The global omega 3 market, valued at approximately US$4.4 billion in 2019, is set to experience substantial growth, with a projected valuation of around US$13 billion by 2027, according to a report by Fairfield Market Research. The market is expected to maintain a robust CAGR of 14.6% between 2021 and 2027.
Key Highlights from the Report:
- Nutraceutical Demand: The global omega 3 market is being driven by the increasing demand for nutraceuticals, advancements in application profiling, and innovative product developments. Omega 3 fatty acids, found in dietary supplements, are witnessing rising popularity due to their health benefits.
- Challenges: Lack of clarity regarding the ideal daily intake of omega 3 remains a challenge in the market. Many consumers are unaware of the recommended daily amount of omega 3 they should consume, leading to variations in consumption levels.
Market Overview:
The omega 3 market is experiencing substantial growth as consumers become more health-conscious, driving the demand for omega 3-based dietary supplements and fortified food products.
Key Drivers:
- Nutritional Awareness: Increasing awareness of the health benefits of omega 3, particularly in addressing cardiovascular issues and promoting brain health, is a major driver for the market.
- Research and Development: Ongoing research efforts to find alternative sources of omega 3 are positively influencing market growth.
Challenges:
- Recommended Dosage: The lack of a standardized daily recommended intake for omega 3 remains a challenge, particularly in developing countries with low consumer awareness.
Key Market Segments:
- Type: Dietary supplements are the most attractive segment, driven by conscious consumer consumption. Omega 3 is also making inroads in pet nutrition and animal feed, enhancing the quality of meat, eggs, and milk products.
Geographical Insights:
- North America: North America is poised to lead the global omega 3 market by 2027, driven by continuous product launches and high demand for nutraceuticals.
- Asia Pacific: Asia Pacific is expected to exhibit the highest growth rate, reflecting a significant increase in consumer demand for healthy dietary products and rising health awareness.
Key Market Players:
The global omega 3 market is highly competitive, with key players including BASF Corporation, Cargill Inc, DSM, Lonza, Corbion, Ingredion Incorporated, Archer-Daniels-Midland Company, Friesland Campina, Kerry PLC, and Olam International Ltd.
Browse Global Omega 3 Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2021-2027 [2023 UPDATE Available – Forecast 2023-2030*] (By Type, By Application, By Sources, By Geography, Leading Companies): https://www.fairfieldmarketresearch.com/report/omega-3-market
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Contact
Fairfield Market Research
London, UK
UK +44 (0)20 30025888
USA (Toll-free) +1 (844) 3829746
Web: https://www.fairfieldmarketresearch.com/
Email: [email protected]
This press release first seen on Brilad
COMTEX_440956373/2840/2023-09-26T04:48:53
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Sahyadri Times journalist was involved in the writing and production of this article.
