In a recent published report, Kenneth Research has updated the market report for Omega 3 Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Omega 3 Market products.
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The Global Omega 3 Marketwas valued at USD 11.28 billion in 2016 and is projected to reach USD 35.27 billion by 2025, growing at a CAGR of 13.50% from 2017 to 2025.
Omega 3 are polyunsaturated fatty acids which are very good for health. They prevent and treat many diseases like Cancer, Cardiovascular diseases and high blood pressure. As Omega 3 is multi-functional, it has led to large scale adoption in various applications. Fish and krill oils are two marine sources for omega-3 fatty acid. The omega-3 market for infants has witnessed high growth rate in the packaged food industry.
1. Market Drivers
1.1 High demand for omega 3 in Pharmaceuticals.
1.2 High cases of chronic diseases.
1.3 Major change in product technologies.
2. Market Restraints
2.1 High costs involved in R&D activities.
2.2 Very high costs of raw materials.
2.3 Absence to Recommended Daily Intake
The Global Omega 3 Market is segmented on thebasis of
1. By Application:
1.1 Functional Foods & Beverages
1.2 Dietary Supplements
1.4 Infant Formula
2. By Type:
2.1 Eicosapentaenoic Acid (EPA)
2.2 Docosahexaenoic Acid (DHA)
2.3 Alpha-Linolenic Acid (ALA)
3. By Sub Source and Source:
3.1 Plant Sources
3.1.1 Chia Seed Oil
3.1.2 Flaxseed Oil
3.1.3 Other Plant Sources
3.2 Marine Sources
3.2.1 Algal Oil
3.2.2 Fish Oil
3.2.3 Krill Oil
3.2.4 Other Marine Oils
4. By Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Rest of World
The major players in the market are as follows:
1. Cargill, Incorporated
2. Croda International PLC
3. Omega Protein Corporation
5. Pharma Marine UsaLlc
6. FMC Corporation
7. Royal DSM
8. Arista Industries Inc.
10. GC Rieber
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Global Omega 3 Marketwas performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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