Emerging Economies of Asia Pacific and South America to Witness High Growth in Omega-3 Market

The global omega-3 market size is estimated to be valued at USD 4.1 billion in 2019 and is projected to be worth USD 8.5 billion by 2025, recording a CAGR of 13.1% during the forecast period. The global market is projected to witness significant growth due to factors such as the increase in the dietary supplement consumption and that of functional food & beverage, which encourages the production process and rise in the awareness of consumers associated with preventive healthcare across the globe.This has promoted the growth ofthe omega-3 market in China, India, Japan, and Australia.

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Significant developments that can change the business landscape as well as market forecasts

The share of the source segmentation was calculated based on the share of the type segmentation. ALA is mainly found in plant oils; however, some part of it comes from the marine sources. Whereas, EPA and DHA are obtained from marine sources only.

The growing number of omega-3 manufacturers in the US and the largest number of existing companies in the country are factors considered for the higher CAGR of the country in the market.

The falling supply of fish stocks and lack of aquaculture management due to sustainability issues have made manufacturers shift to plant alternatives. Due to this reason, the plant source segment is growing at a relatively higher rate.

A majority of the infant and mother nutrition products in the US are now DHA-fortified. Due to this reason, the market for infant formula and DHA are growing at a higher rate in the country.

The rising number of health concerns among the various age groups across the world has resulted in an increasing demand for omega-3 supplements that target specific ailments, which, in turn, drive the market. Recent launches and research in infant and mother nutrition products for infant brain development have resulted in high usage of DHA in these products, which has significantly affected market growth.

Addition to/Refinement in segmentation – Increase in depth or width of segmentation

Type(with more scope): In the previous edition of the report, theomega-3market, on the basis of type, was segmented as follows:

  • Marine sources
    • Fish oil
    • Algal oil
    • Krill oil
    • Other marine oils
  • Plant sources
    • Flaxseed oil
    • Chia seed oil
    • Other plant sources

In the latest edition, market sizing and forecasting are provided for the following segmentation:

  • Marine sources
    • Fish oil
    • Algal oil
    • Krill oil
    • Other marine oils
  • Plant sources
    • Nuts & seeds
    • Vegetable oils

Coverage of new market players, change in the market ranking of existing players

Company Profiles: Company profiles offer a glimpse of the key players in the market with respect to business overview, financials, product offerings, and recent developments. In the new edition of the report, a few additional players have been profiled—Epax (Norway), Golden Omega (Chile), Kinomega (China), Sinomega (China), BASF (Germany), Lonza (Switzerland), Huatai Biopharm (China), KD Pharma (Germany), Runke Bioengineering (China), Nordic Naturals (US), Algisys (US), Biosearch Life (Spain), and Corbion (Netherlands).

These players have emerged as key players in recent years, due to various strategic investments, acquisitions, and product launches in emerging markets of omega-3. These strategic developments have challenged the status quo of the industry leaders, and it was prudent to analyze the changing business landscape.

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Case Studies/Commercialization of Concepts/New Use Cases

  • Use of spray drying technology is cost-effective over emulsion-based technologies for microencapsulation of omega-3 fatty acids. Several market players are expanding their portfolios into microencapsulated omega-3 products to achieve future revenue mix. Here are a few instances:
    • Skuny Bioscience (China) has launched microencapsulated powder of omega-3 under the brand name, Megafullife,which is produced from plant-based sources.
    • Functional Mikron (Brazil) has launched microencapsulated powder of omega-3 in order to achieve higher bioavailability in the products.
  • In 2016, the Marine Ingredients Organization published a report stating that the fishing of anchovy is reduced due to the feed and fish stock management. Due to this, fish oil production is reducing at the rate of 900/800,000 metric tons per year.

These studies are considered as new use cases, which are influencing the growth rate of theomega-3market significantly.

New data points/analysis(frameworks) that were not present in the previous version of the report

  • During the production cycle of the report, in-depth interviews were conducted with various primary respondents, which include key opinion leaders, subject matter experts, directors, and C-level executives of the demand-side and supply-side stakeholders of the omega-3 market, to obtain and verify critical qualitative and quantitative information. This primary data was collected mainly through questionnaires, emails, and telephonic interviews.
  • The recent developments of the top 39 players offering omega-3were mapped in the new edition of the report, to understand and forecast future growth trends.
  • Comprehensive analysis of market dynamics such as drivers, restraints, opportunities, and challenges was also added to this report.
  • Regulatory data is provided in this version of report.
  • Fish oil production data for various countries is also provided in the current version of the report.

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