Global Omega 3 Supplements Market Size, Trends and Analysis - Forecasts to 2026 By Source (Fish Oil, Krill Oil, Algae Oil, Others), By Form (Tablets, Capsules, Soft Gels, Others), By Functionality (Cardiovascular Health, Eye Diseases, Diabetes, Others), By End User (Adults, Children, Geriatric, Infants), By Distribution Channel (Prescribed, OTC), By Region (North America, Asia-Pacific, CSA, Middle East and Africa, Europe), End-User Landscape and Company Market Share Analysis and Competitor Analysis
Omega 3 Supplements Market Insights
Omega 3 supplements market would be following an upward rising trend during the forecast period. The unprecedented times like COVID-19 has led to a spike in anxiety rates, depression, and other problems caused by slow lifestyle pace. Omega 3 supplements can help reduce anxiety, depression, and the traits of metabolic syndrome as well. The stress caused by the pandemic has resulted in India to be on the forefront in terms of 43 percent of individuals going through depression. As the depression rate has gone up and stress levels have increased, the market has witnessed potential opportunities for mega 3 supplements to grow during recent times. The rapidly changing urban lifestyle, increasing levels of junk food consumption in North America, and the Asia Pacific region will enable the market for omega 3 supplements to have abundant growth opportunities in the market. As the number of diabetes patients’ increases in India and heart-related diseases also significantly have risen, the relevance of using omega 3 supplements for these patients has also increased. Growing importance and use in the US and its FDA approved supplements would also act as a propeller for market growth.
Omega 3 Supplements Market: By Source
Based on the source, the market considers algae oil, krill oil, and fish oil into being. Krill oil will have exceptional growth levels in the market owing to its rising importance in comparison to fish oil. The regulatory approval in India for use of krill oil by Aker and European Food Safety Authorization approval to use lipid derived from krill oil has led to the high growth of the segment in the market.
Omega 3 Supplements Market: By Form
Based on the form, the market studies tablets, soft gels, capsules, and others into being. The capsules and soft gels combined will be trending upwards for this market owing to varied reasons. The capsules and soft gels are commonly used to encapsulate the omega 3 supplements. The capsule and soft gel segments are easy to swallow and highly recommended among consumers as they have no bad taste.
Omega 3 Supplements Market: By Functionality
Based on the functionality, omega 3 supplements are recommended for eye diseases, cardiovascular diseases, and diabetes among others. The omega 3 works best for eye diseases as compared to diabetes as supported by the studies conducted and hence this domain will be the largest market shareholder. The omega 3 supplements help in eye vision improvement and also reduce the traits of dry eyes. The United States has a huge market for fish supplements that will act as a potential accelerator for the eye disease segment.
Omega 3 Supplements Market: By End User
Adults, infants, geriatric, and children are the end-users of the market. Adults would be the largest consumer of the omega 3 supplements. Fish supplements are highly consumed by the adult population in the United States region and given the fast-paced lifestyle, switch towards a healthy lifestyle and growing prevalence of the eye and cardiovascular diseases will support the market growth in the coming years.
Omega 3 Supplements Market: By Distribution Channel
Based on the distribution channel, the market takes prescribed and over-the-counter into being. The prescription segment will have a huge market penetration than OTC. The prescription drugs have higher levels of omega 3s as compared to the OTC. The prescribed drugs work best for the high triglycerides which help in the market growth and the segment in the aforementioned period.
Omega 3 Supplements Market: By Region
Based on the region, Asia Pacific will emerge as a prominent leader in the market for omega 3s. China’s large share of market value, rising developmental activities in the Indian region, and a strong consumer base for omega 3s in the Japanese region will place the region on a high trajectory growth path and lead to better market growth for the omega 3s.
Market Share and Competitive Analysis
Key players operating in the market include Arjuna Naturals, Solutex GC, Aker Biomarine, Croda International PLC, Stepan Company, Pharma Marine, GC Rieber Oil, Clover Corporation, BASF SE, Cellana, and Omega Protein Corporation, among others.
Please note: This is not an exhaustive list of companies profiled in the report.
In September 2017, Stepan Company showcased its new line of Marinol omega 3 at an event, which helped the company increase its market visibility.
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The Global Omega 3 Supplements Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Omega 3 Supplements Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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