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Increasing obesity coupled with enhanced healthcare infrastructure in developing nations such as
China, India, South Africa, and Brazil is expected to drive product demand over the forecast period.
Rising consumer willingness to pay for costly nutraceuticals and supplements owing to health concerns
is anticipated to propel the market for omega 3 supplements. The market is highly competitive in nature
with manufacturers looking to develop low cost products to fulfil rising demand from emerging
economies.
Asia Pacific is expected to emerge as the fastest growing market for omega 3 supplements. Japan is
one of the largest sardine fishing countries, which is expected to propel regional growth in near future.
The region accounted for approximately 37% of market share in terms of revenue in 2016 and is
expected to expand at a CAGR of over 10% by 2025. Increasing population in China and India is
projected to drive regional demand for infant formulas. In addition, demand for packaged baby nutrition
formulas owing to growing percentage of working women coupled with rising disposable income of
parents is anticipated to augment regional market over the forecast period.
Major players in the omega 3 supplements market are concentrating on new product development and
business expansion to improve their share within the global market. Manufacturers are concentrating
on developing application-specific products to reach untapped markets. Additionally, they are
collaborating with other companies to create new opportunities for their existing products. Majority of
companies are vertically integrated in the production of fish and krill oil for omega 3 fatty acid and its
supplements. This scenario provides the companies with an enhanced product portfolio accounting for
increased sales.
In addition, companies are involved in the production of advanced omega3 supplements for multiple
health problems such as heart diseases, skin and hair care, and joint problems among others. For
instance, since 2016, Golden Omega, an operating unit of Corpesca S.A. which is the largest seafood
exporter of Latin America; has started its own fish oil manufacturing plant to derive specialty omega 3
products. The company is majorly focusing on U.S., Japan, Korea, China, and European Union (EU).
Browse Related Category Market Reports @ https://www.hexaresearch.com/research-category/food-and-
beverages-industry
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