The global omega 3 market was valued at USD 2.43 billion in 2022 and is anticipated to expand at a compound annual growth rate (CAGR) of 7.8% from 2023 to 2030. This is attributable to the rising use of omega 3-based ingredients in the human diet to support brain and heart health. Furthermore, the increasing consumer investment in healthcare and one’s well-being is also expected to boost product demand. The market is witnessing continuous diversification in its product offerings as consumers are looking for alternatives to traditional fish oil. Krill oil is one of the widely used sources of omega-3 owing to its superior properties as compared to traditional fish oil. The majority of consumers in North America and Europe prefer krill oil over any other source of fish oil due to its unpleasant taste, acid reflux, and large-sized pills. Such factors are anticipated to trigger product demand during the forecast period.
The demand for omega-3 fatty acids in the U.S. is projected to grow significantly over the next few years owing to rising consumer awareness in the country regarding the several health benefits offered, including lowering blood pressure, cholesterol, and risks related to heart diseases. Moreover, growing consumer preference for a healthy and nutritional diet is further expected to fuel the product demand in the near future.
Numerous manufacturers present in the U.S., including BioProcess Algae, Martek Biosciences Corporation, and Omega Protein Corporation are focusing on research and development activities for launching pharmaceutical-grade omega 3 in the market. Increasing consumption of enhanced medicines to treat and prevent chronic diseases is likely to spur overall consumption in the coming years.
Growing demand for omega 3 coupled with rising pressure on anchovy fisheries to extract fish oil has increased the demand from non-fish sources including flaxseed, walnuts, algae, and krill oil. Furthermore, the increasing government initiatives to promote the usage of omega 3 in different end-use applications are projected to positively impact the market demand.
Docosahexaenoic acid (DHA) type dominated the market with the highest revenue share of 62.4% in 2022. This is attributed to the growing utilization of the product in infant formulas to improve the overall health of an infant. In the human diet, DHA is the most essential and abundant omega-3 fatty acid, which helps in maintaining the health of the human body.
DHA is a crucial component for the development and maturity of an infant's brain and eyesight. Moreover, it is widely used in nutritional supplements and fortified foods. It is also used in treating dementia, attention deficit hyperactivity disorder, coronary artery disease (CAD), and Type 2 diabetes. The advantages of DHA for health and longevity have also resulted in its use in geriatric nutrition products.
The demand for Eicosapentaenoic acid (EPA) is anticipated to increase globally during the forecast period owing to several health benefits such as it helps in avoiding coronary heart diseases, high blood pressure, inflammation, and excessive triglycerides (blood fats). It is also used for treating diabetes, addressing chemotherapy-related side effects, and enabling recovery from surgeries among others.
The marine segment dominated the market with the highest revenue share of 83.3% in 2022. This is attributable to the abundance of DHA and EPA omega-3s in fish bodies or liver oil, oily or fatty fish, and marine microorganisms, such as algae and marine crustaceans, including krill. High-omega-3 content sources for human consumption include salmon, pollock, tuna, and mackerel.
Other high EPA and DHA content sources include forage fish species with small bodies. This fish category includes anchovies, herring, sardines, mackerel, hoki, and capelin. Thus, marine, in general, is recognized worldwide as a major source of EPA and DHA, thereby leading to rising demand for omega-3 obtained from marine sources.
The plant source segment is expected to register growth over the forecast period, mainly because the global demand for vegetable oils obtained from seeds of soybeans, safflower, sunflower, cotton, and corn is surging as they are rich sources of omega-3. Key players are also shifting to plant sources as an alternative to fish oil due to their environmental benefits. For instance, in October 2018, Cargill Incorporated launched ‘Latitude’, a plant-based sustainable alternative source of Omega 3 for fish feed applications.
The supplements & functional foods application segment dominated the market with the highest revenue share of 52.0% in 2022. This is attributable to the exceptional benefits offered by omega 3 such as muscle gain, mineral fortification weight management, and beauty benefits. Growing awareness regarding a reduction in calorie intake among gym professionals and athletes in several countries including China, Italy, India, and the U.S. is likely to promote the use of sports supplements and functional food products.
The pharmaceuticals segment is expected to register significant growth over the forecast period on the account of its growing usage in the dermatology sector due to its scalp nourishment properties. It is used to preserve the lipid content of the skin, thus preventing moisture loss and maintaining skin hydration. The rising utilization of omega 3 in pharmaceutical applications to treat the aforementioned skin and scalp conditions is further expected to drive the market over the forecast period.
The growing aging population, increasing lifestyle-related diseases, and rising prevalence of cancer are expected to fuel the demand for omega-3-based pharmaceutical products. In addition, technological advancements in API (active pharmaceutical ingredient) manufacturing are expected to augment the product market growth during the forecast period.
North America dominated the market with the highest revenue share of 37.1% in 2022. This is attributable to the presence of prominent manufacturers of omega 3-based pharmaceutical products. The demand in this region is also driven by the presence of major pharmaceutical companies such as Pfizer, Inc., Johnson & Johnson, Amway, and Amarin Pharma, Inc. among others.
The rising consumption of omega-3 in the pharmaceuticals industry and the growing research and development activities related to the product are expected to drive the growth of the market in North America over the forecast period. Moreover, the rising consumption of omega 3-rich supplements and functional food products by athletes owing to their ability to improve protein synthesis, increase muscle health, and enhance the physical performance of consumers is anticipated to further drive the market growth over the forecast period.
Asia Pacific is likely to witness growth owing to the rising demand for packaged baby nutrition formulas owing to the increasing participation of women in the workplace is anticipated to propel the demand for infant formulas in countries such as India, China, Japan, Australia, and Thailand. Furthermore, the increasing significance of omega 3 DHA for the development of the infant nervous system, vision, and brain along with the product’s ability to support long-term health is projected to drive market growth in the coming years.
Growing consumption of omega-3 in various applications coupled with rising awareness regarding health and chronic diseases, and regulations favoring the use of omega-3 in infant formulations has influenced manufacturers to invest in technologies and product development in order to meet consumer demands. The market has been experiencing an increase in the number of new entrants across the value chain owing to the growing profits and huge market potential of manufacturers.
The global market is consolidated with a few large market players accounting for a majority share. For instance, the acquisition of Ocean Nutrition Canada and Martek Biosciences by DSM shaped it as one of the largest suppliers of omega-3 ingredients, in terms of volume, across the globe. In addition, key companies such as Aker Biomarine Antarctic AS are focusing on expanding their capacity by introducing new catching vessels to increase their products, which was reflected in the sales of the company in the year 2021. Governments across developing regions are taking several initiatives to support Antarctic Krill fishing by providing research funds and creating innovation alliances, which may trigger industry growth. Some of the prominent players in the global omega 3 market include.
Aker Biomarine Antarctic AS
Orkla Health
BASF SE
Omega Protein Corp.
GC Reiber Oils
Lonza
Croda International Plc
EPAX
BioProcess Algae, LLC
Koninklijke DSM N.V.
Report Attribute |
Details |
Market size value in 2023 |
USD 2.61 billion |
Revenue forecast in 2030 |
USD 4.45 billion |
Growth rate |
CAGR of 7.8% from 2023 to 2030 |
Base year for estimation |
2022 |
Historical data |
2018 - 2021 |
Forecast period |
2023 - 2030 |
Quantitative units |
Revenue in USD million/billion, volume in tons, and CAGR from 2023 to 2030 |
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Segments covered |
Type, source, application, region |
Regional scope |
North America; Europe; Asia Pacific; Central & South America; Middle East & Africa |
Country scope |
U.S.; Canada; Mexico; Germany; U.K.; France; Spain; Italy; Norway; The Netherlands; China; India; Japan; Australia; New Zealand Brazil; Argentina; UAE |
Key companies profiled |
Aker Biomarine Antarctic AS; Orkla Health; BASF SE; Omega Protein Corp.; GC Reiber Oils; Lonza; Croda International Plc; EPAX; BioProcess Algae; LLC; Koninklijke DSM N.V. |
Customization scope |
Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
This report forecasts revenue growth at global, regional, and country levels and provides an analysis on the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global Omega 3 market report based on type, source, application, and region:
Type Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)
Docosahexaenoic Acid (DHA)
Eicosapentaenoic Acid (EPA)
Alpha-linolenic Acid (ALA)
Source Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)
Marine Source
Plant Source
Application Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)
Supplements & Functional Foods
Pharmaceuticals
Infant Formula
Animal Feed & Pet Food
Others
Regional Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Spain
Italy
The Netherlands
Norway
Asia Pacific
China
India
Japan
Australia
New Zealand
Central & South America
Brazil
Argentina
Middle East & Africa
UAE
b. The global omega 3 market size was estimated at USD 2.43 billion in 2022 and is expected to reach USD 2.61 billion in 2023.
b. The global omega 3 market is expected to grow at a compound annual growth rate of 7.8% from 2023 to 2030 to reach USD 4.45 billion by 2030.
b. The docosahexaenoic acid (DHA) segment dominated the omega 3 market with a share of nearly 62.42% in 2022 owing to its widespread application in improving heart health, brain health, and prenatal care.
b. Some of the key players operating in the global omega 3 market include Aker Biomarine Antarctic AS, Orkla Health, BASF SE, Omega Protein Corporation, GC Reiber Oils, Lonza, Croda International Plc, EPAX, BioProcess Algae, LLC, and.Koninklijke DSM N.V. among others.
b. The key factors that are driving the global omega 3 market include the rising prevalence of cardiovascular diseases, a surge in demand for nutritional supplementation for pregnant and lactating women, and soaring adoption of a healthy diet among the middle-class population
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The demand for nutraceuticals & functional foods is expected to witness an upward surge owing to consumers opting for immunity boosting supplements during the COVID-19 pandemic. Furthermore, a decline in the consumption of poultry, meat and seafood products across the globe is expected to increase the demand for plant and animal-based protein supplements in the near future. The report will account for COVID-19 as a key market contributor.
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