Global Omega Ingredients Market Report and Forecast 2024-2032

Global Omega Ingredients Market Outlook

The global omega ingredients market is estimated to grow at a CAGR of 8.40% in the forecast period of 2024-2032.

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Rising Inclination towards Plant-Based Omega to Propel the Market Growth of Omega Ingredients

Based on source, the increasing demand for naturally-sourced, traceable, and clean-label food supplements, such as plant-based omega, is driving the market growth of omega ingredients. There is a rising inclination of consumers towards an affordable and sustainable alternative to animal-based omega ingredients. The growing trend of veganism and the rising concerns of consumers over protecting the marine ecosystems and biodiversity are significantly catalysing the market development. The depletion of essential fisheries due to overfishing and other environmental issues such as climate change is resulting in increased preference for plant-based alternatives to meet the demands of the world’s growing population. The plant-based omega ingredient is a viable and sustainable source of omega-3 that does not contribute to the depletion of natural resources. The new product launches by the market players to attract a new generation of consumers who are looking for sustainable ways to boost their overall health are likely to aid the market over the forecast period.

Market Segmentation

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Omega ingredients are polyunsaturated fatty acids found in fish, plants, and algae. Omega 3 ingredients include ALA (alpha-linolenic acid), DHA (Docosahexanoic acid), and EPA (Eicosapentaenoic acid). They help in the brain, nerve, and eye development of infants. Omega 6 consists of LA (Linoleic acid), ARA (Arachidonic Acid), GLA (Gamma linoleic), and CLA (Conjugated linoleic acid). Omega-6 fats play a critical role in promoting immune health and blood clotting. Omega 9 is made of Oleic acid and Erucic acid.

The market for omega ingredients, by source, is divided into:

• Fish
• Algae
• Plant

Based on type, the market is segmented into:

• Omega-3
• Omega-6 and Omega-9

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

• Food and Beverage
• Dietary Supplements
• Pharmaceutical
• Animal Nutrition

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The regional markets for omega ingredients can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Growing Health Consciousness to Drive the Market Growth of Omega Ingredients

The pandemic bolstered the market for omega ingredients in 2020 as there was an increased intake of health supplements due to their anti-inflammatory and anti-viral properties. The rising consumption of omega-3 supplements and food products by health-conscious people during the pandemic contributed to the market expansion. The health benefits of omega ingredients include improving cardiac health, fighting inflammation, supporting mental health, and helping infant brain development. The emergence of e-commerce, expansion of supermarkets, and rising purchasing power, coupled with the easy availability of omega based supplements through these channels are further bolstering the market growth of omega ingredients. Additionally, the growing working-class segment and their intake of omega rich products to boost metabolism and the rising demand for nutraceuticals to enhance the cognitive health of children are also accelerating the market development. Furthermore, there has been an increase in research activities to develop bioavailable omega ingredients, such as microalgae, as an alternative to fish and sea products. For instance, in October 2020, researchers discovered a new way to detect lipid production inside living microalgae, which could assist in the development of omega-3 supplements.  The efforts made by the key market players to expand their offerings of high-quality, reliable products are expected to augment the market over the forecast period.

Key Players in the Global Omega Ingredients Market

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

• BASF SE
• Unilever Plc
• Koninklijke DSM NV
• Polaris SA
• Corbion NV
• Cargill Incorporated 
• AlgaeCytes Limited
• Cellana Inc.
• 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