Fort Collins, Colorado, April 11, 2024 (GLOBE NEWSWIRE) --
Growing Awareness among Consumers for the Benefits of Omega-3 Fatty Acids to Drive Industry Growth.
The increasing health consciousness among consumers and growing awareness regarding the benefits of omega-3 fatty acids serve as significant drivers for the omega-3 market. Omega-3s are recognized for their contributions to heart health, brain function, eye health, and their ability to reduce inflammation. According to a survey conducted by the Global Organization for EPA and DHA Omega-3s (GOED), 77% of consumers worldwide are knowledgeable about omega-3s, with 71% believing in their overall health benefits. The escalating prevalence of chronic diseases such as cardiovascular disorders, cognitive decline, and inflammatory conditions has further stimulated the demand for omega-3 supplements and fortified foods. The COVID-19 pandemic has also heightened consumer interest in immunity-boosting products, including those containing omega-3s.
The emergence of plant-based and sustainable sources of omega-3 presents a noteworthy opportunity for the omega-3 market. Algal oil, sourced from microalgae, is gaining traction as a promising substitute for fish oil due to its renewable, sustainable, and vegan-friendly nature. The algae industry's expansion is anticipated to positively influence the plant-based omega-3 market. Furthermore, advancements in technologies for extracting and purifying omega-3s from plant sources, including genetically modified crops and fermentation processes, are poised to generate fresh avenues for market growth.
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Segmentation Overview:
The omega-3 market has been segmented into source, product type, application, and region.
EPA and DHA Omega-3 Acids Accounted for a Significant Market Share in 2023.
- In 2023, Eicosapentaenoic Acid (EPA) and Docosahexaenoic Acid (DHA) collectively hold the largest share in the omega-3 market by product type. EPA and DHA are the most researched and scientifically validated omega-3 fatty acids, known for their numerous health benefits, particularly in supporting cardiovascular health, brain function, and reducing inflammation.
Fish Remains the Largest Source of Omega-3 Acid, and the Segment is anticipated to have positive growth.
- In 2023, fish oil remains the largest sub-segment in the omega-3 market by source. Due to its abundant availability and established extraction and purification processes, fish oil has been the traditional and most widely used source of omega-3 fatty acids, particularly EPA and DHA. The dominance of fish oil can be attributed to its cost-effectiveness compared to other sources and its wide acceptance among consumers.
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Omega-3 Market Report Highlights:
- The omega-3 market growth is anticipated at a CAGR of 6.7% by 2032.
- The availability of omega-3-rich foods and a rise in consumer awareness are expected to propel the industry growth.
- North America is currently the largest market for omega-3 products, accounting for a significant share of the global market in 2023. The region's dominance can be attributed to the high awareness of omega-3 health benefits, the presence of key market players, and the wide availability of omega-3-fortified foods and supplements.
- Some prominent players in the omega-3 market report include DSM, BASF, Orkla Health, Lonza, KD Pharma, Nordic Naturals, Corbion, Cargill, GC Rieber VivoMega, Divi's Nutraceuticals, Nuseed, and Evonik.
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