The global omega-3 market is anticipated to grow at a CAGR of 10.1 % and to reach USD 9.3 billion during the forecast period 2021-2027. The global omega-3 market is growing at a significant rate, due to the increase in consumption of omega-3 in the active pharmaceutical ingredient (API) and is one of the major factors driving the demand for the product. It is consumed as a dietary supplement as it reduces the risk of cardiovascular and heart diseases. The rising number of patients with inflammatory bowel diseases, cancer, depression, arthritis, asthma, and eyesight problems are the reasons for the demand for omega-3 products globally.

The industry has witnessed rapid growth for omega-3 supplements as it prevents cardiovascular disease, depression, arthritis, and asthma. Omega-3 fatty acids are essential and cannot be synthesized in the human body, so these can be obtained via diet. This is driving the growth of the market across the globe.

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The COVID-19 pandemic has created many opportunities for manufacturers of health-oriented products, i.e., dietary supplements as it helps in maintaining immunity and fights with the deadly virus. This in turn propels the demand for associated markets, including omega-3 products.

Asia-Pacific is expected to witness a significant share during the forecast period because of the demand for healthy and nutritional products, increasing intake of fish oil in the daily diet, and rising disposable income. Also, investments from major players in developing nations further support the growth of the omega-3 market. China has a large population and there are a lot of patients in China who have chronic diseases. So, the government is taking initiatives to promote healthy food habits which further propels the growth of the omega-3 market.

Key strategies adopted by the manufacturers in the omega-3 market include product quality development, enhancing and innovating their product portfolios, and capacity expansion. Companies are focusing on product differentiation by introducing different forms of products, such as tablets, liquids, and powder. In May 2020, DSM has expanded its nutrition portfolio with ARA and DHA powder which is especially for infant nutrition. This powder contains a minimum of 110 mg DHA and ARA. Furthermore, it is sourced from sustainable vegetarian DHA omega-3 and ARA omega-6 which aid to meet the global sustainable demands. Key players are adopting strategic initiatives, such as mergers and acquisitions and product innovation, in order to deal with competition in the omega-3 market.

Key players in the Omega-3 market are Cargill, Incorporated., BASF SE, Koninklijke DSM N.V., Lonza Group AG, Orkla ASA, Croda International Plc, Omega Protein Corporation, Epax Norway AS, GC Rieber, and Nordic Naturals, Inc.

Source: VynZ Research