Omega 3 Market is growing with a CAGR of 7.32% through 2026
Increase in consumer awareness of the health benefits of omega-3 and an increase in product profiling and emerging applications that are seeking innovative ways to drive the demand for Omega-3 Market growth.
Increased cognitive versatility of omega-3 which is currently gaining customer interest, DHA plays a vital role in the development and growth of the infant brain and also in the normal functioning of the adult brains owing to these factors it is among the most preferred omega-3 forms.
Most of the key manufacturers to produce marine omega-3 to meet the increasing demand for EPA and DHA which are not abundantly present in other plant-based sources.
Increase in usage of the Omega drug in the pharmaceutical industry to drive the global market growth. Further, its anti-inflammatory properties helps to treat specific health problems, including tumors, Alzheimer's disease, depression, osteoporosis, and CVDs.
In addition, the increased use of the drug in the manufacture of pharma-grade capsules to treat obesity will further boost the market demand.
As well, Omega-3 fatty acid intake to help improve working memory in healthy young adults and high levels of omega-3 do not prevent cognitive decline in older women.
However, Dietary supplementation with omega−3 fatty acids does not appear to affect the risk of death, cancer or heart disease.
North America and Europe to hold the major market share on comparison with other regions
North America's omega-3 market is largely driven by the United States as adults tend to consume omega-3 capsules made from fish oil as dietary supplements.
Whereas, Europe is set to observe a healthy growth over the forecast period 2020-2026, owing to increase in product consumption particularly in the procedure of dietary supplements coupled with increasing geriatric population in developed economies including Germany and France.
Furthermore, in terms of product demand the European region holds a significant share. For instance in 2019, KD Pharma presented a blend of omega-3 Kardio3 that aids in maintaining healthy lipids and supports heart and bone health.
Investments by firms in European region to create key opportunities for the production of new products. For example, in 2019, Epax invested 35 million USD for the innovation of its Omega-3 sector.
The rise in value of omega-3 fatty acids at universal level to have a positive impact on market growth owing to advertisement campaigns by major companies.
Further, Polaris launched Omegavie DHA 700 algae Sensory QualitySilver to help the company in the field of algal omega-3. Recently, Omega-3 supplementation to avert capsular contracture as scientists in Italy surgically inserted miniature implants in mice.
Collaboration, innovative unveilings and awareness webinars to boost the market share
New launches, awareness programs, partnership between the key players to enlarge the omega 3 market growth. For instance, in 2020, GC Rieber Oils collaborated with Barrington Nutritionals to distribute omega-3 to Mexico and United States.
Further, in 2020, The Global Organization for EPA and DHA Omega-3 and market research expert FMCG Gurus hosted a webinar on global omega-3 consumer behaviors and attitudes.
In addition, in 2020, NutraIngredients Europe hosted a webinar on Omega-3 to build trust and transparency for the conscientious consumers.
Moreover, in 2019, Coca-Cola launched a omega-3 beverage Gomega which contained 32mg of docosahexaenoic acid (DHA) omega-3s.
Also, in 2019, BASF and Ideogen launched the omega-3 solution to Europe for Non-Alcoholic Fatty liver disease (NAFLD).
Major key players participating in the Omega 3 market include Epax, Croda International, Golden Omega, GC Rieber, Kinomega, Sinomega, Cargill, DSM, Polaris, Pharma Marine, BASF, Lonza, Huatai Biopharm, KD Pharma, Runke Bioengineering, Nordic Naturals, Algysis, Biosearch life, Corbion, and Orkla Health among others.