Dec 16, 2020: In this report,global Omega-3 Market will reach 16034.84 Million USD by the end of 2023 with a CAGR of 7.41%
The global Omega-3 market is valued at 10440.22 Million USD in 2017 and will reach 16034.84 Million USD by the end of 2023, growing at a CAGR of 7.41% during 2017-2023.
Omega-3, also called ?-3 fatty acids or n-3 fatty acids, are polyunsaturated fatty acids (PUFAs) with a double bond (C=C) at the third carbon atom from the end of the carbon chain. Three types of omega-3 PUFA involved in human physiology are ?-linolenic acid (ALA) (found in plant oils), eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA) (both commonly found in marine oils). They are considered essential fatty acids and necessary for human health but the body can't make them. Also, they play a role in brain health as well as normal growth and development.
Omega-3 can be divided into two categories-Marine Omega-3 and Algae Omega-3 type. Marine Omega-3 type sales market share accounted for the highest proportion, with a figure of 93.02% in 2017, Algae Omega-3 type account for 6.98%.
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The sales market share of global Omega-3 in Dietary Supplements use, Fortified Food and Beverage use, Infant Formula use, Pharmaceuticals use, Pet Foods use and other applications have been stable year by year, at 64.52%, 10.76%, 3.54%, 2.12%, 17.80% and 1.26% respectively in 2017, and for several consecutive years, the amplitude was within one percent. This indicates that the segment of the Omega-3 in the global market tends to be fixed without great changes. Among them, the Omega-3 market has the most promising sales prospects in Dietary Supplements use.
DSM is the largest company in the global Omega-3 market, accounted for 26.64% of the revenue market share in 2017, followed by Marine Ingredients and BASF, accounted for 12.15% and 12.04% of the revenue market share in 2017. The Omega-3 market concentrate is rather dispersion, these manufacturers range from large multinational corporations to small privately owned companies compete in this industry, and the top 5 takes 48.30% of global production.
In the coming few years, global sales of omega-3 will continue to increase. With the development of economy, these industries will need more omega-3. So, omega-3 has a huge market potential in the future.
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Geographically, global Omega market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including
• Golden Omega
• Omega Protein
• Marine Ingredients
• GC Rieber
• Orkla Health
• OLVEA Fish Oils
• Hofseth BioCare
• Nippon Suisan Kaisha
• KD Pharma
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