Global Omega 3 Market Report and Forecast 2024-2032

Global Omega 3 Market Outlook

The global omega 3 market reached a value of about USD 3.54 billion in 2023. The market is further expected to grow at a CAGR of 8% in the forecast period of 2024-2032.

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Growing Demand for Fish Oil to Augment the Omega 3 Industry Growth

Based on source, the fish oil segment under the marine sector accounts for a significant share in the omega 3 industry. The high content of EPA (eicosapentaenoic acid) and DHA (docosahexaenoic acid) present in fish oil are responsible for driving the market growth. The species like anchovies and sardines are rich in omega-3 fatty acids and other species like tuna and salmon are also a popular choice among manufacturers. In addition, the increase in demand for medication with fish oil, increasing prevalence of chronic diseases, and the health benefits it offers are also contributing to the market growth.

The Asia Pacific Region to Provide Enhanced Growth Opportunities to the Omega 3 Industry

Region-wise, the Asia Pacific is expected to witness a robust growth over the forecast period owing to the high demand for fortified food in the region. Furthermore, countries like China, India, and South Korea are expected to significantly contribute to the industry growth due to the growing food supplement market in the regions.

Omega 3 Market Segmentation

Omega 3 is a class of essential fatty acids found in fish oils. It helps to lower blood cholesterol and LDL (low-density lipoprotein) levels, especially those of salmon and other cold-water fish. (The "bad" cholesterol is LDL cholesterol.) The two principal omega-3 fatty acids are EPA (eicosapentaenoic acid) and DHA (docosahexaenoic acid).

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By source, the market is divided into:

• Marine Source
  • Fish Oil
  • Algal Oil
  • Krill Oil
  • Others
• Plant Source
  • Nuts and Seeds
  • Vegetable Oil
  • Soy
  • Others 

Based on product type, the market is categorised into:

• Docosahexaenoic Acid (DHA) 
• Alpha-linolenic Acid (ALA)  
• Eicosapentaenoic Acid (EPA) 
• Others

By distribution channel, the market is segmented into:

• Hypermarkets and Supermarkets
• Pharmacies and Drug Stores
• Online
• Others

On the basis of application, the market is categorised into:

• Dietary Supplements
• Pharmaceuticals 
• Animal Feed and Pet Food
• Food and Beverage 
• Infant Formulas 
• Others 

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Rise in Prevalence of Diseases to Bolster the Growth of the Omega 3 Industry

With the growth in people being forced to choose a sedentary lifestyle because of work, more and more people are getting affected by chronic as well as lifestyle disorders. The rise in the prevalence of diseases such as heart and joint inflammation, combined with the increase in population globally, is likely to increase the demand for medication and food products containing omega 3 fatty acids. This will lead to the growth of the market. Further, the increase in demand for DHA and EPA in diet has impacted the industry in a positive way. Even though there are many benefits related to fish oil, the cost of the supplement is quite high and unstable because of the high price of fishes used as an ingredient. Thus, this may hinder the growth of the omega 3 industry.

Over the forecast period, growth of the food supplement industry and the rising awareness about the benefits of fish oil are expected to favour the industry growth. The worldwide increase in the number of people affected by cardiovascular diseases is expected to aid the industry growth in the coming years.

Key Industry Players in the Global Omega 3 Market

The report gives a detailed analysis of the following key players in the global omega 3 market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Cargill Incorporated 
• Reckitt Benckiser Group plc  
• Aker Biomarine Antarctic As    
• BASF SE 
• Omega Protein Corporation 
• Unilever Plc 
• Koninklijke DSM N.V.   
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report