Omega-3 Supplements Market to Grow at a CAGR of 8.4% During 2021-2028 Key Players are Pharmavite, Epion Brands, Rimfrost

Omega-3 Supplements Market Size of Various Regions with Promising Growth Opportunities, Study 2023

NEW YORK, NEW YORK, UNITED STATES, March 8, 2023 /EINPresswire.com/ -- The omega-3 supplements market is expected to reach US$ 50,845.88 million by 2028 from US$ 28,817.29 million in 2021; it is estimated to grow at a CAGR of 8.4% during 2021–2028. Omega-3 is a polyunsaturated fatty acid obtained by the consumption of plant and animal sources as it cannot be synthesized in the human body. Mostly, omega-3 can be obtained from marine and plant-based sources.

Omega-3 supplements contain highly concentrated omega-3 fatty acids, such as EPA, DHA, and numerous vitamins and minerals that the human body needs to maintain overall health and wellness. In the past few years, consumers' stressful and hectic lifestyles and dietary habits have significantly limited their nutritional intake. EPA and DHA in omega-3 supplements help reduce the risk of heart diseases and improve metabolic and cardiovascular health. It has anti-inflammatory properties, and it further supports the immune system by promoting the functionality of immune cells. Rising awareness regarding chronic health has increased the daily intake of omega-3 supplements, thus driving the market growth.

By source, the omega-3 supplements market is segmented into fish oil, krill oil, algae oil, and others. The fish oil segment held the largest share of the market in 2020. Fish oil is mainly derived from oily fish tissues containing omega-3 fatty acids, docosahexaenoic acid (DHA), and eicosapentaenoic acid (EPA). The most extensively available EPA and DHA dietary sources are cold-water oily fishes, such as salmon, anchovies, mackerel, and sardines. Fish oil has become a prevalent supplement because of its cardiovascular health benefits. Studies show that people in many nations suffer from low levels of DHA and EPA that correlate to poor health issues. Furthermore, oily fish, such as Herring, Salmon, and Mackerel, contains omega-3 fatty acids essential for healthy metabolism, brain development, and heart disease prevention. Therefore, such health benefits are the key factors driving the market growth for the fish oil segment.

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The global omega-3 supplements market is segmented into five main regions— North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South and Central America. In 2020, North America accounted for the largest share of the market. However, Asia-Pacific is expected to register the highest CAGR during the forecast period. The increasing prevalence of lifestyle disorders, such as diabetes, high blood pressure, obesity, and cardiovascular problems, in India, drives the market growth in the Asia Pacific. Another factor boosting the product demand is a growing awareness of the benefits of living an active lifestyle. The country's metropolitan population with high disposable income is increasingly opting for nutritional supplements, which is expected to drive product demand even higher during the forecast period. The existence of an aging population, especially in Japan, and their need for a healthy life without the presence of chronic diseases along with good mental and physical functions, drive the growth of the omega-3 supplements market in the Asia Pacific.

By form, the omega-3 supplements market is segmented into capsules, soft gels, and others. By source, the market is segmented into fish oil, krill oil, algae oil, and others. Based on distribution channels, the omega-3 supplements market is segmented into supermarkets and hypermarkets, specialty stores, online stores, and others. By geography, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South and Central America. The market in North America is further segmented into the US, Canada, and Mexico. The omega-3 supplements market in Europe is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The market in Asia Pacific is subsegmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The omega-3 supplements market in Middle East & Africa (MEA) is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. The market in South and Central America is subsegmented into Brazil, Argentina, and the rest of South and Central America.

Impact of COVID-19 Pandemic on Omega-3 Supplements Market

The COVID-19 pandemic caused a significant economic loss across the world. The emergence of new COVID-19 outbreak waves in many economies has prolonged the effect of pandemics upon GDP. The pandemic is anticipated to cause huge disruptions in the growth of various industries. However, the omega-3 supplements market is expected to witness growth in the future as these supplements are beneficial for eye, heart, and brain health, and support immune health. In addition, capital investment in research and development activities by existing players along with the market entry of new players to tap the prevailing opportunities and meet soaring demand for natural, healthy, and clean-label products in post-pandemic times is expected to further benefit the market.

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Church & Dwight, Inc.; Prestige Consumer Healthcare Inc.; Pharmavite LLC; Quten Research Institute; Epion Brands; NOW Foods; Nordic Naturals; Reckitt Benckiser Group PLC; Pharma Nord B.V.; Rimfrost AS are a few of the major key players operating in the global omega-3 supplements market.

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