Non-Fish Omega 3 Supplements Market Is Expected To Reach a Valuation of US$ 569.2 Million By 2033

Rockville, Dec. 05, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, the global Non-Fish Omega 3 Supplements Market is likely to hit a US Value of 569.2 Million by 2033 while growing at a 9.4% CAGR.

Non-Fish Omega-3 Supplements are plant-based alternatives to traditional fish oil supplements, providing essential Omega-3 fatty acids without relying on fish sources. They are preferred by those following vegan or vegetarian diets and are considered environmentally friendly and sustainable, particularly supplements derived from algae. Unlike fish oil, they often eliminate the risk of a fishy aftertaste or burps and may have lower levels of contaminants. Non-Fish Omega-3 Supplements offer a diverse range of plant-based sources, including algae, flaxseed, chia seeds, and hemp seeds, allowing individuals to choose based on dietary preferences.

The growth of the Non-Fish Omega-3 Supplements Market is driven by increasing demand for plant-based and sustainable dietary options, with consumers seeking vegan and vegetarian alternatives. Concerns about overfishing, environmental sustainability, and the desire for cleaner, allergen-free supplements contribute to the rising popularity of Non-Fish Omega-3 Supplements.

However, consumer perceptions about the effectiveness of plant-based sources compared to fish-derived Omega-3 supplements may influence purchasing decisions and challenge market growth.

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Key Segments of Non-Fish Omega-3 Supplements Industry Research Report

Key Takeaways:

• The US Non-Fish Omega 3 supplements market is expected to witness a CAGR of 9.2% during the forecast period (2023-2033). The US market is predicted to be around US $ 137.4 Mn by 2033. The rise in the prevalence of inflammatory bowel disease is expected to contribute to market growth in the coming years.
• The non-fish omega 3 supplements are expected to reach US $ 20.9 Mn by 2033 with a growth dollar opportunity of US $ 11.6 Mn.
• By application type, pharma & personal care applications are expected to grow at a rapid pace of 8.9% during the forecast period. This growth is driven by various factors such as increasing consumer awareness, and growing demand for plant-based and sustainable alternatives.

The increasing demand for plant-based and sustainable dietary options, heightened awareness of environmental concerns related to overfishing, and advancements in technology for extracting Omega-3 from non-fish sources, particularly algae are some important factors driving the market- Says FACTMR Expert

Market Competition

Leading companies are focusing on offering a variety of supplements derived from non-fish sources such as algae, flaxseed, chia seeds, and others. Prominent players in the market comprise Croda International Plc., Natural Products Drugs GmbH, Hero Nutritionals LLC, Koninklijke DSM N.V., and Cargill, Inc.

• In June 2020, Cargill disclosed a collaboration with BASF, a global chemical company, to manufacture and promote Omega-3 fatty acids derived from canola crops. This joint venture aims to capitalize on Cargill's proficiency in oilseed processing and BASF's expertise in microbial fermentation, to establish a sustainable and expandable source of Omega-3 fatty acids.

Winning strategies

• In the market, collaborations and joint ventures, like the one between Cargill and BASF, are smart strategies. By teaming up, key players can combine their strengths and expertise to drive innovation and create sustainable sources of Omega-3.
• The focus on algae as a sustainable source has prompted key players to make strategic investments in expertise related to algae cultivation. Recognizing the significance of algae in providing a consistent and high-quality source of Omega-3 fatty acids, companies are proactively developing their capabilities in cultivating and harvesting algae.
• Major players are aligning their products with wider health and wellness trends, highlighting the comprehensive well-being and preventive health advantages associated with the consumption of these supplements.

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Checkout More Related Studies Published by Fact.MR Research:

Algae Supplements Market: Worldwide demand for algae supplements accounts for a market value of US$ 1.1 billion in 2023 and is forecasted to reach US$ 2.07 billion by the end of 2033. Across the study period (2023 to 2033), the global algae supplements market is projected to expand at a healthy 6.5% CAGR.

Dietary Supplements Market: The global dietary supplements market is anticipated to secure a market value of US$D 163 Billion in 2022 and reach US$ 351 Billion by 2032.

Omega 3 Ingredients Market: Growing consumer preference for a variety of supplements owing to the health benefits offered by them has fuelled the demand for omega 3 ingredients, as they are among the essential fatty acids. Omega 3 ingredients are organic compounds derived from plant and marine sources. 

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