Category : Healthcare and Pharmaceuticals | Published at : November-2020 | Delivery Format : PDF | Status: Published | Pages : 190
The global omega-3 market is anticipated to grow at a CAGR of around 7.9% during the forecast period 2020 to 2027 and to reach around US$ 4.5 Bn by 2027.
Market Dynamics
Gradual increase in number of patients suffering from cardiovascular diseases and rising awareness among consumers related to advantages of consumption of omega-3 fatty acids are major factors expected to drive the growth of global omega-3 market. According to U.S. Department of Health & Human Services, about 647,000 Americans die from heart disease each year which is 1 in every 4 deaths. Heart disease is the leading cause of death for men, women, and people of most racial and ethnic groups in the United States. In addition, increasing spending on development of enhanced products by players along with favorable government business policies are factors expected to support the growth of omega-3 market.
Major players are highly focused on strengthening the business through agreements and mergers which is expected to positively impact the growth of target market.
In 2019, KD Pharma a multinational company launched a product that is a blend of omega-3, vitamin K2, and phytosterols called Kardio3. The product helps in maintaining healthy lipids and supports heart and bone health. This product launch is expected to help the company to enhance the customer base and increase the product portfolio.
In 2019, Polaris a manufacturer of omega-3 launched product Omegavie DHA 700 algae Sensory QualitySilver that is majorly concentrated with DHA. The product is expected to help the company to enhance the reach in the field of algal omega-3 and increase the customer base.
In 2019, KD Pharma Group SA a multinational company acquired a manufacturing facility in UK with the focus to increase the capacity for manufacturing omega-3-based intermediates used in producing active pharmaceutical ingredients (APIs). This is expected to help the company to increase its revenue share.
In 2018, Corbion a global manufacturer of food and biochemicals products launched Alga Prime DHA with integrated microalgae. The product launch is expected to help the company to enhance the business and increase the revenue share.
In 2019, BASF Nutrition & Health in collaboration with Ideogen a Swiss pharmaceutical company launched omega-3 fatty acid solution to Europe that addresses the chronic condition Non-Alcoholic Fatty Liver Disease (NAFLD). This is expected to support the company revenue.
However, factors such as stringent government regulations related to product approval and side-effects of the omega-3 are expected to hamper the growth of global omega-3 market. In addition, competitive pricing is another factor expected to challenge the growth of target market.
Increasing investment for R&D activities and development of plant based products are factors expected to create new opportunities for players operating in the target market over the forecast period. In addition, players’ inclination towards tracking the untapped market in emerging economies is expected to support the revenue transaction of the omega-3 market.
Segment Analysis by Region
The market in North America is expected to account for major revenue share in the omega-3 market due to rising health concern among consumers. In addition, operation of large number of players in the region and high focus to enhance the customer base is expected to boost the growth of target market.
Moreover, introduction of innovative products and increasing merger activities to strengthen the product portfolio are factors expected to support the growth of target market.
Competitive Landscape
The global market is high highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.
Report coverage
|
Market |
Global Omega-3 Market |
|
Analysis Period |
2016 – 2027 |
|
Base Year |
2019 |
|
Forecast Data |
2020 – 2027 |
|
Market Stratification |
Type, Source, Application and Geography |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
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Report Coverage |
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
Omega-3 Market Segment Analysis, 2019
The global market is segmented into type, source, and application. The application segment is bifurcated into supplements & functional foods, pharmaceuticals, infant formulas, animal feed & pet food, and others. Among the application, the supplements & functional foods segment is expected to account for major revenue share in the target market.
The source segment is divided into marine source and plant source; among the source, the plant source is expected to witness faster growth in the target market.
The players profiled in the report are Aker BioMarine, Axellus, BASF SE, DSM, Omega Protein Corporation, GC Reiber Oils, KD Pharma, Guangdong Runke Bioengineering, Nordic Naturals, Golden Omega and Lonza.
Market Segmentation
Market By Type
Docosahexaenoic acid (DHA)
Eicosapentaenoic acid (EPA)
Alpha-linolenic acid (ALA)
Market By Source
Marine Source
Plant Source
Market By Application
Supplements & Functional Foods
Pharmaceuticals
Infant Formulas
Animal Feed & Pet Food
Others
Market By Region
North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions
Gradual increase in number of patients suffering from cardiovascular diseases and rising awareness among consumers related to advantages of consumption of omega-3 fatty acids are major factors expected to drive the growth of global omega-3 market.
The global omega-3 market in 2027 is expected to be above US$ 4.5 Bn.
In source the plant segment is growing at faster pace.
The CAGR of the global omega-3 market from 2020-2027 is above 7.9%.
In the global market the Asia Pacific region is expected to grow faster.
Some of the players considered in the report scope are Aker BioMarine, Axellus, BASF SE, and DSM.
The Asia Pacific is expected to account for major revenue share in the global market.
