Omega-3 Supplements Market Size 2024, Industry Share, Key Findings, Company Profiles, and Growth Strategy | Nordic Naturals Inc., NutriGold Inc., Reckitt Benckiser Group plc, Pharma Nord B.V.

Global Omega-3 Supplements Market presents a variety of new trends that have a significant impact on market growth dynamics as well as the most recent industry knowledge. According to the most recent projection, global growth will reach its lowest point this year at 2.8% before edging up to 3.0% in 2024. Although more slowly than expected, the rate of global inflation will drop from 8.7% in 2022 to 7.0% this year and 4.9% by 2024. Notably, growth rates for emerging markets and developing economies have increased significantly in many cases, from 2.8 percent in 2022 to 4.5% this year.

The global omega-3 supplements market size was US$ 6.1 billion in 2021. The global omega-3 supplements market is forecast to grow to US$ 12.1 billion by 2030 by registering a compound annual growth rate (CAGR) of 9.1% during the forecast period from 2022 to 2030. 

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Omega-3 can be found in plants, nut oils, fish, and other marine foods like krill and algae. It is an essential requirement of the human body that helps brain to function properly.

Factors Influencing the Market
The global omega-3 supplements market is majorly driven by the rising prevalence of diseases caused by the deficiency of omega-3 fatty acids.
Apart from that, the rising aging population and the growing incidence of chronic diseases will also prompt the growth of the market.
The introduction of new revenue-generating strategies implemented by large corporations will benefit the market during the forecast period. Further, the cost-effectiveness and convenience of direct purchase will offer lucrative growth opportunities to the manufacturers.
Other factors, such as growing R&D expenditure, combined with funding from the public and private sectors, are forecast to benefit the market. Apart from that, new product launches are expected to escalate the growth of the market. For instance, KD Pharma brought its new Kardio3 to the market in 2019. It is a mixture of omega-3, vitamin K2, and phytosterols that keeps lipids in check. It also promotes heart and bone health.

Regional Analysis
North America is forecast to dominate the omega-3 supplements market during the forecast period. The growth of the market is attributed to the rising awareness related to the health benefits of omega-3 supplements. Further, the Asia-Pacific omega-3 supplements market is forecast to record potential growth due to the rising consumption of fish oil and growing health consciousness among people. Further, the growing krill fish cultivation, majorly in South China Sea and the Indian Ocean, will bring untapped growth opportunities for the omega 3 supplements market during the study period.

COVID-19 Impact Analysis
The COVID-19 outbreak significantly highlighted the need to focus on health, which became an opportunity for the omega-3 supplements market. People suddenly became more health-conscious and started adopting healthy practices to strengthen the immune system. Since omega-3 plays an essential role in keeping the body healthy and fit, the demand for supplements increased substantially. Further, the market witnessed major trends such as rising demand for gummies with innovative flavours, which has been beneficial for the omega 3 supplements market.

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Competitors in the Market
• Nordic Naturals Inc.
• NutriGold Inc.
• Reckitt Benckiser Group plc
• Pharma Nord B.V.
• i-Health Inc.
• Aker BioMarine AS
• Luhua Biomarine (Shandong) Co., Ltd.
• Pharmavite LLC
• KD Pharma Group
• NOW Foods
• Other Prominent Players

The report furnishes an intricate comprehension of each segment, delivering potential estimations for principal applications and insights into emerging prospects. Every regional market is meticulously scrutinized to ascertain its potential for growth, development, and demand in the forthcoming years.

As of the end of 2022, the Omega-3 Supplements industry experienced notable growth in its workforce. Starting in January, employment within the Omega-3 Supplements sector exceeded its pre-COVID levels, resulting in an expansion of payrolls by over 15,000 employees throughout the course of the year. The global Omega-3 Supplements output demonstrated a remarkable increase of 5.2% during 2021, primarily attributed to a widespread economic upswing and a surge in demand for commodities. However, the momentum shifted in 2022, with the global industrial sector’s production contracting. This reversal followed a robust expansion in 2021, fueled by altered consumer spending patterns and substantial fiscal support.

Forecasts indicate that the global Omega-3 Supplements output is set to rise by approximately 2.9% in 2023. This projection is underpinned by the gradual recovery of production in Western Europe from its previous troughs, as well as a rebound in output across the Asia/Pacific region. Maintaining its dominant position, China, accounting for nearly 45% of the global Omega-3 Supplements market, remains both its largest producer and consumer. Remarkably, China’s market share has surged since 2010, when it stood at around 26%. This ascent has led to a substantial contribution to the nation’s GDP. Notably excelling as a top exporter, China leads in various sectors, including silicon, PVC, and several specific segments of the Omega-3 Supplements market.

Market Segmentation

The global omega 3 supplements market segmentation focuses on Source, Application, End-User, and Region.

By Source
• Fish Oil
• Krill Oil
• Algae Oil
• Others

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By Application
• Food & beverage
• Nutraceutical supplement
• Pharmaceutical
• Infant formula
• Others

By End-user
• Adults
• Geriatric
• Pregnant Women
• Children
• Infants

By Region
● North America
o The U.S.
o Canada
o Mexico
● Europe
 Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
 Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America

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Table of Contents:

Chapter 1: Introduction to the Global Omega-3 Supplements Industry

Chapter 3: Dynamics of the Market

Chapter 4: Profiles of Leading Companies

Chapter 5: Competition in the Global Omega-3 Supplements Market among Players

Chapter 6: Market Size across Global Regions

Chapter 7: Application Segments in the Global Market

Chapter 8: Segment Analysis of the Global Omega-3 Supplements Industry

Chapter 9: Market Chain, Sourcing Strategies, and Downstream Buyers

Chapter 10: Strategies and Key Policies by Distributors/Suppliers/Traders

Chapter 11: In-depth Analysis of Key Marketing Strategies by Market Vendors

Chapter 12: Evaluation of Market Impact Factors

Chapter 13: Forecasted Global Omega-3 Supplements Market Size (2024-2032)

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Key Questions Market Research and Analysis Report

• What is the current market size, both in terms of value and volume?
• What is the historical growth rate of the market, and what are the projected growth rates for the future?
• Who are the major players in the market, and what is their market share?
• What are the market trends and dynamics influencing the industry?
• What are the key drivers of market growth?
• What are the challenges and barriers faced by market participants?
• What are the emerging opportunities in the market?
• What is the competitive landscape of the market?
• What are the consumer preferences, behaviors, and buying patterns within the market?
• What is the market segmentation, and how are different market segments performing?
• What are the pricing trends and strategies in the market?
• What are the distribution channels and their effectiveness in reaching the target audience?
• What are the regulatory and legal factors impacting the market?

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