The global omega 3 market size is expected to reach USD 3.82 billion by 2028, registering a CAGR of 7.8% over the forecast period. DHA and EPA can help improve brain health in children and heart health in adults, which is likely to boost the market growth. The rising scope of applications of omega 3 in pharmaceuticals is also supporting product consumption. Players are focusing on offering high-quality pharma-grade omega 3. For instance, FMC Corp.'s Epax brand offers concentrated marine omega-3 fatty acids sourced from sustainable and traceable raw materials and caters to the requirements of high-quality pharmaceutical ingredients.
The global market is characterized by the presence of prominent players, such as BASF SE, Koninklijke DSM N.V., Lonza, and Croda International Plc, which is expected to increase the competition. Players are focusing on catering to specific client requirements to widen the customer base.
For instance, Crius Life Sciences have the formulation capacity of producing EPA/DHA with concentration level according to the client needs, such functionality offers a higher degree of freedom. Companies are utilizing krill oil as an alternative source to fish oil due to rising levels of contamination in fish oil. For instance, in November 2019, Aker BioMarine and Acasti Pharma signed a krill oil supply agreement to develop an innovative hypertriglyceridemia drug, using krill oil as its core ingredient.
Omega 3 Market Report Highlights
Eicosapentaenoic Acid (EPA) held a revenue share of 25.3% in 2020 and is expected to grow rapidly over the forecast period owing to the rising demand from the pharmaceutical industry
For instance, BASF SE offers Maxomega EPA 97 EE eicosapentaenoic acid ethyl ester that can be used in Japanese "Epadel", and American "Vascepa" drugs for its benefits in cardiovascular health
Manufacturers focus more on new product development to strengthen their market presence. For instance, in November 2019, BASF launched Hepacor, which contains highly concentrated purified EPA and DHA, for the dietary management of Non-Alcoholic Fatty Liver Disease (NAFLD)
The marine source segment is expected to register the fastest CAGR of 8.1% over the forecast period owing to the rising production of omega 3 from non-fish-based marine sources, such as krill and algal oils
Algal oil is gaining popularity among vegan consumers as it does not contain traces of fish oil or fishy odor
Companies are exploring alternative sources to marine species owing to the rising adoption of plant-based products globally
For instance, in August 2019, Cargill received approval for producing omega 3 sourced from canola, which can be widely used in the aquaculture feed industry
The infant formula segment is expected to grow at the fastest CAGR over the forecast period owing to the rising awareness about infant nutrition
Growing consumption of breast milk substitutes, which closely resemble the functionality and composition of breast milk, is also anticipated to drive the infant formula segment
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Omega 3 Market: Variables, Trends & Scope 3.1. Market Lineage Outlook 3.1.1. Parent Market Outlook 126.96.36.199. Functional Ingredients 188.8.131.52. Nutraceuticals and Functional Foods 3.1.2. Related Market Outlook 184.108.40.206. Fish Oil 220.127.116.11. Krill Oil 3.2. Penetration & Growth Prospect Mapping 3.3. Value Chain Analysis 3.3.1. Raw Material Trends 18.104.22.168. Fish Oil 3.3.2. Manufacturing Trends 22.214.171.124. Technology Trends 126.96.36.199.1. Omega-3 188.8.131.52.2. Krill Oil 184.108.40.206. Outsourcing and Contract Manufacturing Trends 3.3.3. Profit Margin Analysis 220.127.116.11. Average Selling Price Analysis 18.104.22.168. Dha & Epa Average Price Analysis 3.3.4. Sales Channel Analysis 3.3.5. Vendor Selection Criteria 3.4. Omega-3 Analysis 3.4.1. New Products 3.5. Technology Overview 3.5.1. Technology Trends 22.214.171.124. Omega-3 126.96.36.199. Krill Oil 188.8.131.52.1. Multi Stage Oil Extraction 3.6. Regulatory Framework 3.6.1. Product Classification Codes 3.6.2. Standards Andcompliances 3.6.3. Safety 3.7. Market Dynamics 3.7.1. Market Driver Analysis 184.108.40.206. Rising Penetration of Omega 3 in Active Pharmaceutical Ingredient Market 220.127.116.11. Growing Demand for Dietary Supplements 3.7.2. Market Restraint Analysis 18.104.22.168. Declining Growth Rate of Fish Production 3.7.3. Industry Challenges 22.214.171.124. Restricted Supply of Alternative Sources 3.8. Business Environmental Analysis 3.8.1. Industry Analysis: Porter's 126.96.36.199. Bargaining Power of Suppliers 188.8.131.52. Bargaining Power of Buyers 184.108.40.206. Threat of Substitution 220.127.116.11. Threat of New Entrants 18.104.22.168. Competitive Rivalry 3.8.2. PESTLE Analysis 22.214.171.124. Political Landscape 126.96.36.199. Environmental Landscape 188.8.131.52. Social Landscape 184.108.40.206. Technology Landscape 220.127.116.11. Economic Landscape 18.104.22.168. Legal Landscape 3.8.3. Major Deals & Strategic Alliances 22.214.171.124. Joint Ventures 126.96.36.199. Mergers & Acquisitions 188.8.131.52. Licensing & Partnership 184.108.40.206. Capacity Expansion 220.127.116.11. Product Development 18.104.22.168. Technological Advancement 3.9. Market Entry Strategies