The omega-3 market is estimated to be valued at USD 4.1 billion in 2019 and is projected to reach USD 8.5 billion by 2025, recording a CAGR of 13.1%. The factors contributing to the growth of the omega-3 market include an increase in application profiling and a rise in the existing application in new markets and innovative production technologies. The adaptation of innovative production technologies, such as non-thermal processing, is projected to drive the growth of the omega-3 market due to its cost-effective benefits in these technologies.
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The infant formula application segment is projected to witness the fastest growth, in terms of value, during the forecast period
Omega-3 fatty acids play a very crucial role in the growth and development of the infant brain and retina. If a lack of omega-3 is encountered in breast milk, then it is advisable to feed them supplements with DHA dominant omega-3 fish oil. Many women these days suffer from omega-3 deficiencies due to which an adequate amount of EPA and DHA, which is required for infant brain development, is not passed on to the infants through breast milk. Thus, external sources of omega-3 fatty acids are gaining traction in the global markets.
The marine source segment is projected to account for a larger share in the omega-3 market during the forecast period
The major source of omega-3 fatty acids EPA and DHA are oily fishes, such as salmon. Omega-3 acids that are found in the marine environment improve the health of consumers significantly. There is also a flourishing aquaculture industry in the US and Canada for salmon breeding, which makes them potential sources for extraction of omega-3 fatty acids. The acids extracted from marine sources further observe high demand from sectors such as pharmaceuticals and food industries, which is driving their market demand.
The docosahexaenoic acid type segment is projected to account for faster growth in the omega-3 market during the forecast period
The consumption of DHA should be direct to have an increased level of fatty acids in the body. It is vital to have an optimal intake of DHA for the growth and development of an infant brain and also for the normal functioning of adult brains.DHA incorporates 97% of the omega-3 fatty acids in our brain and 93% in a specific part of the eye (retina). DHA is a very important component for visual and neurological development in infants. Due to its medicinal significance for the growth of human brain development, the demand for omega-3 fatty acids with rich DHA content is rising.
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The Asia Pacific region is projected to witness the fastest growth during the forecast period
The increasing demand for omega-3 in dietary supplements, functional food & beverages, and infant formula applications has created lucrative growth opportunities for manufacturers in the omega-3 market in the Asia Pacific region. The dietary supplements, functional food & beverages, and infant formula segments in the omega-3 market are projected to grow at a faster pace due to the increasing demand from consumers. Key markets in the Asia Pacific region include China, India, Japan, Australia, and New Zealand. Omega Quant (US) is an autonomous organization that offers omega-3 and fatty acid testing solutions. It expanded in the Asia Pacific region in 2018 to conduct surveys based on the omega-3 index in various countries of the region. Major companies such as BASF (Germany), Croda International (UK), and Cargill (US) are increasingly inclined toward catering to the demands of consumers in the Asia Pacific region and investing in developing innovative products that align with their demands. These factors are driving the growth of omega0 fatty acids in the regional markets.
