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Global Omega-3 Product Market - Growth, Trends, and Forecast (2018 - 2023)

Global Omega-3 Product Market - Growth, Trends, and Forecast (2018 - 2023)

Market Insights

The global omega-3 product market was valued at USD 31.4 billion in 2015. Omega-3 products consist of eicosapentanoic acid (EPA) and docosahexanoic acid (DHA) based products. The omega-3 ingredients market is growing faster than the omega-3 products market.

Growing Functional Food = Omega-3 Product Demand

The global omega-3 product market has been dominantly driven by the strong demand for infant formula products in developing regions such as China. Omega-3 demand is growing at a faster rate in infant food fortification as it provides the essential DHA for infant brain development. In addition, the global dietary supplement market is growing at a faster rate, which has increased the demand for omega-3 supplements. However, the major restraint for the market is the depleting fish population, which is the primary source of omega-3. The other marine sources of omega-3 are krill oil and algae oil. Algae-sourced omega-3 is the fastest growing market due to various factors. Omega-3 obtained from algae is considered more bioavailable and sustainable for production, which is a need of the hour because overfishing is a major problem. Another benefit associated with algae omega-3 is that it is best suited for vegetarians. Moreover, the product quality of algae omega-3 is superior as compared to fish oil because it is free from toxic pollutants, highly pure in terms of form of fatty acid, and its off sensory properties. Another major restraint for the market is the high cost of product due to higher downstream processing cost. However, due to technological advancements, its price is forecasted to reduce, making this market highly competitive.

Infant Formula Consumption Growing at a Faster Rate

The market has been segmented by type, concentration type, application type, and geography. There are commercially two types of essential omega-3 fatty acids - eicosapentanoic acid (EPA) and docosahexanoic acid (DHA). DHA holds the largest share in the market due to its high demand in infant formula products and legal recommendations regarding it. EPA-based products are the fastest growing market, supported by the various health benefits, which have increased its importance in drug formulation. By concentration type, the market is segmented into high concentrated, concentrated, and low concentrated product. Currently, low concentrated and concentrated omega-3 products are capturing the market. Growing awareness among consumers regarding the daily dosage of omega-3 has increased the demand for high concentrated products. By application, the market is segmented into infant formula, dietary supplements, fortified food & beverages, clinical nutrition and medical foods, pharmaceuticals, and animal nutrition. The infant formula market is growing at a CAGR of 8.2% during the forecasted period. Animal nutrition is another major growing segment for the market due to increased health concerns among pet owners.

Regional Analysis

The global omega-3 product market has been segmented by region into North America, Europe, Asia-Pacific, South America, and Africa. Asia-Pacific is the fastest growing region due to the growing fortified food market and increased consumer awareness. Japan and China are the significant market in the Asia-Pacific region. Asia-Pacific holds the major share in the omega-3 products market due to high infant formula consumption, followed by North America with a market share of 32%. South America is another growing market for omega-3 fatty acid driven by the high consumption of fortified products.

Key Developments

January 2018 - DSM and Evonik have established a joint venture for omega-3 fatty acids from natural marine algae for animal nutrition.
June 2017 - FMC Corporation has signed a definitive agreement to sell its Epax Omega-3 business to Pelagia AS.


Reasons to Purchase this Report

Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
Market dynamics which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
Market segmentation analysis, including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet in excel

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1. Introduction
1.1 Key Deliverables of the study
1.2 Study Assumptions
1.3 Market Definitions
2. Research Approach and Methodology
2.1 Introduction
2.2 Research Design
2.3 Study timelines
2.4 Study Phases
2.4.1 Secondary Research
2.4.2 Discussion Guide
2.4.3 Market Engineering & Econometric Modelling
2.4.4 Expert Validation
3. Market Overview
3.1 Market Dynamics
3.1.1 Drivers Increased demand of infant forrmula products in developing region such as China Growing demand of sustainable source of Omega 3 fatty acid suitable for vegeterian label Increasing Demand for Omega-3 in Functional Foods & Pharmaceuticals
3.1.2 Restraints Depleting fish oil concentration globally Higher downstream processing cost
3.1.3 Opportunities Growing demand of algae EPA in drug application
3.1.4 Porter's Five Forces Analysis Bargaining Power of Suppliers Bargaining Power of Buyers Threat of New Entrants Threat of Substitute Products and Services Degree of Competition
4. Market Segmentation
4.1 By Type
4.1.1 Eicosapentanoic acid (EPA)
4.1.2 Docosahexanoic acid (DHA)
4.2 By Concentration Type
4.2.1 High Concentrated
4.2.2 Concentrated
4.2.3 Low Concentrated
4.3 By Application
4.3.1 Infant Formula
4.3.2 Fortified food & Beverages
4.3.3 Clinical nutrition and medical foods
4.3.4 Dietary Supplement
4.3.5 Pharmaceuticals
4.3.6 Animal Nutrition
4.4 By Geography
4.4.1 North America United States Canada Mexico Others
4.4.2 Europe Spain UK France Germany Russia Italy Others
4.4.3 Asia Pacific China India Japan Australia Others
4.4.4 South America Brazil Argentina Others
4.4.5 Africa South Africa Others
5. Competitive Landscape
5.1 Strategy adopted by Key players
5.2 Most active companies in the past five years
5.3 Market Share Analysis
6. Company Profiles
6.3 Cargill, Incorporated (U.S.)
6.7 ADM
6.10 Algisys
6.11 FMC Corporation (U.S.)
6.12 TerraVia (Solazyme)
6.13 Croda International PLC (U.K.)
6.14 Nature's Way (Ascenta Health)
7. Appendix
7.1 Disclaimer
7.2 Sources

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