Delray Beach, FL, Oct. 31, 2024 (GLOBE NEWSWIRE) -- According to MarketsandMarkets, the omega-3 market size is projected to reach USD 7.4 billion by 2029 from USD 3.9 billion by 2024, at a CAGR of 13.5% during the forecast period in terms of value. This surge is driven by innovative product technologies that enhance the effectiveness, absorption, stability, taste, and convenience of Omega-3 supplements and fortified foods.
Technological Innovations
Recent advancements include the encapsulation of Omega-3 oils within microscopic particles, which protects them from degradation and improves taste. Furthermore, targeted delivery systems are being developed to address specific health needs, such as cognitive health and joint function. These innovations not only enhance the appeal of Omega-3 products but also significantly contribute to market growth.
Asia Pacific’s Omega-3 Market: Riding the Wave of Rapid Growth
The Asia Pacific region is expected to see the fastest growth in value, thanks to regulatory endorsements of health claims associated with Omega-3 fatty acids. These claims enhance consumer confidence, driving demand as more individuals seek to improve their overall health and wellness. The rise in chronic health issues, such as cardiovascular disease and obesity, coupled with lifestyle changes, has further propelled the demand for Omega-3 supplements.
The Supplement Surge: How Dietary Products are Shaping the Omega-3 Landscape
The dietary supplements segment is estimated to dominate the Omega-3 market, reflecting a trend towards proactive health management. With recognized health benefits for heart, cognitive, and joint health, Omega-3 supplements are gaining traction among health-conscious consumers. Regulatory backing for health claims reinforces consumer trust, ensuring the continued dominance of this segment.
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Opportunities in Alternative Sources
Research focused on developing alternative sources of Omega-3, such as algae, flaxseed, and chia seeds, presents significant opportunities. These sources are more sustainable and scalable, reducing reliance on traditional fish oil extraction methods. The growing demand for plant-based options appeals to environmentally conscious consumers, expanding the market further.
DHA's Hold the largest Industry Share
The Docosahexaenoic Acid (DHA) segment is anticipated to hold the largest Omega-3 market share due to its critical role in brain health and development. Technological advancements have made DHA more accessible, leading to targeted applications in pregnancy supplements and infant formulas.
The Omega-3 market is poised for significant growth, driven by innovative technologies, rising health consciousness, and the exploration of sustainable sources. As consumer preferences evolve, the market is set to cater to diverse needs, ensuring a thriving landscape focused on holistic health and well-being. The future looks bright for Omega-3 products, with ample opportunities for innovation and expansion.
Eicosapentaenoic Acid (EPA): The Fastest-Growing Star of the Omega-3 Market
Among Omega-3 types, Eicosapentaenoic Acid (EPA) is projected to grow at the highest CAGR during the forecast period. Extensive clinical research has established EPA’s effectiveness in managing various health conditions, including cardiovascular diseases and inflammation. This scientific backing boosts consumer confidence and drives demand.
Marine Sources Lead the Global Omega-3 Market
Marine sources, including fish oil and krill oil, are expected to dominate the global Omega-3 market. These sources offer high bioavailability, making them more effective in delivering health benefits. The long-standing presence of marine-derived Omega-3 supplements has fostered strong consumer trust.
How Are Manufacturers Responding to the Increasing Demand For Omega-3 Supplements In North America?
In North America, the demand for Omega-3 is increasing, particularly in dietary supplement applications, driven by the recognition of Omega-3's benefits health. Omega-3 fatty acids are among the most popular dietary supplements, known for their potential benefits for heart health, brain function, and overall well-being. The demand for omega-3 supplements in North America has been steadily increasing due to rising awareness about their health benefits and the inclusion of omega-3 in various health recommendations.
Recent Breakthroughs in the Omega-3 Industry: What You Need to Know
- In February 2023, GC Rieber VivoMega has introduced VivoMega Algae Oils, a line of high-concentration vegan Omega-3 sourced from microalgae and sourced from the ocean.
- In March 2023, Pelagia has invested USD 40 million in the facility of Epax which is subsidiary of Pelagia in Aalesund. This facility will help the company to implement new technology known as EOP+Tech for EPA & DHA products.
- In September 2023, in a collaborative effort, Aker BioMarine and Swisse introduced a groundbreaking product within Australia's Listed Assessed medicine category. Swisse Ultiboost High Strength Krill Oil, incorporating Aker BioMarine's Superba Boost Krill oil, received approval and is now listed on the Australia Register of Therapeutic Goods (ARTG) under AUST L(A) 417392.
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Navigating the Omega-3 Market: Insights into Industry Leaders BASF, Cargill, DSM-Firmenich, and Aker BioMarine
- BASF SE leverages over 180 years of expertise in Omega-3 innovation, producing high-quality solutions tailored for pharmaceutical APIs and nutritional supplements. Notable developments include the launch of its Hepacor solution in collaboration with Ideogen in November 2019.
- Cargill, Incorporated excels in specialty food ingredients and has strengthened its position in the Omega-3 market through partnerships, such as its recent collaboration with Cubig Foods in March 2023 to develop innovative plant-based fat ingredients.
- DSM-Firmenich offers a diverse portfolio of Omega-3 products suitable for various applications, including the recent introduction of Life's OMEGA 03020 in October 2023, a single-source algal Omega-3 supplement. These companies are not only shaping the Omega-3 landscape but also driving innovations that cater to the evolving consumer demand for health-enhancing nutritional solutions.
Discover More: Adjacent Market Reports for Comprehensive Insights
- Specialty Food Ingredients Market
- Nutraceutical Ingredients Market
- Functional Food Ingredients Market
- Marine Collagen Market
