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Omega-3 Global Market Report 2023
Major players in the omega-3 market are Royal DSM NV, BASF SE, Lonza, Epax, Croda International PLC., Golden Omega, Aker Biomarine Antarctic AS, Orkla Health, Bioprocess Algae Llc, Polaris, Corbion, Omega Protein Corporation, Cargill Inc.
New York, March 07, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Omega-3 Global Market Report 2023" - https://www.reportlinker.com/p06320089/?utm_source=GNW
, Evonik, and Unilever.
The global omega-3 market grew from $2.89 billion in 2022 to $3.12 billion in 2023 at a compound annual growth rate (CAGR) of 7.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The omega-3 market is expected to grow to $4.28 billion in 2027 at a CAGR of 8.3%.
The omega 3 market consists of sales of fish and seafood, nut, seeds, plant oils.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The omega 3 refer to the sort of fatty acids that play an important role in the human body.Omega 3 is available in fatty fish, fish oils, flax seeds, chia seeds, linseed oil, and walnuts.
It provides a variety of health benefits like lower blood pressure, reduce triglycerides, slowing the event of plaque within the arteries, reducing the prospect of abnormal cardiac rhythm, reducing the likelihood of coronary failure and stroke, and lessening the possibility of sudden cardiac death in people with a heart condition.
North America was the largest region in the omega-3 market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the omega-3 market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of omega-3 include ALA (alpha-linolenic acid), DHA (docosahexaenoic acid), and EPA (eicosapentaenoic acid).The alpha-linolenic acid (ALA) products refer to products derived from short-chain omega-3 fatty acid, which are found in plant products such as flaxseed and soybean oils.
These products are used for diseases of the heart and blood vessels, such as hardening of the arteries, heart disease, and high blood.These are extracted from various sources plants, vegetable oil, nuts and seeds, soy, marine source, and others.
These Omega-3 supplements are distributed through various channels which include, supermarkets/hypermarkets, pharmacies and drug stores, online retailers, and other distribution channels. The applications of omega-3 products include supplements & functional foods, pharmaceuticals, infant formula, animal feed & pet food, and others.
The growing demand for immunity-boosting dietary supplements global will drive the Omega-3 market.Dietary supplements can assist manage various health issues and enhance general health.
Certain dietary supplements, when used correctly, can help lower the risk of certain diseases.Individuals across the globe are increasing spending on immunity-boosting dietary supplements to counter emerging viruses and keep them healthy against possible health-related difficulties.
For instance, according to the Council for Responsible Nutrition survey 2020, a US-based trade association for ingredient suppliers and manufacturers in the dietary supplement industry, approximately 43% of supplement users have altered their supplement regimens after the pandemic, whereas 91% of these users report an increase in supplement intake, including the addition of new supplements to an existing routine (46%), the taking of the same supplements more frequently (25%), or the increasing of doses (22%). Therefore, increasing demand for immunity-boosting dietary supplements is expected to boost demand for omega-3 products during the forecast period.
Technological advancements are a key trend gaining popularity in the omega-3 market.Manufacturers operating in omega-3 market are focusing on utilizing advanced technologies to remove environmental pollutants, minimizing oxidation, and concentrating the omega-3 content in the final product to assure optimal delivery of the healthy parameters.
For instance, Sweden-based omega-3 maker, Smartfish has introduced manufacturing techniques that prevent the oxidation of oil and provide high-temperature resistance. In another instance, Enzymotec manufactures krill oil, K-REAL through Multi-Stage Oil (MSO) extraction technology, wherein K-REAL is clinically proven to be more efficient than fish oil that increases omega-3 levels in human blood.
In November 2020, Unilever, a UK-based leading multinational consumer goods company acquired SmartyPants Vitamins for an undisclosed amount.The acquisition strengthens the businesses in improving the health and wellbeing of consumers and empowers people to take charge of their health with solutions they can understand and trust.
SmartyPants Vitamins is a US-based vitamin, mineral, and supplement manufacturing company with a focus on the well-being of children and adults.
The countries covered in the omega-3 market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The omega-3 market research report is one of a series of new reports that provides omega-3 market statistics, including omega-3 industry global market size, regional shares, competitors with a omega-3 market share, detailed omega-3 market segments, market trends and opportunities, and any further data you may need to thrive in the omega-3 industry. This omega-3 market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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