The omega-3 market size is anticipated to grow from USD 3.9 billion in 2024 to USD 7.4 billion by 2029, with a projected CAGR of 13.5% during the forecast period. Traditional fish oil sources are no longer the only option, as sustainable, plant-based alternatives like algae, flaxseed, and chia seed oils gain popularity, addressing dietary restrictions and ethical concerns. Additionally, innovative formats such as micro-emulsified supplements and fortified foods are enhancing convenience and appeal, reaching a wider audience. With a rising trend toward proactive health management and the prevention of chronic diseases, omega-3 supplements and enriched food products are becoming favored choices for individuals focused on long-term wellness and preventive care.
Here are some current trends in the Omega-3 market:
Increasing Demand for Plant-Based Omega-3: With the rise of veganism and plant-based diets, there’s a growing demand for plant-sourced omega-3 from algae and flaxseed, as opposed to traditional fish oil sources.
Functional Food and Beverage Incorporation: Omega-3 is being integrated into a wide range of food and beverages to meet consumer demand for functional nutrition in everyday foods like dairy, bakery, and fortified drinks.
Personalized Nutrition: Companies are developing personalized omega-3 formulations tailored to specific health needs, from cognitive support to heart health, responding to the rising demand for targeted wellness.
Sustainability Initiatives: Efforts to improve sustainability are crucial, especially with omega-3 sourced from fish oil. Eco-friendly practices and sustainable sourcing, including algae-derived omega-3, are gaining traction among manufacturers.
Rise of Omega-3 Supplements: As health awareness grows, the omega-3 supplement sector is expanding, with a focus on high-potency and clean-label formulations.
Omega-3 Market Drivers: Innovative product technologies
Technologies like encapsulation and advanced flavoring systems are crucial in driving the Omega-3 market, as they help mask the natural taste of plant-based Omega-3s, making them more palatable and attractive to a wider audience. This enhancement is essential for increasing adoption and promoting consistent use. Additionally, smart packaging and tracking systems are enabling real-time monitoring of Omega-3 product quality and potency along the supply chain, ensuring product integrity and offering consumers transparency and peace of mind. Furthermore, innovations in microencapsulation and phospholipid delivery systems improve the bioavailability of Omega-3s and reduce the aftertaste often linked to traditional fish oil supplements. These advancements make Omega-3s not only more effective but also more enjoyable, fueling market expansion.
Omega-3 Market Opportunities: Research for development of alternative sources to obtain omega-3
Research into developing alternative sources for Omega-3 fatty acids presents a significant opportunity for the Omega-3 market. This initiative aims to explore and utilize alternatives like algae, flaxseed, chia seeds, and marine microorganisms for Omega-3 extraction. These sources provide several advantages, including sustainability, scalability, and a lower environmental impact compared to traditional fish oil extraction methods. Furthermore, advancements in technology and biotechnology have facilitated the production of Omega-3 supplements and fortified foods from these alternatives, ensuring consistent quality and potency.
By diversifying Omega-3 production sources, the market can reduce its reliance on finite marine resources, thereby mitigating the risks linked to overfishing and environmental degradation. The availability of plant-based and sustainable Omega-3 options appeals to environmentally conscious consumers and those with dietary restrictions, broadening the consumer base and driving market growth. Consequently, research into alternative Omega-3 sources offers a promising avenue for innovation while addressing the increasing demand for Omega-3 products in a sustainable and responsible way.
The dietary supplements segment is expected to lead the omega-3 market.
In the omega-3 market, a significant trend is emerging as consumers increasingly adopt proactive health management practices, resulting in a rise in the consumption of dietary supplements. Omega-3 supplements are recognized for their numerous health benefits, including support for heart health, cognitive function, and joint health. This growing awareness is driving a substantial increase in demand for omega-3 dietary supplements. Health claims associated with omega-3 fatty acids have received endorsement from regulatory agencies, which enhances consumer confidence in these products. Proven benefits, such as promoting heart health and cognitive function, encourage consumers to incorporate omega-3 supplements into their daily lives. Consequently, the dietary supplements segment is anticipated to maintain its dominance in the omega-3 market throughout the forecast period.
The marine segment is forecasted to lead the omega-3 market.
Marine sources, including fish oil, krill oil, and algae, are rich in omega-3 fatty acids such as EPA and DHA. These marine organisms obtain omega-3s through their diet of algae and phytoplankton, making them excellent natural sources of these essential nutrients. Omega-3 from marine sources is known for its high bioavailability, ensuring efficient absorption and utilization by the body, which enhances its effectiveness in providing health benefits compared to other sources.
Additionally, marine-derived omega-3 supplements, particularly fish oil, have been available in the market for many years. This long-standing availability has fostered strong consumer trust, establishing them as the preferred choice for individuals seeking omega-3 supplementation, thereby contributing to the growth of the omega-3 market.
What factors are driving the increasing demand for Omega-3 in North America?
In North America, the demand for Omega-3 fatty acids is on the rise, especially in dietary supplements, as consumers increasingly recognize their health benefits. Omega-3s are among the most sought-after dietary supplements, celebrated for their potential to enhance heart health, support brain function, and promote overall well-being. This growing awareness of Omega-3’s advantages, coupled with its endorsement in various health guidelines, has led to a steady increase in the demand for Omega-3 supplements in the region.
The key players in this market include BASF SE (Germany), Cargill, Incorporated. (US), dsm-firmenich (Netherlands), ADM (US), Kerry Group Plc (Ireland), Croda International Plc (UK), Orkla. (Norway), Corbion (Netherlands), GC Rieber (Norway), Pelagia AS (Norway), KD Pharma Group SA (Switzerland), Cooke Aquaculture Inc. (Canada), AlgiSys Biosciences, Inc. (US), Golden Omega (Chile), AKER BIOMARINE (Norway), and Polaris (France). These market participants are emphasizing the expansion of their footprint via agreements and partnerships. They maintain a robust presence in North America, Asia Pacific, South America, RoW, and Europe, supported by manufacturing facilities and well-established distribution networks spanning across these regions.
BASF SE (Germany)
BASF SE, a prominent multinational corporation, is a key player in the omega 3 market, offering its products primarily through the Nutrition & Care segment. With operations spanning over 90 countries globally, BASF SE operates over 100 production and research sites strategically located in North America, Europe, and Asia. Leveraging over 180 years of expertise in omega-3 innovation, BASF focuses on producing high-quality omega-3 solutions tailored for pharmaceutical APIs and nutritional supplements. Headquarters based in Lysaker, Norway, BASF maintains manufacturing sites in Sandefjord, Norway, and Callanish, Scotland.
Cargill, Incorporated (US)
Cargill, Incorporated, a leading producer of specialty food ingredients and industrial products, operates across four main business segments, including animal nutrition & protein, food ingredients & applications, origination & processing, and industrial & financial services. Within its food ingredients & applications segment, Cargill offers food additives and a wide range of ingredients to food and beverage manufacturers, food service companies, and retailers. Its specialty food ingredients include acidulants, sweeteners, starches, and protein ingredients, catering to various sectors such as beverages, bakery, dairy, and meat. These ingredients play a crucial role in enhancing the appearance, taste, and stability of fresh meat and specialty meat products, contributing to the omega-3 market.
DSM-Firmenich (Netherlands)
DSM-Firmenich (Netherlands), a global science-driven company with a strong emphasis on health, nutrition, and materials, offers a diverse portfolio of products spanning nutrition solutions, performance ingredients, functional materials, polymer intermediates, and biomaterials. Additionally, DSM is engaged in serving a multitude of markets, including food and beverages, dietary supplements, personal care, animal nutrition, and medical devices; dsm-firmenich also caters to sectors such as automotive, paints, electrical and electronics, alternative energy, and construction materials. The company actively participates in initiatives related to early-life nutrition, bio-based materials, and packaging solutions. dsm-firmenich provides a broad range of omega-3 ingredients suitable for various applications, including dietary supplements, infant nutrition, fortified foods, and animal nutrition. These ingredients encompass omega-3s derived from fish oil and alternative sources such as algal oil.
Omega-3 Industry News:
In February 2023, GC Rieber VivoMega has introduced VivoMega Algae Oils, a line of high-concentration vegan Omega-3 sourced from microalgae and sourced from the ocean.
In March 2023, Pelagia has invested USD 40 million in the facility of Epax which is subsidiary of Pelagia in Aalesund. This facility will help the company to implement new technology known as EOP+Tech for EPA & DHA products.
In November 2021, AlgiSys BioSciences, Inc. Raised funding of USD 45 Million. This funding will fuel the company's initial commercial strategies, which are propelled by increasing global demand for EPA omega-3 fish oil substitutes.
In September 2023, in a collaborative effort, Aker BioMarine and Swisse introduced a groundbreaking product within Australia's Listed Assessed medicine category. Swisse Ultiboost High Strength Krill Oil, incorporating Aker BioMarine's Superba Boost Krill oil, received approval and is now listed on the Australia Register of Therapeutic Goods (ARTG) under AUST L(A) 417392.
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