FELTON, California, September 10, 2018 /PRNewswire/ --
The global omega 3 supplements market size is expectedto reach a value of USD 57.06 billion by 2025. It is anticipated to expand at a CAGR of over 6.0% during the forecast period. The market is majorly driven by exponential demand for dietary supplements from developed and
In India, heart diseases are one of the top causes of mortality, accounting for 1.7 million deaths in 2017, which is more than 53% from 2005. Additionally, Chronic Obstructive Pulmonary Disease (COPD) caused 848,000 deaths in 2016, up by 22.7% compared to 2005. Such an increase in prevalence of heart diseases is expected to drive demand for dietary supplements propelling market for omega 3 supplements.
Rising cases of chronic diseases are expected to have a positive impact on the omega 3 supplement market. According to the World Health Organization (WHO), over 14 million people between the age of 30 to 70 die every year due to various chronic diseases. Rising government support and initiatives for affordable pharmaceutical drugs is expected to propel demand for omega 3 based pharmaceuticals in the forthcoming years.
Browse full research report with TOC on "Global Omega 3 Supplement Market Size and Forecast By Source (Fish Oil and krill Oil), By Application (Food & Beverages, Nutritional Supplement, Pharmaceuticals, Pet & Animal Food, and Clinical Nutrition) And Trend Analysis, 2014 - 2025" at: https://www.hexaresearch.com/research-report/omega-3-supplement-market
Increasing obesity coupled with enhanced healthcare infrastructure in developing nations such as China, India, South Africa, and Brazil is expected to drive product demand over the forecast period. Rising consumer willingness to pay for costly nutraceuticals and supplements owing to health concerns is anticipated to propel the market for omega 3 supplements. The market is highly competitive in nature with manufacturers looking to develop low cost products to fulfil rising demand from emerging economies.
Asia Pacific is expected to emerge as the fastest growing market for omega 3 supplements. Japan is one of the largest sardine fishing countries, which is expected to propel regional growth in near future. The region accounted for approximately 37% of market share in terms of revenue in 2016 and is expected to expand at a CAGR of over 10% by 2025. Increasing population in China and India is projected to drive regional demand for infant formulas. In addition, demand for packaged baby nutrition formulas owing to growing percentage of working women coupled with rising disposable income of parents is anticipated to augment regional market over the forecast period.
Major players in the omega 3 supplements market are concentrating on new product development and business expansion to improve their share within the global market. Manufacturers are concentrating on developing application-specific products to reach untapped markets. Additionally, they are collaborating with other companies to create new opportunities for their existing products. Majority of companies are vertically integrated in the production of fish and krill oil for omega 3 fatty acid and its supplements. This scenario provides the companies with an enhanced product portfolio accounting for increased sales.
In addition, companies are involved in the production of advanced omega3 supplements for multiple health problems such as heart diseases, skin and hair care, and joint problems among others. For instance, since 2016, Golden Omega, an operating unit of Corpesca S.A. which is the largest seafood exporter of Latin America; has started its own fish oil manufacturing plant to derive specialty omega 3 products. The company is majorly focusing on U.S., Japan, Korea, China, and European Union (EU).
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Hexa Research has segmented the omega 3 supplements market report based on source, application and region:
Segmentation by source
Segmentation by application
Food & Beverage
Pet & Animal Feed
Segmentation by region
Central & South America
Middle East & Africa
Key players analyzed:
Nordic Naturals Inc.
Reckitt Benckiser Group plc
Pharma Nord B.V.
I Health Inc.
Green Pasture Products, Inc.
Aker BioMarine AS
KD Pharma Group
Optimum Nutrition Inc.
Vital Choice Wild Seafood & Organics, SPC.
53 Formulas Inc. (Nutrusta)
Tranquility Labs LLC
Onnit Labs, LLC
DR Joseph Mercola
Dr C's Omega 3's
About Hexa Research
Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.
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