The global omega 3 supplements market is expected to reach USD 57.07 billion by 2025, according to a new report by Grand View Research, Inc. Omega 3 supplements market is anticipated to witness a significant growth on account of high application scope coupled with increasing demand from infant formula.
Numerous factors such as urbanization and government efforts to educate consumers and provide superior healthcare services are likely to fuel the utilization of omega 3 based products. In addition, increased consumer willingness to spend is anticipated to provide a positive outlook to the omega 3 supplements market.
Increasing opportunities from the sports nutrition market due to rising preference for leading an active lifestyle coupled with growing awareness regarding omega-3 benefits are likely to play a significant role in driving the market growth. Companies such as Coromega offer combo products to serve the sports industry.
Fish oil segment was valued at USD 27.60 billion in 2016 on account of early adoption to treat joint pain and other medical conditions
Anchovy accounted for the largest market share in 2016 and is expected to witness a CAGR of 6.0% owing to abundant & easy availability of fish and low mercury levels
Salmon oil accounted for a share of 3.3% in 2016 and is expected to witness a considerable growth over the forecast period owing to requirement of relatively less time for the production of oil from salmon as compared to other fish.
Central & South America accounted for a share of 2.5% of the global omega 3 supplements demand in 2016 due to the growing penetration of pharmaceutical products and increasing income levels of consumers
Research & development and expansion are the key strategies that are being adopted by the players to strengthen their position in the market. Companies are continuously trying to develop application-specific products in order to expand their market scope.
In May 2015, Ascenta Health was acquired by Nature Way, a U.S.-based brand. In May 2015, Aker BioMarine was granted two patents by the U.S. Patent Office for the method of manufacturing superba and other krill oils from denatured krill or krill meal using a polar solvent.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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