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CORONAVIRUS THREAT TO GLOBAL OMEGA 3 MARKET (FISH OIL & KRILL OIL) (2020-2024)

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The global omega 3 market is expected to reach US$8.30 billion in 2024, growing at an annual growth rate of 10.63%, for the duration spanning 2020-2024. Factors such as rising penetration of omega 3 in Active Pharmaceutical Market (APM), upsurge in ageing population, growing obese populace, rapid urbanization and growing disposable income are expected to drive the market. The growth of the market would be challenged by concerns regarding the side effects of omega 3 and risks associated with excessive EPA and DHA content. A few notable trends may include rising prevalence of rheumatoid arthritis, accelerating demand for dietary supplements and increasing E-commerce retail sales.

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The global omega 3 market is highly concentrated with fish oil, due to its increased popularity among consumers. The benefits of consuming fish oil are widespread among consumers, which is why it is highly preferable by them. The numerous uses of fish oil along with its benefits in reducing risk factors of cardiovascular diseases, are making it a popular choice of consumers. Whereas, krill oil is also emerging significantly in the market, owing to its EPA and DHA content, which are beneficial for healing various health problems.

The fastest growing regional market is North America due to the wide usage of fish oil in daily diet, as well as increasing health awareness among people, which is augmenting the demand for omega 3. Growing cultivation of krill fish is also expected to propel the overall market development. While Europe and Asia Pacific also held considerable shares in the omega 3 market, owing to the continuous growth in the demand for dietary supplements.

Scope of the report:

  • The report provides a comprehensive analysis of the global Omega 3 Market (Fish Oil and Krill Oil).
  • The major regional markets (North America, Europe, Asia Pacific and South America) have been analyzed.
  • The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
  • The competitive landscape of the market, along with the company profiles of leading players (Cargill, BASF, Royal DSM, Lonza Group, Orkla ASA and Croda International) are also presented in detail.

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Key Target Audience:

  • Omega 3 Products Manufacturers
  • Raw Material Suppliers
  • End Users (Food & Beverage industry, Supplement Industry, Direct Users, etc.)
  • Industrial Consultants
  • Investment Banks
  • Government Bodies & Regulating Authorities

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