Market Size of Omega Ingredients Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 8.20 % |
| Fastest Growing Market | South-East Asia |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Omega Ingredients Market Analysis
Omega ingredients market is projected to grow at a CAGR of 8.20% during the forecast period (2020-2025).
- Omega fatty acids, including omega-3, omega-6, and omega-9 are dietary constituents that have a major influence on human health. Omega fatty acids have received a great amount of research attention in the past decade as a nutritional food supplement.
- New sources of omega-3 algae are hitting the headlines recently. Microalgae, a source rich in omega-3 and beta-carotene, has gained immense popularity among manufacturers as a sustainable source of food and fuel.
- Algae omega ingredients play a key role to drive the overall market growth due to the growing demand for algae omega in infant food fortification, as they provide benefits similar to that of fish oil but have no off-odor or taste.
Omega Ingredients Industry Segmentation
The global omega ingredients market is segmented by source, product type, application, and geography. By source, the market studied is segmented into fish, algae, and plants. By product type, the market studied is segmented into omega-3 and omega-6 and omega-9. By application, the market studied can be segmented into food and beverage, dietary supplements, pharmaceuticals, and animal nutrition. Furthermore, the report also takes into consideration the market for omega ingredients in established and emerging economies, including North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
Omega Ingredients Market Size Summary
The omega ingredients market is experiencing significant growth, driven by the increasing awareness of the health benefits associated with omega fatty acids, such as omega-3, omega-6, and omega-9. These dietary constituents have garnered substantial research attention as nutritional supplements, with new sources like microalgae gaining popularity for their sustainability and health benefits. Algae-based omega ingredients are particularly sought after for infant food fortification, offering advantages similar to fish oil without the undesirable taste or odor. While fish sources dominate the market due to their cost-effectiveness and health benefits, innovations in product development and technology are propelling the market forward, especially in the United States. Companies like DSM and ADM are leading the charge with advancements such as DSM's 3 C technology and ADM's algal omega-3 powder, catering to the growing demand for omega ingredients in various applications.
The global omega ingredients market is characterized by its fragmented nature, with key players such as DSM, Corbion, BASF, and ADM facing intense competition from local and domestic entities. Strategic mergers, acquisitions, partnerships, and investments are pivotal in shaping the market landscape, as companies strive to enhance their market share and expand their consumer base. Notable activities include Cellana Inc.'s acquisition of TerraVia and a stake in Bunge's SB Renewable Oils, aimed at boosting commercial production of algae omega-3 ingredients. The market's competitive dynamics are further influenced by the ongoing research and development efforts to produce superior omega products, reflecting the industry's commitment to meeting the rising demand for these health-promoting ingredients.
Omega Ingredients Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Source
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2.1.1 Fish
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2.1.2 Algae
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2.1.3 Plant
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2.2 By Type
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2.2.1 Omega-3
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2.2.2 Omega-6 & Omega-9
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2.3 By Application
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2.3.1 Food and Beverage
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2.3.2 Dietary Supplements
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2.3.3 Pharmaceutical
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2.3.4 Animal Nutrition
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.1.4 Rest of North America
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2.4.2 Europe
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2.4.2.1 Spain
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2.4.2.2 United Kingdom
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2.4.2.3 Germany
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2.4.2.4 France
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2.4.2.5 Italy
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2.4.2.6 Rest of Europe
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2.4.3 Asia Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Australia
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2.4.3.5 Rest of Asia-Pacific
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2.4.4 South America
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2.4.4.1 Brazil
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2.4.4.2 Argentina
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2.4.4.3 Rest of South America
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2.4.5 Middle East and Africa
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2.4.5.1 South Africa
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2.4.5.2 Saudi Arabia
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2.4.5.3 Rest of Middle East and Africa
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Omega Ingredients Market Size FAQs
What is the current Omega Ingredients Market size?
The Omega Ingredients Market is projected to register a CAGR of 8.20% during the forecast period (2024-2029)
Who are the key players in Omega Ingredients Market?
Koninklijke DSM NV, BASF SE , Polaris SA , Archer Daniels Midland Company and Corbion NV are the major companies operating in the Omega Ingredients Market.
