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Global Omega-3 Supplements Market to Grow at a CAGR of 8.5% During 2022-2027, Aided by the Growing Demand for the Products among Geriatric, Adults, and Pregnant Women

According to a new report by EMR titled, ‘Omega-3 Supplements Market Report and Forecast 2022-2027’, the global omega 3 supplements market stood at a value of around USD 5.6 billion in 2020. The market is expected to grow at a CAGR of 8.5% in the forecast period of 2022-2027, driven by the growing awareness about its health benefits.

The omega-3 supplements market is driven by the growing awareness among the geriatrics, adults, and pregnant women about the various advantages offered by the diversified omega-3 supplements. Omega-3 fatty acids, present in the omega-3 supplements, prevents cardiovascular diseases, augments brain development, reduces the risk of cancer, and helps the diabetic patients control their insulin levels, among others. The COVID-19 pandemic is anticipated to be a boon for the omega-3 supplements market, as the product boosts immunity significantly. Therefore, the surge in the need to bolster the immunity of geriatrics and adults is likely to provide impetus to the market growth.

In terms of region, North America is likely to account for a significant share in the market, owing to the growing geriatric population in the region, coupled with the rising cases of chronic diseases in the United States of America and Canada. The growing concerns of the healthcare regulatory bodies in the United States of America, such as the American Heart Association, about the need to prevent heart related diseases is likely to provide impetus to the market growth as omega-3 is an excellent ingredient that bolsters the heart health.

In November 2020, Aker Biomarine ASA (FRA: 1PG) announced the launch of LYSOVETA™, a new delivery platform based on LPC bound EPA and DHA from krill. This breakthrough is significant and is likely to expand the opportunities for large market within the brain, eye, and other important health areas. Hence, the omega-3 supplements market, which is known to bolster brain and eye health, is likely to be augmented, owing to the increasing focus of the company towards the geriatric population.

Market Breakup by Sources, Forms, Functionality, End-users, Distribution Channels, and Region:

  • The market is segmented on the basis of sources into fish oil, krill oil, and algae oil, among others.
  • The significant forms of omega-3 supplements include tablets, capsules, and soft gels, among others.
  • On the basis of functionality, the market is segmented into cardiovascular health, brain, nervous system and mental health, eye diseases, and diabetes, among others.
  • The major end-users of the product are adults, geriatric, pregnant women, children, and infants.
  • By distribution channel, the market is divided into OTC and prescribed.
  • Region-wise, the global market for omega-3 supplements can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for omega-3 supplements is driven by the growing awareness among the geriatrics, adults, and pregnant women, about the various advantages offered by the diversified omega-3 supplements. 
  • The growing demand for omega-3 supplements among pregnant women, owing to the fact that omega-3 fatty acids cure depression and reduce the risk of various diseases during pregnancy, is likely to augment the market growth in the forecast period. 
  • The growing geriatric population in the emerging economies and developed economies of the world is likely to be a driving factor in the market.
  • The market will further be aided by the growing consumption of fish oil and algae oil, owing to the various health benefits offered by the products.

Key Offerings of the Report:

  • The EMR report gives an overview of the global omega-3 supplements market for the periods (2017-2021) and (2022-2027).
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for the sources, forms, functionality, end-users, distribution channels, and major regions of omega-3 supplements.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global omega-3 supplements market are NutriGold Inc., Pharma Nord B.V., Luhua Biomarine (Shandong) Co., Ltd., Aker BioMarine ASA, KD Pharma Group SA, and Nordic Naturals, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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