PUBLISHER: DataM Intelligence | PRODUCT CODE: 1285083
PUBLISHER: DataM Intelligence | PRODUCT CODE: 1285083
Global Omega 3 Supplements Market - 2023-2030
Market Overview
The Global Omega 3 Supplements Market reached US$ 6.3 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 12.1 billion by 2030. The market is expected to exhibit a CAGR of 8.5% during the forecast period (2023-2030).
Omega-3 supplements are dietary supplements that contain omega-3 fatty acids, which are essential nutrients for the human body. These fatty acids play an important role in several bodily functions, including brain function, heart health, and reducing inflammation. However, not everyone consumes enough omega-3s through their diet, which has led to the popularity of omega-3 supplements as a convenient way to increase intake.
Omega-3 supplements are available in various forms, including capsules, soft gels, liquids, and gummies. The omega-3 supplements market has seen significant growth in recent years, driven by increasing awareness about the health benefits of these nutrients and the trend towards using supplements as a preventative measure against chronic diseases.
Market Dynamics
Growing Prevalence of Chronic Diseases Drives Demand for Omega-3 Supplements
According to omega 3 supplements market analysis, one of the significant trends driving the omega-3 supplements market is the increasing prevalence of chronic diseases and health conditions. Research has shown that omega-3s may help manage or prevent conditions such as heart disease, diabetes, and arthritis, which are on the rise globally. This has led to an increasing number of healthcare professionals recommending omega-3 supplements to their patients, driving up demand for these products.
Furthermore, with growing awareness about the health benefits of omega-3s, consumers are also seeking out these supplements to maintain their overall health and wellbeing. As a result, the omega-3 supplements market is expected to witness significant growth in the coming years, driven by the trend of using supplements as a preventative measure against chronic diseases and for overall health maintenance.
Contamination Concerns Pose Restraint to Omega-3 Supplements Market Growth
One of the significant restraints of the omega-3 supplements market, as per the omega 3 supplements market analysis, is the potential risk of contamination or impurities in the supplements.
This can lead to concerns regarding the safety and quality of the products, which can ultimately affect consumer trust and impact the omega 3 supplements market share. Omega-3 supplements are generally sourced from fish, and if the fish are not appropriately sourced or handled, they can contain harmful contaminants such as mercury, PCBs, and dioxins. Therefore, regulations and guidelines have been put in place to ensure the safety and purity of the products.
Companies are also focusing on sustainable and eco-friendly sourcing practices to address these concerns and appeal to consumers who prioritize health and environmental sustainability, thereby sustaining their omega 3 supplements market share.
COVID-19 Impact Analysis
The COVID-19 analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with pricing dynamics (including pricing change during and post-pandemic comparing it with pre-COVID scenarios), demand-supply spectrum (shift in demand and supply owing to trading restrictions, lockdown and subsequent issues), government initiatives (initiatives to revive market, sector or industry by government bodies) and manufacturers strategic initiatives (what manufacturers did to mitigate the COVID issues will be covered here).
Segment Analysis
The global omega 3 supplements market is segmented based on source, form, functionality, end user, distributional channels, and region.
Distribution Channels Play a Crucial Role in the Growth of the Omega-3 Supplements Market
The omega 3 supplements market has a diverse range of distribution channels to reach consumers. These include retail stores, e-commerce platforms, foodservice providers, and direct-to-consumer channels.
According to omega 3 supplements market analysis, the distribution channel segment for the omega-3 supplements market plays a crucial role in determining the market share of different products. The traditional distribution channels such as supermarkets/hypermarkets and drugstores/pharmacies hold a significant market share, with a segment share of over 40%. However, the online retail segment is expected to witness substantial growth during the forecast period, with a projected segment share of over 25%.
The health stores segment also contributes significantly to the omega-3 supplements market share. Other distribution channels, such as direct sales and convenience stores, hold a smaller segment share. Overall, the choice of distribution channel for omega-3 supplements can significantly impact market share and product reach.
Geographical Analysis
Asia-Pacific Omega-3 Supplements Market Set to Witness Significant Growth Driven by Rising Health Awareness
By region, the global omega 3 supplements market is segmented into North America, South America, Europe, Asia-Pacific, and Middle-east & America.
The omega-3 supplements market in the Asia-Pacific region is expected to experience substantial growth in the coming years. The region's market share of omega-3 supplements is expected to increase due to the rising awareness of the health benefits of omega-3 fatty acids. Japan leads the market share with over 35%, thanks to the increasing aging population that drives the demand for omega-3 supplements. China and India are also significant markets, with market shares of over 25% and 15%, respectively.
The large population base and increasing health awareness in these countries are significant contributors to the growth of the omega-3 supplements market. The online retail segment is expected to see a significant rise in the omega-3 supplements market in the Asia-Pacific region, offering consumers the convenience of shopping from home and a wide range of product choices. Overall, the growth of the omega-3 supplements market in the Asia-Pacific region is driven by increasing health awareness and demand for natural and sustainable sources of omega-3.
Competitive Landscape
The major global players include: Nordic Naturals Inc, Reckitt Benckiser Group plc (RB), Aker BioMarine, DSM, NOW Foods, Pharmavite LLC, Carlson Labs, Coromega LLC, NutriGold Inc, and Barlean's Organic Oils LLC.
Why Purchase the Report?
- To visualize the global omega 3 supplements market segmentation based on source, form, functionality, end user, distribution channels, and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of omega 3 supplements market-level with all segments.
- The PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as Excel consisting of key products of all the major players.
The global omega 3 supplements market report would provide approximately 77 tables, 81 figures and 195 Pages.
Target Audience 2023
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
Table of Contents
1. Methodology and Scope
- 1.1. Research Methodology
- 1.2. Research Objective and Scope of the Report
2. Definition and Overview
3. Executive Summary
- 3.1. Snippet by Source
- 3.2. Snippet by Form
- 3.3. Snippet by Functionality
- 3.4. Snippet by End User
- 3.5. Snippet by Distribution Channel
- 3.6. Snippet by Region
4. Dynamics
- 4.1. Impacting Factors
- 4.1.1. Drivers
- 4.1.2. Restraints
- 4.1.3. Opportunity
- 4.1.4. Impact Analysis
5. Industry Analysis
- 5.1. Porter's Five Forces Analysis
- 5.2. Supply Chain Analysis
- 5.3. Pricing Analysis
- 5.4. Regulatory Analysis
6. COVID-19 Analysis
- 6.1. Analysis of COVID-19
- 6.1.1. Scenario Before COVID-19
- 6.1.2. Scenario During COVID-19
- 6.1.3. Scenario Post COVID-19
- 6.2. Pricing Dynamics Amid COVID-19
- 6.3. Demand-Supply Spectrum
- 6.4. Government Initiatives Related to the Market During Pandemic
- 6.5. Manufacturers Strategic Initiatives
- 6.6. Conclusion
7. By Source
- 7.1. Introduction
- 7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Source
- 7.1.2. Market Attractiveness Index, By Source
- 7.2. Fish Oil*
- 7.2.1. Introduction
- 7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 7.3. Krill Oil
- 7.4. Algae Oil
- 7.5. Others
8. By Form
- 8.1. Introduction
- 8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 8.1.2. Market Attractiveness Index, By Form
- 8.2. Soft Gel Capsules*
- 8.2.1. Introduction
- 8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 8.3. Liquid
- 8.4. Powder
9. By Functionality
- 9.1. Introduction
- 9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Functionality
- 9.1.2. Market Attractiveness Index, By Functionality
- 9.2. Cardiovascular Health*
- 9.2.1. Introduction
- 9.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 9.3. Brain & Cognitive Health
- 9.4. Eye Health
- 9.5. Joint Health
- 9.6. Others
10. By End User
- 10.1. Introduction
- 10.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
- 10.1.2. Market Attractiveness Index, By End User
- 10.2. Adults*
- 10.2.1. Introduction
- 10.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 10.3. Pregnant Women
- 10.4. Children
- 10.5. Elderly
- 10.6. Others
11. By Distribution Channel
- 11.1. Introduction
- 11.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
- 11.1.2. Market Attractiveness Index, By Distribution Channel
- 11.2. Supermarkets/Hypermarkets*
- 11.2.1. Introduction
- 11.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 11.3. Convenience Stores
- 11.4. Online Stores
- 11.5. Others
12. By Region
- 12.1. Introduction
- 12.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
- 12.1.2. Market Attractiveness Index, By Region
- 12.2. North America
- 12.2.1. Introduction
- 12.2.2. Key Region-Specific Dynamics
- 12.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Source
- 12.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 12.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Functionality
- 12.2.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
- 12.2.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
- 12.2.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 12.2.8.1. The U.S.
- 12.2.8.2. Canada
- 12.2.8.3. Mexico
- 12.3. Europe
- 12.3.1. Introduction
- 12.3.2. Key Region-Specific Dynamics
- 12.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Source
- 12.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 12.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Functionality
- 12.3.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
- 12.3.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
- 12.3.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 12.3.8.1. Germany
- 12.3.8.2. The U.K
- 12.3.8.3. France
- 12.3.8.4. Italy
- 12.3.8.5. Spain
- 12.3.8.6. Rest of Europe
- 12.4. South America
- 12.4.1. Introduction
- 12.4.2. Key Region-Specific Dynamics
- 12.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Source
- 12.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 12.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Functionality
- 12.4.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
- 12.4.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
- 12.4.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 12.4.8.1. Brazil
- 12.4.8.2. Argentina
- 12.4.8.3. Rest of South America
- 12.5. Asia-Pacific
- 12.5.1. Introduction
- 12.5.2. Key Region-Specific Dynamics
- 12.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Source
- 12.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 12.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Functionality
- 12.5.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
- 12.5.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
- 12.5.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 12.5.8.1. China
- 12.5.8.2. India
- 12.5.8.3. Japan
- 12.5.8.4. Australia
- 12.5.8.5. Rest of Asia-Pacific
- 12.6. Middle East and Africa
- 12.6.1. Introduction
- 12.6.2. Key Region-Specific Dynamics
- 12.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Source
- 12.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 12.6.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Functionality
- 12.6.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
- 12.6.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Distribution Channel
13. Competitive Landscape
- 13.1. Competitive Scenario
- 13.2. Market Positioning/Share Analysis
- 13.3. Mergers and Acquisitions Analysis
14. Company Profiles
- 14.1. Nordic Naturals Inc
- 14.1.1. Company Overview
- 14.1.2. Grade Portfolio and Description
- 14.1.3. Financial Overview
- 14.1.4. Key Developments
- 14.2. Reckitt Benckiser Group plc (RB)
- 14.3. Aker BioMarine
- 14.4. DSM
- 14.5. NOW Foods
- 14.6. Pharmavite LLC
- 14.7. Carlson Labs
- 14.8. Coromega LLC
- 14.9. NutriGold Inc
- 14.10. Barlean's Organic Oils LLC
LIST NOT EXHAUSTIVE
15. Appendix
- 15.1. About Us and Services
- 15.2. Contact Us
