U.S., Mexico & Japan Omega-3 Market Worth $1.54 Billion By 2027

The U.S., Mexico and Japan omega-3 market size is expected to reach USD 1.54 billion by 2027, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.5% from 2020 to 2027. Increasing awareness regarding the significance of functional foods fortified with omega-3 on account of their ability to reduce the risk of cholesterol diseases and provide optimal health is expected to drive the market.

Omega-3 is gaining high traction on account of its ability to offer healthy skin and reduce heart-related diseases. The young population across the U.S. and Japan is spending significant amounts on nutraceutical and healthy food products to get better skin and hair, which is likely to promote the demand for omega-3 supplements over the projected period.

Impacts of COVID-19 in North America, especially in the U.S., have been imminent, which has mobilized the region’s interest in omega-3 infused nutraceutical and functional foods, which is anticipated to drive the market. The consumers have become more aware of their wellness post the COVID-19 pandemic, which is likely to have a positive impact on market growth.

High approval rates of omega-3 based nutraceutical products from government agencies due to numerous proven experimental tests drive the manufacturers’ confidence. Improved functionality due to the advancement of production technologies, along with attractive packaging and marketing strategies adopted by the companies, is likely to enhance the product demand in the coming years.

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U.S., Mexico & Japan Omega-3 Market Report Highlights

• In 2019, the U.S. omega-3 market held the largest revenue share and is likely to witness significant growth over the projected period on account of high consumer spending on the healthcare and personal care application segments
• The Japanese omega-3 market is expected to expand at the fastest revenue-based CAGR of 8.4% from 2020 to 2027 on account of the rising demand for skincare and hair care supplements among the young population in the country
• The marine source segment dominated the market in 2019 on account of abundant raw material availability and high concentration of omega-3 fatty acid content in various fishes and sea animals
• The demand for Docosahexaenoic Acid (DHA) is expected to grow at a significant rate on account of its ability to treat type 2 diabetes, coronary arterial diseases, Attention Deficit Hyperactive Disorder (ADHD), and dementia
• The industry players are likely to invest in R&D for plant-based omega-3 supplements to target the increasing vegan population and mitigate the impacts of fishing on the environment

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U.S., Mexico & Japan Omega-3 Market Segmentation

Grand View Research has segmented the U.S., Mexico and Japan omega-3 market on the basis of type, source, application, and region:

U.S., Mexico & Japan Omega-3 Type Outlook (Volume, Tons; Revenue, USD Million, 2016 - 2027)

• Docosahexaenoic Acid (DHA)
• Eicosapentaenoic Acid (EPA)
• Alpha-linolenic Acid (ALA)

U.S., Mexico & Japan Omega-3 Source Outlook (Volume, Tons; Revenue, USD Million, 2016 - 2027)

• Marine Source
• Plant Source

U.S., Mexico & Japan Omega-3 Application Outlook (Volume, Tons; Revenue, USD Million, 2016 - 2027)

• Supplement & Functional Foods
• Pharmaceuticals
• Infant Formulas
• Pet & Animal Feed
• Others

U.S., Mexico & Japan Omega-3 Regional Outlook (Volume, Tons; Revenue, USD Million, 2016 - 2027)

• North America
• U.S.
• Mexico
• Asia Pacific
• Japan

List of Key Players of U.S., Mexico & Japan Omega-3 Market

• Aker Biomarine
• Orkla Health
• BASF SE
• Omega Protein Corporation
• BioProcess Algae

About Grand View Research        

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more info visit @ https://www.grandviewresearch.com