Omega-3 Market

Omega-3 Market Size & Share - Future Growth Expectations

The omega-3 market size is expected to reach USD 7.4 billion in 2029 from USD 3.9 billion in 2024, at a CAGR of 13.5% during the forecast period. The major factors driving the growth of this market include the rising awareness of health benefits, increasing use of omega-3 fatty acids in food and feed products, and the growing adoption of innovative production technologies.

The Omega-3 market has experienced significant growth in recent years, driven by several key factors:

  • Increasing Health Awareness
  • Rising Demand for Nutritional Supplements
  • Expansion of Food Fortification
  • Research and Development
  • Increasing Incidence of Chronic Diseases

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Increasing Health Awareness:
  • Growing consumer awareness about the health benefits of Omega-3 fatty acids, particularly their role in heart health, brain function, and overall well-being, has been a major driver of market growth. As people become more health-conscious, they are seeking out Omega-3 supplements and fortified foods.

Rising Demand for Nutritional Supplements:

  • The demand for dietary supplements, including Omega-3 supplements, has been steadily increasing, driven by factors such as aging populations, hectic lifestyles, and the desire for preventive healthcare. Omega-3 supplements are often perceived as a convenient way to ensure adequate intake of essential fatty acids.

Expansion of Food Fortification:

  • Food and beverage manufacturers are fortifying their products with Omega-3 to meet consumer demand for healthier options. This trend is particularly prevalent in functional foods, such as fortified milk, yogurt, juices, and breakfast cereals. Additionally, Omega-3 fortified animal feed is becoming more common in the aquaculture industry, leading to higher Omega-3 levels in seafood.

Research and Development:

  • Ongoing research into the health benefits of Omega-3 fatty acids, as well as advancements in extraction and purification technologies, have led to the development of innovative Omega-3 products with enhanced bioavailability and stability. This has expanded the market by offering consumers a wider range of options to meet their specific needs.

Increasing Incidence of Chronic Diseases:

  • The rising prevalence of chronic diseases such as cardiovascular diseases, diabetes, and cognitive disorders has spurred interest in Omega-3 as a potential preventive and therapeutic agent. Clinical studies suggesting the benefits of Omega-3 supplementation in managing these conditions have further fueled market growth.

The Omega-3 market is expected to continue expanding as consumers increasingly prioritize health and wellness, driving demand for Omega-3 fortified products and supplements across various industries.

Omega-3 Market Share - Global Industry Landscape

The omega-3 Market is characterized by the presence of several key players competing for market share. Some of the leading companies in the omega-3 industry include:

  • BASF SE (Germany)
  • Cargill, Incorporated. (US)
  • ADM (US)
  • Kerry Group Plc (Ireland)
  • Croda International Plc (UK)

These companies operate in diverse sectors but share a focus on providing essential products and solutions for industries ranging from agriculture to consumer goods.

BASF SE (Germany)

  • Market Share: BASF is one of the largest chemical companies globally, with a significant market share across various industries including chemicals, plastics, performance products, agricultural solutions, and oil & gas.
  • Key Offerings: BASF offers a wide range of products and solutions including chemicals, plastics, performance products, agricultural solutions, and oil & gas products. Their portfolio includes products for industries such as automotive, construction, agriculture, pharmaceuticals, and consumer goods.

Cargill, Incorporated (US)

  • Market Share: Cargill is one of the largest privately held corporations in the United States and is a major player in the agricultural and food industries globally.
  • Key Offerings: Cargill's key offerings include agricultural products, food ingredients, animal nutrition, energy, and financial services. They are involved in the production, processing, and distribution of agricultural products such as grains, oilseeds, cocoa, meat, and poultry.

ADM (US) (Archer Daniels Midland Company)

  • Market Share: ADM is a global food processing and commodities trading corporation with a significant market share in the agricultural and food industries.
  • Key Offerings: ADM offers a wide range of agricultural commodities, food ingredients, and feed ingredients. Their offerings include oils, grains, cocoa, proteins, sweeteners, and other food and feed ingredients. They are also involved in transportation, storage, and merchandising of agricultural commodities.

Kerry Group Plc (Ireland)

  • Market Share: Kerry Group is a major player in the global food and beverage industry, particularly known for its taste and nutrition solutions.
  • Key Offerings: Kerry Group provides taste and nutrition solutions to the food, beverage, and pharmaceutical industries. Their offerings include flavors, ingredients, nutritional ingredients, and functional ingredients. They cater to various sectors such as dairy, meat, beverages, snacks, and bakery products.

Croda International Plc (UK)

  • Market Share: Croda International is a leading specialty chemicals company with a focus on creating, making, and selling innovative, sustainable, and high-performance ingredients and technologies.
  • Key Offerings: Croda offers specialty chemicals and ingredients for various industries including personal care, healthcare, crop care, lubricants, and industrial markets. Their product portfolio includes ingredients for cosmetics, pharmaceuticals, crop protection, polymer additives, and more.

Related Reports:

Omega-3 Market by Type (DHA, EPA, AND ALA), Application (Dietary Supplements, Functional Foods & Beverages, Pharmaceuticals, Infant Formula, and Pet Food & Feed), Source (Marine and Plant), and Region - Global Forecast to 2029

Omega-3 Market Size,  Share & Growth Report
Report Code
FB 2759
RI Published ON
5/3/2024
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