EPA/DHA Omega-3 Market Report Overview
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The global EPA/DHA Omega-3 market size was USD 64500 million in 2022 and is projected to touch USD 151920 million by 2031, exhibiting a CAGR of 10.0% during the forecast period.
The COVID-19 pandemic has had an unprecedented and staggering impact on the market, with the EPA/DHA Omega-3 market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR can be attributed to the market's growth and the demand returning to pre-pandemic levels.
EPA/DHA Omega-3 is a type of polyunsaturated fatty acid that plays a crucial role in maintaining optimal health. It is primarily found in fish oil and certain marine sources. It is available in various forms, including capsules and powders, and finds extensive applications in infant formula, fortified foods and beverages, nutritional supplements, pharmaceuticals, and clinical nutrition. Consumption of the product is associated with several health benefits, such as promoting heart health, reducing inflammation, supporting brain function, and enhancing overall well-being.
The market is witnessing significant growth due to increasing awareness about the health benefits associated with its consumption. Consumers are becoming more conscious of their well-being and are actively seeking nutritional supplements and functional foods enriched with EPA/DHA Omega-3. Additionally, the rising prevalence of chronic diseases, such as cardiovascular disorders, diabetes, and cognitive impairments, has fueled demand for the product, as a preventive and therapeutic measure.
COVID-19 Impact: Increased Demand Due to Health Consciousness and Immune Support
The COVID-19 pandemic has heightened the importance of maintaining a healthy lifestyle and boosting immune function. As a result, there has been a surge in demand for dietary supplements, including EPA/DHA Omega-3. Consumers are increasingly focusing on enhancing their immune systems and adopting preventive measures to mitigate the risk of viral infections. The potential benefits of the product in supporting immune function have driven its demand during the pandemic.
Latest Trends
"Launch of New Formulations to Create Product Stability and Bioavailability"
In this dynamic market, companies have embraced innovation as a key trend. To cater to specific consumer needs, market players are launching innovative products and formulations. Notably, research and development investments have paved the way for advanced EPA/DHA Omega-3 supplements and functional foods. Through the use of microencapsulation technology, product stability, and bioavailability have been improved, enhancing the overall consumer experience. Furthermore, companies are actively expanding their distribution channels and bolstering their online presence to reach a broader customer base. These strategies allow market players to stay competitive and meet the evolving demands of health-conscious consumers.
EPA/DHA Omega-3 Market Segmentation
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- By Type Analysis
The market can be segmented into capsule EPA and powder EPA. Capsule EPA holds the dominant position in the market and is widely consumed due to its convenience and ease of use.
- By Application Analysis
Based on application, the market can be divided into infant formula, fortified foods and beverages, nutritional supplements, pharmaceuticals, and clinical nutrition.
Among these, nutritional supplements account for the largest market share, driven by the growing popularity of dietary supplements among health-conscious consumers.
Driving Factors
"Rising Prevalence of Chronic Diseases, Creates Product Demand"
The market is experiencing robust growth, driven by several key factors. Firstly, there is a growing consumer awareness regarding the importance of maintaining a healthy diet and the role of EPA/DHA Omega-3 in overall well-being. As individuals become more health-conscious, they actively seek out functional foods and supplements that can provide essential nutrients and support their overall health. The demand is further propelled by the increasing prevalence of chronic diseases, such as cardiovascular disorders, diabetes, and cognitive impairments. Many consumers view EPA/DHA Omega-3 as a preventive measure and a supportive therapy for these conditions.
Scientific research has also played a vital role in driving market growth. Numerous studies have demonstrated the various health benefits associated with the product, including its positive effects on heart health, brain function, and inflammation reduction. The dissemination of this research has further heightened consumer interest and encouraged them to incorporate the product into their dietary habits.
"Growing Consumer Demand for Algae-Based Product Enhances Market Growth"
As consumers gravitate toward natural and plant-based products, there is a growing demand for EPA/DHA Omega-3 derived from sustainable sources, such as algae. Algae-based EPA/DHA Omega-3 supplements are gaining popularity among vegans, vegetarians, and individuals with seafood allergies. The availability of plant-based alternatives to fish oil has expanded the consumer base and contributed to the market's growth.
Restraining Factors
"Price Volatility and Regulatory Constraints Hinder Market Growth"
The market faces challenges due to the price volatility of raw materials, primarily fish oil. Fluctuations in fish stocks, environmental factors, and fishing regulations can impact the availability and cost of fish oil, affecting the profitability of market players. Additionally, stringent regulatory standards and quality control requirements pose challenges to manufacturers, as they need to ensure compliance and maintain product quality.
EPA/DHA Omega-3 Market Regional Insights
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"North America Leads Due to High Consumer Awareness Related to Health Benefits"
North America holds the largest market share in the world. The region's dominance can be attributed to the high consumer awareness regarding the health benefits of EPA/DHA Omega-3, coupled with a well-established dietary supplement market. The United States is the major contributor to the growth of the market in North America.
Europe is the second-largest market, driven by the increasing adoption of healthy lifestyles and the growing demand for functional foods and supplements. Countries such as Germany, the United Kingdom, and France are the key markets in the region.
Key Industry Players
"Key Players Focus on Partnerships to Gain a Competitive Advantage"
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
List of Market Players Profiled
- WHC (France)
- Viva (U.S.)
- OmegaVia (U.S.)
- Nutrigold (U.S.)
- Omax3 (U.S.)
- The Ocean (Canada)
- InnovixLabs (U.S.)
- Controlled (U.S.)
Report Coverage
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 64500 Million in 2022 |
Market Size Value By |
US$ 151920 Million by 2031 |
Growth Rate |
CAGR of 10% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the global EPA/DHA Omega-3 market expected to reach by 2031?
The global EPA/DHA Omega-3 market is expected to reach USD 151920 million by 2031.
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What CAGR is the EPA/DHA Omega-3 market expected to exhibit by 2031?
The EPA/DHA Omega-3 market is expected to exhibit a CAGR of 10.0% by 2031.
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What are the driving factors of the EPA/DHA Omega-3 market?
The driving factors of the EPA/DHA Omega-3 market include increasing consumer awareness of health benefits and the rising prevalence of chronic diseases.
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Which are the key players or most dominant companies functioning in the EPA/DHA Omega-3 market?
The dominating companies in the EPA/DHA Omega-3 market are WHC, Viva, OmegaVia, Nutrigold, Omax3, The Ocean, InnovixLabs, and Controlled.