Omega 3 Supplements Market to Grow at 8.6% CAGR During the Forecast Period 2022-2028

Posted on 2022-11-17 by researchinsights in Healthcare // 0 Comments

San Francisco, California , USA, Nov 17, 2022 — /EPR Network/ —

Omega 3 Supplements Industry Overview

The global Omega 3 Supplements Market size is expected to reach USD 10.80 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 8.6% from 2020 to 2028. The demand for omega-3 supplements is projected to be driven by the growing adoption of the product to fulfill the daily nutritional requirements and maintain optimum health of organs by the geriatric population in developed economies, such as the U.S., Canada, the U.K., and France.

Furthermore, the outbreak of COVID-19 from the beginning of 2020 led to increased consumer awareness regarding the significance of immunity and immunity-boosting products, which is expected to fuel the demand for various omega fatty acids products. Increasing incorporation of products in gummies form with novel flavor is expected to increase product penetration among children in the coming years.

Docosahexaenoic acid (DHA) is an omega-3 fatty acid comprising over 93.0% of omega-3 fats in the retina and 97.0% in the human brain. Rising demand for DHA supplements for pregnant ladies owing to lack of adequate DHA in the diet is expected to drive the market. Additionally, increasing demand for omega-3 DHA-rich supplements from non-lactating mothers is expected to propel the product demand over the forecast period.

Omega 3 Supplements Market Segmentation

Grand View Research has segmented the global omega 3 supplements market on the basis of source, form, functionality, end-user, distribution channel, and region:

Based on the Source Insights, the market is segmented into Fish Oil, Krill Oil, Algae Oil and Others.

Fish oil-based supplements led the market and accounted for more than 63.1% share of the global revenue in 2020. The availability of various types of fish, which contain different vitamins, is propelling omega-3 supplement manufacturers to offer diversified products.
The rising consumer inclination towards plant-based alternatives is expected to drive the demand for algae oil-based supplements. Moreover, the growing vegan population, coupled with rising consumer awareness regarding the product benefits, is expected to boost the segment growth.

Based on the Form Insights, the market is segmented into Tablets, Capsules, Soft Gels and Others.

Soft gels led the form segment with a share of 41.3% in the global market in 2020. Soft gels are an oral dosage form that consists of a gelatin-based shell surrounding a liquid fill. Soft gels are easier to swallow as compared to tablets and capsules as they do not have an unpleasant odor and are tasteless.
Plant-based casing materials are expected to witness a considerable demand due to the growing vegan population across the globe. Gummies, similar to candies, are a chewable form of omega-3 supplements that are enriched with nutrients.

Based on the Functionality Insights, the market is segmented into Cardiovascular Health, Brain, Nervous System & Mental Health, Eye Diseases, Diabetes and Others.

Cardiovascular health led the market and accounted for a 37.4% share of the global revenue in 2020. Concerning cardiovascular disease prevention, omega-3 fatty acids help maintain HDL cholesterol, stabilize heart rhythms, reduce harmful LDL cholesterol, and lower blood pressure.

Based on the End-User Insights, the market is segmented into Adults, Geriatric, Pregnant Women, Children and Infants.

The adult end-user segment accounted for the highest revenue share of over 43% in 2020. Growing consumption of omega 3 supplements among working individuals to maintain a healthy lifestyle is projected to remain a key driving factor for the segment.
The children segment is expected to witness significant growth owing to the increasing inclination towards maintaining optimal health along with high purchasing power and willingness to spend on health and wellness products.

Based on the Distribution Channel Insights, the market is segmented into OTC and Prescribed.

The Over-The-Counter (OTC) distribution channel segment led the market and accounted for a 75.9% share of the global revenue in 2020. Initiatives related to the introduction of favorable policies, along with the infrastructural development in the healthcare sector by most governments worldwide, are projected to influence the expansion and popularity of omega 3 supplements through the OTC channel.

Omega 3 Supplements Regional Outlook

North America
Europe
Asia Pacific
Central & South America
Middle East & Africa (MEA)

Key Companies Profile

The industry is highly fragmented and is characterized by intense competition, with both public and privately-held market players focusing on innovation to stay competitive. Public companies in the industry are proactive in initiating strategies to push the adoption of their products in the global market.

Some prominent players in the global Omega 3 Supplements market include

Nordic Naturals, Inc.
NutriGold Inc.
Reckitt Benckiser Group plc
Pharma Nord B.V
i-Health, Inc.
Aker BioMarine AS
Luhua Biomarine (Shandong) Co., Ltd.
Pharmavite LLC
KD Pharma Group
NOW Foods
GlaxoSmithKline plc
Natrol LLC
Carlson Laboratories
OmegaBrite
Optimum Nutrition, Inc.
VAYA Pharma
Vital Choice Wild Seafood & Organics, SPC
Bionova
The Nature’s Bounty Co.
Arkopharma

Order a free sample PDF of the Omega 3 Supplements Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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