Global Omega-3 Product Market Size is Estimated to Reach USD 86.07 billion by 2031, Growing at a CAGR of 7.7%: Straits Research
The market for omega-3 components is anticipated to grow significantly throughout the period forecasted due to their widespread use in newborn feeding, dietary supplements, and other food industries.
New York, United States, Dec. 21, 2023 (GLOBE NEWSWIRE) — Omega-3 fatty acids are nutrients that can be obtained from food or supplements and contribute to the growth and maintenance of a healthy body. They are necessary components of every human cell wall. In addition to being a source of energy, they support the immune system, heart, lungs, and blood vessels. Omega-3 fatty acids cannot be produced by the body on their own. Since they are essential fat, they are necessary for survival. Omega-3 fatty acids are best found in fish as a food source. Omega-3 fatty acids are also present in several plant species. Researchers have discovered that depression rates are lower in societies where omega-3-rich foods are consumed. Fish oil supplements have a mixed track record for treating depression. To determine whether it can have an effect, additional research is necessary.
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Benefits Associated and Technological Advancements to Drive the Global Omega-3 Product Market
According to Straits Research, “The global omega-3 product market size had a revenue worth USD 44.14 billion in 2022. It is expected to reach USD 86.07 billion by 2031, growing at a CAGR of 7.7% during the forecast period (2023-2031).” For healthy growth and development, the human diet must contain adequate amounts of omega-3 fatty acids, especially EPA and DHA. They support immune health, joint health, eye health, cognitive function, pregnancy, and child development and relieve joint pain and inflammation. Recent years have seen an increase in cardiovascular disease deaths worldwide. The United Nations Population Fund (India) estimates that by the year 2050, 19.1 million senior adults in India will have heart disease. In countries like India and China, where the prevalence of heart disease is increasing, there is a demand for heart health products, which benefits the market for omega-3 products.
Low levels of PUFAs in the bloodstream are associated with an increased risk of various chronic diseases, including heart disease, cancer, autoimmune disease, depression, and diabetes. In addition, omega-3 fatty acids protect against dry eye syndrome and age-related macular degeneration in adults. Preterm infants require DHA because most of a child’s brain development occurs during pregnancy and the first two years of life. EPA and DHA, also known as omega-3 long-chain polyunsaturated fatty acids (LCPUFAs), are essential for human growth, development, and overall health. The expansion of the omega-3 market is a result of these health benefits.
Constant technological advancements that improve the delivery and absorption of omega-3 substances are another significant factor driving the expansion of the omega-3 product market. Major market companies are investing heavily in research and development to incorporate technology to increase the body’s absorption of omega-3 fatty acids. Omega-3 fatty acids are found naturally in foods such as fish, nuts, and seeds and have been recommended for good health, particularly heart health, for a long time. However, after ingesting these supplements, consumers experience several issues, including fish burps, an unpleasant aftertaste, and odor masking. Manufacturers are focusing on developing innovative solutions to these problems. The market is also boosted by these product enhancements.
Beverages With Omega-3 Infusion Being Rapidly Popular Among Consumers Creates Global Omega-3 Product Market Opportunities
Beverage manufacturers have experience with fortification. In addition, forms and fortified substances have evolved over time. As consumer demand for fortified beverages increases, beverage companies are turning to vitamins and minerals to meet this demand and promote functional claims. Among the most prevalent health benefits touted by businesses for beverages are those for the immune system, brain and nervous systems, heart, and weight management. Omega 3 fatty acids are gaining popularity in the beverage industry due to their association with improved health and brain growth. To enhance the value of their brands, beverage industry titans are gaining prominence.
The Asia Pacific is likely to command the omega-3 product market while proliferating at a CAGR of 9.11%. The market for omega-3 products in the region is growing due to rising consumer awareness of the omega-3 ingredient’s potential in sports nutrition and the expansion of options for individualized nutrition. Consumers embrace wellness and health initiatives in response to the government’s Healthy China 2030 objective. The nation’s interest in health, sports, and wellness is intensifying. The demand for brain health-improving products is high among the aging population. Younger people seek cognitive support due to the stress of school and exams, which drives the market for omega-3 products in various forms, primarily supplements and functional foods.
North America is expected to advance at a CAGR of 6.82% and reach USD 18,394 million. Docosahexaenoic acid (DHA), an omega-3 fatty acid, is essential to infant nutrition in the region’s countries. Almost all infant nutrition formula brands in the region contain DHA, raising the formula’s price. Due to this factor, the region’s market for omega-3 products derived from algae is expanding. Enfamil, a company based in the United States, sells Enfagrow A+ Stage 4 Nutritional Milk Powder, which contains DHA and other essential prebiotics and micronutrients.
- Based on the product type, the infant nutrition section will advance at a CAGR of 7.3% and hold the largest revenue share.
- Based on the distribution channel, the grocery retailer section will advance at a CAGR of 7.35% and hold the largest market share.
- Based on the source, the animal-based section will advance at a CAGR of 7.45% and hold the largest market share.
- Based on the regional segmentation, the Asia Pacific is likely to command the omega-3 product market while proliferating at a CAGR of 9.11%.
Competitive Players in the Market
- Nestle SA
- Unilever PLC
- Amway Corporation
- Aker BioMarine
- Blackmores Group
- Herbalife Nutrition Ltd
- Glanbia PLC
- Reckitt Benckiser Group PLC
- Natrol LLC
- Nordic Naturals Inc.
- Now Foods
- In 2022, the creator of premium single-serve coffee, Nespresso, unveiled a new line of coffee capsules that can be composted at home. New paper-based home compostable capsules provide a different way to enjoy sustainably sourced high-quality coffee without sacrificing a premium coffee experience.
Global Omega-3 Product Market: Segmentation
By product type
- Functional Food and Beverages
- Dietary Supplements
- Infant Nutrition
- Pet Food and Feed
By distribution channel
- Grocery Retailers
- Pharmacies and Drug Stores
- Internet Retailing
- Other Distribution Channels
- North America
- Asia Pacific
- South America
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