New York, USA, July 25, 2024 (GLOBE NEWSWIRE) -- Market Overview:
The Omega 3 Market was estimated at USD 2,336.39 million in 2023. The market valuation is expected to be USD 4,459.28 million by 2032, registering a staggering CAGR of 7.6% during the forecast period of 2024-2032.
What is Omega 3?
Omega 3 fatty acids are polyunsaturated fats that execute vital operations in the body. The body cannot generate the aggregate of omega 3s one requires to sustain. Thus omega 3 fatty acids are necessary nutrients indicating one requires to obtain them from the food one consumes. Omega 3 fatty acids assist the cells in the body's operation as they should. They are an important segment of the cell membranes assisting to provide framework and reinforcing interplay amidst cells. While they are vital to all the cells, omega 3s are intense in excessive levels in the cells in the eyes and brain. Further, omega 3 offers the body energy and reinforces the well-being of several body systems. This involves the cardiovascular system and endocrine system.
Key Market Stats:
- Omega 3 market size was valued at USD 2,336.39 million in 2023.
- The market is anticipated to grow from USD 2,477.74 million in 2024 to USD 4,459.28 million by 2032.
- The market is expected to exhibit a CAGR of 7.6% during the forecast period.
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Major Findings from the Report:
- The market for omega 3 is expected to increase significantly due to the growing geriatric population, together with the existence of detrimental illnesses has reinforced the demand for omega 3 supplements as a segment of wholesome lifestyle instruction.
- The omega 3 market segmentation is mainly based on type, source, application and region.
- North America registered as the largest market share.
Omega 3 Market Drivers and Trends:
- Growing Usage in Functional Foods: Global demand for omega 3 is rising significantly due to its manifestation in functional foods and beverages indulging in particular health requirements. Further, technological progression in removal and processing methodologies have improved the obtainability and bioavailability of omega 3 supplements boosting the market growth.
- Growing Usage in End-Use Industries: The market is growing notably because of their augmenting application covering several end-use industries. These fatty acids, acknowledged for their sizeable health benefits, are growingly utilized in the pharmaceutical and nutraceuticals sector as well as in food and beverages, cosmetics, and animal feed industries.
- The Growing Cases of Chronic Diseases: The growing existence of detrimental illnesses, especially cardiovascular diseases, has additionally pushed the demand for fatty acids as both an inhibitory and curative method. Nations such as India and China are encountering a rise in heart disease cases, generating a sizeable market for heart health commodities that contain omega 3s, thus propelling the omega 3 market forward.
- Increasing Usage in Cosmetics: The escalating usage of omega 3 in cosmetics and personal care commodities is notably pushing the market demand. Omega 3 fatty acids acknowledged for their anti-inflammatory and skin sustenance attributes are becoming growingly approved in skin care and hair care formulations.
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Industry’s Prominent Players
- AKER BIOMARINE
- BASF SE
- Croda International Plc
- Corbion
- Cargill Inc.
- DSM-Firmenich AG
- GC Rieber
Geographical Landscape:
North America accounted for the most omega 3 market share. This is due to growing consumer consciousness of health advantages linked with omega 3 fatty acids and their escalating consolidation into several foods and dietary supplements. Also, the growing existence of detrimental illnesses such as cardiovascular disorders, arthritis, and cognitive impairments is pushing the market growth in the region.
Moreover, due to people becoming more health aware, there is a movement towards deterrent healthcare; the Asia Pacific region is anticipated to grow at the quickest rate over the forecast period, with a robust compound annual growth rate (CAGR).
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Market Segmentation:
By Type Outlook
- DHA (Docosahexaenoic Acid)
- ALA (Alpha Linolenic Acid)
- EPA (Eicosapentaenoic Acid)
By Source Outlook
- Plant-Based
- Marine-Based
By Application Outlook
- Pharmaceutical
- Dietary Supplements
- Animal Feed & Pet Food
- Functional Food & Beverages
- Infant Formula
By Regional Outlook
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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