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According to a new report released by Grand View Research, the increasing incidents of sedentary lifestyles among the young population has resulted in an increasing number of chronic diseases such as stroke, arthritis, cancer, and coronary artery disease that are expected to drive the product’s demand.
The globe Omega-3 Nutritional Supplements Market Size is expected to reach $ 9.88 billion by 2027, according to a new report from Grand View Research, Inc. It is expected to be around CAGR of 8.4% of 2020 to 2027. The demand for omega-3 supplements is expected to be driven by the increased adoption of the product to meet daily nutritional needs and optimal organ health by the geriatric populations in developed economies such as the US, Canada, UK and France.
In addition, the COVID-19 outbreak from early 2020 led to heightened consumer awareness of the importance of products for immunity and for boosting immunity, which is expected to increase the demand for various omega fatty acid products. It is expected that the increased uptake of gum form products with novel flavors will increase product penetration in children in the coming years.
Docosahexaenoic acid (DHA) is an omega-3 fatty acid that contains over 93.0% of the omega-3 fats in the retina and 97.0% in the human brain. The increasing demand for DHA supplements for pregnant women is expected to drive the market due to the lack of adequate DHA in the diet. In addition, growing demand for omega-3 DHA-rich nutritional supplements from non-breastfeeding mothers is expected to drive product demand over the forecast period.
Rising chronic diseases such as stroke, arthritis, coronary artery disease and cancer are expected to drive demand for omega-3 supplements in the years to come. According to the World Health Organization (WHO), over 14 million people between the ages of 30 and 70 die each year from certain chronic diseases. Rising government support to provide consumers with low-cost preventive medicines is forecast to fuel demand for omega-3 supplements over the forecast period.
Omega-3 Supplements Market Report Highlights
• In terms of source, the krill oil-based omega-3 supplements are expected to grow at the fastest CAGR of 11.1% over the forecast period due to the growing demand for eicosapentaenoic acid (EPA) and DHA-based supplements among consumers worldwide
• Based on functionality, the Cardiovascular Health segment accounted for over 37.0% of total sales in 2019. The increasing prevalence of cardiovascular disease as a result of the slow and inactive lifestyle, especially in the 30 to 40 age group, and fluctuating eating habits are expected to fuel segment growth over the next few years
• The market in China is expected to see significant growth in the coming years due to the increasing purchasing power of consumers. The easy online availability of these dietary supplements in the country has also boosted demand in the country
• Strong mass distribution channels, online sales, and a growing number of standalone mass brands from multiple companies, including Optimum Nutrition; Herbalife International of America, Inc .; Now Foods. and Amway are the key factors expected to drive demand for fish oil-based omega-3 supplements in the years to come.
• In September 2020, Aker BioMarine launched a new supply ship at Yantai Shipyard, China. The launch of the new ship has assured those involved that the lockdown due to the COVID-19 pandemic has not affected the company.
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Omega-3 Nutritional Supplements Market Segmentation
Grand View Research has segmented the global omega-3 nutritional supplement market by source, form, functionality, end-user, distribution channel, and region:
Omega-3 Supplements Outlook (Revenue, $ Mn, 2016-2027)
• fish oil
• Krill oil
• algae oil
Omega-3 Nutritional Supplements Outlook (Revenue, USD Million, 2016-2027)
• Soft gels
Omega-3 Supplements Feature Outlook (Revenue, $ Mn, 2016-2027)
• Cardiovascular health
• Brain, nervous system and mental health
• eye diseases
Omega-3 Supplements Consumer Outlook (Revenue, $ Mn, 2016-2027)
• Pregnant woman
Outlook for the sales channel Omega 3 Supplements (sales, USD million, 2016-2027)
• Supermarkets / hypermarkets / grocery stores
• Drug stores and pharmacies
• Online retailer
Omega 3 complements regional outlook (sales, USD million, 2016-2027)
• North America
• The USA
• The UK
• Asia Pacific
• Central and Central America
• Middle East and Africa
• United Arab Emirates
List of Major Players in the Omega-3 Supplements Market
• Nordic Naturals, Inc.
• NutriGold Inc.
• Reckitt Benckiser Group plc
• Pharma Nord BV
• i-Health, Inc.
• Aker BioMarine AS
• Luhua Biomarine (Shandong) Co., Ltd.
• Pharmavite LLC
Fill out the pre-order request form for the report @ https://www.grandviewresearch.com/inquiry/4401/ibb
Browse related reports:
Omega-3 marketReport on size, proportion and trend analysis by type (EPA, DHA, ALA), by source (sea spring, plant source), by application, by region and segment forecasts, 2020-2027.
Krill oil marketReport on size, proportion and trend analysis by product (liquids, softgels, capsules), by application (dietary supplements, animal feed, functional foods and beverages), by region and segment forecasts, 2020-2027.
Via Grand View Research
Grand View Research is a US and India based market research and advisory firm. It is headquartered in San Francisco. We provide business insights, syndicated research reports, and bespoke research reports to both large and small and medium-sized businesses. Our database offers thousands of statistics and detailed analysis on more than 45 industries. Grand View Research’s extensive database is used by Fortune 500 companies to understand both regional and global business environments.
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