Online Stores is Expected to be the Fastest Growing Segment During the Forecast Period 2020–2028
According to The Insight Partners market research study on “South America Omega-3 Supplements Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Form, Source, and Distribution Channel,” is expected to reach US$ 2,905.07 million by 2028 from US$ 1,589.98 million in 2021. The market is estimated to grow at a CAGR of 9.0% from 2021 to 2028. The report provides trends prevailing in the South America omega-3 supplements market along with the drivers and restraints pertaining to the market growth. Widening awareness regarding chronic diseases, extending emphasis on cognitive development, and enriching product innovation efforts by companies are the major factor driving the growth of the South America omega-3 supplements market. However, dearth of clarity among consumers about the daily recommended intake hinders the growth of South America omega-3 supplements market.
Brazil has been ranked to be the world’s third-most affected economy due to the COVID -19 pandemic. In South America, Brazil has the highest number of COVID -19 cases, followed by Ecuador, Chile, Peru, and Argentina, among others. The governments in South America have taken an array of actions to protect their citizens and combat the spread of SARS-CoV-2 through lockdowns, trade bans, and travel restrictions. This may have a direct impact on the growth of the omega 3 supplements market.
The South America omega-3 supplements market is segmented on the basis of form, source, distribution channel and country. Based on form, the market is segmented into capsules, soft gels, and others. In 2020, soft gels segment held the largest share in the market, it is also expected to be the fastest growing segment during the forecast period. Based on source, the market is segmented into fish oil, krill oil, algae oil, and others. In 2020, fish oil segment held the largest share in the market, and krill oil is expected to be the fastest growing segment during the forecast period. Based on distribution channel, the market is segmented into supermarkets and hypermarkets, specialty stores, online stores, and others. In 2020, specialty stores segment held the largest share in the market, and online stores is expected to be the fastest growing segment during the forecast period. Similarly, based on country the market is segmented into Brazil, Argentina, and Rest of SAM. In 2020, Rest of SAM held the largest share in the market, and Argentina is expected to be the fastest growing country during the forecast period.
Church & Dwight, Inc.; Prestige Consumer Healthcare Inc.; NOW Foods; Nordic Naturals; Reckitt Benckiser Group plc.; Pharma Nord B.V.; Pharmavite LLC; Quten Research Institute; and Epion Brands are among the leading companies in the South America omega-3 supplements market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, Epion Brands introduced its new Kori Pure Antarctic in Walmart, CVS, Meijer, and HEB. It is also available on Target.com and directly from the product’s website.
Contact Us
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com