Omega-3 PUFA Market | Uses, Price, Growth, Key Players, Development Strategy, Sales Revenue and Forecast 2023
Global Omega-3 PUFA Market: Information by Type (Docosahexaenoic Acid [DHA], Eicosapentaenoic Acid [EPA], Alpha-Linolenic Acid [ALA]), Source (Plant Sources [Flaxseed, Chia Seed and others], Marine Sources [Fish, Algae, Krill and others]), Application (Functional Food & Beverages, Dietary Supplements, Infant Formula, Pharmaceuticals & Nutraceuticals and others) and Region (North America, Europe, Asia-Pacific and Rest of the World) – Forecast till 2025
The Global Omega-3 PUFA Market is expected to register a CAGR of 11.01% to reach USD 8,418.0 Million by 2025. Omega-3 long-chain polyunsaturated fatty acids (PUFA), including eicosatetraenoic acid (EPA) and docosahexaenoic acid (DHA), are dietary lipids that offer an array of health benefits. Omega-3 PUFA play a crucial role in anti-inflammatory processes in the cell membrane, thereby improving immunity in response to an infection in the human body.
The global omega-3 PUFA market is expected to grow at a notable pace during the forecast period. Market growth can be attributed to the increasing health consciousness and the growth of various application industries. The focus on preventive healthcare is a key factor for the growth of the market. The alternative sources of omega-3 have created growth opportunities for market players. However, the high costs of omega-3 are hampering the growth of the market.
Market Dynamics
Omega-3 PUFA Industry is expected to grow at a substantial rate during the forecast period. Omega-3 PUFA offers various benefits for human health for which its application in industries is increasing. Over the years, the healthcare industry has been shifting from a focus on curative healthcare to preventive healthcare. This trend has had a significant impact on the demand for functional foods & beverages, dietary supplements, and nutraceuticals which is driving the growth of the global omega-3 PUFA market. Moreover, omega-3 PUFA finds application in various products in the personal care industry owing to their skin-benefiting properties. However, these products are expensive due to the high raw material costs and complex extraction process which acts as a restraint for market growth.
Segmentation
The dietary supplements segment is expected to expand at a substantial CAGR and reach USD 2,846.4 million by the end of 2025. Omega-3 PUFA are extensively used in dietary supplements. Consumption of these supplements is projected to rise in the next few years which will boost the application of omega-3 PUFA in dietary supplements. However, the increasing demand for nutrition-rich infant formula is projected to boost the sales of omega-3 PUFA in infant formula and the segment is expected to be the fastest-growing during the forecast period.
Regional Analysis
North America is expected to constitute the largest share of the global omega-3 PUFA market during the forecast period. The region accounted for a 31.11% share of the global market in 2018. The US is a major contributor to the growth of the North American omega-3 PUFA market. Growing health consciousness among consumers and increasing awareness regarding the benefits of omega-3 are key factors driving the growth of the market. However, the market in Asia-Pacific is projected to exhibit the highest CAGR during the forecast period. The demand for omega-3 in infant formula in the region has grown in the last few years and is expected to continue during the forecast period. Europe accounted for a significant share of the market in 2018. Consumers in the region are health conscious and prefer high nutritional products which boost the consumption of omega-3 PUFA in this region.
Key Players
The prominent players operating in the Global Omega-3 PUFA Market include Cargill, Incorporated (US), BASF SE (Germany), Pharma Marine AS (Norway), Croda International Plc (UK), Polaris (France), Pelagia AS (Norway), Omega Protein Corporation (US), Arista Industries (US), Koninklijke DSM N.V. (Netherlands), and Arjuna Natural Pvt Ltd (India).
The players operating in the global omega-3 PUFA market are focusing on strengthening their footprints by entering untapped markets.
Market Segmentation
Global Omega-3 PUFA Market, by Type
- Docosahexaenoic Acid (DHA)
- Eicosapentaenoic Acid (EPA)
- Alpha-Linolenic Acid (ALA)
Global Omega-3 PUFA Market, by Source
- Plant SourcesFlaxseed
- Marine SourcesFish
- Chia Seed
- Others
- Algae
- Krill
- Others
Global Omega-3 PUFA Market, by Application
- Functional Food & Beverages
- Dietary Supplements
- Infant Formula
- Pharmaceuticals & Nutraceuticals
- Others
Global Omega-3 PUFA Market, by Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia & New Zealand
- Rest of Asia-Pacific
- Rest of the World (RoW)
- South America
- Middle East
- Africa
Available Additional Customizations
- Company Profiles of Regional Key Players
- Country-Level Analysis
Intended Audience
- Omega-3 PUFA manufacturers
- Food & beverages manufacturers
- Infant formula manufacturers
- Personal care industry
- Traders, wholesalers, and distributors
- Governments, associations, and industrial bodies
- Investors and trade experts