South East Asia Omega-3 Market Size, Share, Industry, Forecast and outlook (2024-2031)

South East Asia Omega-3 Oil Market is segmented By Source (Feed Source, Food Source, Pharma Source), By Type (ALA (Alpha-Linolenic Acid), DHA (Docosahexaenoic Acid), EPA (Eicosapentaenoic Acid), Others), By Application (Supplements & Functional Foods, Pharmaceuticals, Infant Formula, Animal Feed & Pet Food, Others), By Distribution Channel (Online, Offline) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Report Overview

South East Asia Omega-3 Oil Market reached US$ 157.6 million in 2023 and is expected to reach US$ 290.20 million by 2031, growing with a CAGR of 7.93% during the forecast period 2024-2031.

The omega-3 oil market is experiencing robust growth due to increasing health awareness and rising incidences of chronic diseases such as cardiovascular disorders. Omega-3 oil, particularly EPA (eicosapentaenoic acid) and DHA (docosahexaenoic acid), are essential for heart health and are widely recognized for their potential benefits in reducing inflammation and lowering the risk of chronic diseases.

Increasing health consciousness among consumers is a major driver for the omega-3 oil market. The World Health Organization (WHO) reports that over 14 million people aged 30-70 die annually from chronic diseases, including cardiovascular diseases, which are majorly influenced by dietary habits and lifestyle. As more people become aware of the health benefits associated with omega-3 oil, they are more likely to incorporate these supplements into their diets.

The South East Asia region is emerging as for the global omega-3 oil market, driven by significant developments in fish oil production and increasing consumer demand for health supplements. According to the Fish Oil Producer Association, in 2022-21, Singapore ranks 2nd, Japan 3rd, India 10th, South Korea 14th and China 33rd among the top 46 international fish oil production destinations. This notable presence of several Asia-Pacific countries in the top rankings highlights the region's pivotal role in the South East Asia omega-3 market.

Market Scope

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Market Dynamics

Diverse Product Formats

The omega-3 market is significantly driven by the diverse range of product formats available to consumers. mega-3 supplements are available in different varieties, such as soft gels, gummies, liquid forms and other creative choices. This range serves various consumer tastes and ways of living, boosting the attractiveness and availability of omega-3 products. 

The availability of multiple formats helps address the needs of various demographics, from those seeking convenience in gummies to those preferring the potency of liquid formulations. Companies like Polaris offer customized product solutions to meet individual consumer needs. By offering personalized solutions, manufacturers create products that stand out in a competitive market and appeal to a broad audience.

Increasing Dietary Trends

The growing trend towards health-conscious dietary choices is significantly driving the demand for omega-3 supplements. Consumers are increasingly prioritizing supplements and functional foods that contribute to overall well-being, with omega-3s being recognized as a crucial component of a healthy diet. This shift is particularly relevant given that cardiovascular diseases are the leading cause of death South East Asialy, accounting for 32% of all deaths in 2021, according to the World Health Organization (WHO). The high prevalence of these diseases underscores the importance of dietary interventions like omega-3 supplements.

Media coverage and health blogs play a pivotal role in shaping consumer perceptions and boosting the demand for omega-3 products. Positive information and awareness campaigns highlight the benefits of omega-3s, particularly for heart health, influencing more consumers to incorporate these supplements into their diets. For instance, a survey by the International Food Information Council (IFIC) in 2023 revealed that 70% of American consumers are now aware of the heart health benefits of omega-3 fatty acids, a notable increase from 55% in 2018. This growing awareness and emphasis on health-focused dietary choices are driving the expansion of the omega-3 market.

Threats from Substitutes for the Omega-3 

The omega-3 market faces significant threats from substitute products that can impact its growth. Plant-based options such as algae oil and flaxseed oil are increasingly popular among consumers seeking vegetarian or vegan solutions, which can potentially reduce the demand for traditional fish oil supplements. 

Similarly, Products such as turmeric or krill oil are marketed for their anti-inflammatory properties and cardiovascular benefits, presenting viable alternatives for health-conscious consumers. These substitutes attract a segment of the market that considers omega-3 supplements. Furthermore, advancements in nutrition science and the development of new functional foods could further threaten the omega-3 market. For example, fortified foods or emerging dietary trends that promote heart health through different mechanisms may draw consumer interest away from omega-3 supplements.

Market Segment Analysis

The south east asia omega-3 oil market is segmented based on source, type, application and distribution channel.

Growing Demand for Aquaculture and Nutritional Industry

Animal-based omega-3 oils are witnessing significant demand within the omega-3 oil market, driven by their critical role in animal nutrition and aquaculture. These oils are crucial for enhancing the well-being and development of livestock, poultry and aquaculture species, leading to increased yields and improved quality products. The South East Asia Organization for EPA and DHA Omega-3s reports that there is a rising demand for Animal-based omega-3s because of their ability to improve the nutritional content of animal feed.

The aquaculture industry consumes more than 70% of the South East Asia fish oil, most of which is animal-based omega-3s as stated by the International Fishmeal and Fish Oil Organization (IFFO). There is a predicted steady growth in the market for Animal-based omega-3 oils because of the increasing aquaculture production and emphasis on sustainable practices in the industry. Moreover, the European Feed Manufacturers’ Federation (FEFAC) points out that the need for omega-3s in animal feed is also influenced by regulatory norms and consumer desires for better-quality, nutritionally enhanced animal goods.

Market Competitive Landscape

The major South East Asia players in the market include Thai Union Group PCL, Total Health Concept Sdn Bhd, BOSTON PHARMA VIETNAM, Möller’s, Manuka Biotech Sdn Bhd, ZUCHE PHARMACEUTICALS PVT. LTD, Novus Life Sciences Pvt Ltd, NOW Health Group, Inc., BASF SE, Croda International Plc.

Pricing Analysis

Supply Chain Analysis

Value Chain

Growth Journey and Opportunity

Go-To-Market Strategy

Consumer Analysis

Sustainability Analysis

The importance of sustainability in seafood options is growing, with numerous alternatives showing notable environmental advantages. For instance, cultivated oysters offer an environmentally conscious option because they have little impact on ocean environments. In contrast to conventional fish farming, which can negatively impact wild species and habitats, oyster farming aids in the purification of waterways and the maintenance of local ecosystems. Moreover, oysters provide a rich source of nutrients such as omega-3 fatty acids, zinc and other important vitamins, making them an environmentally friendly option that also promotes overall wellness.

Algae oil supplements offer an additional eco-friendly way to get omega-3s. These supplements provide a plant-based, ocean-friendly option by obtaining omega-3s from marine algae instead of fish. Algae oil is similar to fish oil in terms of how well the body can absorb it and its benefits for cardiovascular health, but it does not contain the cholesterol and toxins typically present in fish oil. This not only makes algae oil an eco-friendlier alternative but also a great choice for vegans and individuals with seafood allergies.

By Source

• Animal-based
  • Fish
  • Oysters
  • Krill
  • Algal
  • Others
• Plant-based
  • Walnut
  • Flaxseed
  • Chia Seed
  • Hemp Seed
  • Others

By Type

• ALA (Alpha-Linolenic Acid)
• DHA (Docosahexaenoic Acid)
• EPA (Eicosapentaenoic Acid)
• Others

By Application

• Supplements & Functional Foods
• Pharmaceuticals
• Infant Formula
• Animal Feed & Pet Food
• Others

By Distribution Channel

• Online
• Offline

Key Developments (Global)

• In 2023, GC Rieber VivoMega launched VivoMega Algae Oils, a new line of high-concentration vegan omega-3 oils derived from microalgae, with a focus on sustainable sourcing from the ocean. The innovative product addresses the growing demand for plant-based omega-3 alternatives and aims to mitigate the supply challenges in the traditional fish oil market, exacerbated by geopolitical tensions and supply chain disruptions.
• In February 2022, Polaris and Golden Omega S.A. announced a strategic alliance to enhance their omega-3 product offerings. Polaris, known for its patented DHA algae oils, will partner with Golden Omega to introduce vegan omega-3 options, complementing Golden Omega’s existing range of omega-3 concentrates derived from anchovies in the South Pacific Ocean. Louis-Marie Martin, VP of Sales & Marketing at Polaris, expressed enthusiasm about the collaboration, highlighting shared values and quality standards.
• In 2021, Pelagia invested US$ 40 million in its subsidiary Epax's facility in Aalesund, marking a significant advancement in the omega-3 market. This investment is set to enhance the facility's capabilities with the implementation of cutting-edge EOP+Tech technology, designed to improve the production of EPA and DHA products.

Why Purchase the Report?

• To visualize the South East Asia omega-3 oil market segmentation based on the source, type, application and distribution channel.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous data points of the South East Asia omega-3 oil market level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The South East Asia omega-3 oil market report would provide approximately 30 tables, 28 figures and 182 pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies