Covid-19 Impact on Omega 3 Supplements Market Size To Reach $15.20 Bn By 2030

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The global omega 3 supplements market size is expected to be worth around US$ 15.20 billion by 2030, according to a new report by Vision Research Reports.

The global omega 3 supplements market size was valued at US$ 6.50 billion in 2020 and is anticipated to grow at a CAGR of 9.6% during forecast period 2021 to 2030.

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Omega 3 Supplements Market (By Source: Fish Oil, Krill Oil, Algae Oil; By Form: Tablets, Capsules, Soft Gels, Others; By Functionality: Cardiovascular Health, Brain, Nervous System & Mental Health, Eye Diseases, Diabetes; By End-use: Adults, Geriatric, Pregnant Women, Children, Infants; By Distribution Channel: OTC, Prescribed) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030

Report Coverage

Report Scope Details
Market Size US$ 15.20 Bn by 2030
Growth Rate CAGR of 9.6% From 2021 to 2030
Base Year 2021
Forecast Period 2021 to 2030
Segments Covered Source, form, functionality, end user, distribution channel
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned 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

Growth Factors

A sedentary lifestyle has resulted in a rising number of chronic diseases, which is expected to propel the product demand. The omega-3 fatty acids aid in 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. Consumers are increasingly shifting to healthier alternatives while adopting preventive care as a necessary tool to help them lead a better lifestyle. Thus, omega 3 supplements are being increasingly consumed as they are a rich source of vitamins, proteins, minerals and render benefits to diseases, such as cancer, asthma, depression, and others.

By Source Analysis

Fish oil-based supplements led the market and accounted for more than 64.1% share of the global revenue in 2020. The availability of various types of fish, which contain different vitamins, is propelling 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.

increasing regulations on fishing activities to protect the fish species are expected to affect the raw material supply for the industry. The rising consumer inclination towards plant-based alternatives is expected to drive the demand for algae oil-based supplements.

By Form Analysis

Soft gels led the form segment with a share of 42.3% in the global market in 2020. Soft gels are an oral dosage form that consists 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.

Apart from omega-3 supplements, other dietary supplements including vitamin A, D3, & 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.

Plant-based casing materials are expected to witness a considerable demand due to the growing vegan population across the globe. Gummies, similar to candies, are a chewable form of omega-3 supplements that are enriched with nutrients.

By Functionality Analysis

Cardiovascular health led the market and accounted for a 38.4% share of the global revenue in 2020. Concerning cardiovascular disease prevention, omega-3 fatty acids help maintain HDL cholesterol, stabilize heart rhythms, reduce harmful LDL cholesterol, and lower blood pressure. All these health benefits are expected to drive the product demand in the cardiovascular health segment.

This trend is expected to drive the product demand for the treatment of coronary heart diseases, hypertension, and cholesterol. The brain, nervous system, and mental health segment is expected to register the second-fastest CAGR over the forecast period.

By Distribution Channel Analysis

The Over-The-Counter (OTC) distribution channel segment led the market and accounted for a 75.9% share of the global revenue in 2020. 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.

The cost-effectiveness and convenience of direct purchase are expected to create various opportunities for product manufacturers. Strict regulations by the governing bodies and less awareness among individuals are expected to augment the product sales through the prescribed distribution channel.

By End-user Analysis

The adult end-user segment accounted for the highest revenue share of over 43% in 2020. 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.

The children segment is expected to witness significant growth owing to the increasing inclination towards maintaining optimal health along with high purchasing power and willingness to spend on health and wellness products.

By Regional  Analysis

North America dominated the market and accounted for 37.7% share of the global revenue in 2020. Increased cases of obesity and lifestyle-related diseases on account of unhealthy dietary habits and availability of several processed and Ready-To-Eat (RTE) foods.

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.

products, such as fortified foods and dietary supplements enriched with omega fatty acids, are expected to have a high demand in the regional market. Asia Pacific is anticipated to witness significant growth on account of the rising expenditure on health-enhancing products due to increasing sports activities.

Key Players

  • 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

Market Segmentation

  • By Source
    • Fish Oil
    • Krill Oil
    • Algae Oil
    • Others
  • By Form
    • Tablets
    • Capsules
    • Soft Gels
    • Others
  • By Functionality
    • Cardiovascular Health
    • Brain, Nervous System & Mental Health
    • Eye Diseases
    • Diabetes
    • Others
  • By End-user
    • Adults
    • Geriatric
    • Pregnant Women
    • Children
    • Infants
  • By Distribution Channel
    • OTC
      • Supermarkets/ Hypermarkets/Food Stores
      • Drug Stores & Pharmacies
      • Online Retailers
      • Others
    • Prescribed
  • Regional
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • Germany
      • U.K.
      • France
      • The Netherlands
      • Italy
      • Spain
      • Norway
    • Asia Pacific
      • China
      • India
      • Japan
      • Australia
      • New Zealand
    • Central & South America
      • Brazil
      • Argentina
    • Middle East & Africa
      • UAE

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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