Omega 3 supplements market to Surge at 8.48% CAGR, which is anticipated to reach USD 12.67 billion by 2030.
CRI Report has released a report titled “Omega 3 supplements market – Analysis of Market Size, Share & Trends for 2020 – 2030 and Forecasts to 2030” which is anticipated to reach USD 12.67 billion by 2030. According to a study by CRI Report, the market is anticipated to portray a CAGR of 8.48% between 2020 and 2030. According to the report, the increasing consumer awareness about the health benefits of omega 3 supplements, combined with an increase in the number of chronic diseases such as coronary heart disease and strokes, arthritis, and cancer, including prostate and colon cancer, is expected to be the major driving factor of the Omega 3 Supplement market.
The market report on Omega 3 supplements market includes in-depth insights as:
- The estimated value of the market was USD 5.62 billion in the year 2020.
- Region-wise, the market in Asia Pacific which held the largest market share in the year 2019, emerged as a key market for the Omega 3 supplements market.
- Based on Source, the Fish oil category emerged as a key segment in the Omega 3 supplements market.
- Based on Application, the Infant formula segment emerged as a key segment in the Omega 3 supplements market.
- Key players are likely to focus on product innovations and expansion through mergers to retain their positions in developed markets.
“The market is projected to be driven by growing demand for Omega 3 Supplements due to an aging population and the incidence of chronic diseases. The influence of newer revenue-generating strategies implemented by large corporations. The rising number of regulatory approvals has had the greatest influence on the total market’s growth in recent years, among all variables.”, according to this report
Plants, nut oils, and fish, such as tuna, salmon, and halibut, as well as other marine foods like krill and algae, contain omega 3 fatty acids. Omega 3 fatty acids are a kind of essential fatty acid that is required for human health. These fatty acids are essential for brain function as well as human growth and development. Risk of Chronic illnesses such as cancer, heart disease, and arthritis are all reduced when omega 3 is consumed.
Omega 3 supplements market is segmented by Source into Fish Oil, Krill Oil, Algae Oil, and Others. Among these, the Fish oil category is expected to hold the highest CAGR in the forecast period. The largest source category of the global omega 3 supplement market is projected to be fish oil. Fish include a lot of vitamins and minerals that are good for the human body. The industry is projected to increase due to the numerous benefits provided by fish oil. Furthermore, the American Heart Association suggests eating fish twice a week to meet vitamin and mineral requirements.
Key Players in the Market
Some of the key players operating in the Omega 3 supplements market are 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.
Get Valuable Insights into Omega 3 supplements market
In the new report, CRI Report thrives to present an unbiased analysis of the Omega 3 supplements market that covers the historical demand data as well as the forecast figures for the period, i.e., 2020-2030. The study includes compelling insights into growth that is witnessed in the market. The market is segmented by Source into Fish Oil, Krill Oil, Algae Oil, Others. By application into Food & Beverage, Nutraceutical supplement, Pharmaceutical, Infant formula, and Others. By End-user into Adults, Geriatric, Pregnant Women, Children, Infants. Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East, and Africa.
