Omega-3 Ingredients Market Anticipated to Grow at a CAGR of 10.8% by 2033, Driven by Rising Health Awareness and Nutritional Benefits

Metal-air Battery Market

Omega-3 ingredients are highly sought after because of how well-liked they are with consumers. Omega-3 ingredient sales totalled US$ 7.4 billion in US dollars in 2023, increasing at a CAGR of 10.8% over the forecast period. By 2033, the market for omega-3 ingredients is anticipated to bring in US$ 20.6 billion.

The Food Marketing Institute reports that 44% of individuals either never eat fish or any other type of seafood or only seldom do so, leaving their diets deficient in omega-3 compaonents. This presents a fantastic potential for producers of omega-3 components to meet nutritional needs.

It is possible to extract omega-3 components from a variety of sources, including plant (chia seed oil, sunflower oil, flax seed oil, hemp, soybean oil, canola oil, primrose oil, and camelina oil) and animal (algae, fungus, fish, and krill oils). To obtain a competitive edge, manufacturers are heavily investing in the discovery of new sources of omega-3 components.

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Key Takeaways from the Omega-3 Ingredients Market Study

  • Omega-3 ingredients market is expected to register nearly 10.9% CAGR between 2021 and 2031
  • The U.S. will emerge as an attractive market, accounting for 78% of sales in North America
  • The EU5 has been exhibiting exceptional growth opportunities. FMI forecasts it to register nearly 10% Y-o-Y growth in 2021
  • Benelux and Nordic markets also will exhibit impressive growth within Europe market
  • China and India will continue exhibiting high demand for omega-3 ingredients

“Manufacturers are focusing on improving production processes to meet high quality standards. Continuous research & development initiatives undertaken by market players are aimed at discovering alternate sources of omega-3 ingredients,” said a lead analyst at FMI.

Rising Vegan Population Fuelling Demand for Plant-Based Omega-3 Ingredients

A vegan diet does not include two essential omega-3 ingredients in their diet i.e., EPA and DHA as these are primarily derived from animal sources such as fish. As the vegan population is growing rapidly owing to increasing awareness, manufacturers are focusing on the production of omega-3 ingredients from the plant as the source. Manufacturers are striving to discover more such plant sources for omega-3 ingredients for supporting this growing segment of the population.

Rising Focus on Health Fuelling Demand for Omega-3 Ingredients

The increasing concern about health and wellness among the consumers has been fuelling the demand for nutraceutical and dietary supplements. Frequent product launches with multiple health benefits of omega-3 ingredients are among key market trends.

Europe currently holds around 37.0% of the global market. The rising incidence of various chronic ailments has been fuelling the demand in the U.S. Besides this increasing awareness about the health benefits of omega-3 ingredients has been spurring growth in Asia Pacific and the Middle East and Africa.

Who is winning?

A few of the leading players operating in the omega-3 ingredients market are Croda International Plc, Omega Protein Corporation, Koninklijke DSM N.V., Cargill Inc., Epax Norway AS, GC Rieber Oils AS, Pharma Marine AS, Copeinca ASA, Arista Industries Inc., Polaris Nutritional Lipids, Clover Corp. Ltd., Marine Ingredients LLC, Barleans Organic Oils L.L.C., Algaecytes Limited, Qualitas Health, Cellana, Inc., Qponics Limited, BioProcess Algae, LLC, Luhua Biomarine (Shandong) Co., Ltd, Denomega Nutritional Oils, and other players.

Manufacturers of omega-3 ingredients are also strengthening their technology portfolio to improve quality of their products.

  • For instance, Omega Protein Corporation in 2017 has partnered with the Science Center for Marine Fisheries (SCeMFis), a cooperative research center for the production of omega-3 ingredients. Sensing the rising demand for omega-3 ingredients manufacturers are also increasing production quantity.
  • In January 2019, Cargill launches omega-3 ingredients for fish feed as they spot greater potential for farmed fish. Cargill is further developing supply chain for effective distribution of these omega-3 ingredients
  • In January 2019, Croda International Plc acquired Brenntag Biosector to strengthen its pharmaceutical offerings.

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Get Valuable Insights into Omega-3 Ingredients Market

Ingredients

  • Alphalinolenic Acid
  • Eicosapentaenoic Acid
  • Docosahexaneoic Acid

Source

  • Animals
    • Fish Oil
    • Algal Oil
    • Others
  • Plants
    • Chia Seed Oil
    • Flax Seed Oil
    • Soybean Oil
    • Canola Oil
    • Walnut Oil
    • Mustard Oil
    • Others

Application

  • Food Industry
    • Dairy Desserts
    • Bakery & Confectionery
    • Savory Snacks
    • Breakfast Cereals
    • Others
  • Beverage Industry
    • Functional Drinks
    • Juices
    • Others
  • Dietary Supplements
  • Infant Formulas
  • Pharmaceutical & Nutraceutical Industry
  • Animal Feed

Region

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Oceania
  • Japan
  • Middle East and Africa (MEA)

Summary

Omega-3 ingredients such as eicosapentaenoic acid (EPA), docosahexaenoic acid (DHA), and alpha-linolenic acid (ALA) are long-chain fatty acids that are essential for maintaining good health. Eicosapentaenoic acid (EPA), docosahexaenoic acid (DHA) are precursors for a group of eicosanoids such as thromboxanes, prostaglandins, and leukotrienes which plays an essential role in anti-inflammation, antithrombotic, antiarrhythmic, and vasodilation. According to the inclination of consumers, omega-3 ingredients can be extracted from animal-based as well as plant-based sources.

Frequently Asked Questions

  • Which is the most lucrative market for Omega-3 Ingredients?
  • Which is the top-selling product type of Omega-3 Ingredients?
  • Which is the key application of omega-3 ingredients?
  • Which are some of the leading companies offering Omega-3 Ingredients?

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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