Omega 3 Supplements Market Size, Share & Trends Report

Omega 3 Supplements Market Size, Share & Trends Analysis Report By Source (Fish Oil, Krill Oil), By Form (Soft Gels, Capsules), By Functionality, By End-user, By Distribution Channel, By Region, And Segment Forecasts, 2020 - 2027

  • Published Date: Dec, 2020
  • Base Year for Estimate: 2019
  • Report ID: GVR-1-68038-818-3
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 210

Report Overview

The global omega 3 supplements market size was valued at USD 5.18 billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 8.4% from 2020 to 2027. Increasing instances of sedentary lifestyle among the young population have resulted in a rising number of chronic diseases, such as strokes, arthritis, cancer, and coronary heart diseases, which is expected to propel the product demand. Omega-3 fatty acids are crucial for the healthy growth and development of the human body. Omega-3 fatty acids are known for decreasing the risk of abnormal heartbeats or arrhythmias, which can even cause sudden death of the patient. It also helps in reducing triglyceride levels, slowing the growth rate of atherosclerotic plaque, and lowering blood pressure levels.

U.S. omega 3 supplements market size, by functionality, 2016 - 2027 (USD Million)

The U.S. dominated the North American market and accounted for more than 77.0% share of the revenue in 2019. The American Heart Association (AHA) recommends people in the region to eat fish, particularly cold-water fish, twice a week to maintain optimum omega 3 levels in the diet. Growing consumer knowledge regarding product benefits is boosting the industry's growth.

The rapid socio-economic development that has taken place over the decades has resulted in increased cases of heart diseases, cancer, and diabetes across various segments of the population. Growing health consciousness has resulted in consumers preferring dietary supplements, such as omega 3, which keeps the heart healthy, helps in maintaining optimum health of the infant, aids in cancer prevention, and offers many other health benefits.

Brand name, nutritional value, and safety of the products are some of the factors that influence the consumer buying pattern. Awareness through various forms of media, including electronic and print, about the benefits offered by omega 3-based supplements, is further likely to influence consumer buying behavior.

Growth in fish consumption is likely to continue, especially in developing countries. Omega 3 supplements are primarily produced from fish oil, and uneven capture of fish and growing demand for fish from other application sources reduce their availability at lower prices for fish oil-producing companies, which, in turn, acts as a restraint for the market.

Source Insights

Fish oil-based supplements led the market and accounted for more than 63.0% share of the global revenue in 2019. Fish oil is a traditional source of omega 3. Traditionally, COD liver-based fish oil has been utilized to treat problems, such as pain in joints, and for the betterment of the eyes. The availability of various types of fish, which contain different vitamins and human body essentials, is facilitating the omega 3 supplement manufacturers to offer diversified products.

Increasing environmental, metal, & hazardous pollutants in fish are making them toxic for utilization, which is expected to restrain the growth of the segment. Furthermore, increasing regulations on the fishing activities in order to protect the fish species are expected to hamper the raw material supply for the industry.

Rising consumer inclination towards plant-based alternatives is expected to drive the demand for algae oil-based supplements during the forecast period. The growing vegan population, coupled with rising consumer awareness regarding the product benefits, is expected to boost the segment growth. Tablet, soft gels, capsules, liquid, and gummy forms of spirulina and chlorella are the popular algae oil-based dietary supplements.

Form Insights

Soft gels led the market with more than 41.0% share of the global revenue in 2019. Soft gels are an oral dosage form of omega 3 supplements that consist of a gelatin-based shell surrounding a liquid fill. Soft gels are easier to swallow as compared to tablets and capsules as they do not have an unpleasant odor and are tasteless. Enhanced absorption and bioavailability offered by them, which results in fast disintegration, immediate nutrient delivery, and quicker action, are the key factors driving their demand.

These supplements, derived from fish oil and others, have bad taste, aroma, and odor and can be easily delivered with soft gel form. Apart from omega 3 supplements, other dietary supplements including vitamin A, vitamin D3, vitamin E, carotenoids, lycopene, and omega-3 fatty acids are also offered in soft gel form. The application of soft gels is projected to witness significant growth owing to their smooth texture and taste masking capabilities.

Capsules are shells or containers made up of gelatin, which contain powder or spheroid form drugs inside them. Moreover, apart from gelatin, which is an animal-derived casing material, plant-derived casing materials including hydroxypropyl methylcellulose and polysaccharide matrix are also utilized for making capsules. Plant-based casing materials are expected to witness a considerable demand due to the growing vegan population across the globe.

Furthermore, gummies, similar to candies, are a chewable form of omega 3 supplements that are enriched with nutrients. These were initially formulated for adults and children unwilling to take pills but later became popular among other end users as a result of their easy assimilation and visual appeal. Moreover, the gummy form of the product is convenient to take and is filled with high quantities of nutrients.

Functionality Insights

Cardiovascular health led the market and accounted for more than 37.0% share of the global revenue in 2019. Concerning cardiovascular disease prevention, omega 3 fatty acids help maintain good HDL cholesterol, stabilize heart rhythms, reduce harmful LDL cholesterol in the blood, and lower blood pressure. All these health benefits are expected to drive their demand in the cardiovascular health segment.

As per the American Heart Association (AHA), in 2017, over 17.3 million people die per year globally because of cardiovascular diseases (CVDs). Moreover, people in North America, especially in the U.S., reported higher cholesterol levels of about 43.0% and 33.0% of high blood pressure. This trend is expected to drive the demand for the pharma-grade product for treating coronary heart diseases, hypertension, and cholesterol.

The brain, nervous system, and mental health segment is expected to emerge as a significantly growing segment over the forecast period. According to the WHO, about 50 million people worldwide suffer from epilepsy, making it a major health concern. Furthermore, depression has affected about 322 million in 2017 in the U.S.

Additionally, over the past few years, the total number of people suffering from epilepsy has increased in the U.S. For instance, per the research conducted by the Centers for Disease Control and Prevention (CDC), the number of adults suffering from epilepsy in 2018 was 3 million. According to the Anxiety and Depression Association of America, over 18.1% of the U.S. population suffer from anxiety disorders every year. The high prevalence of various mental disorders across the U.S. is anticipated to drive the demand for omega 3 supplements over the upcoming years.

Distribution Channel Insights

The over-the-counter (OTC) distribution channel segment led the market and accounted for more than 76.0% share of the global revenue in 2019. Initiatives related to the introduction of favorable policies, along with the infrastructural development in the healthcare sector by most governments worldwide, are projected to influence the expansion and popularity of omega 3 supplements through the OTC channel.

Key players in the industry are capitalizing on shifting consumer preferences. The sales of omega 3 supplements through OTC distribution channels are anticipated to witness a steady growth because of the rising consumer awareness regarding the nutritional value and health benefits of these products.

Self-medication for the treatment of gastrointestinal and immunity-related issues is another key factor driving the demand for dietary supplements through the OTC distribution channel. The convenience of direct purchase and cost-effectiveness are expected to create various opportunities for omega 3 supplement manufacturers.

Furthermore, strict regulations by the governing bodies and less awareness among individuals are expected to augment the demand for omega 3 supplements through the prescribed distribution channel. Moreover, increasing R&D expenditure, coupled with funding from the public and private sectors, is expected to boost the demand for omega 3 supplements over the forecast period.

End-user Insights

The adult segment led the market and accounted for more than 43.0% share of the global revenue in 2019. Growing consumption of omega 3 supplements among working individuals to maintain a healthy lifestyle is projected to remain a key driving factor for the segment. Furthermore, rising awareness regarding healthy diet among working individuals and sports athletes to maintain the nutritional balance in their bodies is expected to expand the scope of omega 3 supplements over the forecast period.

Furthermore, women are more likely to incorporate supplements into an established health and wellness regimen as they tend to be more proactive about preventive health. Besides, omega 3 fatty acids help in fighting anxiety and depression, reducing the symptoms of metabolic syndrome, fighting inflammation, and improving mental disorders. These health benefits are expected to attract the adult population towards the product over the forecast period.

Global omega 3 supplements market share, by end-user, 2019 (%)

The children segment is expected to witness significant growth over the forecast period owing to the increasing inclination towards optimal disease-free health, high purchasing power, and willingness to spend on health and wellness products. Besides, growing concerns of eye health among children are likely to favor the segment growth in the coming years.

The risk of developing lifestyle diseases, such as diabetes, Alzheimer’s disease, dementia, and cognitive function, is higher among consumers of this age group, owing to which they rely on omega 3 supplements for disease management. Moreover, owing to the medicinal properties of these supplements, they are used in disease prevention. This ongoing trend of preventive healthcare among the children is expected to fuel the segment growth.

Regional Insights

North America dominated the market and accounted for over 37.0% share of the global revenue in 2019. North America has a vast population facing increased obesity levels and lifestyle-related diseases on account of their dietary habits and availability of several processed and ready-to-eat foods, which are not fundamentally benefiting their health. The ‘transitioning face’ of food has evolved into functional foods and supplements, which can provide numerous health benefits beyond basic nutrition.

As per the research conducted by the New York State Government in March 2019, about 610,000 people die from heart diseases in the U.S. every year. Cardiovascular health is one of the primary application segments of omega 3 supplements as coronary heart disease (CHD) is a primary cause of death among several men and women in North America. Therefore, products such as fortified and enhanced foods and dietary supplements enriched with omega fatty acids are expected to expand the scope of omega 3 supplements over the forecast period.

Asia Pacific is anticipated to witness significant demand for the product in the years to come on account of the rising expenditure on health-enhancing products in the light of physical fitness requirements and increasing sports activities. Other factors contributing to the growth of the Asia Pacific market are rising healthcare costs, increasing cases of mal-digestion, and the growing geriatric population.

Additionally, in India, lifestyle changes among the population are causing a rise in the prevalence of lifestyle diseases, such as diabetes, blood pressure, obesity, and cardiovascular problems. Thus, the urban population with strong disposable income is increasingly opting for dietary supplements to avoid the prevalence of the aforementioned diseases. Increasing preference for an active lifestyle is another factor driving the demand for omega 3 supplements in India.

Key Companies & Market Share Insights

The industry is highly fragmented and is characterized by intense competition, with both public and privately-held market players focusing on innovation to stay competitive. Public companies in the industry are proactive in initiating strategies to push the adoption of their products in the global market. In the near term, privately-held market participants are anticipated to follow suit, given the rising number of players within the industry.

Key players are extensively investing in research & development activities and capacity expansion to introduce novel omega 3 supplements to gain a greater share of the market. For instance, in October 2019, Aker BioMarine announced the acquisition of a patent for concentrated krill oils with more than 50% phospholipids. Moreover, in October 2020, Aker BioMarine announced the establishment of a new distribution hub in Chennai, India. The new distribution center is expected to strengthen the position of the company in India. Some prominent players in the global omega 3 supplements market include:

  • 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

  • GlaxoSmithKline plc

  • Natrol LLC

  • Carlson Laboratories

  • OmegaBrite

  • Optimum Nutrition, Inc.

  • VAYA Pharma

  • Vital Choice Wild Seafood & Organics, SPC

  • Bionova

  • The Nature's Bounty Co.

  • Arkopharma

Omega 3 Supplements Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 5.58 billion

Revenue forecast in 2027

USD 9.88 billion

Growth Rate

CAGR of 8.4% from 2020 to 2027

Base year for estimation

2019

Historical data

2016 - 2018

Forecast period

2020 - 2027

Quantitative units

Revenue in USD million/billion and CAGR from 2020 to 2027

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Source, form, functionality, end-user, distribution channel, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Canada; Mexico; Germany; U.K.; Italy; Norway; Spain; Netherlands; France; China; India; Japan; Australia; New Zealand; Brazil; Argentina; UAE

Key companies profiled

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; GlaxoSmithKline plc; Natrol LLC; Carlson Laboratories; OmegaBrite; Optimum Nutrition, Inc.; VAYA Pharma; Vital Choice Wild Seafood & Organics, SPC; Bionova; The Nature's Bounty Co.; Arkopharma

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Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global omega 3 supplements market report on the basis of source, form, functionality, end-user, distribution channel, and region:

  • Source Outlook (Revenue, USD Million, 2016 - 2027)

    • Fish Oil

    • Krill Oil

    • Algae Oil

    • Others

  • Form Outlook (Revenue, USD Million, 2016 - 2027)

    • Tablets

    • Capsules

    • Soft gels

    • Others

  • Functionality Outlook (Revenue, USD Million, 2016 - 2027)

    • Cardiovascular Health

    • Brain, Nervous System & Mental Health

    • Eye Diseases

    • Diabetes

    • Others

  • End-user Outlook (Revenue, USD Million, 2016 - 2027)

    • Adults

    • Geriatric

    • Pregnant Women

    • Children

    • Infants

  • Distribution Channel Outlook (Revenue, USD Million, 2016 - 2027)

    • OTC

      • Supermarkets/ Hypermarkets/Food Stores

      • Drug Stores & Pharmacies

      • Online Retailers

      • Others

    • Prescribed

  • Regional Outlook (Revenue, USD Million, 2016 - 2027)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • U.K.

      • France

      • Netherlands

      • Italy

      • Spain

      • Norway

    • Asia Pacific

      • China

      • India

      • Japan

      • Australia

      • New Zealand

    • Central & South America

      • Brazil

      • Argentina

    • Middle East & Africa

      • UAE

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