Report Id: SNS/HC/1067 | May 2022 | Region: Global | 125 Pages
Report Scope & Overview:
The Omega 3 supplements market was valued USD 6.60 billion in 2022 and is estimated to reach USD 12.96 billion by 2030. From 2023 to 2030 & grow at a CAGR of 8.8%. The increased acceptance of omega-3 supplements to meet daily nutritional requirements and maintain optimum organ health by the older population in industrialized economies such as the United States, Germany, United Kingdom, and France is expected to fuel demand. The worldwide omega-3 supplements market is being driven by rising end-user demand and rising consumer knowledge about healthy eating and the health advantages of omega-3. The sector is made up of two segments: -3 fatty acids and n-3 fatty acids, both of which contribute considerably to the size of the omega 3 fatty acids market. However, high costs and strict regulatory restrictions are likely to stifle industry growth. Furthermore, compared to the saturated markets of North America and Europe, Asia-Pacific is expected to rise significantly.
Due to the low cost of vegetal sources such as vegetable oil, nuts and seeds, and soya products, the market share of omega-3 fish oil is predicted to decline.
Chronic disease awareness is growing.
Increased attention to cognitive development
Lack of consumer understanding of the daily recommended consumption
IMPACT OF COVID-19:
Customers' attention has moved from reaction to prevention as a result of the corona virus outbreak.Consumers are placing a greater emphasis on immune health, heart health, and overall well-being. If infected with COVID-19, stroke survivors and people with cardiac problems such as high blood pressure and congenital heart defects may have an increased risk of consequences, according to the American Heart Association. As a result, demand for supplements to reduce the risk of heart failure grew, positively boosting product sales.
Global omega-3 supplements market is divided into four categories based on type, source, application, and location. The market is divided into three types of omega-3 acids: ALA (alpha-linolenic acid), DHA (docosahexaenoic acid), and EPA (eicosapentaenoic acid) (eicosapentaenoic acid). In 2021, DHA dominated the overall market, accounting for more than three-quarters of revenue, while the ALA and EPA combined accounted for one-fourth of revenue. With a CAGR of 8.8% from 2021 ALA is the fastest rising form of omega-3. Omega-3 is also categorized according to its sources, which include marine, nuts and seeds, vegetable oils, and soy and soy products.
The market is further divided into dietary supplements, medicines, infant formulae, food & drinks, pet food, and fish feed based on Omega-3 uses. The market for Omega-3 supplements is a significant element of the global industry. Pharmaceutical application is growing at a rapid pace with a CAGR of 15% from 2021to2028. The global market is divided into four regions: North America, Europe, Asia-Pacific, and Latin America and the Caribbean. North America is the largest market region, accounting for more than one-third of total revenue in 2020, followed by Asia-Pacific and Europe.
KEY MARKET SEGMENTS:
By Source Type
By Application Type
Key Market Players
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
In 2020, North America dominated the market, accounting for 37.7 percent of worldwide sales. Obesity and lifestyle-related disorders are on the rise as a result of poor eating habits and the widespread availability of processed and ready-to-eat (RTE) foods. According to a study conducted by the New York State Government in March 2019, around 610,000 Americans die each year from heart disease.
In North America, coronary heart disease (CHD) is the leading cause of death for both men and women, making cardiovascular health one of the most important applications of omega 3 supplements. Food has evolved into functional foods and supplements, which can provide several health benefits in addition to basic sustenance.
As a result, items containing omega fatty acids, such as fortified meals and dietary supplements, are projected to be in high demand in the regional market. Due to increased sporting activities, Asia Pacific is expected to see considerable growth due to higher expenditure on health-enhancing items.Increased malnutrition rates and an ageing population are also contributing to the increase.
|Market Size in 2022||US$ 6.60 Billion|
|Market Size by 2030||US$ 12.96 Billion|
|CAGR||CAGR of 8.8% From 2023 to 2030|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• By Source Type (Fish Oil, Krill Oil, Algae Oil)
• By Application Type (Food & beverage, Nutraceutical supplement, Pharmaceutical, Infant formula)
• By End User (Adults, Geriatric, Pregnant Women, Children, Infants)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||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|
|DRIVERS||• Chronic disease awareness is growing.
• Increased attention to cognitive development
|Restraints||• Lack of consumer understanding of the daily recommended consumption|
Frequently Asked Questions (FAQ) :
The Omega 3 supplements market is predicted to grow at a CAGR of 8.8%.
The restraints of the market are a lack of consumer understanding of the daily recommended consumption.
North America is the most known region.
Yes, a data validation process is followed in this report.
Geriatric, Pregnant Women, and Children these are the end-users of omega 3 supplements market
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
22.214.171.124 United Kingdom
126.96.36.199 South Korea
188.8.131.52 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Omega 3 supplements market Segmentation, by source type
8.1 Fish Oil
8.2 Krill Oil
8.3 Algae Oil
9. Omega 3 supplements market Segmentation, by application type
9.1 Food & beverage
9.2 Nutraceutical supplement
9.4 Infant formula
10. Omega 3 supplements market Segmentation, By end user type
10.3 Pregnant Women
11. Regional Analysis
11.2 North America
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4.2 South Korea
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.3 South Africa
11.6 Latin America
11.6.3 Rest of Latin America
12. Company Profiles
12.1 Nordic Naturals
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 NutriGold Inc.
12.3 Reckitt Benckiser Group plc
12.5 Pharma Nord B.V
12.5 i-Health, Inc
12.6 Aker BioMarine AS
12.7 Luhua Biomarine (Shandong) Co., Ltd
12.8 Pharmavite LLC
12.9 KD Pharma Group
12.10 NOW Foods
12.12 Natrol LLC
12.13 Carlson Laboratories
12.13 Optimum Nutrition, Inc.
12.16 VAYA Pharma
12.17 Vital Choice Wild Seafood & Organics
12.20 The Nature’s Bounty Co.
13. Competitive Landscape
13.1 Competitive Benchmark
13.2 Market Share Analysis
13.3 Recent Developments
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