The global omega 3 market is valued at US$ 9.3 billion as on 2023, and is expected to hit a valuation of US$ 22.02 billion by 2033. The market is expected to grow at a CAGR of 9% during the forecast period.
The consumption of omega 3 has improved the condition of heart for a lot of patients who were having high levels of triglycerides and BP. This is expected to increase the demand for omega 3 during the forecast period.
Furthermore, the healthcare experts have also pointed out that the consumption of omega 3 rich food also avoids the formation of blood clot.
Moreover, even the dermatologists recommend the adoption of omega 3. It is because of the fact that these help in moisturizing the skin, and avoid the scenario of psoriasis. This might as well surge the sales of omega 3 during the forecast period.
Apart from that, even the nutritionists have been laying a lot of emphasis to educate people regarding the benefits of omega 3. Therefore, they have recommended certain people to make it a part of their daily diet. This might have a positive influence on the omega 3 adoption trends.
One of the most important benefits of omega 3 is that it is known to hamper the growth of cancer cells. Thus, as a way of precaution, a number of people started consuming them.
Moreover, even the manufacturers who are operating in this niche are carrying out a lot of promotional activities to convey the USP of their products. All this would certainly surge the adoption of omega 3.
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Thus, from the insights provided by FMI, it can be inferred that “a number of health benefits, coupled with the intense marketing activities carried out by manufacturers are expected to surge the omega 3 market share during the forecast period.”
Key Takeaways:
The omega 3 market is projected to grow at a CAGR of 9% during the period 2023-2033.
As on 2023, the market holds a valuation of US$ 9.3 billion.
By 2033, the market is expected to hit a valuation of US$ 22.02 billion.
On the basis of regional analysis, North America is expected to be the largest omega 3 market during the forecast period. The USA is currently the largest market in North America, and is driven by a large number of heart patients.
Asia Pacific is expected to be the fastest growing market. Japan is expected to be driven by a number of patients who suffer from ischemic heart disease. South Korea is expected to be driven because of a surging number of cases pertaining to stroke and Alzhmeir’s disease.
Europe is expected to be one of the most significant markets during the forecast. Rising cases of depression and anxiety is expected to drive the Europe market.
On the basis of type, the DHA segment is expected to have the highest market share.
On the basis of source, the marine category is expected to hold the largest omega 3 market share.
On the basis of end use, the nutraceutical and supplement sector is expected to have the largest market share.
Competitive Landscape
The omega 3 market is currently witnessing a number of mergers within key players, and also with the players belonging to another niche. Apart from that, the focus is also on establishing strategic partnerships to broaden the scope of operation.
Some of the recent developments in the omega 3 market are:
In September 2022, Reckitt launched Ignite, which is the new offline innovation hub.
In February 2022, Pharmvita’s Uqora launched New Vulva Wash.
Information Source: https://www.futuremarketinsights.com/reports/omega-3-market