Rising product usage in the Active Pharmaceutical Ingredient (API) market is among the major driving factors for the omega 3 market. Moreover, rising population in emerging regions, most notably in Asia Pacific, has complemented the growth of this market. In addition, technological advancements pertaining to the manufacturing of APIs among other highly potent active ingredients will drive the market further.
The Global Omega 3 Market size is projected to reach USD 3.77 billion by 2025 registering a CAGR of 7.4%, according to a new report by Grand View Research, Inc.
In addition, rapid growth of the dietary supplements market is projected to bolster the product demand. Omega 3 is being increasingly used in the dietary supplements as it can significantly reduce the risk of cardiovascular and heart diseases. Moreover, it can also reduce the risk of arrhythmias or abnormal heartbeats.
Furthermore, it helps slow down the growth of atherosclerotic plaque while lowering the levels of blood pressure. In addition, rising disposable incomes, especially in middle class population in emerging economies of China and India, will augment the demand further.
North America emerged as the largest market in 2018 due increased focus on R&D activities for developing various grades of the product, especially pharma-grade omega 3 for enhanced medication to prevent chronic diseases. However, Asia Pacific is expected to witness the fastest CAGR over the forecast period. Ongoing advancements in the food industry and medical science coupled with demographic changes and high consumer demand are expected to provide impetus for the regional market growth.
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Top Players of Omega 3 Market:
Some of these key market participants include Aker BioMarine, Axellus, BASF SE, DSM, Omega Protein Corp., GC Rieber Oils AS, Martek Biosciences Corp., and Lonza Group.
Market Segmentation of Omega 3 Market:
The Global Omega 3 Market segmented on the basis of Application and Region.
- Supplements & Functional Foods
- Infant Formulas
- Pet & Animal Feed
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
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