South America 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, Spec

South America 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 South America is expected to grow from US$ 1,589.98 million in 2021 to US$ 2,905.07 million by 2028; it is estimated to grow at a CAGR of 9.0% from 2021 to 2028. Omega 3 fatty acids, such as DHA, are the building blocks of the fetal brain and retina. DHA supports learning and memory retention, and it plays a vital role in the development of eye and nerve tissues. It helps in the formation of a covering on the nerves that ensure optimum signal transmission and is thus needed among consumers of all ages. Low DHA levels may be associated with poor developmental outcomes and neurological disorders. The low levels may also accelerate brain aging and contribute to deficits in brain function. The supplementation of DHA is required for the growth and development of the brain in infants and is necessary to maintain normal brain function in adults. Thus, it is highly recommended to include DHA in their daily diet. However, it is impossible to meet the daily requirements of omega 3 fatty acids from sources such as seafood and vegetable oils; thus, the consumers are moving towards omega 3 supplements. Omega-3 fatty acids are essential for appropriate brain function and development. Fish oil supplements may improve brain function in people with less severe brain illnesses such as moderate cognitive impairment (MCI) or age-related cognitive decline. Hence, pregnant women are advised to take prenatal supplements everyday containing -300 mg of the DHA.

Brazil has been ranked to be the world’s third-most affected economy due to the COVID -19 pandemic. In South America, Brazil has the highest number of COVID -19 cases, followed by Ecuador, Chile, Peru, and Argentina, among others. The governments in South America have taken an array of actions to protect their citizens and combat the spread of SARS-CoV-2 through lockdowns, trade bans, and travel restrictions. This may have a direct impact on the growth of the omega 3 supplements market.

The South America omega-3 supplements market is segmented on the basis of form, source, and distribution channel. Based on distribution channel, the market is segmented into supermarkets and hypermarkets, specialty stores, online stores, and others. The market for the online stores segment is expected to grow at the fastest rate during the forecast period. Online stores have promoted the growth of the omega-3 supplements market, as the online retailing reduces the operation cost of the manufacturers and allows them to reach targeted customers. Consumers opt for online shopping as it saves time, money, and effort for shopping. These portals also provide detailed information about the product, such as product description, user's review, application, and user guide, which helps the buyer compare different products at a glance and choose the product wisely. Features such as 24x7 availability, attractive discounts and offers, convenience, easy access, multiple secure payment options, quick service, and home delivery have attracted consumers to shop online for omega-3 supplements. Increased adoption of internet and smartphone has enabled consumers to explore various e-commerce portals and shop products online. The comfort, availability of a vast array of products, and time management properties of online stores promote the sales of omega-3 supplements.

The South America 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 overview and forecast for the South America 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 South America 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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