Report : Asia Pacific Omega-3 Supplements Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Form (Capsules, Soft Gels, and Others), Source (Fish Oil, Krill Oil, Algae Oil, and Others), and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others)
Fish Oil Segment to Dominate Asia Pacific Omega-3 Supplements Market During 2020–2028
According to a new market research study on “Asia Pacific Omega-3 Supplements Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Form, Source, and Distribution Channel,” is expected to reach US$ 11,251.64 million by 2028 from US$ 5,955.90 million in 2021. The market is estimated to grow at a CAGR of 9.5% from 2021 to 2028. The report provides trends prevailing in the Asia Pacific omega-3 supplements market along with the drivers and restraints pertaining to the market growth. Strengthening emphasis on cognitive development, growing awareness regarding chronic diseases, and burgeoning consumers preferences toward vegan supplements are the major factor driving the growth of the Asia Pacific omega-3 supplements market. However, less clarity among consumers about the daily recommended intake hinders the growth of Asia Pacific omega-3 supplements market.
The COVID -19 pandemic is anticipated to cause a significant economic loss in Asia Pacific. The emergence of new COVID -19 waves in India and other Asian economies has resulted in the prolonged effect of the disease upon the average GDP of this region. However, the omega 3 supplements market has been witnessing growth in this period as these supplements are beneficial for?eye, heart, and brain health, as well as for the optimal functioning of the immune systems. In addition, investment by existing players, along with entry and expansion of new players to tap the prevailing opportunities and to cater to soaring demand for natural, healthy, clean-label products in pandemic recovery times.
The Asia Pacific omega-3 supplements market is segmented on the basis of form, source, distribution channel and country. Based on form, the market is segmented into capsules, soft gels, and others. In 2020, soft gels segment held the largest share in the market, it is also expected to be the fastest growing segment during the forecast period. Based on source, the market is segmented into fish oil, krill oil, algae oil, and others. In 2020, fish oil segment held the largest share in the market, and krill oil is expected to be the fastest growing segment during the forecast period. Based on distribution channel, the market is segmented into supermarkets and hypermarkets, specialty stores, online stores, and others. In 2020, specialty stores segment held the largest share in the market, and online stores is expected to be the fastest growing segment during the forecast period. Similarly, based on country the market is segmented into China, Japan, India, Australia, South Korea, and Rest of Asia-Pacific. In 2020, China held the largest share in the market, and India is expected to be the fastest growing country during the forecast period.
Church & Dwight, Inc.; Prestige Consumer Healthcare Inc.; NOW Foods; Nordic Naturals; Reckitt Benckiser Group plc.; Pharma Nord B.V.; Rimfrost As; Pharmavite LLC; Quten Research Institute; and Epion Brands are among the leading companies in the Asia Pacific omega-3 supplements market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, Epion Brands introduced its new Kori Pure Antarctic in Walmart, CVS, Meijer, and HEB. It is also available on Target.com and directly from the product’s website.
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