Omega-3 Industry worth $14.1 billion by 2029 | Key Players are BASF SE, Cargill Incorporated, Croda International Plc, Corbion, Cooke Aquaculture, Golden Omega, Nordic Naturals, and Now Foods

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Omega-3 Industry worth $14.1 billion by 2029 | Key Players are BASF SE, Cargill Incorporated, Croda International Plc, Corbion, Cooke Aquaculture, Golden Omega, Nordic Naturals, and Now Foods

February 21
16:52 2024
Omega-3 Industry worth $14.1 billion by 2029 | Key Players are BASF SE, Cargill Incorporated, Croda International Plc, Corbion, Cooke Aquaculture, Golden Omega, Nordic Naturals, and Now Foods
MarketsandMarkets™
Omega-3 Market by Type (DHA, EPA, and ALA), Application (Dietary Supplements, Functional Foods & Beverages, Pharmaceuticals, Infant Formula, and Pet Food & Feed), Source (Marine and Plant), and Region – Global Forecast to 2029

The global omega-3 market is estimated at USD 7.5 billion in 2024 and is projected to reach USD 14.1 billion by 2029, at a CAGR of 13.4% during the forecast period. Innovative product technologies in the Omega-3 market involve advancing and applying novel methods, formulations, and delivery techniques tailored to Omega-3 products. These innovations are aimed at improving various aspects, such as the effectiveness, absorption, stability, taste, and convenience of Omega-3 supplements and fortified foods. For instance, encapsulating Omega-3 oils within microscopic particles serves to shield them from degradation and undesirable flavors, thus enhancing their stability and palatability. Similarly, the development of targeted delivery systems allows Omega-3 supplements to specifically address the needs of different body tissues or organs, such as brain-targeted formulations for cognitive health or joint-specific products for supporting joint function. These technological advancements contribute to enhancing the overall appeal of Omega-3 products to consumers and consequently play a significant role in propelling market growth.

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By application, the dietary supplements segment is estimated to dominate the omega-3 market.

In the Omega-3 market, a noticeable trend is emerging among consumers who are increasingly embracing proactive health management practices, leading to a surge in the consumption of dietary supplements. Omega-3 supplements are widely acknowledged for their potential health advantages, encompassing support for heart health, cognitive function, and joint health. Consequently, the demand for Omega-3 dietary supplements is witnessing significant growth. Regulatory agencies have endorsed health claims associated with Omega-3 fatty acids, reinforcing consumer trust in Omega-3 dietary supplements. These substantiated health assertions, such as promoting heart health and cognitive function, motivate consumers to integrate Omega-3 supplements into their daily routines. As a result, the dominance of the “dietary supplements” segment in the omega-3 market is expected to continue during the forecast period.

By type, Eicosapentaenoic Acid (EPA) is estimated to grow at the highest CAGR during the forecast period in terms of value.

Numerous clinical trials and research studies have provided strong evidence supporting the effectiveness of EPA in addressing various health conditions, including cardiovascular disease, inflammation, and mood disorders like depression. This wealth of scientific evidence reinforces the health benefits attributed to EPA, bolstering consumer confidence and driving market expansion. EPA’s therapeutic potential extends beyond cardiovascular health and encompasses the management of inflammatory conditions such as rheumatoid arthritis, inflammatory bowel disease, and asthma. Moreover, EPA has been investigated for its neuroprotective properties and its impact on mental health and cognitive function. The broadening scope of therapeutic applications for EPA contributes to its increasing demand in the Omega-3 market.

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By source, the marine segment is projected to dominate the omega-3 market.

Marine sources, including fish oil, krill oil, and algae, naturally contain abundant omega-3 fatty acids, such as EPA and DHA. These marine organisms accumulate Omega-3 through their consumption of algae and phytoplankton, making them readily available sources of these essential nutrients. Omega-3 derived from marine sources typically boasts high bioavailability, ensuring easy absorption and utilization by the body, thus enhancing its effectiveness in delivering health benefits compared to other sources.

Furthermore, marine-derived omega-3 supplements, especially fish oil supplements, have been widely accessible in the market for many years. This longstanding presence has cultivated strong consumer trust, establishing them as the preferred option for individuals seeking Omega-3 supplementation, which contributes to the growth of the omega-3 market.

The Asia Pacific region is projected to have the fastest growth in terms of value.

Regulatory agencies across the Asia Pacific region have endorsed health claims associated with Omega-3 fatty acids, which enhance consumer confidence in these products. These health claims, including heart health and cognitive function benefits, motivate consumers to integrate Omega-3 into their daily dietary routines. Additionally, the rise of chronic health conditions like cardiovascular disease, diabetes, and obesity, stemming from rapid urbanization, sedentary lifestyles, and dietary shifts, prompts consumers to increasingly seek out nutritional supplements such as Omega-3 to bolster their overall health and wellness in response to these lifestyle changes.

Key players in this market include BASF SE (Germany), Cargill, Incorporated (US), DSM-Firmenich (Netherlands), Croda International Plc (UK), Orkla (Norway), Corbion (Netherlands), Pelagia AS (Norway), KD Pharma Group SA (Switzerland), GC Rieber (Norway), Cooke Aquaculture (Canada), AlgiSys Biosciences, Inc. (US), Golden Omega (Chile), Polaris (France), Nordic Naturals (US), and Now Foods (US).

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