Omega 3 Market Size, Share & Trends Analysis Report By Application (Supplements & Functional Foods, Pet & Animal Feed, Pharmaceuticals, Infant Formulas), By Region (North America, APAC), And Segment Forecasts, 2019 - 2025

Industry Insights

The global omega 3 market size was estimated at USD 2.29 billion in 2018 and is estimated to expand at a CAGR of 7.4% from 2019 to 2025. The industry is driven by the rising penetration of omega 3 in Active Pharmaceutical Ingredient (API) market. This is in reaction to rising awareness about healthcare and chronic diseases, expanding scope of application of the product, and regulations favoring the product usage in infant formulations.

Following this trend, key companies operating in the market are focusing on getting their products certified to maximize their reach. The industry has also witnessed key acquisitions in the recent few years. For instance, In May 2013, Capiton AG acquired a majority stake in KD Pharma Bexbach GmbH to provide growth capital. KD Pharma Bexbach GmbH is one of the leading companies known for producing highly purified omega 3 fatty acids, which are used as ingredients for pharmaceuticals and food supplements.

North America is the largest regional market on account of increasing utilization of omega 3 in pharmaceutical industry coupled with growing R&D activities in the region. In addition, rising consumption of improved medication is expected to propel the demand for omega 3-based pharmaceutical products in the region over the forecast period.

Supplement & functional foods emerged as the largest application segment in North America. This can be attributed to the fact that omega 3 is highly effective for the treatment of a variety of health conditions, such as menstrual and mental health, which has led to its increased usage in the aforementioned application segment.

Application Insights

In terms of application, the omega 3 market is segregated into supplement & functional foods, pharmaceuticals, instant formulas, and pet & animal feed. Supplement & functional foods segment dominates the global market on account of various health benefits of the product, rising R&D initiatives, and increasing healthcare costs. Dietary supplements help maintain fitness and nutrient adequacy among adults and is thus projected to augment the consumption of omega 3 in dietary supplement products.

Supplement & functional foods also ensure the intake of important nutritional constituents. Rising occurrences of Cardiovascular Diseases (CVDs), especially between the age group of 30 to 40 years, owing to inactive lifestyle and fluctuating dietary patterns are projected to propel the demand for omega 3-based nutraceutical products. Growing awareness regarding the adverse health effects of calories is likely to promote the use of omega 3 in sports supplement & functional food products.

Furthermore, increasing importance of omega 3 fatty acids on a global level owing to advertising campaigns by major companies is anticipated to have a significant impact on the market growth. Increasing product usage in pharmaceutical industry is likely to spur the overall market growth in the coming years. Its anti-inflammatory properties help in the treatment of various health conditions including cancers, Alzheimer’s disease, depression, osteoporosis, and CVDs. Moreover, increasing product usage in the production of pharma-grade capsules to treat obesity is anticipated to drive the market further.

Regional Insights

Asia Pacific is expected to register the fastest CAGR over the forecast period. The region’s growth is driven by rising product demand in countries, such as China, India, and Australia. Wide usage of fish oil in daily diet, as well as increasing health awareness, is further augmenting the product demand. Growing cultivation of krill fish in the South China Sea and Indian Ocean is also expected to propel the overall market development. Increasing product utilization in the pharmaceutical industry coupled with growing R&D activities in North America is likely to drive the regional market. Moreover, rising consumption of improved medication is expected to propel the demand further in the region.

Europe is also likely to witness a healthy growth from 2019 to 2025. This growth is attributed to increasing product consumption, especially in the form of dietary supplements, on account of rising geriatric population in developed economies like Germany and France is likely to drive the market. Western Europe is projected to have around 20% of the global geriatric population, thereby leading to a rise in healthcare expenditure in Europe. Furthermore, the region holds a significant share, in terms of the product demand.

Omega 3 Market Share Insights

Some of the key companies include Aker BioMarine, Axellus, BASF SE, DSM, Omega Protein Corporation, GC Rieber Oils AS, and Lonza. Major operational strategies adopted by the manufacturers are new product development and capacity expansions. High product differentiation in the market has forced manufacturers to focus on introduction of different forms of product, such as tablets, liquids, and powders. Manufacturers are also focusing their R&D to develop innovative extraction processes and are investing in procuring shipping vessels to gain strategic advantage and ensure efficient raw material supply.

Report Scope

Segments Covered in the Report

This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global omega 3 market report on the basis of application and region:

• Application Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)

  • Supplements & Functional Foods

  • Pharmaceuticals

  • Infant Formulas

  • Pet & Animal Feed

  • Others

• Regional Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)

  • North America

    • U.S.

  • Europe

    • U.K.

    • Germany

  • Asia Pacific

    • India

    • China

    • Japan

  • Central & South America

    • Brazil

  • Middle East & Africa