|Omega 3 Market 2022 Size, Share, Trends And Industry Forecast 2030|
Omega 3 Market Growth & Trends
The global omega 3 market size is expected to reach USD 4.45 billion by 2030 and register a CAGR of 7.8% from 2023 to 2030, as per the new report by Grand View Research, Inc. This is attributed to the growing utilization of omega-3 fatty acids in pharmaceutical products, dietary supplements, and food & beverages, owing to their exceptional health benefits such as reduced eczema, prevention of heart diseases lowers blood pressure and cholesterol among others. Additionally, rising awareness about healthcare and the prevention of chronic diseases is likely to trigger the demand across end-use industries.
Furthermore, government regulations in various emerging economies encouraging the usage of omega 3 in infant formulations are anticipated to boost the market growth in the coming years. Among the various sources available for omega 3 fatty acids, fish oil accounts for more than 50% market share and is the most widely available dietary source of DHA (Docosahexaenoic acid) and EPA (Eicosapentaenoic acid). The growing consumption of fish oil across the globe is anticipated to positively impact the overall market growth over the forecast period.
In Europe, the demand for omega 3 is anticipated to witness a significant increase over the forecast period due to the rise in the product demand in dietary supplements across developed economies including France, Germany, the U.K., and The Netherlands among others. In Asia Pacific, the rising demand for improved healthcare facilities, coupled with an increase in the number of hospitals and multispecialty clinics across developing countries, is projected to positively impact the growth of the pharmaceutical industry. This, in turn, is anticipated to boost the growth of the market.
The omega 3 market witnessed a slight growth after the outbreak of COVID-19 on the account of the rising consumer preferences for organic food products. There was a shift in the mindset of the consumers regarding their overall health, which led to a significant rise in the demand for nutraceutical products across the globe. The growing demand for nutraceuticals is projected to positively impact the demand for the omega 3 market over the forecast period.
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Omega 3 Market Segmentation
Grand View Research has segmented the omega 3 market report based on type, source, application, and region:
Omega 3 Type Outlook (Volume, Tons; Revenue, USD Million, 2018 – 2030)
· Docosahexaenoic Acid (DHA)
· Eicosapentaenoic Acid (EPA)
· Alpha-linolenic Acid (ALA)
Omega 3 Source Outlook (Volume, Tons; Revenue, USD Million, 2018 – 2030)
· Marine Source
· Plant Source
Omega 3 Application Outlook (Volume, Tons; Revenue, USD Million, 2018 – 2030)
· Supplements & Functional Foods
· Infant Formula
· Animal Feed & Pet Food
List of Key Players in the Omega 3 Market
· Aker Biomarine Antarctic AS
· Orkla Health
· BASF SE
· Omega Protein Corp.
· GC Reiber Oils
· Croda International Plc
· BioProcess Algae, LLC
· Koninklijke DSM N.V.
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Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. Grand View Research database is used by the world’s renowned academic institutions and Fortune 500 companies to understand the global and regional business environment. Our database features thousands of statistics and in-depth analysis on 46 industries in 25 major countries worldwide.
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