Omega 3 supplements Market Share, Size, Trends, Industry Analysis Report, By Form (Soft Gels, Tablets, Capsules, Others); By Source; By Functionality; By End-User; By Distribution Channel; By Region; Segment Forecast, 2024 - 2032
- Published Date:Mar-2024
- Pages: 120
- Format: PDF
- Report ID: PM1858
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
The global Omega 3 supplements market was valued at USD 8.86 Billion in 2023 and is expected to grow at a CAGR of 9.0% during the forecast period.
The surge in chronic diseases due to a sedentary lifestyle is anticipated to drive the demand for the product. Omega-3 fatty acids play a crucial role in mitigating the risk of abnormal heartbeats or arrhythmias, which could potentially lead to sudden death. Additionally, they contribute to lowering triglyceride levels, decelerating the growth of atherosclerotic plaque, and reducing blood pressure. With a growing focus on preventive care and a shift towards healthier alternatives, consumers are increasingly embracing omega-3 supplements. These supplements, rich in vitamins, proteins, and minerals, offer various health benefits, addressing conditions such as asthma, cancer, depression, and more.
Factors such as brand reputation, nutritional content, and product safety significantly impact consumers' purchasing decisions. Increased awareness of the benefits associated with omega-3 supplements, disseminated through various media channels such as electronic and print, is expected to shape consumer buying behavior. The ongoing rise in fish consumption, particularly in developing nations, is projected to persist. While omega-3 supplements are predominantly derived from fish oil, the uneven harvesting of fish and heightened demand for fish in alternative applications contribute to reduced availability at lower costs, acting as a constraint on market growth.
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The market is experiencing a boost due to the expanding use of omega-3 fatty acids in pet food and pharmaceuticals. Additionally, increasing public initiatives focused on health and fitness contribute to the market's growth. The rising consumer awareness regarding the health advantages of omega-3 is propelling demand and prompting market players to innovate for sustained competitiveness. In terms of technology, odorous oils are delivered in a micro-emulsified formulation, designed for enhanced surface absorption. The OmegaZero® Technology facilitates the emulsification of fragrant oil in the gut, rather than creating a layer on the surface of gastric juice, resulting in a significant reduction in the oil's contact surface with air.
Nevertheless, the irregular capture of fish and the growing demand for fish in alternative applications are diminishing their availability at a lower cost, constraining market expansion. The escalation of environmental, metal, and hazardous pollutants in fish is rendering them unfit for consumption, posing a limitation on the segment's growth. Additionally, heightened regulations on fishing activities aimed at safeguarding fish species are anticipated to affect the industry's supply of raw materials.
Industry Dynamics
Growth Drivers
The Omega-3 Supplements Market is experiencing growth propelled by the rising consumer awareness of health benefits.
With ongoing research shedding light on the benefits of omega-3 fatty acids in heart health, brain function, and inflammation reduction, consumer awareness is on the rise. This heightened awareness is translating into an increased demand for omega-3 supplements, thereby fueling the growth of the Omega 3 supplements market.
As the omega-3 supplements market continues its upward trajectory, companies are actively investing in new product development and innovative marketing strategies to expand their market share. Initiatives include the creation of novel omega-3 supplement formulations, including plant-based options, and the implementation of targeted marketing campaigns to reach specific consumer demographics.
Report Segmentation
The market is primarily segmented based on form, source, functionality, end-user, distribution channel, and region.
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By Form |
By Source |
By Functionality |
By End-User |
By Distribution channel |
By Region |
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By Functionality Analysis
The Soft Gels segment held the largest revenue share in 2023
Soft gels, an oral dosage format, comprise a gelatin-based casing encasing a liquid fill. They present a more swallow-friendly alternative to tablets and capsules, lacking unpleasant odors and tastelessness. The increased absorption and bioavailability inherent in soft gels contribute to rapid disintegration, immediate nutrient release, and accelerated efficacy, fueling their demand. Soft gels excel in delivering fish oil supplements, bypassing undesirable tastes and odors.
In addition to omega-3 supplements, soft gel forms are available for various other dietary supplements, such as vitamins A, E, D3, lycopene, carotenoids, and omega-3 fatty acids. The widespread use of soft gels is anticipated to experience substantial growth due to their smooth texture and ability to mask taste. Capsules, on the other hand, consist of gelatin shells containing either powder or spheroid-shaped drugs. Beyond animal-derived gelatin, capsules can be made using plant-derived materials like hydroxypropyl methylcellulose and polysaccharide matrix.
Anticipated is a significant demand for plant-based casing materials, driven by the increasing global population adhering to a vegan lifestyle. Gummies, resembling candies, present a chewable rendition of omega-3 supplements enriched with nutrients. Initially designed for adults and children averse to pills, gummies gained popularity among diverse end users due to their effortless assimilation and visual appeal. Additionally, the gummy variant of the product comes in a diverse range of flavors.
By Product Analysis
The Cardiovascular Health segment accounted for the highest market share during the forecast period
In the field of cardiovascular disease prevention, omega-3 fatty acids play a crucial role by preserving HDL cholesterol, stabilizing heart rhythms, diminishing detrimental LDL cholesterol, and reducing blood pressure. These diverse health advantages are anticipated to propel the demand for the product within the cardiovascular health sector. According to the AHA, the year 2020 witnessed over 17.3 million annual global deaths attributed to cardiovascular diseases (CVDs). Additionally, individuals in North America, particularly in the U.S., reported elevated cholesterol levels, with approximately 43.0%, and 33.0% experiencing high blood pressure.
This pattern is foreseen to boost the demand for the product in addressing coronary heart diseases, hypertension, and cholesterol. The segment related to the brain, nervous system, and mental health is projected to exhibit the fastest CAGR during the forecast period. According to the World Health Organization (WHO), approximately 50 million individuals globally grapple with epilepsy, signifying a significant health issue. Additionally, in 2019, depression affected about 322 million people in the U.S. Notably, there has been a rise in the total number of individuals suffering from epilepsy in the U.S. over the past few years.
Regional Insights
North America dominated the largest market in 2023
The surge in obesity cases and lifestyle-related illnesses can be attributed to unhealthy dietary practices and the widespread availability of processed and Ready-To-Eat (RTE) foods. According to research conducted by the New York State Government in March 2019, approximately 610,000 people succumb to heart diseases annually in the U.S.
Omega-3 supplements find significant application in cardiovascular health, given that Coronary Heart Disease (CHD) stands as a leading cause of mortality among both men and women in North America. The evolving landscape of food, characterized by a 'transitioning face,' has given rise to functional foods and supplements, offering a myriad of health benefits beyond basic nutrition.
Consequently, there is an anticipated high demand for products like fortified foods and dietary supplements enriched with omega fatty acids in the regional market. The Asia Pacific region is poised for substantial growth, fueled by increased spending on health-enhancing products due to the rise in sports activities. Factors contributing to this growth include a surge in cases of mal-digestion and a growing geriatric population.
Moreover, in India, the escalating prevalence of lifestyle diseases such as diabetes, hypertension, obesity, and cardiovascular problems is expected to drive regional market growth. The increasing awareness of maintaining an active lifestyle is another factor propelling the demand for the product. The urban population in the country, characterized by robust disposable income, is increasingly adopting dietary supplements, further amplifying the demand for these products.
Key Market Players & Competitive Insights
The market is characterized by intense competition, with established players relying on advanced technology, high-quality products, and a strong brand image to drive revenue growth. These companies employ various strategies such as research and development, mergers and acquisitions, and technological innovations to expand their product portfolios and maintain a competitive edge in the market.
Some of the major players operating in the global market include:
- Aker BioMarine AS
- Arkopharma
- Bionova
- Carlson Laboratories
- GlaxoSmithKline plc
- i-Health, Inc.
- KD Pharma Group
- Luhua Biomarine (Shandong) Co., Ltd.
- Natrol LLC
- Nordic Naturals, Inc.
- NOW Foods
- NutriGold Inc.
- OmegaBrite
- Optimum Nutrition, Inc.
- Pharma Nord B.V
- Pharmavite LLC
- Reckitt Benckiser Group plc
- The Nature’s Bounty Co.
- VAYA Pharma
- Vital Choice Wild Seafood & Organics, SPC
Recent Developments
- In March 2023, Life Extension Introduces Innovative Gummy Bites Infused with Omega-3 Fish Oil.
- In August 2021, Subodh Uniyal, Agriculture Minister of Uttarakhand, Unveils Vegetarian Omega-3 Supplement Branded as RuVega.
Omega 3 supplements Market Report Scope
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Report Attributes |
Details |
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Market size value in 2024 |
USD 9.61 billion |
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Revenue forecast in 2032 |
USD 19.17 billion |
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CAGR |
9.0% from 2024 – 2032 |
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Base year |
2023 |
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Historical data |
2019 – 2022 |
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Forecast period |
2024 – 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
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Segments Covered |
By Form, By Source, By Functionality, By End-user, By Distribution Channel, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Customization |
Report customization as per your requirements with respect to countries, region and segmentation. |
FAQ's
Omega 3 supplements Market report covering key segments are form, source, functionality, end-user, distribution channel, and region.
Omega 3 supplements Market Size Worth $ 19.17 Billion By 2032 .
The global Omega 3 supplements market is expected to grow at a CAGR of 9.0% during the forecast period.
North America is leading the global market.
The key driving factors in Omega 3 supplements Market are Omega-3 Supplements Market is experiencing growth propelled by the rising consumer awareness of health benefits.
