Omega-3 products provide various health benefits such as improving cardiovascular health, brain health, sleep quality, mood improvement and also help in weight management. The increasing health consciousness among people and growing awareness about the benefits of omega-3 products is driving the demand for omega-3 supplements in various forms such as capsules, soft gels, gummies and liquids.
The global Omega-3 Products Market is estimated to be valued at US$ 47500.55 Mn in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The key trend accelerating the growth of the omega-3 products market is the rising health consciousness among people. There is growing consumer awareness regarding the role of omega-3 fatty acids in maintaining overall well-being. The increasing prevalence of lifestyle diseases and chronic conditions has compelled people to become more conscious about their health and diet. This is contributing to the demand for omega-3 supplements. Additionally, favourable marketing and promotion campaigns by leading players emphasizing the health benefits of omega-3s are also driving the adoption of omega-3 products among end-users. The increasing popularity of omega-3 products in various dosage forms catering to customer convenience is another major trend boosting the market growth over the forecast period.
Segment Analysis
The global omega-3 products market is dominated by encapsulated/powdered sub segment. The encapsulated/powdered omega-3 products sub segment holds the major market share due to its easy and convenient consumption. These encapsulated products are usually consumed in the form of gel capsules, tablets or powders. They have the advantage of no fishy aftertaste and easy consumption.
Key Takeaways
The Global Omega-3 Products Market Size is expected to witness high growth over the forecast period. The market is growing primarily due to raising awareness regarding various health benefits associated with omega-3 fatty acids consumption and growing demand for functional food and pharmaceutical applications.
Regional analysis
North America dominates the global omega-3 products market currently. The growth in the region is contributed by rising health-conscious population, busy lifestyles and increasing demand for dietary supplements. Asia Pacific is expected to witness the fastest growth during the forecast period due to rising per capita income, growth in middle-class population and growing awareness about preventive healthcare.
Key players
Key players operating in the omega-3 products market are Nestle SA, Unilever PLC, Amway Corp., Aker BioMarine, Blackmores Group, Herbalife Nutrition Ltd, Glanbia PLC, Reckitt Benckiser Group PLC, Natrol LLC, Nordic Naturals Inc., Now Foods, and Pharmacare Laboratories Pty Ltd.
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