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.
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.
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The major sources of omega-3 are plants, including algae pol and flaxseed oil, and animals, including cod liver oil, fish oil, and krill oil. Omega-3 from animal sources was more in demand in 2019. Human body needs EPA and DHA in much larger quantities than it does alpha-linolenic acid, and animal-based omega-3 has EPA and DHA, its requirement is expected to increase in the coming years as well. The major end users of omega-3 are veterinary supplements, dietary supplements, infant nutrition formulas, functional food ingredients, and pharmaceuticals. Dietary supplements made the most use of omega-3 in 2019, which is because these supplements are preferred by a large number of consumers for healthy lifestyle choices.
Geographically, Asia-Pacific (APAC) is projected to emerge as the largest omega-3 market in the coming years, which is attributed to the shifting consumer preference towards a healthy diet that consists of omega-3 ingredients. In the region, China consumes a significant amount of DHA and EPA, and the consumers in the country obtain omega-3 mostly from fortified foods and fish supplements. Apart from APAC, North America also consumes a considerable amount of omega-3, particularly because of its health benefits.
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In conclusion, the growing awareness of people regarding the consumption of healthy food is resulting in the rising demand for market for omega-3.