It is also used in treating dementia, attention deficit hyperactivity disorder, coronary artery disease (CAD), and Type 2 diabetes. Moreover, it is widely used in nutritional supplements and fortified foods. In the human diet, DHA is the most essential and abundant omega-3 fatty acid, which helps in maintaining the health of the human body.ĭHA is a crucial component for the development and maturity of an infant's brain and eyesight.
This is attributed to the growing utilization of the product in infant formulas to improve the overall health of an infant. Type Insightsĭocosahexaenoic acid (DHA) type dominated the market with the highest revenue share of 62.4% in 2022. Furthermore, the increasing government initiatives to promote the usage of omega 3 in different end-use applications are projected to positively impact the market demand.
Growing demand for omega 3 coupled with rising pressure on anchovy fisheries to extract fish oil has increased the demand from non-fish sources including flaxseed, walnuts, algae, and krill oil. Increasing consumption of enhanced medicines to treat and prevent chronic diseases is likely to spur overall consumption in the coming years. Numerous manufacturers present in the U.S., including BioProcess Algae, Martek Biosciences Corporation, and Omega Protein Corporation are focusing on research and development activities for launching pharmaceutical-grade omega 3 in the market. Moreover, growing consumer preference for a healthy and nutritional diet is further expected to fuel the product demand in the near future. is projected to grow significantly over the next few years owing to rising consumer awareness in the country regarding the several health benefits offered, including lowering blood pressure, cholesterol, and risks related to heart diseases. The demand for omega-3 fatty acids in the U.S. Such factors are anticipated to trigger product demand during the forecast period. The majority of consumers in North America and Europe prefer krill oil over any other source of fish oil due to its unpleasant taste, acid reflux, and large-sized pills. Krill oil is one of the widely used sources of omega-3 owing to its superior properties as compared to traditional fish oil. The market is witnessing continuous diversification in its product offerings as consumers are looking for alternatives to traditional fish oil. Furthermore, the increasing consumer investment in healthcare and one’s well-being is also expected to boost product demand. This is attributable to the rising use of omega 3-based ingredients in the human diet to support brain and heart health. The global omega 3 market was valued at USD 2.43 billion in 2022 and is anticipated to expand at a compound annual growth rate (CAGR) of 7.8% from 2023 to 2030.
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