Omega 3 Market Size, Share & Trend Analysis Report By Application (Supplements & Functional Foods, Pharmaceuticals, Infant formulas, Pet & Animal Feed), By Region, And Segment Forecasts, 2012 - 2022

Industry Insights

The global omega 3 market size was valued at USD 2.04 billion in 2016 and is expected to grow at a CAGR of 6.6% over the forecast period. Changing lifestyle coupled with rise in chronic diseases is expected to drive the demand over the forecast period. In addition, increasing demand for functional food from countries such as China, India, Japan, U.S., Germany, Australia, and Italy is expected to propel the industry growth over the next eight years.

Growing investment in clinical research and development along with rising consumer health awareness is predicted to promote the growth over next seven years. Health benefits offered by intake of eicosapentaenoic acid (EPA)/docosahexaenoic acid (DHA) including reducing blood pressure, bad cholesterol and coronary heart diseases such as strokes and heart attacks is expected to drive the industry.

Rising investment in research and development (R&D) by companies coupled with increase in manufacturing capacities is expected to drive the industry growth. However, growing mercury contents and contamination levels in fishes is expected to fluctuate the prices for fish oil over the forecast period.

Rising demand for supplements & functional foods along with increasing disposable income is anticipated to boost the industry growth over the forecast period. Countries including India, China, and other Asian countries are spending on pharmaceutical sector and are attracting foreign players such as Swiss company Novartis, Germany’s Bayer and British firm GlaxoSmithKline (GSK) to invest in the pharmaceutical sectors of the above regions.

Application Insights

Supplements and functional foods dominated the global omega 3 industry, accounting for 78.8% of the global market volume in 2014. Advancements in medical science and food industry coupled with changing demographics and consumer demand is likely to provide significant opportunities to food and food technology companies in the coming years.  

Global omega 3 demand for infant formulas was 3,626.1 tons in 2014, growing at an optimistic CAGR 8.7% from 2015 to 2022. Rising demand for DHA supplements for pregnant women owing to lack of adequate DHA in diet is expected to drive market growth. In addition, increasing demand for omega 3 DHA rich food supplements from non-lactating mothers is expected to further propel demand over next seven years.

Omega 3 is being widely used in pet & animal feeds to improve omega 3 levels in the diet of animals. Rising benefits of omega 3 rich animal feeds is expected to drive market growth over the forecast period. Also, growing use of omega 3 to feed fish and in animal production is expected to enrich the meat, milk and eggs as they improve the DHA levels in humans which is expected to propel the product growth over the predicted period.

The others segment is expected to witness sluggish growth over the forecast period due to the declining rate of fish production, restricted supply of alternate sources and limited awareness. The share of the others segment was nearly 1% of the global revenue.

Regional Insights

In terms of volume, North America market is anticipated to witness a CAGR of 7.5% from 2015 to 2022. Increasing consumer preference for a healthy diet rich in omega 3 nutrients in the region is expected to propel the market demand for omega 3 over the forecast period.

Europe market is expected to witness a CAGR of 3.1% from 2015 to 2022 and is a second key market. Trend among people to adopt variety of pets and rising awareness regarding pet health is expected to drive the market over the forecast period.

Asia Pacific is expected to witness fastest growth rate of 7.5% from 2015 to 2022. Growing consumer demand due to changing lifestyle and the expanding middle class have been key factors driving omega 3 demand. Uniform growth in industries including pharmaceutical, infant nutrition, supplements & functional food, and pet & animal feed is likely to drive the market.

Latin America region is expected to augment the omega 3 market as low-middle income classes is expanding at a fast pace, aging population is rising with concerns regarding brain, heart and bone health. In addition, the industry expected to propel due to shifting consumer trend towards herbal supplements.

Omega 3 Market Share Insights

Omega 3 industry is fragmented with large number of companies involved in extraction and processing of fish oil from anchovy fishes. Some of the major vendors include DSM, BASF, Croda, Pronova and Omega Protein. DSM constitutes 26.5% of the market share followed by BASF with 12.5%. The other industry players include Starfish, Omega 3 Innovations, Qponics Limited, and Clover Corporation.

As the industry is extremely competitive, the companies are involved in the research & development to improve the quality of the omega-3 extracts. Major companies are collaborating in emerging economies to increase their presence in the different applications and gain competitive advantage. In addition, focus on product differentiation and expansion is expected to be a major emphasis for the industry players over the coming years.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, & country levels, and provides an analysis of the industry trends in each of the sub markets from 2012 to 2022. For the purpose of this study, Grand View Research has segmented the global omega 3 market report based on application and region:

• Application Outlook (Volume, Tons; Revenue, USD Million,2012 - 2022)

  • Supplements & Functional Foods

  • Pharmaceuticals

  • Infant formulas

  • Pet & Animal Feed

  • Others

• Regional Outlook (Volume, Tons; Revenue, USD Million,2012 - 2022)

  • North America

  • Europe

  • Asia Pacific

  • Latin America

  • Middle East & Africa