by Omega-3 Products Market, By Product Type (Functional Food, Dietary Supplements, Infant Nutrition, Pet Food and Feed, Pharmaceutical), By Distribution Channel (Grocery Retailers, Pharmacies and Drug Stores, Internet Retailing, Other Distribution Channels), By Source (Plant-based, Animal-based), By Region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa)- Size, Share, Outlook, and Opportunity Analysis, 2023 – 2030.
Market Overview:
Omega-3 is a type of essential fatty acid that our bodies cannot produce on their own, necessitating its intake through dietary sources. It falls under the category of polyunsaturated fatty acids and comprises three main types: alpha-linolenic acid (ALA), docosahexaenoic acid (DHA), and eicosapentaenoic acid (EPA). EPA is commonly found in fatty fish like salmon, mackerel, and sardines. Known for its anti-inflammatory properties, EPA plays a crucial role in supporting heart health. It has been shown to reduce triglycerides, lower blood pressure, and improve overall cardiovascular health, reducing the risk of cardiovascular diseases.
Competitive Landscape:
Major players operating in the global Omega-3 Products Market include Pharmacare Laboratories Pty Ltd., Now Foods, Nordic Naturals Inc., Natrol LLC, Reckitt Benckiser Group PLC, Glanbia PLC, Herbalife Nutrition Ltd, Blackmores Group, Aker BioMarine, Amway Corp., Unilever PLC, and Nestle SA.
Key Market Drivers:
Increasing awareness of the health benefits of omega-3 fatty acids, including cardiovascular health, cognitive function, and joint health, has driven consumer interest in omega-3 products. The prevalence of chronic diseases such as heart disease, diabetes, and obesity has led to a growing focus on preventive healthcare, driving the demand for omega-3 products as a dietary supplement. This is expected to augment the growth of the global omega-3 products market. For instance, in March 2020, Wiley Companies introduced an omega-3 concentrate in powdered form, which is designed to be used in beverages and foods.
As consumers adopt healthier lifestyles, including balanced diets and regular exercise, the demand for nutritional supplements like omega-3 products has increased. Manufacturers are diversifying their product portfolios to include a wide range of omega-3 products, such as fish oil supplements, algal oil supplements (suitable for vegetarians), fortified foods, and functional beverages. Ongoing scientific research highlighting the health benefits of omega-3 fatty acids and endorsements from medical professionals have boosted consumer confidence in these products. This is estimated to enhance the growth of the global omega-3 products market
The increased awareness of a healthy lifestyle is a major factor driving the Edible Nuts Market forward.
Covid-19 Impact Analysis:
During the COVID-19 pandemic, supply chain disruptions, and logistic challenges impacted the distribution of omega-3 products, leading to fluctuations in availability and pricing. Economic uncertainties during the pandemic also influenced consumer spending, affecting the growth of the global omega-3 products market.
Key Takeaways:
North America is expected to dominate the growth of the global omega-3 products market, owing to the high health awareness, a large aging population, and a well-established dietary supplements industry. For instance, in July 2021, Neptune Wellness Solutions Inc. launched a new Forest Remedies’ Multi Omega 3-6-9 gummies, which is plant-based and has Ahiflower as the main ingredient.
The Asia-Pacific is estimated to witness high growth in the global omega-3 products market, fueled by the rising middle-class population, urbanization, and growing health-consciousness among consumers. For instance, in February 2021, OZiva introduced its new range of Omega-3 multivitamins, which are vegan.
