Omega 3 Market strengthened by growing vegan supplement innovations

The global omega-3 market was valued at USD 2.62 billion in 2023 and is expected to grow to USD 4.45 billion by 2030, representing a compound annual growth rate (CAGR) of 7.9 % over the 2024-2030 period. The expansion is driven by increased incorporation of omega-3 ingredients into the human diet to support heart and brain health.

Key Market Trends & Insights

In 2023, the North America region held the largest share of the market, with more than 37.1 % of revenue. Within the type segmentation, docosahexaenoic acid (DHA) led with a revenue share exceeding 56 % for the year. In terms of source, marine-derived omega-3s accounted for the bulk of revenue, with an 83.5 % share in 2023. On the application side, supplements and functional foods dominated the demand side and held over 51 % of the revenue share in 2023.

The growing health-awareness of consumers and demand for dietary support to manage cardiovascular and neurological health have reinforced market growth. Moreover, product innovation is notable: for example, krill oil has grown in appeal in North America and Europe as an alternative to conventional fish oil, given advantages in palatability and pill size. The U.S. is projected to see further gains in demand, supported by rising consumer interest in managing blood pressure, cholesterol and heart-disease risk. The push away from over-exploited anchovy fisheries is also driving interest in non-fish sources such as flaxseed, walnuts, algae and krill oil. Government initiatives in emerging regions are further supporting usage of omega-3 in diverse applications.

Market Size & Forecast

The market size in 2023 is estimated at USD 2.62 billion, and by 2030 it is projected to reach USD 4.45 billion, implying a CAGR of 7.9 % from 2024 to 2030. North America is currently the largest regional contributor, with increasing momentum expected over the forecast period. The expansion is reinforced by rising demand for omega-3-enriched supplements and functional foods, as well as increasing applications in pharmaceuticals and infant nutrition. The shift from traditional fish-oil to alternative sources, combined with heightened health-consciousness among consumers, forms the backbone of growth. The plant-derived source segment is anticipated to show robust growth during the forecast window, driven by demand for vegetable oils and seeds rich in omega-3, as firms seek environmentally friendly and vegan/vegetarian-friendly alternatives.

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Key Companies & Market Share Insight

The omega-3 market is relatively concentrated, with several major players accounting for a substantial portion of global supply and volume. For example, the acquisition of major firms such as Ocean Nutrition Canada and Martek Biosciences by DSM helped shape the competitive landscape and volume dominance of certain players. Rising health-awareness and regulatory endorsements for omega-3 usage in infant formulas and pharmaceuticals have encouraged manufacturers to ramp up investments in technology, product development and capacity expansion. A case in point: In March 2023, one supplier announced a USD 40 million investment in molecular distillation technology aimed at producing highly-concentrated omega-3. In May 2023, another company introduced a plant-based oil enriched with omega-3 for human nutrition and dietary supplement applications. Meanwhile, some firms are expanding krill-oil capacity by introducing new harvesting vessels. Governments in developing regions are contributing through research funding and innovation alliances, further bolstering industry growth potential.

Key Companies

• Aker Biomarine Antarctic AS
• Orkla Health
• BASF SE
• Omega Protein Corp.
• GC Reiber Oils
• Lonza
• Croda International Plc
• EPAX
• BioProcess Algae, LLC
• Koninklijke DSM N.V.

Conclusion

In summary, the global omega-3 market is on a robust growth trajectory, rising from USD 2.62 billion in 2023 to a projected USD 4.45 billion by 2030 at a CAGR of about 7.9 %. The dominance of DHA in the type segment, marine sources in the sourcing category, and supplements & functional foods as the principal application underscore current market dynamics. North America leads regionally, while plant-based and alternative sources are gaining momentum as sustainability and vegan/vegetarian dietary preferences grow. The market is shaped by an intensifying focus on health and nutrition, alongside strategic moves by major players to invest in capacity, technology and novel sources. As awareness of the health benefits of omega-3 fatty acids continues to grow, the industry is well positioned for steady expansion across applications, geographies and source types.

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