Global Omega-3 Polyunsaturated Fatty Acid Market Research and Forecast 2022-2028

Global Omega-3 Polyunsaturated Fatty Acids Market Size, Share & Trends Analysis Report by Type (Docosahexaenoic Acid, Eicosapentaenoic Acid, Alpha-Linolenic Acid), By Source (Marine Source and Plant Source) By Applications (Dietary Supplements, Functional, Foods & Beverages, pharmaceutical, and Others), Forecast Period 2022-2028

The global omega-3 polyunsaturated fatty acids Market is anticipated to grow at a CAGR of 10.3% during the forecast period. The market is mainly due to the significant consumption of omega-3 in dietary supplements and pharmaceutical industries from across the globe. Omega-3 fatty acids cannot be synthesized by the human body and it is an essential element to enhance metabolic activities such as cognitive and cardiovascular functions. As a result, the adoption of omega-3 is rising through raising awareness and easy availability of omega-3 fatty acids in the market. The global rise in lifestyle-oriented diseases such as CVD, CHD, Rheumatic Arthritis, Parkinson’s disease, and another lingering disease are boosting the global omega-3 polyunsaturated fatty acids market.

Moreover, pharmaceutical drug manufacturers are using omega-3 as an ingredient in drugs that are used to treat various lifestyle-oriented diseases. The rise in health consciousness among individuals and a wide variety of omega-3 products are expected to drive the market in the near future. Along with that, the Global omega-3 polyunsaturated fatty acid market is affected by the high cost due to low production of fish oil and huge expenditure in R&D. However, rising alternatives of omega-3 through marine and plant sources are expected to overcome the high cost.

Segmental Outlook

The global omega-3 polyunsaturated fatty acids market is segmented based on type, source, and application. On the basis of type, the market is further classified into Docosahexaenoic Acid, Eicosapentaenoic Acid, Alpha-Linolenic Acid. Based on source the market is further segregated into the marine source and plant source. Based on the application, the market is classified into dietary supplements, functional food & beverages, pharmaceuticals, and others.

Global Omega-3 Polyunsaturated Fatty Acids Market Share, by Application, 2020 (%)

Global Omega-3 Polyunsaturated Fatty Acids Market Share, by Application

The functional food & beverages segment is anticipated to grow in the global Omega-3 Polyunsaturated Fatty Acid Market

Among application, the functional food & beverages segment is projected to grow at a significant CAGR during the forecast period. As there is a rise in population, consumers are demanding more healthy dietary foods as these products give efficient nutrition to the body than the other food products. Fish oil such as salmon and tuna has omega 3 used as dietary supplements. Furthermore, pharmaceutical applications are another sub-segment is that holds the second-highest share as the number of chronic diseases such as heart diseases, stroke, and cancer are increasing and omega-3 support in preventing these diseases by controlling lupus, rheumatoid arthritis and it lowers blood pressure, likely to reduce heart attack and strokes. For instance, according to American college cardiology, the number of mortality rates are increased where the total number of demises was 9.14 million in 2019 due to heart diseases, whereas mortality rates due to stroke in 2019 were 143 million.

Regional Outlooks

The global omega-3 polyunsaturated fatty acid market is further segmented based on geography including North America, Europe, Asia-Pacific, and the Rest of the World. North America is projected to have significant growth in the global omega-3 polyunsaturated fatty acid market. The market is growing due to the significant consumption of omega-3 for health benefits and fitness. North America has the highest consumption of omega-3 through dietary supplements, functional food & beverages industry that further contribute to the growth of the regional market.

Asia-Pacific projected to have a significant share in the global Omega-3 Polyunsaturated Fatty Acids Market

Geographically, Asia-Pacific is projected to have a considerable share in the global omega-3 polyunsaturated fatty acids market. China, India, and other emerging economies are projected to create considerable opportunities due to the huge customer base and raising awareness for dietary supplements and functional food. Improving the healthcare system, rising prevalence of CVD, stroke and heart patients, and investment from private players are projected to provide ample opportunity to the market growth in the near future.

Market Players Outlook

The major key players include BASF SE, Koninklijke DSM N.V, Orkla ASA, TASA OMEGA and others. The market players are considerably contributing to the market growth by adopting various strategies including mergers, and acquisitions, collaborations, and new product launches, to stay competitive in the market. For instance, in June 2018, Xerion and BASF entered into a partnership agreement to expand personalized nutrition in Asia Pacific. With this collaboration, BASF nutrition brand Newtrition will be having exclusive distribution rights to market Polyunsaturated omega 3 index test kits.

The Report Covers

• Market value data analysis of 2020 and forecast to 2027.
  
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global Omega-3 Polyunsaturated Fatty Acidsmarket. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
  
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.Analysis of market-entry and market expansion strategies.
  Competitive strategies by identifying ‘who-stands-where’ in the market