Canada Omega-3 Products Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Functional Food, Dietary Supplements, Infant Nutrition, Pet Food & Feed, and Pharmaceutical), By Source (Plant-based and Animal-based), and Canada Omega-3 Products Market Insights, Industry Trend, Forecasts to 2033

Canada Omega-3 Products Market Insights Forecasts to 2033

• The Canada Omega-3 Products Market Size is Growing at a CAGR of 6.1% from 2023 to 2033
• The Canada Omega-3 Products Market Size is Expected to Hold a Significant Share by 2033

The Canada Omega-3 Products Market Size is Anticipated to Hold a Significant Share by 2033, growing at a CAGR of 6.1% from 2023 to 2033.

Market Overview

Producing, distributing, and consuming omega-3 fatty acids nutritive compounds found in foods like fish, seeds, and some oils is the focus of the Canada omega-3 products business. Their potential health benefits, which include preserving heart health, improving cognitive function, and reducing inflammation, are widely recognized. They can be found in a variety of forms, such as supplements, fortified foods, and beverages. Growing consumer awareness of the health benefits of omega-3 fatty acids is one of the main factors propelling the growth of the Canada omega-3 products market. Products that support heart health, brain function, and general well-being are in greater demand as more Canadians become health-conscious. Additionally, the market is expanding due to the growing demand for marine and plant-based sources of Omega-3, such as fish and algae oils, which give consumers a variety of options based on their dietary requirements. The Canada omega-3 products market has seen significant growth due to government efforts, with Health Canada supporting nutritional standards and policies promoting the use of Omega-3 fatty acids. The government's approval of supplementation for health ailments like cardiovascular diseases has made these products more accessible. The market is expected to continue growing due to consumer preference for functional and preventive health products.

Report Coverage

This research report categorizes the market for the Canada omega-3 products market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Canada omega-3 products market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Canada omega-3 products market.

Driving Factors

Growing consumer knowledge of the numerous health advantages of omega-3 fatty acids is one of the key factors propelling the expansion of the Canadian market for omega-3 products. Growing health consciousness among Canadians has led to a search for products that improve heart health, brain function, and reduce inflammation all of which are advantages that Omega-3 products offer. Demand has been further fueled by the rising incidence of chronic illnesses such as mental and cardiovascular disorders, which has also prompted more people to look for preventative measures. The popularity of plant-based sources of Omega-3, such as algae oil, has increased due to the trend toward plant-based diets, which has opened up the market to a larger demographic.

Restraining Factors

The market for Omega-3 supplements and fortified foods faces limiting factors such as high prices, fish oil's unpleasant taste, and limited consumer information about different sources. These issues may hinder mass market take-up and hinder market growth despite increasing awareness of their health benefits.

Market Segmentation

The Canada omega-3 products market share is classified into product type and source.

• The dietary supplements segment accounted for the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period.

The Canada omega-3 products market is segmented by product type into functional food, dietary supplements, infant nutrition, pet food & feed, and pharmaceutical. Among these, the dietary supplements segment accounted for the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period. This is mainly because consumers have become increasingly aware of the health advantages of Omega-3 fatty acids, including heart health, cognitive performance, and reducing inflammation. Omega-3 products, particularly in capsule, oil, and soft gel forms, are easily found and utilized by people looking to enhance or keep their general well-being.

• The animal-based segment accounted for the highest share in 2023 and is expected to grow at a significant CAGR during the forecast period.

Based on the source, the Canada omega-3 products market is divided into plant-based and animal-based Among these, the animal-based segment accounted for the highest share in 2023 and is expected to grow at a significant CAGR during the forecast period. The widespread consumption of fish oil, a rich source of Omega-3 fatty acids, is the primary source of these nutrients in Canada. Fish oil supplements, derived from fatty fish like salmon, mackerel, and sardines, are known for their health benefits, including cardiovascular health and brain function.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Canada omega-3 products market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• DSM Nutritional Products
• Bioriginal Food & Science Corporation
• Omega Protein Corporation
• Algarithm Ingredients
• CanolaCO
• Krill Oil Canada
• Natural Factors
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In December 2024, the Natural and Non-prescription Health Products Directorate (NNHPD) of Health Canada has approved Nufarm's Nutriterra® Total Omega-3, a plant-based canola oil high in DHA, EPA, and ALA, for use in dietary supplements. This innovative oil promotes heart and brain health and provides a sustainable substitute for Omega-3 sources derived from marine sources.

Market Segment

This study forecasts revenue at Canada, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Canada omega-3 products market based on the below-mentioned segments:

Canada Omega-3 Products Market, By Product Type

• Functional Food
• Dietary Supplements
• Infant Nutrition
• Pet Food & Feed
• Pharmaceutical

Canada Omega-3 Products Market, By Source

• Plant-based
• Animal-based