, better understand the impact of economic and other factors on various sectors and markets. Using our advanced research methodology, we are determined to aid your business sustain, stabilizing, and growing during the COVID-19 pandemic. With deep expertise across various industries-no matter how large or small- and with a team of highly experienced and dedicated analysts Polaris Market Research will provide you key insights about coronavirus outbreaks across different industries to guide you prepare for the future.
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