(Entertainment-NewsWire.com, May 22, 2024 ) 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.
BASF SE (Germany), Cargill, Incorporated. (US), dsm-firmenich (Netherlands), 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), AKER BIOMARINE (Norway), and Polaris (France).
A growing inclination towards proactive health management practices is fueling the demand for Omega-3 dietary supplements. Consumers are recognizing the potential health benefits associated with Omega-3, leading to increased consumption of supplements aimed at supporting heart health, cognitive function, and joint health. Regulatory endorsements of Omega-3 health claims further strengthen consumer trust, driving the integration of these supplements into daily routines.
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.
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.
The Asia Pacific region is poised for rapid growth in the Omega-3 market, driven by regulatory endorsements of health claims associated with Omega-3 fatty acids. Increasing awareness of chronic health conditions coupled with lifestyle changes like rapid urbanization and sedentary habits is prompting consumers in the region to seek out Omega-3 supplements to support their overall health and wellness.
About MarketsandMarkets™
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
