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Chicago, May 31, 2024 (GLOBE NEWSWIRE) — The omega-3 market size is expected to reach USD 7.4 billion in 2029 from USD 3.9 billion in 2024, at a CAGR of 13.5% during the forecast period. The major factors driving the growth of this market include the rising awareness of health benefits, increasing use of omega-3 fatty acids in food and feed products, and the growing adoption of innovative production technologies.
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EPA’s Therapeutic Potential and Market Expansion
Eicosapentaenoic Acid (EPA) stands out as a key player in the Omega-3 market, with its efficacy supported by numerous clinical trials and research studies. Its proven effectiveness in addressing cardiovascular disease, inflammation, and mood disorders like depression is bolstering consumer confidence and driving market growth. EPA’s broad spectrum of therapeutic applications, including cardiovascular and inflammatory conditions, as well as its potential neuroprotective properties, contribute to its increasing demand.
Omega-3 Market Growth Factors
- Rising awareness of health benefits: Consumers are increasingly aware of the importance of omega-3s for heart and brain health, as well as their potential role in reducing inflammation and improving cognitive function. This is leading to a greater demand for omega-3 supplements and functional foods fortified with omega-3s.
- Preventive healthcare focus: There’s a growing shift towards preventive healthcare, and omega-3s are seen as a natural way to support overall health and well-being. This trend is likely to continue to drive demand for omega-3 products.
- Functional food and pharma applications: Omega-3s are finding increasing use in functional foods and beverages, as well as in pharmaceutical applications for treating various conditions. This diversification in product offerings is creating new growth opportunities for the market.
- Demand in developing economies: Rising disposable income and increasing awareness of health benefits in developing economies like those in the Asia-Pacific region are creating a significant market for omega-3 products.
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Marine-Derived Omega-3 Supplements: Preferred Choice for Consumers
The dominance of the marine segment in the Omega-3 market is attributed to the natural abundance of Omega-3 fatty acids in marine sources such as fish oil, krill oil, and algae. These sources offer high bioavailability, ensuring efficient absorption and utilization by the body. Additionally, the longstanding presence of marine-derived Omega-3 supplements, particularly fish oil supplements, has cultivated strong consumer trust, making them the preferred option for individuals seeking Omega-3 supplementation.
Omega-3 Market Share
- BASF SE (Germany)
- Cargill, Incorporated. (US)
- ADM (US)
- Kerry Group Plc (Ireland)
- Croda International Plc (UK)
- Orkla. (Norway)
- Corbion (Netherlands)
- GC Rieber (Norway)
- Pelagia AS (Norway)
- KD Pharma Group SA (Switzerland)
- Cooke Aquaculture Inc. (Canada)
- AlgiSys Biosciences, Inc. (US)
- Golden Omega (Chile)
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