Global omega 3 supplement market was valued at USD 5.58 Billion in 2020. It is expected to grow at an 8.6% compound annual growth rate (CAGR), between 2020 and 2028. The rising incidence of chronic diseases and sedentary lifestyles has led to a growing demand for omega-3 fatty acids. The risk of sudden death from arrhythmias or abnormal heartbeats can be reduced by omega-3 fatty acid. It reduces triglyceride levels and slows down the growth of atherosclerotic bone. Consumers are shifting towards healthier options and adopting preventive medicine as a tool to improve their lives. Omega 3 supplements are becoming more popular because they provide a wealth of vitamins, minerals, and proteins that can help with diseases such as depression, cancer, asthma, and other conditions.
The U.S. was the dominant North American regional market, accounting for a 77.7% of North America's revenue in 2020. The American Heart Association (AHA), recommends that fish be consumed to ensure optimal omega-3 levels. The market is growing because of the increased consumer awareness about the benefits of the products. Rapid socio-economic growth has led to an increase in heart disease, cancer, and diabetes among various segments of society. Consumers are more aware of their health and prefer dietary supplements like omega 3. Omega 3 promotes heart health, prevents cancer, and helps to maintain optimal health for infants.
Consumers' buying decisions are influenced by brand name, nutritional value, safety, and quality of products. The benefits of omega-3-based supplements are also known through print and electronic media. This may influence purchasing behavior. In developing countries, there will be an increase in fish consumption. Omega 3 supplements are mainly made from fish oil. Market growth is impeded by the inequal capture of fish and rising demand for fish oil from other sources.
Customers have shifted their focus to preventive rather than reactive measures due to the coronavirus pandemic. Customers are placing greater importance on their immune system, heart health, overall well-being, and overall health. The AHA states that stroke survivors and people with heart disease, such as high blood pressure or congenital heart defects may be at greater risk for complications if they are infected with COVID-19. This led to a rise in demand for supplements that can reduce the risk of developing heart failure and a positive impact on product sales.
The market leader in fish oil-based supplements was more than 63.1% of global revenue in 2020. Omega-3 supplement manufacturers are able to offer diverse products due to the availability of different types of fish that contain different vitamins. The increasing environmental, metal and hazardous pollutants found in fish make them unsafe for use, which will limit the growth of this segment.
The industry's raw material supply will be affected by increasing regulations regarding fishing to protect fish species. Alga oil-based supplements will be in demand due to rising consumer preference for plant-based products. The segment is also expected to grow due to the increasing awareness of the benefits of the products by the consumer.
Soft gels dominated the form segment, with a 41.3% share in the global market for 2020. Soft gels are an oral dosage form. They consist of a gelatin-based shell and a liquid fill. Soft gels are more convenient than capsules and tablets because they don't have an unpleasant smell and tasteless. Soft gels offer enhanced absorption and bioavailability, faster disintegration, immediate nutrition delivery and quicker action. Soft gels can easily deliver supplements made from fish oil, without causing bad taste or odor.
Soft gels are also available in form, which includes other nutritional supplements such as vitamin A, D3, and E, carotenoids, and omega-3 fat acids. Soft gels are expected to see significant growth due to their smooth texture, taste masking abilities and ease of use. Capsules can be shells or containers that contain gelatin with powder or other spheroid-form drugs. Capsules can also be made from plant-derived casing materials, such as hydroxypropylmethylcellulose and polysaccharide mat.
Due to growing demand for plant-based casing materials, there will be a significant increase in demand. Gummies are chewable forms of omega-3 supplements with added nutrients. They are similar to candies. Gummies were originally designed for children and adults who don't want to swallow pills, but they became very popular with other users due to their ease of use and visual appeal. The gummy version of the product comes in many flavors.
The market was led by cardiovascular health, which accounted for 37.4% of global revenue in 2020. Omega-3 fatty acids are helpful in preventing cardiovascular disease. They stabilize the heart rhythms and help lower blood pressure. These health benefits will drive product demand in this segment of cardiovascular health. According to the AHA, more than 17.3 million people will die each year from Cardiovascular Diseases (CVDs). Additionally, North Americans, particularly in the U.S., have higher levels of cholesterol and high blood pressure of around 43.0% and 33.0%, respectively.
This trend will drive product demand for treatment of hypertension, coronary heart disease, and cholesterol. Over the forecast period, the brain, nervous system and mental health segments will experience the second fastest CAGR. Epilepsy is a serious health problem that affects approximately 50 million people around the world, according to WHO. In the United States, epilepsy affected 322 million people in 2019.
According to the Centers for Disease Control and Prevention (CDC), 3 million adults were affected by epilepsy in 2018. The Anxiety and Depression Society of America estimates that 18.1% of Americans suffer from anxiety disorders each year. In the next few years, the demand for omega-3 supplements will increase due to the high number of mental disorders in the United States.
Market leader, the Over-The-Counter (OTC), distribution channel segment accounted for 75.9% of global revenue in 2020. The OTC channel will see the popularity and expansion of omega 3 supplements due to favorable policies being implemented by most countries.
The changing consumer preferences are driving key players in the industry. OTC channels will see steady growth in product sales due to increasing consumer awareness about the nutritional value of these products and their health benefits. OTC distribution channels are another important factor in driving demand for dietary supplements.
Product manufacturers will have many opportunities due to the cost-efficiency and convenience of direct purchasing. Product sales will be boosted by strict regulations from the governing bodies, as well as less awareness among the public. The segment's growth is also expected to be boosted by increased R&D spending and funding from both the public sector and the private sector.
In 2020, the adult end-user segment was responsible for 43% of all revenue. The segment is expected to continue to grow in popularity of omega-3 supplements among working people to support a healthy lifestyle. Over the forecast period, the demand for products will rise due to the increasing popularity of different sports and athletes.
Children segment is expected to see significant growth due to their increasing desire to maintain optimal health, as well as high purchasing power and willingness spend on wellness and health products. The segment will also benefit from growing concerns regarding eye health in children over the next few years.
Geriatric consumers are more likely to develop lifestyle diseases such as dementia, Alzheimer's, and diabetes. This is because they depend on health supplements for their disease management. Geriatrics are expected to continue their trend towards preventive healthcare, which will fuel segment growth.
North America was the dominant market, accounting for 37.7% of global revenue in 2020. Due to unhealthy eating habits and the availability of Ready-To-Eat foods (RTE), there have been an increase in obesity cases and lifestyle-related illnesses. According to the March 2019 research by the New York State Government, approximately 610,000 Americans die each year from heart disease.
As Coronary Heart Disease (CHD), a leading cause of death in North America, is one of the main applications of omega 3 supplements, cardiovascular health is also one of its primary segments. Functional foods and supplements have evolved from the 'transitioning' face of food to offer many health benefits that go beyond basic nutrition.
Products such as fortified foods or dietary supplements rich in omega fatty acid are likely to be highly sought after on the local market. Asia Pacific is expected to experience significant growth due to the increasing expenditure on health-enhancing goods as a result of increased sports activities. The growth is also due to an increase in mal-digestion cases and a growing geriatric population.
The Indian market will also grow due to the increasing prevalence of lifestyle diseases such as diabetes, high blood pressure, obesity, heart disease, and other problems. Another factor driving product demand is the growing awareness of living an active lifestyle. The country's urban population is increasing their use of dietary supplements. This will increase the product demand.
This industry is fragmented and is characterised by intense competition. Both public and private market players are focused on innovation to remain competitive. The industry's public companies are active in promoting their products on the international market. To increase their market share, key players invest heavily in research and development. Aker BioMarine opened a new distribution center in Chennai, India, in October 2020. This new distribution hub is expected to improve the company's position in India. These are some of the most prominent players in global omega 3 supplement market:
Nordic Naturals, Inc.
Reckitt Benckiser Group plc
Pharma Nord B.V.
Aker BioMarine AS
Luhua Biomarine (Shandong) Co., Ltd.
KD Pharma Group
Optimum Nutrition, Inc.
Vital Choice Wild Seafood & Organics SPC
The Nature's Bounty Co.
Up Market Research published a new report titled “Omega 3 Supplements Market research report which is segmented by End User (Adults, Infants), by Form (Soft Gels, Capsules), by Source (Fish, Krill Oil), By Players/Companies Aker BioMarine AS, Nordic Naturals Inc, NutriGold Inc, Vital Choice Wild Seafood & Organics SPC, Bionova, GlaxoSmithKline plc, Carlson Laboratories, NOW Foods, Reckitt Benckiser Group plc, Luhua Biomarine (Shandong) Co Ltd, i-Health Inc, Optimum Nutrition Inc, OmegaBrite, Pharma Nord BV, VAYA Pharma, Natrol LLC, The Natureâ€™s Bounty Co, Pharmavite LLC, KD Pharma Group, Arkopharma”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
|Report Attributes||Report Details|
|Report Title||Omega 3 Supplements Market Research Report|
|By End User||Adults, Infants|
|By Form||Soft Gels, Capsules|
|By Source||Fish, Krill Oil|
|By Companies||Aker BioMarine AS, Nordic Naturals Inc, NutriGold Inc, Vital Choice Wild Seafood & Organics SPC, Bionova, GlaxoSmithKline plc, Carlson Laboratories, NOW Foods, Reckitt Benckiser Group plc, Luhua Biomarine (Shandong) Co Ltd, i-Health Inc, Optimum Nutrition Inc, OmegaBrite, Pharma Nord BV, VAYA Pharma, Natrol LLC, The Natureâ€™s Bounty Co, Pharmavite LLC, KD Pharma Group, Arkopharma|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||215|
|Number of Tables & Figures||151|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by End User (Adults, Infants), by Form (Soft Gels, Capsules), by Source (Fish, Krill Oil).
Omega 3 Supplements Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Omega 3 Supplements Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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