|Study Period:||2016 -2027|
|Fastest Growing Market:||Asia-Pacific|
|Largest Market:||North America|
Need a report that reflects how COVID-19 has impacted this market and its growth?
The global omega-3 ingredients market is projected to grow, witnessing a CAGR of 10.12% during the forecast period (2022-2027).
COVID-19 had boosted the omega-3 ingredients market as fatty acids such as eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA) play a potential role in the fight against COVID-19. According to Fatty Acid Research Institute, the anti-inflammatory effects of omega-3 fatty acids - specifically, the long-chain EPA and DHA may have beneficial effects in COVID-19 patients. These factors have led the market to grow further even during the global pandemic time.
Awareness of the benefits offered by omega-3 in human health has led to the use of fish oils as food supplements. However, the continually decreasing number of marine species, especially anchovy fish, has highlighted the need to explore alternative sources, especially those of microbial origin.
Demand for brain health and nutraceutical products for youngsters has been the major driver for Omega 3 ingredients across the world. Though Omega 3 ingredients are not restricted to age, it is highly consumed by working adults to boost metabolic activities and cognitive health.
However, one of the most prevalent challenges being faced by the conventional omega 3 ingredient manufacturers is to offer products with a competitive price range. This is more relevant for the companies that offer omega 3 ingredients from alternative sources, such as krill and algae oils.
Scope of the Report
Omega-3 fatty acids are a form of polyunsaturated fat that the body derives from food. Omega-3 fatty acids are found in foods, such as fish and flaxseed, and in dietary supplements, such as fish oil. The scope of the global omega-3 ingredients market includes market segmentation by Type, Application, and Geography. On the basis of type, the market is segmented under concentrates, algal oil, cod liver oil, krill oil, menhaden oil, refined tuna oil, anchovy oil, and others. Furthermore, on the basis of application, the market is segmented under functional food and beverage, dietary supplements, infant nutrition, pet food and feed, pharmaceutical, and clinical nutrition. Lastly, the report outlines the coverage of all the global regions, including North America, Europe, Asia-Pacific, South America, and Middle-East and Africa. For each segment, the market sizing and forecasts have been done on the basis of the value (in USD million).
|Cod Liver Oil|
|Refined Tuna Oil|
|Functional Food and Beverage|
|Pet food and Feed|
Key Market Trends
Immense Growth in Concentrated Forms of Algal Omega-3 Ingredients
New ultra-high concentrated omega-3 ingredients offer numerous benefits to consumers willing to pay a higher premium price for high-end products. Suppliers are investing in the production of high concentrated algal omega-3 products and are counting on increased demand to drive their sales. The market for concentrates has also been booming, as more consumers have been becoming familiar with the benefits of algal omega-3, and they have been looking for the benefits of higher doses. Considering the existing opportunities in the market studied, major companies involved in the manufacturing of omega-3 have also started making strategic efforts to capitalize on the existing business expansion opportunity. For instance, in June 2021, Polaris launched Omegavie DHA 800 algae oil, which is sourced from microalgae that is rich in vitamins, proteins, pigments, and enzymes. Omegavie DHA 800 is unique because of its high potency, offering a minimum of 800 mg/g of DHA.
To understand key trends, Download Sample Report
North America Holds the Largest Market Share
Consumer awareness regarding the benefits of omega-3 has increased recently, which has influenced the demand for omega-3 in the North American region. Omega 3 ingredients are predominantly extracted and processed in North America, due to augmenting dietary supplement brands and huge herbal and chemical processing companies. In the United States, consumers show a huge interest in Omega 3 ingredients due to inflating neurological disorders due to which market demand is even further boosting. The American Heart Association (AHA) recommends people in the region eat fish, particularly cold-water fish, twice a week to maintain optimum omega-3 levels in the diet. Growing consumer knowledge regarding product benefits is boosting the industry's growth.
To understand geography trends, Download Sample Report
The global omega-3 ingredients market is dominated by a few players, such as Corbion NV, BASF SE, Koninklijke DSM N.V., Archer Daniels Midland Company, Cargill Inc., and others. The most notable point to be observed in the global omega-3 ingredients market is the effect of strategic mergers, acquisitions, partnerships, and investments. Furthermore, the increasing importance of omega 3 fatty acids at the global level owing to the implementation of new advertising campaigns by companies, such as Koninklijke DSM N.V. and BASF SE, is anticipated to have a significant impact on the segment growth.
Koninklijke DSM N.V.
Archer Daniels Midland Company
- In May 2021, AlgaeCytes Limited announced plans to build its first commercial plant in Dessau, Saxon-Anhalt, Germany. The plant will be owned and operated by the Company’s German subsidiary, AlgaeCytes Germany GmbH.
- In October 2020, Thai Union Group PCL and Corbion announced the expanded adoption of AlgaPrime DHA, an omega-3 rich algae feed ingredient, in Thai Union shrimp feed, following a successful large-scale trial in 2019. The expanded partnership marked another success of using alternative and sustainable feed ingredients at scale.
- In March 2020, Nuseed had announced to enter into an agreement with ADM for crushing and processing of Nuseed’s proprietary omega-3 canola in the United States.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.2 Algal Oil
5.1.3 Cod Liver Oil
5.1.4 Krill Oil
5.1.5 Menhaden Oil
5.1.6 Refined Tuna Oil
5.1.7 Anchovy Oil
5.2 By Application
5.2.1 Functional Food and Beverage
5.2.2 Dietary Supplements
5.2.3 Infant Nutrition
5.2.4 Pet food and Feed
5.2.6 Clinical Nutrition
5.3.1 North America
18.104.22.168 United States
22.214.171.124 Rest of North America
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
184.108.40.206 Rest of Asia-Pacific
5.3.4 South America
220.127.116.11 Rest of South America
5.3.5 Middle-East & Africa
18.104.22.168 United Arab Emirates
22.214.171.124 South Africa
126.96.36.199 Rest of Middle-East & Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Koninklijke DSM N.V.
6.4.2 Cargill Inc.
6.4.3 Croda International PLC
6.4.4 Archer Daniels Midland Company
6.4.5 Corbion N.V.
6.4.6 Pelagia AS
6.4.7 Polaris SA
6.4.8 Omega Protein Corporation
6.4.9 BASF SE
6.4.10 Aker BioMarine
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
Frequently Asked Questions
What is the study period of this market?
The Omega-3 Ingredients Market market is studied from 2016 - 2027.
What is the growth rate of Omega-3 Ingredients Market?
The Omega-3 Ingredients Market is growing at a CAGR of 10.12% over the next 5 years.
Which region has highest growth rate in Omega-3 Ingredients Market?
Asia-Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Omega-3 Ingredients Market?
North America holds highest share in 2021.
Who are the key players in Omega-3 Ingredients Market?
Corbion N.V., Koninklijke DSM N.V., Cargill Inc., Archer Daniels Midland Company, BASF SE are the major companies operating in Omega-3 Ingredients Market.