Omega-3 Concentrates Market

Omega-3 Concentrates Market Overview

The global omega-3 concentrates market size is projected to exhibit growth at a considerable CAGR of 7.5% and reach US$ 5.3 Billion in the forecast period from 2022 to 2032. It is expected to be valued at US$ 2.4 Billion in 2022. The high spending by consumers in both developed and developing economies on healthy foods and dietary supplements is anticipated to drive the demand for omega-3 concentrates in future.

Omega-3 concentrates are highly concentrated oils that contain DHA and EPA which sum up more than 50%. These are mainly obtained from omega-3 rich oils, which are processed by technologically advanced facilities to gain a higher concentration of DHA or EPA.

These are easily available in the powder and oil form and are extensively used by manufacturers of dietary supplements to produce capsules. At the same time, these are utilized as a pharmaceutical grade component, as well as in food and beverages.

The emergence of new entrants in the market is another crucial factor that is likely to drive the growth. In March 2022, for instance, Else Nutrition Holdings Inc. unveiled its latest nutrition drink named Else Toddler Omega. It is the company’s first-ever toddler product that is equipped with Omega 3 fatty acids for eye and brain development. The launch of similar other innovative products is anticipated to accelerate the growth in this market.

Which are Some Prominent Drivers Spearheading Omega-3 Concentrates Market Growth?

The increasing awareness about various attributes and health benefits provided by omega-3 concentrates is projected to drive the market. The rising spending by consumers on healthy products owing to improving lifestyles and high disposable income is another major factor that is anticipated to propel the sales of omega-3 concentrates in the near future.

The growing focus of renowned suppliers and manufacturers on the expansion of their supply chain, especially in emerging economies is likely to bode well for the market. The ongoing development of various state-of-the-art products, such as non-GMO and gluten-free concentrates is estimated to fuel the growth in this market.

What are the Challenges Faced by the Omega-3 Concentrates Industry?

The high cost of omega-3 concentrates may hamper the growth in this market. The expensive nature of such products would make it difficult for people in developing companies to afford these. However, the entry of a large number of key players in the market is expected to result in the reduced prices of these concentrates, which may propel the market.

Why is Asia Pacific emerging as an Opportunistic Omega-3 Concentrates Market?

Asia Pacific is projected to remain at the forefront by accounting for the largest omega-3 concentrates market share in the evaluation period. This growth is attributable to the rapid inclination of consumers towards a healthy diet infused with omega-3 ingredients in India and China.

China is considered to be the third-largest market for DHA and EPA oils across the globe. The surging usage of fish oil in this country, as well as the high demand for novel dietary supplements would propel the market in China.

In addition to this, the increasing demand for algal DHA oil in the fortified food and beverage industry is estimated to augur well for the regional market. In India, the higher usage of fortified omega-3 products, such as health drinks, eggs, and cooking oil is set to spur the growth.

The rising awareness about cutting-edge concentrates, especially algal oils for fighting depression, as well as enhancing cardiovascular and joint health in Australia is also likely to bolster the growth.

Nandini Roy Choudhury

Principal Consultant

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How is North America Contributing to Growth of the Omega-3 Concentrates Market?

The presence of several renowned companies in the U.S. and Canada is anticipated to augur well for the omega-3 concentrates market growth across North America. As per FMI, the demand for ultra-high omega-3 concentrates is expected to grow in the assessment period owing to the increasing cases of omega-3 deficiency in North America.

Various companies based in this region are set to consistently launch unique products to cater to the ever-increasing demand from the populace. In March 2022, for instance, Neptune Wellness Solutions Inc., a health and wellness company based in Canada, introduced its new range of supplements called Forest Remedies Multi Omega 3-6-9 across the U.S.

These are made with Ahiflower oil and this launch would help the company to strengthen its position in the consumer packaged goods sector. Thus, the increasing number of new product launches are likely to boost the market in North America.

Market Competition

The global omega-3 concentrates market consists of some of the leading key players, including Australian Omega Oils Pty. Ltd., BASF SE, Epax Norway, K Pharmtech Co., Ltd., GC Rieber VivoMega, AlaskOmega Golden Omega S.A., Norwegian Fish Oil, Nordic Naturals, Inc., and DSM Nutritional Products AG among others.

The global market is highly fragmented with the presence of many large- and small-scale companies. Majority of these companies are focusing on mergers and acquisitions with local players to expand their geographic presence. A few other players are aiming to engage in collaborations and joint ventures with reputed firms to strengthen their positions and develop innovative products.

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Scope of Report

Key Segments Profiled in the Omega-3 Concentrates Industry Survey

By Form:

• Powder
• Oil

By Source:

• Krill
• Fish
• Calamari
• Algae
• Others

By Type:

• Triglyceride (TG)
• Ethyl Ester (EE)
• Phospholipids (PL)

By Concentration:

• High DHA
• High EPA
• Balanced EPA: DHA

By End Use:

• Food and Beverages
• Dietary Supplements
• Pharmaceuticals
• Nutraceuticals
• Infant Formula
• Personal Care and Cosmetics
• Pet Food

By Packaging:

• Drums
• Totes

By Region:

• North America
• Latin America
• Western Europe
• Easter Europe
• APEJ
• Japan
• Middle East & Africa