by Omega-3 products provide health benefits such as reducing inflammation, lowering risk of heart diseases, boosting brain health, etc. Omega-3 fatty acids are essential fats that help support heart health, brain function, and joint comfort, but the body cannot produce them on its own, and thus they must be obtained through food or supplements.
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:
Increasing awareness regarding various health benefits of consuming omega-3 fatty acids such as reducing inflammation, lowering risk of heart diseases, boosting brain health, improving eye health, etc. is a major trend propelling the growth of omega-3 products market. Several health organizations and government bodies have promoted the consumption of fish and other food products rich in omega-3 through various campaigns highlighting their numerous health advantages. This has significantly increased consumers’ attention towards maintaining sufficient omega-3 levels in their bodies, driving the demand for omega-3 supplements globally.
SWOT Analysis
Strength: Omega-3 products provide various health benefits such as heart health, brain health, eye health etc. Increasing consumer awareness about benefits of omega-3 is driving the market growth.
Weakness: High prices of omega-3 supplements as compared to other vitamins and supplements. Supply chain disruption can impact the availability of raw materials.
Opportunity: Growing vegan and vegetarian population is increasing the demand for plant-based omega-3 products. Innovation in product offerings such as gummies, softgels etc. help in improving customer experience.
Threats: Stringent regulations associated with marketing and labeling of health supplements. Rising raw material prices can squeeze profit margins of players.
Key Takeaways
The Global Omega-3 Products Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to reach US$ 47500.55 Mn by 2023 growing at a CAGR of 7.5% through 2030.
Regional analysis comprises Asia Pacific dominates the global market and is expected to maintain its dominance over the forecast period. Rising health consciousness coupled with growing middle-class population is fuelling the demand for omega-3 supplements in the region. North America also holds a significant share in the global omega-3 products market supported by high prevalence of lifestyle diseases and awareness regarding benefits of omega-3.
Key players operating in the omega-3 products 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. Players are focusing on new product launches to cater to evolving consumer preferences. They are also expanding their regional footprint through acquisitions and partnerships.
*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.
