Omega 3 fatty acids are a form of essential fatty acid that is required for human health. These fatty acids are important for brain function as well as human growth and development. Plants, nut oils, and fish, such as tuna, salmon, and halibut, as well as other marine foods such as algae and krill, contain omega 3 fatty acids. The proper consumption of omega 3 helps to reduce chronic diseases such as arthritis, cancer, and heart disease.
Fish oil is anticipated to be the major source of omega 3 supplements. Fish contain a lot of vitamins and nutrients that are good for the human body. The market is expected to expand due to the numerous benefits provided by fish oil.
Furthermore, the American Heart Association recommends consuming fish twice a week to meet vitamin and nutrient requirements. The two main distribution outlets in the industry are online selling and discount stores. The majority of businesses sell their goods through their websites or online retailers including Amazon and Walmart.
Major Influencing Factors for Omega 3 Supplements Market
The omega 3 supplement market is expected to increase as people become more conscious of the benefits of taking omega 3 supplements, as well as the increasing advertising and marketing campaigns conducted by manufacturers, improvements in the distribution channel, and improving the health of infants. The growing adoption of omega-3 supplements to meet daily nutritional requirements and preserve optimum organ health by the geriatric population in developed economies is expected to drive demand for the supplements.
The market for omega 3 supplements is projected to rise in the coming years as chronic diseases such as strokes, asthma, coronary heart disease, and cancer become more prevalent. Rising government funding for providing consumers with low-cost preventive drugs is expected to drive demand for omega 3 supplements. High commodity costs, as well as rising research and development costs, are anticipated to hinder the growth of the omega 3 supplement market.
COVID-19 Impact on the Global Omega 3 Supplements Market
The outbreak of COVID-19 raised consumer awareness of the importance of immunity and immunity-boosting products, which is anticipated to drive demand for omega fatty acid products. In the coming years, increasing the inclusion of products in gummies with novel flavors is expected to increase product penetration among children.
Major Development and Key Trends in Regional Markets
North America currently dominates the market for omega 3 supplements owing to the rising prevalence of chronic diseases, availability of better health supplements, while Europe is expected to rise due to the growing geriatric population and its increased use in the treatment of obesity. The regional market of Asia Pacific is predicted to be the fastest-growing market. Japan is one of the world’s largest sardine-fishing nations, and this industry is expected to drive regional development in the near future.
Strategic Moves by Leading Market Participants
To increase market share, major players in the omega 3 supplements market are focusing on new product growth and business expansion. To enter untapped markets, manufacturers are focusing on creating application-specific products. They are also working with other businesses to expand the market for their current goods. The majority of companies are vertically integrated with the manufacture of omega 3 fatty acids and supplements from fish and krill oil. This situation provides the companies with a more diverse product range, resulting in higher revenues.
Deep-dive Insights on Omega 3 Supplements Market by Polaris Market Research: https://www.polarismarketresearch.com/industry-analysis/omega-3-supplement-market/request-for-sample