by The global DHA Supplements Market is estimated to be valued at US$ 1586.6 Mn or Billion in 2023 and is expected to exhibit a CAGR of 7.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
DHA supplements contain docosahexaenoic acid, an omega-3 fatty acid that benefits brain and eye health. DHA plays an important role in development and function of brain and retina. It is important for pregnant women and children for physical and cognitive development. Regular consumption of DHA supplements helps improve cardiovascular health, cognitive functions and lower risk of alzheimers and depression.
Market key trends:
One of the key trends in the DHA supplements market is rising popularity of vegetarian DHA products derived from algal oil. This is due to increasing demand for plant-based and vegan dietary supplements. Algal DHA is a sustainable source and does not rely on fishing or aquaculture. Another major trend is growth in R&D activities focused on developing innovative delivery formats such as gummies, softgels and beverages to increase customer appeal and compliance for DHA supplement consumption especially among children.
Segment Analysis
The DHA Supplements Market Size is dominated by the fish oil segment owing to high presence of omega-3 fatty acids. Fish oil segment accounts for over 60% of the total revenue share in DHA supplements market owing to its health benefits in improving brain and heart health. Algal oil segment is expected to witness highest growth over the forecast period owing to rising vegan population and sustainability concerns associated with fish oil extraction.
Key Takeaways
The global DHA Supplements market is expected to witness high growth, exhibiting CAGR of 7.0% over the forecast period, due to increasing health awareness among consumers about nutritional benefits of DHA.
Regional analysis
North America dominates the global DHA Supplements market with a share of over 35.0% in 2023 owing to high awareness levels regarding cognitive benefits of DHA among consumers in the US and Canada. Asia Pacific is expected to exhibit fastest growth over the forecast period owing to growing middle class population and increasing healthcare expenditure in major countries like India and China.
Key players
Key players operating in the DHA Supplements market are BASF Corporation, DSM, Cellana Inc., JC Biotech Pvt.Ltd, FEMICO, Croda International Plc, Pharma Marine AS, Clover Corporation, Omega Protein Corporation, Kingdomway Nutrition, Inc., ECPlaza Network Inc., Bizen Chemical Co.LTD, Stepan Company, Novotech Nutraceuticals, Inc., Arjuna Natural, Jiangsu Auqi Marine Biotechnology Co., Ltd., and Aker BioMarine. These players are focusing on new product launches and expansion strategies to gain leading position in the global market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
