World Omega-3 Supplement Market size is estimated to be $8.5 billion by 2025, growing at a CAGR of 12.4% during the forecast period 2020-2025. Omega-3 is a fatty acid which is considered to be good source of health and its consumption through dietary supplements such as fish oil, krill oil, cod liver oil and algal oil have increased among the human population. Its consumption reduces the risk of cardiovascular diseases, arthritis and cancer. The shifting of consumers towards a more healthy diet is increasing the market demand for dietary supplements consisting of fish oil with ultra-high concentrates of Omega-3 is scaling up the manufacturing process and is driving the market growth. Also, Docosahexaenoic acid (DHA) a type of Omega-3 is gaining market value owing to the research developments on infant diet suggests its role is essential in growth and functional development of brain which has increased the use of DHA in infant products by manufacturers. Besides human consumption Omega-3 is also provided to animals as fortified feeds to enrich the production of poultry-based products.
World Omega-3 Supplement Market Segment Analysis – By Source
By Source the World Omega-3 Supplement Market is segmented into Marine and Plants. The largest source of Omega-3 is marine segment; especially it is extracted from fatty fish such as Salmon, Mackerel, Seabass, Oysters Sardines, Shrimp and Trout. As Omega-3 intake is important for humans as its deficiency can cause many diseases and for vegan eaters it is difficult to consume fish oil based products. For them omega-3 is derived from alternate plant based sources such as seaweeds and algae, walnuts, chia seeds, hemp seeds, flax seeds, kidney beans, soya bean oil. However, if omega-3 dietary requirements are not met sufficiently dietary supplements are provided for consumption through fish oil, cod liver oil, krill oil and algae oil.
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World Omega-3 Supplement Market Segment Analysis – By Application
By application dietary supplements account for largest market share owing to increasing geriatric population which requires supplement to prevent chronic illness so the demand for fish oil as a supplement is increasing the market growth. Also the requirement for DHA in infant brain development is rapidly increasing the infant formula market. Furthermore as a therapeutic need omega-3 is supplied as domestic animal feed supplements to prevent them from degenerative diseases and also livestock and fishes are provided with omega-3 rich feeds in order to produce high quality poultry products.
World Omega-3 Supplement Market Segment Analysis – By Geography
North America dominated the World Omega-3 Supplement Market with a region share of 37.1% in 2019 owing to increasing awareness about omega-3 health benefits which has increased the utilization of supplements as a therapeutic means. Moreover rising geriatric population is a need to increase their life expectancy which is driving the demand for omega-3 supplements in the pharmaceutical industry is boosting the market growth for the forecast period 2020-2025. Furthermore, Asia-Pacific is anticipated to be the fastest-growing economy owing to rising health awareness and changing preference of consumers towards fish oil supplements in their daily diets is driving the market growth for World Omega-3 supplement Market.
World Omega-3 Supplement Market Drivers
Increasing consumer awareness towards Omega-3 health benefits
The shift in consumer preferences towards dietary supplements and fortified food and beverage products containing fish oil is driving the market World Omega-3 Supplements for the forecast period 2020-2025. Omega-3 is considered to reduce the risk of heart diseases, coronary artery by reducing the level of triglycerides in the blood. Owing to various health benefits omega-3 is finding scope in different applications such as use of DHA for infant formulas for growth and brain development is very important at infant level. Also demand for high Omega-3 consumption is driving the development of increased amount of omega-3 in dietary supplements.
Increased demand as therapeutics in animal feeds
Omega-3 is known for its health benefits is increasing its scope as therapeutic diet for dogs and cats which is also driving the World Omega-3 Supplement market. Owing to its ability to prevent degenerative conditions such as arthritis, inflammatory bowel syndrome and immunity-related disorders in domesticated animals which is anticipating the market to rapidly grow for pet treats and dog food supplements.
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World Omega-3 Supplement Market Challenges
Lack of proper guidelines on dosage intake results into less benefits
Owing to no clear approved guidelines on the consumption dosage of omega-3 is making consumers unclear about the quantity at which they obtain the benefits from the food supplements and fortified products they consume. As this is resulting into low or no benefits to the consumer which is restraining the growth of World Omega-3 Supplement market during the forecast period 2020-2025.
World Omega-3 Supplement Market Industry Outlook
Product Launches, Merger & Acquisitions, joint ventures, and R&D activities are key strategies adopted by the players in World Omega-3 Supplement Market. World Omega-3 Supplement Market top 10 companies are BASF, Nordic Naturals, KD Pharma, DSM, Cargill, Epax, Algisys, Corbion, Orkla Health, Polaris.
World Omega-3 Supplement Market Developments:
Oct 2018: Cargill, Minnesota based global food corporation, launched Latitude™ which is an alternate source of fish oil and is made from canola oilseeds. In order to achieve sustainable solution and reduce marine dependence this product was launched.
Docosahexaenoic acid (DHA) accounts for largest market share owing to its growing demand in infant formula as it is considered important for brain development.
Marine dominates the source segment as it is estimated to be the fastest-growing segment with large market share for fish oil which is the primary source for Omega-3.
Dietary Supplements accounts for the largest market share and is considered as a demanding source for Omega-3 owing to shifting consumer preference towards fortified food diets.
North America dominated the World Omega-3 Supplement Market owing to the rising geriatric population which needs to increase their life expectancy by consuming omega-3 supplements is driving the pharmaceutical industry for the forecast period 2020-2025.
Related Reports :
A. Omega 3 And 6 Market
B. Fish Oil Products Market
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