Omega-3 ingredients are in high demand due to their enormous consumer appeal. The sales of omega-3 ingredients reached USD 7.4 Billion in 2023 growing at a CAGR of 10.8% during the forecast period. The omega-3 ingredients market is expected to generate $20.6 billion in revenue by 2033.
Although consumers' increasing desire to boost their immunity and general well-being continues to be an important factor, slower regulatory approval is anticipated to significantly hinder omega-3 ingredients market growth.
| Attributes | Details |
|---|---|
| Market CAGR for Omega-3 Ingredients (2023 to 2033) | 10.8% |
| Market Size for Omega-3 Ingredients (2023) | USD 7.4 Billion |
| Market Size for Omega-3 Ingredients (2033) | USD 20.6 Billion |
| Global Market Absolute Dollar Growth (USD Million/Billion) | USD 13.2 Billion |
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Two primary players in the global omega-3 ingredients market, DSM and Evonik have formed a joint venture in 2017, to form Verameris, aiming to produce algae-based omega-3 ingredients with a clean supply chain and no inclusion of animals in the production of all of their products.
The Food and Drug Administration (FDA) 2019 announced new health claims for omega-3 ingredients to be used in food and dietary supplements meant for those who are at risk of hypertension and coronary heart disease. These are expected to bode well for the omega-3 ingredients market. According to FMI, omega-3 ingredients’ sales have grown at 10.9% CAGR between 2016 and 2020.
Future growth is to be driven by innovations in omega-3 ingredient formulations and increasing consumer awareness about the relationship between their immunity and digestive health, and overall well-being. Moreover, governments of various countries such as the US, Sweden, Canada, and Japan are adopting various initiatives. They are encouraging the adequate intake of fatty acids such as omega-3 ingredients for better health. This is expected to create new opportunities for the global omega-3 ingredients market. FMI has forecast the market to grow at 10.9% CAGR through 2031.
The high concentration of saturated fats in food and beverage is causing an increased incidence of several coronary diseases, stroke, and cardiovascular diseases (CVD). This is causing an increase in the demand for polyunsaturated fatty acids (PUFAs) such as omega-3 ingredients as they help in reducing risk factors by lowering LDL cholesterol levels.
As the American Heart Association (AHA) recommended the consumption of PUFAs such as omega-3 ingredients in diet for reducing risks associated with heart diseases, the population is more aware of the health benefits of and thus is driving the market of omega-3 ingredients.
Principal Consultant
Increasing health awareness and a growing preference for healthy food have been encouraging the inclusion of omega-3 ingredients to be used in food products. Rising urbanization and the increasing prevalence of sedentary lifestyles are fueling the demand for healthy convenience food.
Manufacturers are therefore using omega-3 ingredients to make gummy candies in various flavors such as orange, lemon, strawberry, and many more. This has been identified as one of the chief market drivers.
Demand is Spurred by Newfound Appreciation for Scientific Evidence on Health Benefits.
Manufacturers are striving to team with strong research & development (Research and Development) teams for developing novel products with omega-3 ingredients. Some of the key players such as BASF are continuously exploring novel product offerings and production techniques.
For developing any dietary supplement or pharmaceutical product with omega-3 ingredients extensive preclinical research testing is required for which, strong research & development team is needed. Product innovation in omega-3 ingredients aimed at increasing shelf life and exploring novel plant-based sources requires a highly qualified team.
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Sources' Sufficiency Strive to Hold Supply Efficiency
Key players are striving to partner with and acquire well-performing players. Manufacturers are also aiming at increasing the production quantity of omega-3 ingredients as they spot the growing potential of the omega-3 ingredients market.
For instance, Omega Protein Corporation acquired Cooke Inc. in 2017 intending to strengthen its distribution network in the regional market.
Improved product offering and customization of omega-3 ingredients according to the end users’ requirement is anticipated to certainly help the manufacturer to strengthen their footprint in the competitive market.
The Appeal of Developed Markets Persists
Food safety measures taken by regulatory bodies for instance European Food Safety Authority (EFSA), State Food and Drug Administration (SFDA, China), Foods for specified health uses (FOSHU, Japan), Food Safety and Standards Authority of India (FSSAI, India), and others aim at re-assuring food safety by looking for concentrations of omega-3 ingredients along with other ingredients in the food products.
Rising awareness about sustainability is giving a new direction to the omega-3 ingredients market. This is driven by the increasing demand for algae-based omega-3 ingredients. Though a considerable amount of omega-3 can be obtained from fish and other seafood, manufacturers are developing novel production methods. For instance, algae farming is a response to the demand for plant-based omega-3 ingredients.
| Country | United States |
|---|---|
| HCAGR (2017 to 2022) | 8.8% |
| CAGR (2023 to 2033) | 9.8% |
| Country | Brazil |
|---|---|
| HCAGR (2017 to 2022) | 12.5% |
| CAGR (2023 to 2033) | 11.8% |
| Country | China |
|---|---|
| HCAGR (2017 to 2022) | 14% |
| CAGR (2023 to 2033) | 15% |
| Country | Japan |
|---|---|
| HCAGR (2017 to 2022) | 8.2% |
| CAGR (2023 to 2033) | 9% |
| Country | South Korea |
|---|---|
| HCAGR (2017 to 2022) | 9.9% |
| CAGR (2023 to 2033) | 9.3% |
| Attributes | Details |
|---|---|
| Japan Market Size (USDMillion/Billion) by End of Forecast Period (2033) | USD 1.2 Billion |
| Japan Market Absolute Dollar Growth (USD Million/Billion) | USD 667.4 Million |
According to a study by Juntendo University, Japan, the consumption of omega-3 ingredients as dietary supplement help reduce allergic conjunctivitis due to their anti-inflammatory activity. Consumers in Japan also take omega-3 ingredients to reduce symptoms of atopic dermatitis.
All these factors indicate that the consumer base in Japan is more inclined towards the application of omega-3 ingredients in dietary supplements.
The Emphasis on Healthy Living Has Fostered Promising Opportunities in the US.
| Attributes | Details |
|---|---|
| USA Market Size (USDMillion/Billion) by End of Forecast Period (2033) | USD 3.7 Billion |
| USA Market Absolute Dollar Growth (USD Million/Billion) | USD 2.2 Billion |
The American Heart Association compiled data from the US and Japan and compared deaths caused due to coronary diseases. The figures indicated more deaths due to coronary disease in the US as compared to Japan. The rising incidence of various chronic ailments has been compelling consumers to rethink their food habits.
In general, there is an increasing focus on healthy living and eating, which is expected to present lucrative growth opportunities for the market in the US
| Attributes | Details |
|---|---|
| Brazil Market Size (USDMillion/Billion) by End of Forecast Period (2033) | USD 1.1 Billion |
| Brazil Market Absolute Dollar Growth (USD Million/Billion) | USD 711.9 Million |
During the forecast period, the Brazil omega-3 ingredient markets are anticipated to expand at a CAGR of 11.8%. Brazilian omega-3 components are gaining popularity and are increasingly being incorporated into consumers' regular diets. The prevalence of lifestyle diseases is on the rise, and more people are choosing to take preventative healthcare measures.
Brazil's growing health worries are driving higher demand for omega-3 ingredients in supplements and medications. The benefits of omega-3 for heart and brain health are largely known among Brazilians. In order to introduce algae-based EPA-enriched products and supplements in the Brazilian market; numerous international corporations are either launching new products or partnering with Brazilian businesses.
To develop their business in Brazil and address the demand for omega-3 ingredients, Corbion (TerraVia) and Bunge established a joint venture in 2018 that manufactures algal omega-3-rich oil for aquaculture feed in Brazil.
| Attributes | Details |
|---|---|
| South Korea Market Size (USDMillion/Billion) by End of Forecast Period (2033) | USD 82.9 Million |
| South Korea Market Absolute Dollar Growth (USD Million/Billion) | USD 48.8 Million |
During the forecast period, the market for omega-3 products in South Korea is anticipated to grow at a CAGR of 9.3%. One of the markets with the highest growth is the South Korean market for omega-3 supplements.
In terms of volume and value, the omega-3 market's dietary supplement sector has the largest consumer base, followed by the food and beverage fortification industry. It is anticipated that the utilization of fish oil and the movement in customer preference toward a healthy diet that includes omega-3 elements may increase sales of omega-3 in South Korea.
Infant formula is driving regional market expansion.
| Attributes | Details |
|---|---|
| China Market Size (USDMillion/Billion) by End of Forecast Period (2033) | USD 2.2 Billion |
| China Market Absolute Dollar Growth (USD Million/Billion) | USD 1.7 Billion |
The Asia-Pacific region places unmatched priority on omega-3 in baby nutrition, which has resulted in a huge market for omega-3 supplements. The market for omega-3s is being driven by the rising demand for baby nutrition, which is supported by the benefits it offers to pre-and post-natal health.
Due to their high birth rates, China and India are the two nations with the highest consumption of infant formula products worldwide. Infant formula made up approximately a third of the market in China, but it also makes up the majority of baby food in India, where over 25 million babies are born on average each year.
A further rise in the consumption of omega-3 products is anticipated in the region due to the rising need for high-nutritional food for infants in Asia's expanding countries, such as China and India.
Manufacturers are striving to improve awareness about various health benefits of omega-3 ingredients by educating consumers as well as encouraging health practitioners. According to a regional study conducted by BASF, it was found that a considerable section of consumers in the UK take omega-3 ingredients or omega-3 dietary supplements at the time of breakfast and often tend to skip breakfast.
This creates sub-optimal conditions for the absorption of omega-3 ingredients and thus does not gives promised health benefits. Owing to this requirement, BASF developed dietary supplements made for omega-3 ingredients, to address the nutritional requirements of consumers who tend to skip breakfast.
According to the Institute for Health Metrics and Evaluation (IHME), Mexico was recorded to be low on omega-3 ingredients in their diets. Manufacturers of omega-3 ingredients are expanding their reach in Mexico. For instance, GC Riber Oil has partnered with Barrington Nutritionals to distribute omega-3 ingredients in Mexico.
GC Riber Oils is enhancing production quantity as they commenced a new production facility with an increased 60% of capacity. This rapid increase in production indicates the growing potential of the domestic market.
A large number of manufacturers from the US are looking for opportunities in Mexico. However, manufacturers entering the Mexican market have to adhere to an established set of regulations for concentration level as well as food safety standards according to Federal Commission for Protection against Health Risks (COFEPRIS).
The influence of the increasing awareness about animal cruelty and inclination for plant-based ingredients is profoundly felt on the market. This has resulted in increasing sales of omega-3 ingredients sourced from plant-based resources such as chia, flax, canola, walnut, mustard, and many more.
Besides plant sources, algae farming is gaining traction among manufacturers as it is a more sustainable way of producing omega-3 ingredients. The method uses photosynthesis in place of fermentation for production due to which it does not leave any toxins behind that are difficult to discard.
| Attributes | Details |
|---|---|
| Top Ingredients | Eicosapentaenoic Acid |
| CAGR % 2017 to 2022 | 9.5% |
| CAGR % 2023 to End of Forecast (2033) | 10.4% |
The demand for Eicosapentaenoic Acid (EPA) increases due to various health benefits, such as how it lowers the risk of coronary heart disease, excessive triglycerides and etc. During the anticipated period, the Eicosapentaenoic Acid segment in the market for omega-3 ingredients is to see a CAGR of 10.4%. In addition to these uses, it is used to manage diabetes, deal with the negative effects of chemotherapy, and facilitate healing after surgery.
Docosahexaenoic Acid (DHA) is one of the vital omega-3 ingredients used to fight several diseases such as arthritis, hypertension, depression, atherosclerosis, myocardial infarction, adult-onset diabetes mellitus, thrombosis, and many more. Due to its vitality, Consumers are ready to pay a premium price for omega-3 ingredients made from docosahexaenoic acid which follows the lead of the eicosapentaenoic acid segment.
| Attributes | Details |
|---|---|
| Top Application | Dietary Supplements |
| CAGR % 2017 to 2022 | 10.6% |
| CAGR % 2023 to End of Forecast (2033) | 9.8% |
Currently, dietary Supplements hold the leading market share. The Dietary Supplements in the application segment are to witness a CAGR of 9.8% for the forecast period of 2023 to 2033. However, the application of omega-3 ingredients in infant formula and the pharmaceutical & nutraceutical industry is also expected to witness rapid growth in the global market.
Increasing consumption of dietary supplements over other functional food ingredients is expected to drive the global omega-3 ingredients market over the forecast period. Other the other hand application of omega-3 ingredients in infant formula is also on the rise due to the vitality of docosahexaenoic acid (DHA) for the infant's initial period.
Startup MiAlgae receives funding to increase its production of sustainable omega 3s.
An investment of £2.3 million ($2.7 million) was made in the biotechnology startup MiAlgae to help it develop its circular economy technology. The investment is anticipated to be used by the business to expand its sustainable Omega 3 fatty acid production for both human and animal consumption.
The business intends to use the combined grants and investments to further its expansion goals, which include building a commercial demonstrator facility close to Stirling, Scotland, to increase its appeal to businesses. The business is anticipated to also try to hire more people to help out at the new site.
The market for omega-3 ingredients is dominated by a select group of companies, including Archer Daniels Midland Company, BASF SE, Cargill Inc., Koninklijke DSM N.V., and Corbion NV.
The impact of strategic alliances, investments, mergers, and acquisitions can be seen most clearly in the market for omega-3 components worldwide.
The deployment of new advertising campaigns by businesses like Koninklijke DSM N.V. and BASF SE is expected to increase the importance of omega-3 fatty acids at the worldwide level, which is going to have a big impact on the segment's growth.
Recent Development
Product Launch
| Date | 2019 |
|---|---|
| Company | BASF and Ideogen |
| Details | In 2019, BASF and Ideogen announced the launch of the Omega- 3 solution for non-alcoholic fatty liver disease (NAFLD). The food, called Hepacor, contains concentrated Docosahexaenoic Acid and Eicosapentaenoic Acid to address fat build up in the liver. |
| Date | 2020 |
|---|---|
| Company | Wiley Companies |
| Details | In 2020, Wiley Companies launched Omega-3 concentrate in powder form. |
Acquisition
| Date | - |
|---|---|
| Company | DSM |
| Details | It became one of the leading providers of omega-3 components globally as a result of DSM's acquisition of Ocean Nutrition Canada and Martek Biosciences. |
Expansion
| Date | - |
|---|---|
| Company | Aker Biomarine Antarctic AS |
| Details | Aker Biomarine Antarctic AS is concentrating on adding new catching vessels, which may enhance their capacity. This strategy is going to be reflected in the company's sales in 2021. |
The Market is predicted to grow at CAGR OF 10.8% through 2033.
Asia Pacific Market holds the highest revenue potential.
The Market size is anticipated to be over USD 7.4 Billion in 2023.
The Market is expected to be USD 20.6 Billion by 2033.
1. Executive Summary | Omega-3 Ingredients Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Ingredients 5.1. Alphalinolenic Acid 5.2. Eicosapentaenoic Acid 5.3. Docosahexaneoic Acid 6. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Source 6.1. Animals 6.1.1. Fish Oil 6.1.2. Algal Oil 6.1.3. Others 6.2. Plants 6.2.1. Chia Seed Oil 6.2.2. Flax Seed Oil 6.2.3. Soybean Oil 6.2.4. Canola Oil 6.2.5. Walnut Oil 6.2.6. Mustard Oil 6.2.7. Others 7. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Application 7.1. Food Industry 7.1.1. Dairy Desserts 7.1.2. Bakery & Confectionary 7.1.3. Savory Snacks 7.1.4. Breakfast Cereals 7.1.5. Others 7.2. Beverage Industry 7.2.1. Functional Drinks 7.2.2. Juices 7.2.3. Others 7.3. Dietary Supplements 7.4. Infant Formulas 7.5. Pharmaceutical & Nutraceutical Industry 7.6. Animal Feed 8. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Excluding Japan 8.5. Japan 8.6. Oceania 8.7. Middle East & Africa (MEA) 9. North America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Excluding Japan Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 13. Japan Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 14. Oceania Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 15. MEA Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Croda International Plc 18.2. Omega Protein Corporation 18.3. Koninklijke DSM N.V. 18.4. Cargill Inc. 18.5. Epax Norway AS 18.6. GC Rieber Oils AS 18.7. Pharma Marine AS 18.8. Copeinca ASA 18.9. Arista Industries Inc. 18.10. Polaris Nutritional Lipids 18.11. Clover Corp. Ltd. 18.12. Marine Ingredients LLC 18.13. Barleans Organic Oils L.L.C. 18.14. Algaecytes Limited 18.15. Qualitas Health 18.16. Cellana, Inc. 18.17. Qponics Limited, BioProcess Algae, LLC 18.18. Luhua Biomarine (Shandong) Co., Ltd 18.19. Denomega Nutritional Oils 19. Assumptions & Acronyms Used 20. Research Methodology
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Omega-3 Ingredients Market
