Covina, March 09, 2023 (GLOBE NEWSWIRE) -- Omega 3 Supplements, or omega-3 fatty acids aid to decrease the risk of abnormal heartbeats or arrhythmias, which can cause sudden death of the patient. Omega 3 supplements also helps in reducing triglyceride levels, slowing the growth rate of atherosclerotic plaque and lowering blood pressure levels. Consumers are increasingly shifting to healthier alternatives while adopting preventive care for better lifestyle. Further, due to rich source of vitamins, minerals, proteins, and render benefits of disease such as asthma, cancer, depression and others are expected to foster the omega 3 supplement market.
Drivers and Restraints:
Growing awareness regarding healthy lifestyle, weight loss, and balanced diet are the key factors driving the target market. In addition, surging demand for dietary supplements is also a factor fuelling the target market. Moreover, rising consciousness regarding importance of omega 3 supplements owing to high prevalence of heart diseases and obesity expected to drive demand for omega 3 supplements in near future. However, rising competition between the manufacturers is a factor restraining the growth of the global market.
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Key Development:
- In August 2022 – BrainMD Health, a leader in premium-quality, science-based nutraceuticals, brings to market the first ever ultra-high triglyceride – from EPA/DHA vegan omega-3 supplement.
- In August 2022 – Vital Nutrients, a leading practitioner founded nutritional supplement company dedicated to making a positive impact on the health of people and the planet, announced the launch of its latest innovative formulation, Ultra Pure Vegan Omega SPM .
Segmentation:
The Omega 3 Supplements Market accounted for US$ 5.6 billion in 2020 and is estimated to be US$ 12.58 billion by 2030 and is anticipated to register a CAGR of 8.5%. The global Omega 3 Supplements Market is segmented based on source, application and region.
- On the basis of source, the global Omega 3 Supplements Market is segmented into Fish Oil, Krill Oil, and Others.
- On the basis of application, the global Omega 3 Supplements Market is segmented into Infant Formula, Food and Beverage, Nutritional Supplements, Pharmaceuticals, Pet and Animal Feed, and Clinical Nutrition.
- On the basis of region, the global Omega 3 Supplements Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Region Analysis:
| Regional scope | North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
North America holds the significant share in 2018 and is predicted to hold conserving a big proportion over the forecasted period owing to the growing consumer knowledge, regarding the product benefits. Further, The American Heart Association (AHA) recommends the consumption of fish to maintain optimum omega 3 levels in the diet.
Increased cases of obesity and lifestyle related diseases is also expected to foster the omega 3 supplements market over the forecast period. Further, Asia Pacific region is anticipated to witness significant growth on account of the rising healthcare expenditure.
Competitive Analysis:
The key players operating in the global Omega 3 Supplements Market includes
- Nordic Naturals Inc.
- Now Foods
- Nutrigold Inc.
- Reckitt Benckiser Group PLC
- Pharma Nord B.V.
- I Health Inc.
- Green Pasture Products, Inc.
- Aker BioMarine AS
- Luhua Biomarine,
- Pharmavite LLC.
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Omega 3 Supplements Market key hightails:
- Rising awareness about the benefits of Omega 3 supplements: With increasing health awareness among consumers, there has been a growing demand for Omega 3 supplements, which are known to provide a range of health benefits.
- Growing incidence of chronic diseases: Omega 3 supplements are believed to be beneficial in the prevention and management of chronic diseases such as heart disease, diabetes, and certain types of cancer. With a rise in the incidence of these diseases, the demand for Omega 3 supplements has also increased.
- Increasing popularity of plant-based Omega 3 supplements: While Omega 3 supplements are traditionally sourced from fish oil, there has been a growing demand for plant-based alternatives, such as supplements made from algae oil or flaxseed oil.
- Strong growth in the Asia-Pacific region: The Asia-Pacific region has emerged as a key market for Omega 3 supplements, with countries such as China and India seeing strong growth in demand.
- Consolidation in the market: The Omega 3 supplements market has seen some consolidation in recent years, with larger companies acquiring smaller players to expand their product portfolios and geographic reach.
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1. EPA and DHA Market: By Type (Eicosapentaenoic Acid (EPA), and Docosahexaenoic Acid (DHA)), By Concentration Type (High Concentrated, Medium Concentrated, and Low Concentrated), By Form (Triglycerides, and Ethyl Esters). By Source (Fish Oil, Algae Oil, Krill Oil, and Other Sources), By Application (Infant Formulae, Dietary Supplements, Fortified Food and Beverages, Pharmaceuticals, and Other Applications), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030
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