Global Omega-3 Supplements Market - 2022-2029

Global Omega-3 Supplements Market - 2022-2029

Market Overview

The global omega-3 supplements market was valued at USD XX million in 2021. It is forecasted to reach USD XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).

A dietary supplement containing omega 3 fatty acids are known as an omega 3 supplements. The supplement has a lot of health benefits and is available in a variety of forms, including tablets, capsules, and pills. Omega-3 fatty acids can be found in a variety of foods, including fish and flaxseed, and nutritional supplements like fish oil. Alpha-linolenic acid (ALA), eicosapentaenoic acid (EPA), and docosahexaenoic acid (DHA) are the three primary omega-3 fatty acids (DHA). DHA and EPA are found in fish and other seafood, while alpha-linolenic acid (ALA) is found in plant oils such as soybean, flaxseed, and canola. Omega-3 fatty acids play a crucial role in the human body because they are important components of the membranes that surround each cell. They also serve as a source of calories, providing energy to the body and aiding in various biological activities.

Market Dynamics:

Growing health concerns and chronic disease cases to boost the omega 3 supplements industry's growth

The global omega 3 supplements industry is fueled by rising consumer health awareness, which has increased demand for nutritional supplements worldwide. Furthermore, the rising frequency of chronic conditions such as strokes, arthritis, cancer, and coronary heart disease, particularly among the elderly and adults, is helping the market. Because of the increased cases of age-related macular degeneration (AMD), which can worsen after 60, the elderly population is expected to account for a considerable share of end consumers. Omega 3 supplements can successfully treat AMD, which is expected to drive demand for the product in the forecast future. Omega-3 is extremely beneficial in treating numerous health conditions such as menstruation health, depression, mental health, and bone loss. Furthermore, increased awareness of omega-3's health advantages, use in pet food and feed, a greater focus on preventative healthcare, expansion in food processing applications, and rising healthcare expenditure all boost the omega-3 industry. Moreover, in the forecast period, innovative production technologies, the development of alternative sources of omega-3, microencapsulation, growing awareness of certified food ingredients, a favorable regulatory environment, and rising consumer demand for plant-based products provide profitable opportunities for omega-3 supplements market players.

Market Segmentation:

Due to the availability of a significant number of vitamins and minerals, fish oil-based supplements dominated the market

Fish oil-based supplements dominated the market in 2021, accounting for more than XX percent of worldwide revenue. Omega-3 supplement makers are responding to the availability of numerous varieties of fish, each of which contains different vitamins, by offering a variety of products. This is due to the numerous advantages that fish oil provides. Regularly using fish oil supplements can lower blood triglycerides, reduce inflammation, and aid in the treatment of a variety of issues, including infertility. The population explosion is expected to drive demand for fish oil, which includes concentrated omega-3 fatty acids, over the predicted period.

Based on functionality outlook, cardiovascular health dominated the market in 2021, accounting for XX percent of worldwide sales. The omega-3 fatty acids aid in the maintenance of HDL cholesterol, the stabilization of cardiac rhythms, the reduction of dangerous LDL cholesterol, and the reduction of blood pressure in the prevention of cardiovascular disease. These health benefits are projected to fuel demand for cardiovascular health products. According to the American Heart Association, approximately 17.3 million people will die each year from cardiovascular diseases in 2020. (CVDs)

Geographical Penetration:

North-America is expected to be the fastest growing region during the forecast period

In 2021, North America dominated the market, accounting for XX percent of worldwide sales. Obesity and lifestyle-related disorders are on the rise due to poor eating habits and the availability of a variety of processed and ready-to-eat (RTE) foods. According to a study done by the New York State Government in March 2019, around 610,000 people in the United States die each year from heart disease. Coronary Heart Disease (CHD) is a leading cause of death among both men and women in North America, making cardiovascular health one of the most important applications of omega 3 supplements. Food's 'transitioning face' has evolved into functional foods and supplements that can give a variety of health benefits and basic nutrition. As a result, products containing omega fatty acids, such as fortified meals and dietary supplements, are projected to be in high demand in the regional market.

Due to increased sports activities, Asia Pacific is expected to see considerable growth due to rising expenditure on health-enhancing items. Increased occurrences of malnutrition and a growing senior population are also contributing to the growth. Furthermore, the increased prevalence of lifestyle disorders in India, such as diabetes, high blood pressure, obesity, and cardiovascular problems, would drive regional market expansion. Another element boosting product demand is a growing awareness of the benefits of living an active lifestyle. Dietary supplements are becoming more popular among the country's urban population, who have a lot of disposable income, which will drive up demand.

Competitive Landscape:

The sector is highly fragmented and competitive, with both publicly traded and privately held market players relying on innovation to stay competitive. Public enterprises in the industry are developing strategies to encourage the global adoption of their products. To get a larger share of the market, key companies are heavily investing in research and development efforts and capacity growth. For example, Aker BioMarine received a patent in October 2019 for concentrated krill oils containing more than 50% phospholipids. Aker BioMarine will open a new distribution hub in Chennai, India, in October 2020. The company's position in India is projected to be strengthened by the new distribution hub.

COVID-19 Impact:

Positive impact on the global omega-3 supplements market.

Customers' attention has moved from reaction to prevention due to the coronavirus outbreak. Immune health, heart health, and overall well-being are becoming increasingly important to consumers. According to the American Heart Association, if infected with COVID-19, stroke survivors and people with cardiac problems such as high blood pressure and congenital heart defects may have an increased risk of consequences. As a result, demand for supplements to reduce the risk of heart failure grew, positively boosting product sales across the globe.

Why Purchase the Report?

Understand the current market scenario and viability of global omega-3 supplements market

Visualize the composition of the global omega-3 supplements market in terms of sources form, end-user, functionality and distribution channel to identify major players, growth potential, and market strategies

Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period

Understand the key business factors such as market competition, product pricing, new product developments, and patent filings pertaining in the market

What we offer?

PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study

Excel data sheet with valuable data points of the global omega-3 supplements market – Regional and Country level segmentation

Product mapping in excel for the key products of all major market players

Market Share Analysis covering business revenues ($) and revenue share (%) of key market players

The global omega-3 supplements market report would provide an access to approximately 77 market data tables, 80 figures and 200 pages

Target Audience:

Food and Beverage Companies

Dietary Supplements Manufacturers

Raw Materials Providers

Industry Investors

Education & Research Institutes

Research Professionals