Global omega 3 market that surpassed the valuation of US$4.4 Bn in the year 2019 is likely to reach the revenue of around US$13 Bn toward the end of 2027. In its latest published report, Fairfield Market Research forecasts a robust 14.6% CAGR for omega 3 market over the period of projection, 2021 – 2027. The growth of fortified foods across international markets and increasing worldwide focus on mother-and-new-born nutrition products will uphold the growth of global omega 3 market. Rapid expansion of health food sector will keep demand for omega 3 afloat. An expanding nutraceuticals market will also remain a significant driving force for the market, suggests the report.
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Omega 3 Market Continues to Benefit from Growing Application, and Emerging Alternative Omega 3 Sources
While dietary supplements remain the key revenue generating category for omega 3 manufacturers, it has also been finding application in pet nutrition products. Excellent therapeutic potential of omega 3 is touted to foster the immunity in pets and reduces the possibility of them acquiring degenerative illnesses like arthritis, and inflammatory bowel disease. Increasing adoption of omega 3 for feeding fish, and farm animals for improves egg, meat, and milk quality. The pet supplements will thus emerge as a highly lucrative segment in the next few years, says the report. However, in spite of a lot of research regarding extending the application potential of omega 3, there has been the confusion regarding a precise omega 3 dosage to be consumed daily. The non-standardised daily dosage will continue to be a challenge facing omega 3 market. Although omega 3 has been among the most widely consumed nutrients in form of supplements, the lack of standardisation about the routine recommended intake will prevail as a challenge.
North America Continues to Stand Tall in Global Omega 3 Market
While growing frequency of new product launches continues to account for the top positioning of North America in global omega 3 market, the thriving nutraceuticals space also plays a crucial role. Demand for healthy dietary products in the US is expected to proliferate as a growing number of consumers consider them effective against some of the most prevalent lifestyle health conditions like obesity, and inflammatory bowel disease (IBD). This is likely to fuel the growth of omega 3 market during the projection period. Increasing consumer awareness about growing accessibility, and availability of health food category further works to the advantage of the North American market according to the report. Asia Pacific on the other hand reflects higher growth potential for manufacturers of omega 3 and related products. The report foresees an attractive CAGR for omega 3 market of Asia pacific through 2027.
Global Omega 3 Market – Key Players
BASF Corporation, Cargill Inc, DSM, Lonza, Corbion, Ingredion Incorporated, Archer-Daniels-Midland Company, Friesland Campina, Kerry PLC., and Olam International Ltd. constitute some of the prominent players steering the competition landscape of global omega 3 market. The competition analysis section of the report intends to reveal some exclusive strategic insights into the key market players.
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