Omega-3 Supplements Market Trends and Analysis by 2028

The omega-3 supplements market is expected to reach US$ 50,845.88 million by 2028 from US$ 28,817.291 million in 2021; it is expected to grow at a CAGR of 8.4% during 2021 to 2028.

Omega-3 supplements contain highly concentrated oils comprising EPA and DHA along with other essential vitamins and other nutrients. The plethora of health benefits and attributes offered by omega-3 supplements drive the growth of the omega-3 supplements market

The Asia Pacific is a large and lucrative market for omega-3 supplements and is expected to grow at a high pace over the forecast period. The market players in the region are continuously improving their overall business processes to meet the customers' demand for superior quality products and services. Consumers are shifting their preferences toward a healthy lifestyle and prefer products that improve their health and well-being. Demand for omega-3 supplements is increasing due to the rising geriatric population and the increasing prevalence of diseases associated with aging. These factors are expected to increase the consumption of omega-3 supplements during the forecast period.

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Omega-3 Supplements Market: Strategic Insights

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

The COVID-19 outbreak adversely affected economies and industries in various countries due to lockdowns travel bans, and business shutdowns imposed by governments. Food & Beverages is one of the major industries suffering serious disruptions, such as supply chain breaks, technology events cancellations, and office shutdowns. Consumers have started focusing on building better health and immunity. As omega-3 helps in the prevention of many health-related issues, the consumption for the product has increased, which is expected to continue during the forecast period also. Therefore, the pandemic has affected the omega-3 supplements market positively.

Market Insights

Rising Awareness Regarding Chronic Diseases

Omega-3 is obtained from animal and plant sources that are rich in polyunsaturated fatty acids. Supplements such as Omega-3 are in high demand due to the requirement of micronutrients for various health benefits is high in demand. The number of cases concerning chronic diseases is rising in the world, which has led to consumers opting for dietary supplements. Moreover, the supplements may also contain other essential vitamins and minerals which are used for immunity-boosting purposes. Omega-3 supplements are helpful in preventing cardiovascular complications which is further boosting the demand for the product.

Form Insights

The omega-3 supplements market, based on form, is segmented into capsules, soft gels, and others. The soft gels segment dominated the market in 2020 and is expected to register the highest CAGR during the forecast period. The capsules segment accounted for the second largest market share in the year 2020. The capsules are one of the common forms of omega-3 supplements. Capsules are popular among the consumers as they are easy to swallow. Capsules are the shells or containers composed of gelatin, which contain powder or spheroid form drugs inside them. Various manufacturers use an enteric coating so that the tablet cannot dissolve until it reaches the human small intestine. This is prevalent in fish oil capsules, as it inhibits fish burps.

Source Insights

The omega-3 supplements market, based on source, is segmented into fish oil, krill oil, algae oil, and others. The fish oil segment dominated the market in 2019 and is expected to register the highest CAGR during the forecast period. Fish oil has become a prevalent supplement because of its cardiovascular health benefits. Most health benefits from fish oil consumption are connected with the long-chain omega-3 fatty acids, EPA, and DHA. Further, oily fish such as herring, salmon, and mackerel contain omega-3 fatty acids essential for healthy metabolism, brain development, and heart diseases prevention. Therefore, fish oil's health benefits are the key factors driving the market growth for the fish oil segment.

Distribution Channel Insights

The omega-3 supplements market, based on distribution channels, is segmented into supermarkets and hypermarkets, specialty stores, online stores, and others. The specialty stores segment dominated the market in 2019. Specialty stores sell only specific products and particular brand items to the consumers, and would not sell anything else apart from the particular range. These factors are bolstering the market growth for the specialty stores segment.

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.; and Rimfrost AS are a few players operating in the omega-3 supplements market. These companies provide a wide range of product portfolio for the market. The companies have their presence in the developing regions, which provides lucrative opportunities for the omega-3 supplements market growth. The market players are developing high-quality and innovative products to fulfil the customer’s requirements.

Omega-3 Supplements Market Regional Insights

The regional trends and factors influencing the Omega-3 Supplements Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Omega-3 Supplements Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Omega-3 Supplements Market Report Scope

Omega-3 Supplements Market Players Density: Understanding Its Impact on Business Dynamics

The Omega-3 Supplements Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Report Spotlights

• Progressive industry trends in the omega-3 supplements market to help players develop effective long-term strategies
• Business growth strategies adopted by developed and developing markets
• Quantitative analysis of the omega-3 supplements market from 2019 to 2028
• Estimation of global demand for omega-3 supplements
• Porter’s five forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry
• Recent developments to understand the competitive market scenario
• Market trends and outlook as well as factors driving and restraining the growth of the omega-3 supplements market
• Assistance in the decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
• The size of the omega-3 supplements market size at various nodes
• Detailed overview and segmentation of the market, as well as the omega-3 supplements industry dynamics
• Size of the omega-3 supplements market in various regions with promising growth opportunities

Omega-3 Supplements Market – by Form

• Capsules
• Soft Gels
• Others

Omega-3 Supplements Market – by Source

• Fish Oil
• Krill Oil
• Algae Oil
• Others

Omega-3 Supplements Market – by Distribution Channel

• Supermarkets and Hypermarkets
• Specialty Stores
• Online Stores
• Others

Company Profiles

• 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.