Omega-3 Market Outlook and Forecast 2020 due to COVID-19 Impact


Posted October 30, 2020 by Rahul_Gautam

Omega-3 Market to Register 8.8% CAGR during 2020–2030
 
It is highly unlikely that junk food will ever go out of trend, however, people are becoming more conscious regarding their health, which is why they are opting for healthier food items. Food items rich in nutrient especially are becoming popular day-by-day among the general public. A major drawback in the past regarding the adoption of healthier food items was their high cost, but due to economic growth and rise in disposable income, a large number of people are able to make healthy choices. A new continuum of nutrient-positioned products ranging from fortified/functional foods to nutrient supplements is emerging across the globe.

Attributed to these reasons, the demand for omega-3 is also increasing rapidly. Omega-3 fatty acids are basically found in foods including flaxseed and fish and dietary supplements including fish oil. Omega-3 supplements are quite beneficial for the body, as is has been observed that their consumption can prevent cardiovascular diseases, asthma, rheumatoid arthritis, depression, and can also aid in slowing down cognitive decline. Moreover, pregnant woman can benefit significantly from omega-3 supplement, as they have docosahexaenoic acid (DHA), which is crucial for the development of the brain of a new born child.

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According to a P&S Intelligence report, in 2019, the global omega-3 market attained a value of $19.7 billion and is expected to generate a revenue of $49.7 billion by 2030, witnessing a CAGR of 8.8% CAGR during the forecast period (2020–2030). Omega-3 is available in tablet or capsule form and liquid form. The larger demand in 2019 was created for liquid form of omega-3, which is ascribed to the availability of this form at a lower price than tablets or capsules and higher levels of eicosapentaenoic acid (EPA) concentration.

In conclusion, the growing awareness of people regarding the consumption of healthy food is resulting in the rising demand for omega-3.

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Omega-3 Market Segmentation

Market Segmentation by Product Type
Liquid Form
Tablet or Capsule Form

Market Segmentation by Source
Animals
Krill oil
Fish oil
Cod liver oil
Others
Plants
Flaxseed oil
Algae oil
Others

Market Segmentation by End Use
Dietary Supplements
Functional Food Ingredients
Pharmaceuticals
Infant Nutrition Formulas
Veterinary Supplements
Others
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Issued By Rahul Gautam
Country India
Categories Business , Health , Research
Tags demand for omega3 market , europe omega3 market , omega3 market , omega3 market report , omega3 market size
Last Updated October 30, 2020