Omega 3 Supplements Market Size, Share & Trends Analysis Report By Source (Fish, Krill Oil), By End User (Adults, Infants), By Functionality, By Distribution Channel, And Segment Forecasts, 2022 – 2031

Kenneth Research, in its repository of market research reports, have recently added a report on Omega 3 Supplements Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031. The Omega 3 Supplements Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Omega 3 Supplements Market products.

REPORT HIGHLIGHT

The omega-3 supplements market is estimated to represent a global market of USD 34.90 billion by 2017, growing with 6.23% CAGR over the forecast period

Market Dynamics

Omega 3 supplements are fish oils that are rich in docosahexaenoic acid (DHA), and Eicosapentaenoic acid (EPA). As people are becoming aware of the importance of healthy lifestyle and seek a solution to the rising problem of obesity, it will result in a considerable increase in the demand of omega 3 supplements in the upcoming years.

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There is scientific evidence to suggest that Omega 3 is very effective in treating high cholesterol, arthritis, immunity loss, hypertension, and heart disease. Moreover, it is beneficial for vision development and nervous system of fetuses. Thus, a gradual increase in awareness regarding the numerous health benefits will contribute positively to the global market expansion in the years to follow. However, fisheries sustainability issues can minimize fish oil production and this can hamper the industry growth.

Market by Source

The omega 3 market is segregated into pet & animal feed, instant formulas, supplement & functional foods, pharmaceuticals. The fish oil segment, anchovy will dominate the industry because of their wide availability. Among all the available sources, fish oil dominates the global omega 3 supplements market. The extensive demand for fish oil during the past few years, due to its high nutritional value is likely to bolster this segment and keep it dominant in the coming years. Likewise, krill oil is also expected to emerge as a significant source of omega 3 over the forecast period.

Application Takeaway

The industry is broadly segmented into pet and animal feed, infant formulas, pharmaceuticals, and supplement and functional foods based on its applications. Infant formula segment is expected to take an edge in the market because of its health benefits for babies. The segment of supplement and functional foods is also capturing the market because of increasing health care cost, and hefty investment in R&D. Dietary supplements play a significant role in maintaining fitness and nutrient adequacy among adults. Hence, it is anticipated to leverage the consumption of omega 3 products related to dietary supplement.

Supplement and functional foods ensure the intake of important nutritional constituents. The rise of cardiovascular diseases among the millennial due to sedentary life style and faulty dietary habits will propel the demand for nutraceutical products based on omega 3. Improved awareness of the harmful effects of consuming excess calories is likely to surge the use of omega 3 in sports supplement and functional food products.

Regional Insights

Asia Pacific region is anticipated to have the highest growth rate due to the increasing demand in countries like Australia, India, and China. Extensive use of fish oil in regular diet and rise in health awareness will augment the product demand. Increase in the cultivation of krill fish in the Indian Ocean and South China Sea will be propelling the overall market development.

In North America, a substantial increase in product utilization particularly in the pharmaceutical industry along with growing R&D activities is projected to boost the regional market. Europe will also witness a healthy growth due to increased consumption in the form of dietary supplement and rising geriatric population particularly in developed economies like France and Germany.

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Key Vendor Takeaway

Some of the renowned companies in the global industry are Lonza, GC Rieber Oils AS, Omega Protein Corporation, DSM, BASF SE, Axellus, Aker BioMarine. Capacity expansions and product development are the major operational strategies adopted on the part of the manufacturers. The high differentiation of products in the market has forced manufacturers to focus on the introduction of different forms like soft gels, powders, liquids, and tablets.

The market size and forecast for each segment and sub-segments has been considered as below:

Historical Year – 2014 & 2016

Base Year – 2017

Estimated Year – 2018

Projected Year – 2025

TARGET AUDIENCE

Traders, Distributors, and Suppliers

Manufacturers

Government and Regional Agencies

Research Organizations

Consultants

Distributors

SCOPE OF THE REPORT

The scope of this report covers the market by its major segments, which include as follows:

MARKET, BY SOURCE

Fish Oil

Anchovy

Sardine

Salmon

Tuna

Cod Liver

Krill Oil

MARKET, BY APPLICATION

Infant Formula

Food & Beverages

Dietary Supplements

Pharmaceuticals

Pet & Animal Feed

Clinical Nutrition

MARKET, BY REGION

North America

The U.S.

Canada

Europe

Germany

France

Rest of Europe

Asia Pacific

India

China

Rest of APAC

Rest of the World

The Middle East and Africa

Latin America

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