The global omega 3 market size is projected to reach USD 3.77 billion by 2025 registering a CAGR of 7.4%, according to a new report by Grand View Research, Inc. Rising product usage in the Active Pharmaceutical Ingredient (API) market is among the major driving factors for the omega 3 market. Moreover, rising population in emerging regions, most notably in Asia Pacific, has complemented the growth of this market. In addition, technological advancements pertaining to the manufacturing of APIs among other highly potent active ingredients will drive the market further.
In addition, rapid growth of the dietary supplements market is projected to bolster the product demand. Omega 3 is being increasingly used in the dietary supplements as it can significantly reduce the risk of cardiovascular and heart diseases. Moreover, it can also reduce the risk of arrhythmias or abnormal heartbeats. Furthermore, it helps slow down the growth of atherosclerotic plaque while lowering the levels of blood pressure. In addition, rising disposable incomes, especially in middle class population in emerging economies of China and India, will augment the demand further.
North America emerged as the largest market in 2018 due increased focus on R&D activities for developing various grades of the product, especially pharma-grade omega 3 for enhanced medication to prevent chronic diseases. However, Asia Pacific is expected to witness the fastest CAGR over the forecast period. Ongoing advancements in the food industry and medical science coupled with demographic changes and high consumer demand are expected to provide impetus for the regional market growth.
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Further key findings from the study suggest:
Supplements & functional foods emerged as the largest application segment in 2018 and is expected to register a CAGR of 7.3% over the forecast period
Led by emerging economies like India, China, and Japan, Asia Pacific is expected to witness the fastest growth over the forecast period
The market is characterized by intense competition among international and domestic companies. Thus, mots companies have undertaken M&A as their key strategy to withstand the competition
Furthermore, product innovation has also been a preferred strategic initiative by prominent manufacturers
Some of these key market participants include Aker BioMarine, Axellus, BASF SE, DSM, Omega Protein Corp., GC Rieber Oils AS, Martek Biosciences Corp., and Lonza Group
Grand View Research has segmented the global omega 3 market on the basis of application and region:
Omega 3 Application Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
Supplements & Functional Foods
Pet & Animal Feed
Omega 3 Regional Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
Central & South America
Middle East & Africa
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