Omega-3 Supplements: The Rising Demand and Future Projections
The omega-3 market
is projected to reach USD 7.4 billion by 2029 from USD 3.9 billion by 2024, at
a CAGR of 13.5% during the forecast period in terms of value. Conventional fish oil sources are no longer
the sole choice. Sustainable and plant-based substitutes such as algae,
flaxseed, and chia seed oil are becoming increasingly popular, addressing
dietary limitations and ethical considerations. Furthermore, novel formats like
micro-emulsified supplements and fortified food items are enhancing convenience
and attractiveness, appealing to a broader demographic.
Download PDF brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=227
Plant source segment is expected to maintain consistent
growth in omega-3 market during the forecast period
Plant-powered Omega-3s are surging, fueled by
ethically-conscious consumers seeking sustainable alternatives. Vegan,
vegetarian, and allergy-friendly, these innovative options like algae oil and
chia seed extracts boast potential unique health benefits and wider
accessibility. Affordability and government initiatives promoting sustainable
practices add further momentum. While ensuring potency and educating consumers
remain key hurdles, the future of Omega-3 looks green, with this segment poised
to shape a more responsible and inclusive market landscape.
North America to dominate the omega-3 market during the
forecast period
In North America, the demand for Omega-3 is increasing,
particularly in dietary supplement applications, driven by the recognition of
Omega-3's benefits health. Omega-3 fatty acids are among the most popular
dietary supplements, known for their potential benefits for heart health, brain
function, and overall well-being. The demand for omega-3 supplements in North
America has been steadily increasing due to rising awareness about their health
benefits and the inclusion of omega-3 in various health recommendations.
Key Market Players
The key players in this market include 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). These market
participants are emphasizing the expansion of their footprint via agreements
and partnerships. They maintain a robust presence in North America, Asia
Pacific, South America, RoW, and Europe, supported by manufacturing facilities
and well-established distribution networks spanning across these regions.
Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=227
Comments