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Omega 3 Supplements Market Size, Share, Analysis Challenges, and Future Growth Forecast 2022-2031

Kenneth Research has recently added a report titled Omega 3 Supplements Market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2022-2031.

U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Omega 3 Supplements Market products.

“Final Report will add the analysis of the impact of COVID-19 on this industry.”

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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.

Global Omega 3 Supplements Market is valued approximately at USD 5.18 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 8.4% over the forecast period 2020-2027. Omega-3 is a polyunsaturated fatty acid that cannot be synthesized in the human body. Thus, consumers consume omega-3 from plant and animal sources in the form of supplements. These supplements are derived from sources such as algae oil, krill oil, fish oil, and others. Omega 3 supplements are available in the form of capsules, tablets, soft gels and others and contains vitamin A, vitamin D3, vitamin E, lycopene, carotenoids, and omega-3 fatty acids. The growing health consciousness among consumers and rising awareness regarding chronic diseases encourages the growth of Omega 3 Supplements Market. For instance: according to American Hospital Association, the number of Americans with chronic medical conditions was 149 million in 2015 and is anticipated to rise to 164 million of Americans suffering from chronic medical conditions in 2025. Furthermore, the rising advancements and other strategic alliance by market key players will create a lucrative demand for this market.

For instance: on 12th June 2019, KD Pharma Group launched K2ardio3TM, solution to maintain healthy lipids (triglycerides and cholesterol) and blood vessels and support cardiovascular health. The product includes Omega-3s, Vitamin K2 and phytosterol, a complete lipid and blood vessel management in one product. However, lower fish oil supply due to sustainability issues among fisheries is the major factor restraining the growth of global Omega 3 Supplements market during the forecast period.

The regional analysis of global Omega 3 Supplements Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the 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. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.

Major market player included in this report 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

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

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The detailed segments and sub-segment of the market are explained below:

By Source:
Fish Oil
Krill Oil
Algae Oil
Others

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
Prescribed

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027

Target Audience of the Global Omega 3 Supplements Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

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About Kenneth Research

Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defence, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research, are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.

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