Global Plant-Based Omega 3 Supplements Market, By Type (Docosahexaenoic Acid (DHA), Eicosapentaenoic Acid (EPA), Alpha-Linolenic Acid (ALA)), Application (Dietary Supplements, Functional Food & Beverages, Pharmaceuticals, Infant Formula, Pet Food & Feed), Country (U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Plant-Based Omega 3 Supplements Market
The plant-based omega 3 supplements market is expected to witness market growth at a rate of 8.20% in the forecast period of 2021 to 2028 and is expected to reach USD 12.70 billion by 2028. Data Bridge Market Research report on plant-based omega 3 supplements market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The rise in consumer awareness about the health benefits of omega-3 is escalating the growth of plant-based omega 3 supplements market.
Omega-3 is defined as a polyunsaturated fatty acid that cannot be synthesized in the human body. Thus, individuals tend to consume omega-3 from plant and animal sources. Plant-based supplements are referred to as the additional nutrients people consume when they want to lead a healthy, balanced vegetarian and vegan diet. Vegetarians and vegans don't consume any red meat, poultry, game, fish, shellfish or crustacea, thus they highly prefer supplements are derived from plant-based sources.
The increase in consumer preference towards eating vegetarian food over animal-based products and avoiding an omnivore diet acts as one of the major factors driving the growth of plant-based omega 3 supplements market. The rise in adoption of omega 3 in supplements and functional foods because of its effective results in the treatment of a several health issues such as depression, menstrual health, mental health and bone loss and increase in demand for vegan vitamins and supplements among the consumers who prefer vegan food accelerate the plant-based omega 3 supplements market growth. The implementation of favorable regulations related to the utilization of omega 3 in infant formulations and the increasing popularity of these products as they have more advantages over their counterpart including synthetic or animal based-supplements further influence the plant-based omega 3 supplements market. Additionally, expansion of health and fitness industry, shift in demand for meat alternatives, increasing focus on preventive healthcare, growth in food processing applications, rising awareness around the benefits of protein-rich diet and proteins, growing vegan population and increasing demand from food and beverage industry positively affect the plant-based omega 3 supplements market. Furthermore, growing awareness associated with the certified food ingredients and increase in the number of vegan population extends profitable opportunities to the plant-based omega 3 supplements market players in the forecast period of 2021 to 2028.
On the other hand, high cost associated with the research and development activities and availability of wide range of synthetic supplements are the factors expected to obstruct the plant-based omega 3 supplements market growth. Lack of knowledge regarding the daily recommended intake among consumers and the implementation of stringent regulations and norms in some regions are projected to challenge the plant-based omega 3 supplements market in the forecast period of 2021-2028.
This plant-based omega 3 supplements market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on plant-based omega 3 supplements market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Plant-Based Omega 3 Supplements Market Scope and Market Size
The plant-based omega 3 supplements market is segmented on the basis of type and application. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the plant-based omega 3 supplements market is segmented into docosahexaenoic acid (DHA), eicosapentaenoic acid (EPA) and alpha-linolenic acid (ALA).
- On the basis of application, the plant-based omega 3 supplements market is segmented into dietary supplements, functional food and beverages, pharmaceuticals, infant formula and pet food and feed.
Global Plant-Based Omega 3 Supplements Market Country Level Analysis
The plant-based omega 3 supplements market is analyzed and market size, volume information is provided by country, type and application as referenced above.
The countries covered in the global plant-based omega 3 supplements market report are the U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominates the plant-based omega 3 supplements market because of the increase in obesity levels and lifestyle-related diseases and rising awareness about vegan diet along with shifting trend towards vegetarianism. Asia-Pacific is expected to witness the significant CAGR during the forecast period of 2021-2028 because of the growing demand for the omega-3 product in the developing nations and increase in spending for the development of natural ingredients in the region.
The country section of the plant-based omega 3 supplements market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Plant-Based Omega 3 Supplements Market Share Analysis
The plant-based omega 3 supplements market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to plant-based omega 3 supplements market.
The major players covered in the plant-based omega 3 supplements market report are DuPont, Jarrow Formulas, Inc., Vitamin Energy, Solgar Inc., Deva Nutrition LLC, NOW Foods, Natrol, LLC, Vitacost, Garden of Life, Pure Encapsulations, LLC, Orgenetics, Inc., Ora Organic, HTC Health, Danone, Roquette Frères, Kerry Group, BENEO, Glanbia PLC, Amway India Enterprises Pvt. Ltd., Sakara Life, NUZEST among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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