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Omega 3 Market Worth $4.50 Billion By 2027 Due To Increasing Awareness Of Chronic Diseases, The Expansion Of The Field Of Use Of Omega 3 | Grand View Research, Inc.

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Omega 3 Market Worth $4.50 Billion By 2027 Due To Increasing Awareness Of Chronic Diseases, The Expansion Of The Field Of Use Of Omega 3 | Grand View Research, Inc.

February 17
08:34 2021
Omega 3 Market Worth $4.50 Billion By 2027 Due To Increasing Awareness Of Chronic Diseases, The Expansion Of The Field Of Use Of Omega 3 | Grand View Research, Inc.

“Grand View Research, Inc. – Market Research And Consulting.”
According to a report published by Grand View Research, the increasing awareness of chronic diseases, the expansion of the field of use of omega 3, and regulations favoring the use of omega 3 in infant formulations are boosting the growth of the market.

According to a report, “Omega 3 Market Size, Share & Trends Analysis Report By Type (EPA, DHA, ALA), By Source (Marine Source, Plant Source), By Application, By Region, And Segment Forecasts, 2020 – 2027” published by Grand View Research, Inc., the global omega 3 market size is projected to reach USD 4.50 billion by 2027, expanding at a CAGR of 7.7% over the forecast period. Rising consumption of omega 3 in the active pharmaceutical ingredient (API) market is one of the major factors driving the demand for the product. Market growth can be attributed to rising health consciousness among consumers across the globe following a rise in the spread of chronic diseases.

The growing population in emerging countries, notably in the Asia Pacific, has contributed to the growth of the market. In addition, the industry is driven by technological advancements pertaining to the manufacturing of APIs among other highly potent active ingredients across the globe. The strong growth of the dietary supplements market is another important factor bolstering the demand for omega 3. The product is increasingly consumed in the dietary supplements market to reduce the risk of cardiovascular and heart diseases.

Omega 3 is known to reduce the risk of arrhythmias or abnormal heartbeats. Furthermore, it slows down the growth rate of atherosclerotic plaque while lowering the levels of blood pressure in humans. The growth of the industry is also attributed to rising disposable income, notably among the middle-class population in economies, such as China and India.

U.S. omega 3 market size, by application, 2016 - 2027 (USD Million)

Omega 3 Market Report Highlights

  1. On the basis of type, the Eicosapentaenoic acid (EPA) and Docosahexaenoic acid (DHA) omega 3 segments are expected to grow at a CAGR of 6.5% and 6.0%, respectively, during the forecast period. DHA and EPA-based goods are gaining popularity, and due to the growing prevalence of lifestyle diseases as well as the implementation of preventive health care initiatives among people, are gradually becoming an important part of the everyday diet among consumers.

  2. On the basis of application, the supplements and functional foods segment dominated the market in 2019 owing to the numerous health benefits of omega 3, along with rising R&D programs, and rising healthcare costs. In order to ensure the consumption of dietary ingredients essential to the human body, vitamins and functional foods are predominantly eaten.

  3. On the basis of source, the rising market interest in omega-3 fatty acids obtained from fish and krill oils is driving the market.

  4. North America emerged as the largest regional omega 3 market in 2019. This is attributed to the increasing focus of the market players on R&D activities for the development of various grades of omega 3, most notably pharma-grade omega 3 for enhanced medication to prevent chronic diseases.

  5. Asia Pacific is expected to expand at 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 to the regional market growth throughout the forecast period.

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Omega 3 Market Segmentation

Grand View Research has segmented the global omega 3 market on the basis of type, source, application, and region:

Omega 3 Type Outlook (Volume, Tons; Revenue, USD Million, 2016 – 2027)

  1. Docosahexaenoic Acid (DHA)

  2. Eicosapentaenoic Acid (EPA)

  3. Alpha-linolenic Acid (ALA)

Omega 3 Source Outlook (Volume, Tons; Revenue, USD Million, 2016 – 2027)

  1. Marine Source

  2. Plant Source

Omega 3 Application Outlook (Volume, Tons; Revenue, USD Million, 2016 – 2027)

  1. Supplements & Functional Foods

  2. Pharmaceuticals

  3. Infant Formulas

  4. Animal Feed & Pet Food

  5. Others

Omega 3 Regional Outlook (Volume, Tons; Revenue, USD Million, 2016 – 2027)

  1. North America

    1. The U.S.

    2. Canada

    3. Mexico

  2. Europe

    1. The U.K.

    2. Germany

    3. France

    4. Italy

    5. Norway

    6. The Netherlands

    7. Spain

  3. Asia Pacific

    1. India

    2. China

    3. Japan

    4. Australia

    5. New Zealand

  4. Central & South America

    1. Brazil

    2. Argentina

  5. Middle East & Africa

    1. UAE

Key Players in the Omega 3 Market

  1. Aker Biomarine Antarctic AS

  2. Orkla Health (Axellus)

  3. BASF SE

  4. Omega Protein Corporation

  5. GC Reiber Oils

  6. Lonza

  7. Croda International Plc

  8. EPAX

  9. BioProcess Algae, LLC

  10. Koninklijke DSM N.V.

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About Grand View Research

Grand View Research is a market research and consulting company registered in the State of California having its headquarters in San Francisco. The company offers syndicated research reports, customized research reports, and consulting services. With Grand View Research, you get an opportunity to understand market trends, insights, and business statistics from a strategic standpoint. With a deep-seated understanding of many business environments, Grand View Research offers business and market intelligence studies and accomplishes more than 300 multi-country market studies.

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