Omega 3 Market: Current Analysis and Forecast (2021-2027)

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Emphasis on Type (Eicosatetraenoic acid, Docosahexaenoic acid, Alpha-linolenic acid); Source (Marine, Plant); Application (Supplements & Functional Foods, Infant Formula, Pharmaceuticals, Animal Feed &Pet Food, Others); Region/Country

Published:

Dec-2021

Pages:

231

Table:

41

Figure:

121

Report ID:

UMCG21559

Geography:

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Report Description
Table of content
Research Methodology

Report Description


The Global Omega 3
is Expected to Display an Elevated CAGR of ~10% over the Forecast Period (2021-2027)

The demand for omega 3 across the globe is rising on account of several benefits such as helpS in lowering the body mass index, blood pressure, HbA1C, and cholesterol levels. Also, it helps in reducing the number of medications needed to treat chronic diseases and lower ischemic heart disease mortality rates. Chronic diseases, such as type 2 diabetes, obesity, stroke, heart disease, and cancer have significant health and economic costs. Currently, 60% of Americans have at least one chronic condition, and 40% have multiple chronic conditions. As per WHO, one person dies every 36 seconds in the United States from cardiovascular disease. About 659,000 people in the United States die from heart disease each year, that’s 1 in every 4 deaths.

Moreover, the growing traction towards veganism is also leading to the growth of plant-based omega 3 sources as plant sources such as flaxseed, soybean, and canola oils, chia seeds, and black walnuts. etc., As per the PlantProteins.co report, 6% of U.S. consumers eat a vegan diet, up from just 1% in 2014. This diet is higher in fiber and lower in cholesterol and fat than an omnivorous diet, and it scores higher on the Healthy Eating Index Trusted Source

Amount of omega-3 fatty acids in several seafood species (Mg in 100 gram)

BASF SE, Aker Biomarine Antarctic AS, Orkla Health, Omega Protein Corp., GC Reiber Oils, Lonza, Croda International Plc, EPAX, BioProcess Algae, LLC, Koninklijke DSM N.V., etc. are some of the prominent players operating in the Omega 3 market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products.

Insights Presented in the Report

“Amongst Type, Eicosatetraenoic acid (EPA) segment holds the major share”

Based on the type, the market is fragmented into EPA, DHA, ALA. Docosahexaenoic Acid segment grabbed the major market share and dominated the market. Moreover, the market of this segment would witness the highest CAGR during the forthcoming years owing to the growing demand for reducing bad cholesterol and improving health conditions. However, the EPA segment would grab a considerable CAGR during the forthcoming years as well

“Amongst Source, Marine segment holds the major share”

Based on the source, the market is fragmented into marine and plants. The marine segment grabbed the major market share and dominated the market. The segment captured XX% market share in 2020. The segment is witnessing an uptick owing to the growing consumption of fish oil as fish oil is the major marine source, which is mainly derived from anchovy fish.

“Amongst Application, Supplements & Functional Foods segment holds the major share”

Based on the application, the market is fragmented into Supplements & Functional Foods, Infant Formula, Pharmaceuticals, Animal Feed & Pet Food, and Others. Supplements & Functional Food grabbed the major market share and dominated the market in 2020. However, the infant formula would be emerging as the leading segment in the forecast period.

“North America represents one of the largest markets of Omega 3 market”

For a better understanding of the market dynamics of the Omega 3 market, a detailed analysis was conducted for different regions across the globe including North America, Europe, Asia Pacific, and the Rest of the world. North America dominated the market and generated the leading revenue share in 2020 owing to the availability of Omega 3 in abundance and new launches are some of the factors that are contributing to the growth of the market.

Reasons to buy this report:

  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts
  • The report presents a quick review of overall industry performance at one glance
  • The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
  • The study comprehensively covers the market across different segments
  • Deep dive regional level analysis of the industry

Customization Options:

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1.1.Market Definitions
1.2.Limitation
1.3.Stake Holders
1.4.Currency used in Report
2.1.Research Process of the Omega 3 Market
2.2.Research Methodology of the Omega 3 Market
2.3.Forecasting Method
2.4.Respondent Profile
2.5.Main Objective of the Omega 3 Market Study
3MARKET SYNOPSIS
4EXECUTIVE SUMMARY

 

5GLOBAL OMEGA 3 MARKET COVID-19 IMPACT
6GLOBAL OMEGA 3 MARKET REVENUE, 2019-2027F
7.1.Eicosatetraenoic acid (EPA)
7.2.Docosahexaenoic acid (DHA)
7.3.Alpha-linolenic acid (ALA)
9.1.Supplements & Functional Foods
9.2. Infant Formula
9.3.Pharmaceuticals
9.4.Animal Feed and Pet Food
9.5.Others
10.1.North America Omega 3 Market 
 10.1.1.United States
 10.1.2.Canada
 10.1.3.Rest of North America
10.2.Europe Omega 3 Market 
 10.2.1.United Kingdom
 10.2.2.Germany
 10.2.3.France
 10.2.4.Italy
 10.2.5.Spain
 10.2.6.Rest of Europe
10.3.Asia Pacific Omega 3 Market
 10.3.1.China
 10.3.2.Japan 
 10.3.3.India
 10.3.4.Australia
 10.3.5.South Korea
 10.3.6.Rest of Asia Pacific
10.4.Rest of World Omega 3 Market 
11.1.Market Drivers
11.2.Market Challenges
11.3.Impact Analysis
12OMEGA 3 MARKET OPPORTUNITIES
13OMEGA 3 MARKET TRENDS
14LEGAL & REGULATORY FRAMEWORK
15.1.Demand Side Analysis
15.2.Supply Side Analysis
 15.2.1.Top Product Launches
 15.2.2.Top Business Partnerships
 15.2.3.Top Business Expansions, Investments and Divestitures
 15.2.4.Top Merger and Acquisitions
16VALUE CHAIN ANALYSIS
17.1.Competitive Landscape
 17.1.1.Company Shares, By Revenue
18.1.BASF SE
18.2.Aker Biomarine Antarctic AS
18.3.Orkla Health
18.4.Omega Protein Corp.
18.5.GC Reiber Oils
18.6.Lonza
18.7.Croda International Plc
18.8.EPAX
18.9.BioProcess Algae, LLC
18.10.Koninklijke DSM N.V
19DISCLAIMER

Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the Omega 3 Market were the three major steps undertaken to create and analyze the demand for Omega 3  across major regions. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Omega 3 market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/ bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detailed secondary study was conducted to obtain the historical market size of the Omega 3 through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Omega 3 market, we conducted a detailed secondary analysis to gather historical market insights and share for source, application, and form for major regions. Major segments included in the report are form ad applications. Further region and country-level analyses were conducted to evaluate the overall adoption of Omega 3 across the globe.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Omega 3. Further, we conducted factor analysis using dependent and independent variables such as the prevalence of CVDs, rise in disposable income, etc., A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the Omega 3 industry across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Omega 3 market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weightage was assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e. bottom-up/ top-down approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of value (US$) and the adoption rate of Omega 3 across the major markets domestically
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in the Omega 3 market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Omega 3 market. Data was split into several segments sub-segments post studying various parameters and trends in the areas of type, source, and application of the Omega 3 market.

Main Objective of the Omega 3 Market Study

The current & future market trends of Omega 3 were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

  • Analyze the current and forecast market size of Omega 3 in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
  • Segments in the study include areas of type, source, and application
  • Define and analysis of the regulatory framework for the Omega 3 industry
  • Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
  • Analyze the current and forecast market size of the Omega 3 market for the major countries
  • The major region studied in the report includes North America, Europe, Asia- Pacific, and the Rest of the World.
  • Company profiles of the Omega 3 market and the growth strategies adopted by the market players to sustain in the fast-growing market

Deep dive regional level analysis of the industry