Omega-3 Ingredients Market Size, Share, Opportunities, COVID-19 Impact, And By Type (Eicosapentaenoic Acid, Docosahexaenoic Acid , Alpha-linolenic Acid), By Source (Marine Oils, Plant Oils), By Application (Pharmaceuticals, Pet And Animal Feed, Supplements And Functional Foods, Infant Formulas, Others), And By Geography - Forecasts From 2022 To 2027

The omega-3 ingredients market is expected to grow at a compound annual growth rate of 7.53% over the forecast period to reach a market size of US$3.418 billion in 2027 from US$2.056 billion in 2020.

Introduction

Omega-3 ingredients are used to treat nutritional deficiencies and have good antioxidant properties. The most widely used omega-3 ingredients are alpha-linolenic acid (ALA), eicosapentaenoic acid (EPA), and docosahexaenoic acid (DHA). They are mainly found in plant oils such as flaxseeds, soybeans, and canola oils. These ingredients help in delivering protein and bioactive compounds to support many functions in the heart, blood vessels, immune system, lungs, human endocrine system, etc. The rising prevalence of cardiovascular disease and cancer across the globe is expected to drive the omega-3 ingredient market during the forecast period. Moreover, rising awareness about healthcare measures among consumers is expected to be a major growth driver for the overall market. Rising consumer spending on complementary health approaches is anticipated to drive the growth of the omega-3 ingredient market. According to the National Centre for complementary and Integrative Health, it is estimated that around 59 million Americans spend money on complementary health approaches, and their total spending adds up to $30.2 billion a year.

Market Trends

The growing popularity of certified food ingredients coupled with a concern for health and wellness to maintain proper health is creating more demand for omega-3 ingredients. Increasing investments in research and development activities by food and beverage manufacturers and rising advancements in technology are boosting the omega-3 ingredient market’s growth. Furthermore, EPA and DHA have been gaining popularity in the market and are becoming - part of the consumer’s daily diet.

Growth Factor

• The rising prevalence of certain diseases has increased the demand for omega-3-ingredient products.

A rise in the geriatric population and a high prevalence of cardiovascular diseases is expected to propel market growth. According to the World Health Organization, cardiovascular diseases (CVDs) are the leading cause of death globally, claiming an estimated 17.9 million lives each year. More than four out of five CVD deaths are due to heart attacks and strokes, while one-third of these deaths occur prematurely in people under 70 years of age. These alarming statistics have drawn people’s attention to their health and dietary habits. Consumers are spending more on their dietary supplements and including omega-3 ingredients in their diets to develop strong immunity and support heart and brain health, which is expected to boost the demand for omega-3 ingredient products in the coming years. Furthermore, rising cases of obesity and diabetes are expected to increase the demand for DHA. An unhealthy diet, physical inactivity, tobacco use, and harmful alcohol use are all risk factors for heart disease and stroke. These risk factors are showing a growing trend in the current population. Obesity and diabetes are other agitating reasons for heart disease. Diabetes affected approximately 463 million adults aged 20–79 in 2019 (Source: International Diabetes Federation). This has led to the growth of the omega-3 ingredient market. BASF Nutrition and health has partnered with Ideogen for the introduction of the omega-3 fatty acid solution ‘hepacor’ to Europe. This food contains a concentrated amount of EPA and DHA that will help to treat fatty liver disease. lant-based Multi Omega 3-6-9 gummies and soft gels from Forest Remedies. The Impact of COVID-19 on the Omega-3 Ingredients Market

The market for omega-3 ingredients is expected to grow positively because of the COVID-19 outbreak. As the number of people infected with the COVID-19 virus grows, the demand for healthy food products has increased worldwide. The consumption of a nutrition-rich diet has increased during the pandemic to keep overall health on track, which has increased the demand for omega-3 ingredients in the market.

Competitive Insights

The rising prevalence of various diseases across the globe has led to the entry of several new players in the omega-3 ingredient market.  To increase their clientele as well as increase their market share in the upcoming years, many of these market players have taken various strategic actions like partnerships and the development of novel solutions, which are expected to keep the market competitive and constantly evolving. Major market players like BASF SE and DSM, among others, have been covered along with their relative competitive strategies. The report also mentions recent deals and investments by different market players over the last few years. The company profiles section details the business overview, financial performance (public companies) for the past few years, key products and services being offered, along the recent deals and investments of these important players in the omega-3 ingredients market.

Market Segmentation:

• By Type
  • Eicosapentaenoic acid (EPA)
  • Docosahexaenoic acid (DHA)
  • Alpha-linolenic acid (ALA)
• By Source
  • Marine oils
  • Plant oils
• By Application
  • Pharmaceuticals
  • Pet and Animal Feed
  • Supplements and Functional foods
  • Infant Formulas
  • others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Spain
    • Others
  • Middle East and Africa
    • Israel
    • Saudi Arabia
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Thailand
    • Indonesia
    • Others