Omega 3 Market to Exceed $4.5 Billion by 2030: Research Study by Reports and Data
The global omega 3 market size is expected to reach USD 4.5 billion by 2030 and register a revenue CAGR of 7.7% during the forecast period.
NEW YORK CITY, NEW YORK, USA, Sept. 15, 2022 /EINPresswire.com/ — Market Synopsis
The global omega 3 market size is expected to reach USD 4.5 billion by 2030 and register a revenue CAGR of 7.7% during the forecast period. Omega 3 market revenue growth is expected to be driven by factors such as growing demand for omega 3 supplements to support consumer brain and heart health, growing number of product applications in industry pharmaceutical for the manufacture of various drugs, the increasing number of cases of heart disease. related diseases and obesity globally, and increasing investment by major market players in research activities for the development of various innovative and more improved omega 3 products.
Consumption of omega 3 fatty acids in regular diets may reduce the risk of cardiac arrest, asthma, cancer and atopic disease, among other chronic diseases. It also delivers nutrients and proteins to the hair follicle to prevent follicle inflammation and trigger hair growth by ensuring circulation to the scalp. Omega-3s help moisturize the skin and fight against various skin problems, such as itching and redness, caused by psoriasis and dermatitis.
The American Heart Association (AHA) has recommended that people eat fish high in unsaturated fats, which are omega 3 fatty acids, at least twice a week. Omega-3s contain fatty acids, such as alpha-linolenic acid (ALA), eicosapentaenoic acid (EPA), and docosahexaenoic acid (DHA) that are beneficial for cardiovascular health. ALA is found primarily in plant-based foods such as olive, soy, canola, walnut, and flaxseed oils. Additionally, people with dry skin, poor circulation, poor memory, heart problems, and fatigue may be deficient in omega-3s and should include omega-3s and other essential fatty acids in their diet to overcome these symptoms. Omega-3 fatty acid contains DHA and arachidonic acid (ARA), which are found naturally in breast milk, so it is recommended that they be added to infant formula. Infants fed formula fortified with DHA have better hand-eye coordination, social skills, attention span and intelligence test scores in studies. These fatty acids are safe and help develop a child’s neurological and visual systems.
The impact of COVID-19:
The COVID-19 pandemic has created endless disruptions in manufacturing or production industries due to shortage of resources in different parts of the world. Major industry players are skeptical about the future of the market and are trying to rethink their strategies to meet the challenge. The pandemic has had a severe impact on retail chains due to regular closures. Manufacturing industries have been disrupted due to the reduction in available human resources. Companies are integrating different techniques to increase production volume and are trying to develop innovative solutions at an affordable price, which can meet customer requirements at a much lower cost.
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Other key findings from the report suggest
• Due to the unavailability of certain seafood or fish, an omega 3 deficiency has been observed in children. Even many adults suffer from malnutrition and are diagnosed with many chronic diseases. A huge demand for omega 3 supplements has been estimated to get rid of these complexities and diseases.
• Overall sales of children’s dietary supplements are expected to increase over the forecast period. Both Chinese and Indian parents were observed to be willing to spend relatively large sums on their children’s health compared to family income.
• A new trend emerging in the dietary supplement market is the need to use organic or sustainable ingredients. This trend is driven by two fundamental changes in this industry: the need to consume “healthier” ingredients and growing consumer concerns about sourcing “sustainable” products.
• In March 2020, Wiley Companies, a maker of omega-3 fish oil, unveiled their formulations of a new omega-3 concentrate in powder form. This was the company’s first launch in terms of powder formulation.
• In December 2019, Nordic Investment Bank and Norwegian producer of pelagic fish products, Pelagia Holding AS, refinanced the acquisition of Epax Norway AS, a renowned producer of omega 3 fatty acids.
• Major participants include BASF, Orkla Health, KD Pharma, Lonza, Corbion, Nordic Naturals, Croda International, Epax, Runke Bioengineering and Pharma Marine, among others.
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For the purposes of this report, the reports and data have been segmented globally based on type, source, end-use sectors and region:
Type Outlook (Revenue, USD Billion; 2019-2030)
• Docosahexaenoic acid (DHA)
• Eicosapentaenoic acid (EPA)
• Alpha-linolenic acid (ALA)
Source Outlook (Revenue, USD billion; 2019-2030)
• Vegetable oils
• Nuts and seeds
• Soy and soy products
End-Use Outlook (Revenue, USD Billion; 2019-2030)
• Nutraceuticals and supplements
• Food and drinks
• Pharmaceutical products
• Personal care
• Infant formula
• Fish food
Regional Outlook (Revenue, USD Billion; 2019-2030)
• North America
o United States
o United Kingdom
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of APAC
• Latin America
o Rest of LATAM
• Middle East and Africa
o Saudi Arabia
o South Africa
o Rest of MEA
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