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.
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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.
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