Middle East and Africa Omega-3 Supplements Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Form (Capsules, Soft Gels, and Others), Source (Fish Oil, Krill Oil, Algae Oil, and Others), and Distribution Channel (Supermarkets and Hypermark

Middle East and Africa Omega-3 Supplements Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Form (Capsules, Soft Gels, and Others), Source (Fish Oil, Krill Oil, Algae Oil, and Others), and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others)

The omega-3 supplements market in Middle East & Africa is expected to grow from US$ 3,782.63 million in 2021 to US$ 2,027.53 million by 2028; it is estimated to grow at a CAGR of 9.3% from 2021 to 2028. In recent years, the omega-3 supplements market has experienced various technological advancements. Companies continuously engage in new product developments. They are conducting R&D activities to improve their existing products by modifying sources or introducing new product forms. Currently, capsules and soft gels are among the most popular forms in which omega-3 supplements are being offered. However, to cater to the changing tastes and preferences of customers, companies are focusing on introducing omega- 3 in new forms such as powders, candies, and gummies. Candies and gummies are gaining popularity among consumers due to enhanced taste and texture compared to fish oil supplements. Further, companies are also exploring the replacement of traditional sources such as algae and fish oil with new sources such as chia seeds, flax seeds, and walnuts, along with other plant-based sources. Depleting marine sources and increasing consumer inclination toward veganism have encouraged manufacturers to discover alternative sources. For instance, in October 2018, Cargill introduced “Latitude,” a plant-based sustainable alternative source of Omega 3 for fish feed applications. Moreover, in June 2021, Polaris introduced Omegavie DHA 800 oil derived from the microalgae Schizochytrium sp. The oil has a high DHA concentration of ~800 mg/g, which can be utilized to make vegan DHA capsules or tablets. Thus, product innovation efforts are creating lucrative growth opportunities for the omega 3 supplements market players.

Turkey, South Africa, Iraq, and Israel are among the major countries in the Middle East & Africa, which have reported a high number of COVID-19 cases. According to the International Finance Corporation, the COVID -19 pandemic has had a severe impact on the economy in this region, which has led to a decline in oil production, tourism, and remittances. The quarantine measures implemented for sanitary purposes in the region have led to disruptions in several activities across diverse economic sectors. The MEA comprises many growing economies, which are prospective markets for omega 3 supplements vendors. The pandemic has significantly propelled the growth of the omega 3 supplements market in the region on the back of health benefits associated with these products.

The Middle East & Africa omega-3 supplements market is segmented on the basis of form, source, and distribution channel. Based on source, the market is segmented into fish oil, krill oil, algae oil, and others. The market for the krill oil segment is expected to grow at the fastest rate during the forecast period. Krill oil has emerged as another omega-3 supplement source rich in the long-chain PUFAs eicosapentaenoic acid and docosahexaenoic acid and is a sustainable source of omega-3 polyunsaturated fatty acids. The oil is obtained from the krill species called Antarctic Euphausia Superba. Like fish oil, krill oil provides various health advantages related to women's health, such as cardiovascular disease (CVD) prevention, anti?inflammatory effects, neuroprotection, and anticancer activities. Therefore, the health benefits associated with krill oil are expected to bolster the demand for krill oil as omega-3 supplement during the forecast period.

The Middle East & Africa omega-3 supplements market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the Middle East & Africa omega-3 supplements market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data as well as to gain more analytical insights into the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the Middle East & Africa omega-3 supplements market. Church & Dwight, Inc.; NOW Foods; Nordic Naturals; Reckitt Benckiser Group plc.; Pharma Nord B.V.; and Epion Brands are among the leading companies in the market.

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