PLEASANTON CA , Sept. 08, 2021 (GLOBE NEWSWIRE) -- ResearchCMFE have published new report “Omega-3 Market By Type (DHA, EPA, and ALA), Application (Dietary Supplements, Functional Foods & Beverages, Pharmaceuticals, Infant Formula, and Pet Food & Feed), Source (Marine and Plant), Concentration of Ingredient and Region - Global Forecasts 2017 to 2027”
The Global Omega-3 industry was valued at USD 4.52 billion in the base year 2020, and is projected to reach USD 10.73 billion by 2027, with a CAGR of 13.1% during the forecast period (2017-2027).
The major factor attributing to the growth in Omega-3 market is the rising incidences of cardiovascular diseases (CVDs) among individuals across the globe. Increasing instances of sedentary lifestyle among the young population have resulted in surging case of CVDs. Individuals at risk of CVD often demonstrate severe conditions such as raised glucose and lipids, high blood pressure, obesity and overweight, thereby are more prone to heart attacks and strokes.
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According to WHO, in 2019, an estimated 17.9 million people died from CVDs representing 32% of all global deaths. Among these, 85% of the deaths were a result of stroke and heart attack. Therefore, there has been an increasing need for identifying individuals at high risk of CVDs and ensuring that they receive appropriate treatment to prevent premature deaths. Omega-3 fatty acids are widely used for reducing the risk of arrhythmias or abnormal heartbeats, which can sometimes result in sudden death of the patient. The American Heart Association (AHA) has recommended the use of Omega-3s obtained from fish and fish oil to reduce cardiovascular events in people who are already suffering from cardiovascular disease (CVD). In addition, Omega-3 is also used in reducing triglyceride levels, lowering blood pressure levels and slowing down the growth rate of atherosclerotic plaque. Therefore, growing CVDs along with rising concerns regarding health issues are the prominent factors for fuelling the growth of Omega-3 market.
Furthermore, increasing requirement of supplements by growing number of athletes across the globe is also expected to drive the omega-3 market. Omega-3 offers anti-inflammatory properties to the body that helps in combatting muscle soreness and reduces muscle swelling after exercise. It also facilitates faster muscle recovery by reducing the damages done by free radicals to the tissue. Besides these advantages, Omega – 3 play a crucial role in enhancing protein synthesis process in the body. It enables the body in turning protein into the fuel which is needed by muscles to stay strong, grow and repair themselves. Owing to the aforementioned benefits, there has been rapid increase in the demand of Omega-3 supplements by athletes, which is thereby blooming the growth of Omega-3 market.
Global Omega-3 Market by Region Outlook (Revenue, USD Billion, 2017-2027)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Based on region, North America held the largest share in the Omega-3 market across the globe. This growth is attributed to the developed healthcare infrastructure, early diagnosis strong presence of trained medical professionals, and a larger target population in the region. A major population in North America is facing several health issues relating to increased obesity levels and lifestyle-related diseases. This is due to the popularity of various ready-to-eat and processed foods, which is majorly impacting the health of people in this region. Owing to this, U.S. accounts for the highest obesity rate across the globe which is highly impacting the Omega-3 market in this region. According to Centers of Disease Control and Prevention (CDC), during 1999–2018, the obesity rate in U.S. increased from 30.5% to 42.4% and the prevalence of severe obesity increased from 4.7% to 9.2%. In addition, the data released by American Heart Association Research in 2018 shows that approximately 2,300 Americans die each day due to cardiovascular diseases, which is an average of one death every 38 seconds. Given the direct correlation between obesity and heart diseases, the demand of Omega-3 supplements is high in the U.S., which is thereby driving the growth of Omega-3 market in the region.
The Global Omega-3 Industry Segmentation:
Global Omega-3 Market Product Type Outlook (Revenue, USD Billion, 2017-2027)
- Docosahexaenoic acid (DHA)
- Eicosapentaenoic acid (EPA)
- Alpha-linolenic acid (ALA)
Global Omega-3 Market Application Outlook (Revenue, USD Billion, 2017-2027)
- Functional food & beverages
- Pharmaceuticals
- Infant formula
- Pet food & feed
- Others
Global Omega-3 Market Source Outlook (Revenue, USD Billion, 2017-2027)
Marine source
- Fish Oil
- Algal Oil
- Krill Oil
- Others
Plant source
- Nuts & Seeds
- Vegetable Oils
- Soy
Global Omega-3 Market Concentration Outlook (Revenue, USD Billion, 2017-2027)
- 18/12 (30% Omega-3) Fish Oils
- Omega-3 Low Concentrate (40% to 55%)
- Omega-3 Medium Concentrate (60% to 80%)
- Omega-3 High Concentrate (above 85%)
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Key Findings:
- Based on source, marine segment is projected to be fastest-growing industry in the Omega-3 market during the forecast period.
- Based on type, the docosahexaenoic acid (DHA) segment has dominated the Omega-3 market in 2020 and is expected to hold the same position during the forecast period.
- Based on application, the supplements & functional food segment is estimated to dominate the Omega-3 market during the forecast period.
- Based on region, North America held the largest share in the global Omega-3 market in the base year 2020.
- Based on region, Asia-Pacific is projected attain the fastest growth in Omega-3 market during the forecast period.
Company Profiles and Competitive Intelligence
The key players operating in the Omega-3 market are:
- Cargill
- Orkla Health
- BASF SE
- Lonza
- Croda International
- KD Pharma
- GC Rieber
- Corbion
- Epax
- Aker Biomarine Antarctic AS
- Pharma Marine AS
- BioProcess Algae
- Koninklijke DSM N.V.
- Golden Omega
- TASA
- Omega Protein
- Croda
- GC Rieber
Recent News:
- In July 22, 2021, Neptune Wellness Solutions Inc., a fully integrated and diversified health and wellness enterprise focused on plant-based and sustainable lifestyle brands, has announced the launch of Forest Remedies' plant-based Multi Omega 3-6-9 gummies and soft gels.
- In April 12, 2021, The KD Pharma Group, global leader in lipid technology primarily focused on omega-3s, announced to acquire the phyoextract and CBD manufacturing assets of a Swiss-based cannabinoid manufacturer. These assets will help the company in getting access to technology for manufacturing Active Pharmaceutical Ingredients (APIs) based on Phyto cannabinoids and other plant extracts.
- In September 2019, Epax, a leading global brand of premium omega-3 ingredients announced an investment amounting to USD 35 million for the innovation and development of its Omega-3 sector. This investment will allow the company to improve capacity in the omega-3 industry at its manufacturing site in Norway.
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