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Omega 3 Market To Reach $4.45Bn By 2030 | CAGR: 7.8%

Omega 3 Market To Reach $4.45 Billion By 2030 | CAGR: 7.8%

August 2023 | Report Format: Electronic (PDF)

Omega 3 Market Growth & Trends

The global omega 3 market size is expected to reach USD 4.45 billion by 2030 and is expected to expand at a CAGR of 7.9% from 2024 to 2030, as per the new report by Grand View Research, Inc. This is attributed to the growing utilization of omega-3 fatty acids in pharmaceutical products, food & beverages, and dietary supplements, owing to their exceptional health benefits such as lowering blood pressure and cholesterol, prevention of heart diseases, and reduced eczema, among others. Additionally, rising awareness about healthcare and the prevention of chronic diseases is likely to trigger the demand across end-use industries.

Furthermore, government regulations in various emerging economies encouraging the usage of omega 3 in infant formulations are anticipated to boost market growth in the coming years. Among the various sources available for omega 3 fatty acids, fish oil accounts for more than 50% of the market share and is the most widely available dietary source of DHA (Docosahexaenoic acid) and EPA (Eicosapentaenoic acid). The growing consumption of fish oil across the globe is anticipated to positively impact the overall market growth over the forecast period.

In Europe, the demand for omega 3 is anticipated to witness a significant increase over the forecast period due to the rise in the product demand in dietary supplements across developed economies including France, Germany, the U.K., and The Netherlands among others. In Asia Pacific, the rising demand for improved healthcare facilities, coupled with an increase in the number of hospitals and multispecialty clinics across developing countries, is projected to positively impact the growth of the pharmaceutical industry. This, in turn, is anticipated to boost the growth of the market.

The omega 3 industry witnessed a slight growth after the outbreak of COVID-19 on account of the rising consumer preferences for organic food products. There was a shift in the mindset of the consumers regarding their overall health, which led to a significant rise in the demand for nutraceutical products across the globe. The growing demand for nutraceuticals is projected to positively impact the demand for the omega 3 industry over the forecast period.

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Omega 3 Market Report Highlights

Eicosapentaenoic acid (EPA) dominated the market with a volume share of 6.8% in 2023, This is attributable to the growing usage of EPS for treating chronic heart diseases, cancer, diabetes, and surgery recovery, among others
The marine source emerged as the fastest-growing type with a CAGR of 8.2%. This is because a vast majority of DHA and EPA omega-3 is found in fish bodies
The infant formula segment emerged as the fastest-growing application with a CAGR of 8.6%. This is due to the increasing demand for DHA supplements among non-lactating mothers and pregnant women across the globe
Asia Pacific emerged as the fastest-growing region with a CAGR of 8.5%. The growth is majorly driven by the rising demand for packaged baby nutrition formulas among consumers in the region
In June 2023, Nuseed Nutritional US Inc., a subsidiary fully owned by Nufarm Limited expressed its appreciation for the Norwegian Food Safety Authority's (NFSA) favorable decision to authorize the use of Aquaterra Omega-3 oil in fish feed applications. Aquaterra is derived from Nuseed Omega-3 Canola, which holds the distinction of being the world's pioneering plant-based source of DHA, EPA, and ALA