Omega-3 Fatty Acid Market Share: Key Market Segments and Trends
The Omega-3 Fatty Acid market share has been steadily growing over the years, driven by increasing consumer awareness about the numerous health benefits associated with these essential fatty acids. Omega-3s are known for their anti-inflammatory properties, cardiovascular health benefits, and cognitive function support.
The market is primarily dominated by fish oil-based Omega-3 supplements, which have been widely available for many years. However, with the rise in vegan and vegetarian lifestyles, there has been a surge in demand for plant-based alternatives such as algae-derived Omega-3 supplements.
In recent times, the market has witnessed a shift towards more sustainable and eco-friendly sources of Omega-3s. This has led to the emergence of innovative products like krill oil supplements, which are derived from tiny shrimp-like crustaceans found in the Antarctic Ocean. Krill oil is considered a more sustainable option compared to traditional fish oil as it is sourced from a rapidly renewable marine resource.
Another factor driving the growth of the Omega-3 Fatty Acids market is the increasing awareness among consumers about the numerous health benefits associated with Omega-3s, such as improved heart health and brain function.
The Omega 3 supplements market was valued USD 6.60 billion in 2022 and is estimated to reach USD 12.96 billion by 2030. From 2023 to 2030 & grow at a CAGR of 8.8%.
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KEY MARKET SEGMENTATION:
By Source
- Marine
- Vegetable oils
- Soya and Soya Products
- Nuts and Seeds
By Type
- ALA (alpha-linolenic acid)
- EPA (eicosapentaenoic acid)
- DHA (docosahexaenoic acid)
By Application
- Dietary Supplement
- Food & Beverage
- Fish Feed
- Pharmaceutical
- Infant Formula
- Pet Food
Some of the major key players are as follows: Orkla Health, BASF SE, Aker Biomarine Antarctic AS, EPAX, BioProcess Algae, LLC, Lonza, Croda International Plc, Omega Protein Corp., Koninklijke DSM N.V., GC Reiber Oils and Other Players.
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