by The global DHA supplements market is estimated to be valued at US$1,385.8 million in 2021 and is expected to exhibit a CAGR of 7.0% over the forecast period 2021-2028, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
DHA supplements are dietary supplements that contain docosahexaenoic acid (DHA), an omega-3 fatty acid commonly found in fish oil. These supplements are consumed to improve brain health, reduce the risk of heart disease, and support overall well-being. With the increasing awareness about the health benefits of DHA and the rising demand for omega-3 fatty acids, the global DHA supplements market is witnessing significant growth.
Market Dynamics:
1. Driver: Rising Awareness About Health Benefits
The growing awareness among consumers about the health benefits of DHA supplements is a major driver for the market. DHA is known to support brain development, improve cognitive function, and reduce the risk of neurodegenerative diseases. It also plays a crucial role in maintaining heart health, reducing inflammation, and supporting eye health. As more people become aware of these benefits, the demand for DHA supplements is increasing.
For example, a study published in the journal Nutrients found that DHA supplementation improved cognitive function in healthy young adults. Another study published in the Journal of the American Medical Association (JAMA) Cardiology showed that DHA supplementation was associated with a lower risk of heart disease.
2. Opportunity: Increasing Demand for Omega-3 Fatty Acids
The growing demand for omega-3 fatty acids is an opportunity for the DHA supplements market. Omega-3 fatty acids are essential nutrients that are important for maintaining overall health and well-being. They are primarily found in fish oil and algae-based sources. DHA is one of the main omega-3 fatty acids and is highly sought after by consumers.
The increasing adoption of plant-based diets and the rising awareness about the environmental impact of fish oil production have led to the development of vegetarian and vegan DHA supplements, which are derived from algae. This provides a significant opportunity for market players to tap into the growing demand for sustainable and plant-based omega-3 supplements.
Segment Analysis:
The DHA supplements market can be segmented based on source, form, and distribution channel.
Based on source, the market is segmented into fish oil-based supplements and algae-based supplements. Algae-based supplements are expected to dominate the market as they provide a sustainable and vegan alternative to fish oil.
Based on form, the market is divided into softgels, capsules, and liquids. Softgels are the dominant segment due to their ease of consumption and better bioavailability.
Based on the distribution channel, the market is categorized into online retail, pharmacies and drug stores, supermarkets and hypermarkets, and others. The online retail segment is witnessing significant growth due to the convenience and wide availability of products.
PEST Analysis:
Political: The political landscape plays a significant role in the regulation and marketing of dietary supplements. Government regulations may vary from country to country, impacting the availability and marketing of DHA supplements.
Economic: The economic factors influencing the DHA supplements market include consumer spending power, disposable income, and healthcare expenditure. These factors determine the affordability and accessibility of DHA supplements for consumers.
Social: The social factors influencing the market include changing consumer preferences, lifestyle trends, and increasing awareness about health and well-being. The growing focus on preventive healthcare and the adoption of healthy lifestyles are driving the demand for DHA supplements.
Technological: Technological advancements in extraction and purification methods are improving the quality and efficacy of DHA supplements. Additionally, advancements in encapsulation and delivery systems are enhancing the bioavailability of DHA.
Key Takeaways:
The global DHA Supplements Market Growth is expected to witness high growth, exhibiting a CAGR of 7.0% over the forecast period, driven by factors such as rising awareness about the health benefits of DHA and increasing demand for omega-3 fatty acids.
North America is the fastest-growing and dominating region in the DHA supplements market, attributed to the high prevalence of lifestyle diseases, increasing health consciousness among consumers, and the presence of key market players.
Key players operating in the global DHA supplements market include BASF Corporation, DSM, Cellana Inc., JC Biotech Pvt.Ltd, FEMICO, Croda International Plc, Pharma Marine AS, Clover Corporation, Omega Protein Corporation, Kingdomway Nutrition, Inc., ECPlaza Network Inc., Bizen Chemical Co.LTD, Stepan Company, Novotech Nutraceuticals, Inc., Arjuna Natural, Jiangsu Auqi Marine Biotechnology Co., Ltd., and Aker BioMarine.
In conclusion, the global DHA supplements market is witnessing significant growth due to the rising awareness about the health benefits of DHA and the increasing demand for omega-3 fatty acids. The market is expected to continue growing as more consumers recognize the importance of DHA for overall well-being and seek convenient and sustainable sources of omega-3 supplements.
