Yahoo Finance Global Omega 3 Market Likely to Reach US$13 Bn by 2027 End, Forecasts Fairfield Market Research
According to Fairfield Market Research, global omega 3 market was valued at around US$4.4 Bn in 2019 and will possibly reach around US$13 Bn by 2027.
London, Sept. 27, 2022 (GLOBE NEWSWIRE) -- Rapid expanse of fortified foods space, and greater emphasis on mother and new-born nutrition provide a collective impetus to omega 3 fatty acids that serve to elevate the overall physical performance. With an increasing number of consumers worldwide showcase inclination toward health foods, demand for products fortified with omega 3 will continue to see an uptrend. The latest published report of Fairfield Market Research on global omega 3 market suggests that the market recorded revenue of around US$4.4 Bn in 2019 and will possibly reach nearly US$13 Bn toward the end of 2027. During the considered period of projection, 2021 – 2027, omega 3 market expects a highly impressive CAGR of 14.6%. A growing market for nutraceuticals is expected to remain among the key growth influencers, says the report.
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Extending Application Base, and Increasing Research on Alternative Omega 3 Sources Uplift Growth Prospects of Omega 3 Market
Besides dietary supplements, omega 3 has also made a comeback in pet nutrition products on the back of its superior therapeutic potential that boosts the immunity of pets and prevents the possibility of degenerative illnesses such as like arthritis, and inflammatory bowel disease in them. Adoption has also been rising for feeding fish, and farm animals with an intent to improve the egg, meat, and milk quality. Pet supplements is also expanding as a lucrative category for omega 3 manufacturers, which according to the report elevates the growth prospects of omega 3 market. However, despite a lot of research afoot around the same, by both government and non-government organisations, the confusion regarding the precise amount omega 3 to be consumed daily, persists.
Non-standard Daily Dosage Remains a Challenge Facing Omega 3 Market
The report also highlights a few key challenges that continue to face omega 3 market in terms of growth in the long run. Lack of standardisation about the routine recommended intake of omega 3 has been a challenge facing global omega 3 market and the same will continue throughout the period of projection. Poor knowledge and awareness regarding the same are also expected to act as a significant barrier to the growth of omega 3 market. The typical daily omega 3 intake is widely recorded in form of dietary supplements, as well as fortified F&B products. As omega 3 has been one of the most widely consumed nutritional supplement by those suffering from a range of autoimmune diseases, and the various conditions related to heart, and brain functioning. Intake of non-standard dosages may thus lead to inappropriate dosage that may lead to a negligible or no positive effects on health. The awareness levels are far lower across developing economies, which is expected to remain the key limiting factor for omega 3 market. Moreover, lack of a robust primary healthcare infrastructure will continue to be a major challenge to market growth across underdeveloped regions.
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North America’s Primacy Prevails, Asia Pacific Turns Lucrative in Omega 3 Market
North America remains the dominant region in global omega 3 market on account of the most frequent new launches, and the proliferating market of nutraceuticals. The US is particularly witnessing rapid growth in demand for healthy dietary products as a sizeable consumer population is seeking an effective counter to the most prevalent lifestyle health conditions like obesity, and inflammatory bowel disease (IBD). Increasing health concerns and subsequently growing consumer awareness regarding the availability and accessibility of health food will drive omega 3 market ahead in the US, in turn across North America. On the other side, Asia Pacific represents a high-potential market for omega 3 and related product manufacturers. The region is likely to showcase an attractive CAGR during the period of forecast according to the report.
Key Players - Global Omega 3 Market
The report includes a dedicated section to cover the competition landscape of global omega 3 market, which intends to reveal some exclusive insights into the strategic developments of the industry leaders. A few of the leaders in omega 3 market space include Cargill Inc, BASF Corporation, DSM, Corbion, Lonza, Ingredion Incorporated, Friesland Campina, Archer-Daniels-Midland Company, Olam International Ltd., and Kerry PLC.
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Application Coverage |
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Report Highlights | Market Estimates and Forecast, Market Dynamics, Industry Trends, Competition Landscape, Product-, Application-, Region-, Country-wise Trends & Analysis, COVID-19 Impact Analysis, Key Trends |
Table of Contents:
1. Executive Summary
1.1. Global Omega 3 Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Analyst Recommendations
2. Market Overview
2.1. Market Definitions
2.2. Market Taxonomy
2.3. Market Dynamics
2.3.1. Drivers
2.3.2. Restraints
2.4. Value Chain Analysis
2.5. Porter’s Five Forces Analysis
2.6. COVID-19 Impact Analysis
2.7. Key Patents
3. Global Omega 3 Market Outlook, 2019 - 2027
3.1. Global Omega 3 Market Outlook, by Type, Value (US$ ‘000), 2019 - 2027
3.1.1. Key Highlights
3.1.1.1. Docosahexaenoic acid (DHA)
3.1.1.2. Eicosapentaenoic acid (EPA)
3.1.1.3. Alpha-linolenic acid (ALA)
3.1.2. BPS Analysis/Market Attractiveness Analysis
3.2. Global Omega 3 Market Outlook, by Sources, Value (US$ ‘000), 2019 - 2027
3.2.1. Key Highlights
3.2.1.1. Marine source
3.2.1.2. Plant source
3.2.2. BPS Analysis/Market Attractiveness Analysis
3.3. Global Omega 3 Market Outlook, by Application, Value (US$ ‘000), 2019 - 2027
3.3.1. Key Highlights
3.3.1.1. Dietary supplements
3.3.1.2. Functional food & beverages
3.3.1.3. Pharmaceuticals
3.3.1.4. Infant formula
3.3.1.5. Pet food & feed
3.3.2. BPS Analysis/Market Attractiveness Analysis
3.4. Global Omega 3 Market Outlook, by Region, Value (US$ ‘000), 2019 - 2027
3.4.1. Key Highlights
3.4.1.1. North America
3.4.1.2. Europe
3.4.1.3. Asia Pacific
3.4.1.4. Latin America
3.4.1.5. Middle East & Africa
3.4.2. BPS Analysis/Market Attractiveness Analysis
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