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Omega 3 Products Market to grow by USD 24. 31 billion during 2022-2027 | The growing awareness of health benefits associated with Omega-3 fatty acids drives market – Technavio

Omega 3 Products Market to grow by USD 24. 31 billion during 2022-2027 | The growing awareness of health benefits associated with Omega-3 fatty acids drives market – Technavio

NEW YORK, Aug. 21, 2023 /PRNewswire/ — The omega 3 products market is expected to grow by USD 24,313.58 million during 2022-2027, progressing at a CAGR of 8.24%. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. The Omega-3 Products market encompasses key regions, including North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. These regions exhibit varying levels of demand for health and wellness products, driving the consumption of Omega-3 supplements. However, the market is not without challenges. Stringent regulations lead to significant hurdles, with concerns about contaminants, accurate labeling, and safety of novel ingredients. Misleading labeling can undermine consumer trust, and introducing new components like krill oil requires rigorous safety assessments. Major companies in the Omega-3 Products market, including key players like Unilever, Nestle, and Pelagia, employ diverse strategies such as alliances, acquisitions, and product launches to strengthen their market presence.

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Omega 3 Products Market: Rising consumer interest in natural and organic products to drive growth

The Omega 3 Products Market growth is driven by increasing consumer interest in natural and organic products. As health-conscious consumers seek cleaner and more sustainable dietary options, the demand for Omega-3-rich sources like natural fatty fish, flaxseed, and chia seed oils, as well as organic supplements, is expected to rise, propelling the market’s expansion in the coming years.

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As per Technavio, the rising consumer interest in natural and organic products will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2022-2027.

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Omega 3 Products Market: Segmentation Analysis

This market research report segments the omega 3 products market by Product (Functional food and supplements, Infant nutrition, Pharmaceutical, and Pet food and feed), Type (DHA, EPA, and ALA), and Geography (North America, APAC, Europe, South America, and Middle East and Africa).

The North America region led the omega 3 products market in 2023, followed by APAC, Europe, South America, and Middle East and Africa respectively. During the forecast period, the North America region is expected to register the highest incremental growth in the Omega 3 Products market. This growth can be attributed to factors such as the increasing awareness of the health benefits associated with Omega-3 fatty acids among the population, a robust demand for functional foods and supplements, and a rising emphasis on preventive healthcare. Furthermore, the well-established dietary supplement industry and the availability of a variety of Omega-3 enriched products are anticipated to contribute to North America’s continued market leadership and its ability to capitalize on the growing consumer preference for healthier and nutritionally balanced choices.

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Challenges of Omega 3 Product Market:

  • Stringent regulatory compliance, especially in labeling and health claims.
  • Contaminant concerns, addressing harmful substances like mercury and PCBs.
  • Consumer education and perception regarding Omega-3 benefits.
  • Sustainability and overfishing issues with marine resources.
  • Ensuring consistent ingredient sourcing and quality for efficacy.
  • Fluctuating regulatory standards and the emergence of alternative health supplement.

Companies are using various strategies to increase their market presence, including strategic alliances, partnerships, mergers and acquisitions, geographic growth, and the launch of new products and services.

  • Unilever PLC – The company offers Omega-3 products such as Hellmanns Mayonnaise.
  • Nestle SA – The company offers Omega-3 products such as Nestle omega low-fat milk.
  • Pelagia AS – The company offers Omega-3 products such as Epax ultra concentrates.

The research analysis provided by Technavio also contains an in-depth study of the market’s competitive landscape and data on major companies, including:

  • Aker BioMarine ASA
  • Amway Corp.
  • Archer Daniels Midland Co.
  • BASF SE
  • Cargill Inc.
  • Cooke Aquaculture Inc.
  • Croda International Plc
  • GC Rieber AS
  • Golden Omega S.A.
  • Herbalife International of America Inc.
  • Inner Mongolia Mengniu Dairy Co., Ltd.
  • Koninklijke DSM NV
  • Lonza Group Ltd.
  • Natures Crops International
  • Orkla ASA
  • Quadra Chemicals Ltd.
  • Reckitt Benckiser Group Plc

Buy the detailed report now, to get an insight into the market and make informed decisions.

Related Reports Include:

Algae Omega 3 Ingredient Market: At a CAGR of 11.95%, the algae omega 3 ingredient market share is expected to rise to USD 797.48 million from 2021 to 2026. The report covers algae omega 3 ingredient market segmentation by type – DHA, EPA, and EPA and DHA and Geography – North America, Europe, APAC, South America, and Middle East and Africa.

Camelina Oil Market: The Camelina Oil Market is projected to increase by USD 228.48 million from 2022 to 2027. The market is estimated to grow at a CAGR of 5.98% between 2022 and 2027. In 2017 the market size was valued at USD 228.48 million. This market is segmented by application into biofuels, cosmetics, and food.

Omega 3 Products Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 8.24%

Market growth 2023-2027

USD 24,313.58 million million

Market structure

Fragmented

YoY growth 2022-2023(%)

7.21

Regional analysis

North America, APAC, Europe, South America, and Middle East and Africa

Performing market contribution

North America at 36%

Key countries

US, Canada, China, Japan, and Germany

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Aker BioMarine ASA, Amway Corp., Archer Daniels Midland Co., BASF SE, Cargill Inc., Cooke Aquaculture Inc., Croda International Plc, GC Rieber AS, Golden Omega S.A., Herbalife International of America Inc., Inner Mongolia Mengniu Dairy Co., Ltd., Koninklijke DSM NV, Lonza Group Ltd., Natures Crops International, Nestle SA, Orkla ASA, Pelagia AS, Quadra Chemicals Ltd., Reckitt Benckiser Group Plc, and Unilever PLC

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

Originally published at https://www.prnewswire.com/news-releases/omega-3-products-market-to-grow-by-usd-24-31-billion-during-2022-2027–the-growing-awareness-of-health-benefits-associated-with-omega-3-fatty-acids-drives-market—technavio-301905201.html
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